Banks’ expenses, profits both up – GUS

During the period Q1-Q3 operating expenses across Polish banks increased by an average of 13.8 percent, y/y, according to information from the Central Statistical Office released on Friday. The report stated that the cost of staffing, which was PLN 11.9 billion, accounted for 50 percent of banks’ expenses. However, both income tax collected from the sector, as well as revenues, increased as well, the latter inching up by 2.9 percent, y/y. Income tax taken in totalled PLN 3.4 billion.