Banking sector net profit at PLN 4.04 bln in Jan-March

Poland’s banking sector recorded an aggregated net profit of PLN 4.04 billion in January-March 2015, according to data from the Financial Supervision Authority (KNF). It grew by 1.6 percent year-on-year. Net income from banking activity stood at PLN 48.4 billion and grew by 4.91 percent y/y. Banks' net interest income fell by 6.1 percent y/y to PLN 8.69 billion. Net fees and commissions came in at PLN 3.29 billion, an increase of 3.5 percent y/y.