BREJY mBank SA (PK)

WARSAW--Polish BRE Bank SA (BRE.WA), a unit of Germany's Commerzbank AG (CBK.XE) is likely to see a net profit of 1 billion zlotys ($314.84 million) this year, the bank's Chief Executive Cezary Stypulkowski said Monday.

Mr. Stypulkowski added the last year's earnings of PLN1.2 billion are unlikely to be repeated this year, mainly due to lower interest rates and an economic slowdown.

"Looking at the first quarter's results, I would say that PLN1 billion net profit is rather certain," Mr. Stypulkowski told TVN CNBC.

BRE's net profit reached PLN324 million in the first three months of 2013.

Write to Patryk Wasilewski at patryk.wasilewski@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires