Bank Gospodarstwa Krajowego recorded a consolidated profit net of PLN 584.57 million in 2017 compared to PLN 257.04 million a year earlier, the bank reported.
“The increase in the result was mainly related to the increase in the scale of banking operations and the improvement of the portfolio quality,” the bank’s report read.
Net interest income amounted to PLN 776.11 million compared with PLN 651.58 million in the previous year. Net fee and commission income reached PLN 156.6 million compared to PLN 120.05 million a year earlier. The total assets of the bank totalled PLN 74.31 billion at the end of 2017 against 66.75 billion at the end of 2016.
Bank Gospodarstwa Krajowego is a state development bank that initiates and implements programs serving the economic growth of Poland.