Banking sector profit soars in May

Poland’s banking sector recorded an aggregated net profit of PLN 1.33 billion in May, according to data from the Poland’s Central Bank (NBP), representing a 35.4 percent growth y/y. At end-May, the sector had PLN 5.29 billion net profit, down by 2 percent y/y. Operational costs stood at PLN 2.69 billion in May and increased by 3.3 percent y/y. Banks’ net interest income grew by 14.1 percent y/y to PLN 3.54 billion. Net fees and commissions came in at PLN 1.14 billion, a 13.9 percent y/y growth.