Banking sector net profit down 1.1% in I-VII

Poland’s banking sector recorded an aggregated net profit of PLN 9.3 billion in January-July 2016, according to data from the Financial Supervision Authority (KNF). It fell by 1.1 percent year-on-year. Net income from banking activity stood at PLN 35.9 billion and increased by 10.3 percent y/y. Banks’ net interest income grew by 8.7 percent y/y to PLN 21.82 billion. Net fees and commissions came in at PLN 7.33 billion, a decrease of 6.3 percent y/y.