Polish banking sector nets EUR 1.25 bln in January-August

Polish banking sector nets EUR 1.25 bln in January-August Paweł Supernak/PAP

The Polish banking sector posted a net profit of PLN 5.65 billion (EUR 1.25 billion) in January-August 2020, a 46.6 percent decrease year on year, the National Bank of Poland (NBP) said in a Thursday report.

In August alone, the net profit reached PLN 1.3 billion (EUR 290.0 million), down by 13.3 percent year on year, NBP said.

The sector's operational income reached PLN 45.4 billion (EUR 10.05 billion) in January-August, declining by 5.6 percent year on year. Overheads stood at PLN 23.5 billion (EUR 5.2 billion), falling by 1.5 percent from the previous year.

Impairments grew by 28.1 percent year on year in the first eight months of the year, reaching PLN 8.1 billion (EUR 1.79 billion).