Banking sector Q1-Q3 profit drops

Poland’s banking sector recorded an aggregated net profit of PLN 10.55 billion at end-Q3, according to data from the Poland’s Central Bank (NBP), representing a 7.1 percent drop y/y. In Q3 alone the profit amounted to PLN 3.84 billion. Operational costs stood at PLN 24.56 billion at end-Q3 and increased by 3.4 percent y/y. Banks’ net interest income grew by 10.9 percent y/y to PLN 31.4 billion. Net fees and commissions came in at PLN 13.34 billion, an 8.1 percent y/y growth.