Banking sector net profit up 1.1%

Poland’s banking sector recorded an aggregated net profit of PLN 8.02 billion in H1 2016, according to data from the Financial Supervision Authority (KNF). It grew by 1.1 percent year-on-year. Net income from banking activity stood at PLN 30.67 billion and increased by 9.9 percent y/y. Banks’ net interest income grew by 8.7 percent y/y to PLN 18.55 billion. Net fees and commissions came in at PLN 6.27 billion, a decrease of 6.1 percent y/y.