Banks report 19.3% y/y profit growth in January

In January 2024, Polish banks reported a net financial result of PLN 3.74 billion, a 19.3% increase compared to the previous year, according to the Financial Supervision Commission (KNF). Commercial banks recorded a combined loss of PLN 3 million, while other sector banks achieved a profit of PLN 3.8 billion. Interest income rose to PLN 8.97 billion, with commission income reaching PLN 1.72 billion. Operating expenses amounted to PLN 5.37 billion. Provisions decreased by 28.2% to PLN 497.51 million.

The banking sector's ROE was 12.93%, and ROA was 0.99%. Capital adequacy ratios remained stable. As of January 2024, Poland had 29 commercial banks, 491 cooperative banks, and 34 branches of foreign banks.