Poland: Banking Industry’s Profits Down

Businessn.a. ♦ Published: May 9, 2014; 12:09 ♦ (Vindobona)

In the first quarter this year, the net profit of Polish banks came at PLN 3.97bn (€ 944m, down by 2.9 percent year-on-year, as reported by the Polish financial market regulator KNF.

Profits for Polish banks were up in March but down in the first quarter on an annual comparison basis. / Picture: © Vindobona.org

While overall bank activities generated PLN 14.09bn, up by 3.2 percent year-on-year, and the interest income increased by 13 percent year-on-year to PLN 9.25bn income from commission fees dropped 2.1 percent to PLN 3.41bn.

Value adjustments came at PLN 1.82bn, which is an increase of 7.2 percent year-on-year. As of the end of March the solvency ration of the financial sector…