Banking sector H1 profit drops

Poland’s banking sector recorded an aggregated net profit of PLN 6.88 billion in H1, according to data from the Poland’s Central Bank (NBP), representing a 16.9 percent drop y/y. In June the profit amounted to PLN 1.69 billion. Operational costs stood at PLN 16.66 billion in H1 and increased by 6 percent y/y. Banks’ net interest income grew by 11.1 percent y/y to PLN 20.54 billion. Net fees and commissions came in at PLN 6.84 billion, a 9 percent y/y growth.