Poland's ING Bank Slaski posts 5% drop in net profit as costs bite
Adds details from paragraph 3
Oct 31 (Reuters) -ING Bank Slaski INGP.WA, the Polish unit of ING INGA.AS, reported a slight fall in its third-quarter net profit on Thursday, hurt by rising costs.
Net profit came in at 1.10 billion zlotys ($274.30 million) for the July-September period, down 5% from a year earlier and missing a company-compiled consensus of 1.12 billion zlotys.
Impairments for expected credit losses more than doubled to 348 million zlotys, while general and administrative expenses rose over 10% to 956 million zlotys.
Net interest income (NII), a measure of earnings on loans minus deposit costs, was 2.26 billion zlotys, slightly above the consensus of 2.24 billion zlotys.
Net fee and commission came in at 582.4 million zlotys, up from last year's 552.1 million zlotys and above the consensus of 577.4 million zlotys.
As of Sept. 30, the lender's return-on-equity (ROE) was 27.1%, while net interest margin (NIM) was at 3.1%.
($1 = 4.0102 zlotys)
Reporting by Julia Kotowska and Rafal W. Nowak; Editing by Savio D'Souza and Subhranshu Sahu
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