Banking sector net profit plummets

Poland’s banking sector recorded an aggregated net profit of PLN 11.42 billion in January-September 2015, according to data from the Financial Supervision Authority (KNF). It fell by 11.9 percent year-on-year. Net income from banking activity stood at PLN 41.56 billion and fell by 5.8 percent y/y. Banks’ net interest income fell by 8.1 percent y/y to PLN 26.09 billion. Net fees and commissions came in at PLN 10.07 billion, a decrease of 2.3 percent y/y.