Alior Bank Slumps to 6-Week Low After Posting Loss: Warsaw Mover
Alior Bank SA (ALR), the Polish lender that went public in December, slumped to a six-week low in Warsaw trading after reporting a fourth-quarter net loss.
The shares fell as much as 6.1 percent and traded 4.5 percent lower at 67.65 zloty as of 9:49 a.m. in Warsaw, the lowest level since Jan. 21. Net loss stood at 49 million zloty ($15 million), compared with a profit of 72 million zloty a year earlier, Piotr Bystrzanowski, an investors’ relation officer at Alior, said by phone today.
The bank, in which its founding company Carlo Tassara SpA is seeking to sell a controlling stake this year, booked costs related to its share sale and a bonus paid out to management in the fourth quarter, the Warsaw-based bank said in a regulatory statement today. Excluding the IPO-related costs, Alior had a fourth-quarter profit of 110 million zloty, Bystrzanowski said.
Alior’s net interest income of 193 million zloty in the fourth quarter was “far below expectations,” Marta Czajkowska- Baldyga, an analyst at KBC Securities, said in a note today.
Full-year net income rose 14 percent to 174.1 million zloty, it said in a regulatory statement today. Alior’s 2.1 billion-zloty IPO in December was the biggest by a private Polish company.
To contact the reporter on this story: Marta Waldoch in Warsaw at firstname.lastname@example.org
To contact the editor responsible for this story: Frank Connelly at email@example.com