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Polish Getin Holding Q2 net surges on unit IPO

WARSAW : Poland 's financial group Getin Holding reported a seven-fold rise in earnings on Friday thanks to proceeds fr
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By Syed Murtaza Gheblehzadeh
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getin-holdingWARSAW: Poland's financial group Getin Holding reported a seven-fold rise in earnings on Friday thanks to proceeds from the flotation of its mortgage advising unit Open Finance, beating expectations.

Getin, which spun off Open Finance in an initial public offer than netted it some 600 million zlotys ($206.7 million), said its net profit stood at 732 million zlotys versus 692 million expected by analysts polled by Reuters.

 

Copyright Reuters, 2010

 

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