Bank Zachodni WBK SA announced earnings results for the fourth quarter and full year 2011. For the quarter, the company recorded group net profit of PLN 194.4 million. Net interest income was PLN 539.3 million up 7.5% year on year. Operating profit was PLN 277.0 million down 24.2% year on year. Attributable net profit was PLN 198.4 million down 25.9% year on year. For the year, the company recorded PLN 1.18 billion group net profit, up from PLN 974.2 million a year before. For the fourth of 2011, the company reported impairments of PLN 85.5 million down 17.1% year on year. For the year 2012, the company expects to post above market profit growth in 2012, as it mortgage and consumer loan portfolio expand by some 15% and corporate loans grow around 10%. Revenue gains, including revenue synergies gained on integration into the Santander group, will drive the bank's cost to income ratio to new lows.