Polish banking sector nets EUR 0.75 bln in January-May

The Polish banking sector posted a net profit of PLN 3.38 billion (EUR 0.75 billion) in January-May 2020, a 42.2 percent decrease year on year, the National Bank of Poland (NBP) said in a Friday report.

In May alone, the net profit reached PLN 1 billion (EUR 222.2 million), while in April the sector posted a net profit of PLN 896 million (EUR 199.1 million).

The sector's operational income reached PLN 28.6 billion (EUR 6.4 billion) in January-May, declining by 2.9 percent year on year. Overheads stood at PLN 15.5 billion (EUR 3.4 billion), falling by 0.3 percent from the previous year.

Impairments soared by 43.8 percent year on year in the first five months of the year, reaching PLN 5.14 bln (EUR 1.14 billion).