Handlowy 2009 net below consensus on provisions

WARSAW, March 17 (BestGrowthStock) – Citigroup’s (C.N: ) Polish unit,
Bank Handlowy (BAHA.WA: ), reported a 16-percent fall in 2009 net
profit on Tuesday, coming in below market expectations on higher
risk provisions.

The mid-sized lender said its full-year earnings dropped to
504 million zlotys ($177 million) compared to 533 million seen
in Reuters poll. Provisions spiked to 546 million from 153
million a year earlier.

Stock Market Investing

(Reporting by Adrian Krajewski)

Handlowy 2009 net below consensus on provisions