Bank Zachodni WBK SA, the Polish subsidiary of Allied Irish Banks (AIB) fell in Warsaw trading this morning after Raiffeisen Centrobank AG cut its price estimates for the Polish financial institution.
Zachodni, majority-owned by AIB, fell 1.4 per cent to 155.9 zloty at 10.44am in Warsaw, the lowest level since April 24th.
Raiffeisen analyst Jovan Sikimic in Vienna lowered his 12-month share-price projection 11 percent to 187 zloty, citing a worsened outlook for fee income.
Raiffeisen Centrobank AG also cut price estimates for Getin Holding SA which is controlled by Polish billionaire Leszek Czarnecki.
Bloomberg