Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna provided earnings guidance for the first quarter of 2020. PKO BP expects an at least PLN 320 million hit to its First Quarter group net profit, which will accordingly turn out "significantly lower" on an annual basis, the bank stated pointing to the impact of rate cuts, additional provisions for legal risks and provisions linked to the expected loan portfolio deterioration.