Banking sector net profit fell y/y

Poland’s banking sector recorded an aggregated net profit of PLN 10.314 billion in January-August 2015, compared to PLN 11.688 billion in the corresponding period last year, according to data from the National Bank of Poland (NBP). Net income from banking activity stood at PLN 36.9 billion and fell by 5.9 percent y/y. Banks' net interest income decreased by 8.5 percent y/y to PLN 23.02 billion. Costs of activity increased by 1.7 percent, to PLN 18.534 billion, as of the end of August.