Citi Handlowy made a net profit of zł.244 million in the first quarter of 2012. That's 34 percent more than it recorded in the same period one year earlier and a 10 percent month-on-month increase.

“The result is very good, but it was influenced by one-off events. The bank recorded additional profit from the sale of bond portfolios,” Tomasz Bursa, analyst at Ipopema Securities, told Puls Biznesu.

Not taking into account one-offs, the results of Citi Handlowy's business operations improved by four percent y/y. That's less than the increases recorded by Millennium and BZ WBK, banks which have already published their Q1 reports.

Poland A.M.