Polish banking sector nets EUR 2.78 bln in Q1-Q3

The Polish banking sector posted a net profit of PLN 11.86 bln (EUR 2.78 bln) in the first three quarters of 2019, up by 2.86 pct on the same period of 2018, the Polish Financial Supervision Authority (KNF) said in a Friday report.

The banks' net interest income reached PLN 37.16 bln (EUR 8.71 bln) in the first nine months of 2019, up by 8.6 percent year on year, while the net fee and commission income amounted to PLN 9.93 bln (EUR 2.33 bln), up by 1.5 percent.

The banks' operating costs reached PLN 26.75 bln (EUR 6.27 bln) in January-September and were 2.3 percent higher compared to the previous year.

Provisions and impairments increased by 13.5 percent year on year to PLN 7.1 bln (EUR 1.66 bln), KNF also said.