Banking sector profit falls by 15.7% y/y

Poland’s banking sector recorded an aggregated net profit of PLN 3.5 billion in January-March 2016, according to data from the Financial Supervision Authority (KNF). It fell by 15.7 percent year-on-year. Net income from banking activity stood at PLN 14.2 billion and fell by 2 percent y/y. Banks’ net interest income grew by 5.9 percent y/y to PLN 9.19 billion. Net fees and commissions came in at PLN 3.13 billion, a decrease of 5 percent y/y.