BGK net profits fall by 17%

Poland's state-owned lender BGK recorded a consolidated net profit of PLN 362.7 million in 2015, compared with PLN 434.6 million in the same period last year, the bank informed in a report. The total value of assets stood at PLN 43.4 billion, while it amounted to PLN 51.2 billion in 2014. The bank's net interest income totaled PLN 636.3 million in 2015, versus PLN 741 million last year. Net fees and commissions came in at PLN 110.3 million, compared to PLN 92.8 million in 2014. BGK is the only Polish bank, which belongs entirely to the Treasury. It was established in 1924 as part of the Act to promote government socio-economic programs and programs for local government and regional development.