Banking sector profit soars by 50.4% in October – NBP

Poland’s banking sector recorded an aggregated net profit of PLN 1.15 billion in October, according to data from the Poland’s Central Bank (NBP), representing a 50.4 percent growth y/y. At end-October, the sector had PLN 11.7 billion net profit, down by 3.5 percent y/y. Operational costs stood at PLN 2.68 billion in October and decreased by 11.2 percent y/y. Banks’ net interest income grew by 12 percent y/y to PLN 3.71 billion. Net fees and commissions came in at PLN 1.15 billion, a 6.8 percent y/y growth.