WARSAW, March 20 (Reuters) - Polish mid-tier lender Bank BPH said on Friday its net profit fell 75 percent year-on-year in the fourth quarter as record-low interest rates ate into margins, while fees and commissions fell after Poland imposed credit card fee cuts.
The Polish unit of General Electric Co said net profit fell to 11 million zlotys ($2.9 million) in the last three months of 2014, leaving full-year net profit down 42 percent at 112 million.
Poland's No.10 bank has been put up for sale, but the surge in the Swiss franc has cooled merger and acquisitions activity, as buyers and sellers take time to assess the effects of a sharp rise in the cost of mortgages denominated in the Swiss currency.
More than half of BPH's loan portfolio, or 12 billion zlotys, is in Swiss francs.
GE holds 87.26 percent of BPH shares, which are worth $892 million in total. ($1 = 3.8658 zlotys) (Reporting by Marcin Goclowski; Editing by David Holmes)