Banking sector net profit plummets again

Poland’s banking sector recorded an aggregated net profit of PLN 11.42 billion in January-October 2015, thus exactly the same as in January-September 2015, according to data from the Financial Supervision Authority (KNF). It fell by 20.6 percent on a yearly basis. Net income from banking activity stood at PLN 46.49 billion and decreased by 5 percent y/y. Banks’ net interest income fell by 6.2 percent y/y to PLN 29.14 billion. Net fees and commissions came in at PLN 11.13 billion, a decrease of 1,7 percent y/y.