Twenty-five Polish banks report EUR 330 mln in total losses in 2020

Poland’s financial supervisor has said eight commercial and 17 cooperative banks with a combined market share of 8.5 percent reported a total loss of PLN 1.5 billion (EUR 330 million) in 2020.

The Polish Financial Supervision Authority (KNF) reported on Thursday that other banks made a combined profit of PLN 8.96 billion (EUR 1.99 billion).

The banking sector's return on equity (ROE) fell to 3.38 percent in 2020 from 6.73 percent a year earlier, the KNF said. This is an indication of the impact that the coronavirus pandemic has had on the lenders' profitability.