Poland's third biggest lender, Bank Zachodni WBK SA posted a record quarterly profit on increased loan revenue. Zachodni is a subsidiary of Banco Santander SA.

The lender's net income increased by 10% to US$132 million from its last year's April to June record. This was according to a regulatory statement issued by the bank today. This beat the PLN355.3 million mean estimate forecasted by six analysts that were surveyed by Bloomberg.

The net interest income during the second quarter rose by 39% to PLN571.8 million from last year. This was after Zachodni adjusted its pricing on deposits that were to offset falling interest rates in the country this year. The increase in the lender's quarterly profit record was after it completed a merger this year with Kredyt Bank SA, a Santander's Warsaw-based subsidiary.

Zachdoni shares increased by 2.9% to PLN313 at 10:08am today in Warsaw which also recorded its highest closing in six years.