GUS: banks net results up in Q1 y/y
15:24
In the first quarter of the year, the net financial result of the banking sector amounted to PLN 4.04 billion, an increase of 1.6 percent on a yearly basis, the Central Statical Office (GUS) informed on Friday. As many as 616 lenders recorded a net profit, while 11 commercial banks and two cooperative banks generated a net loss, GUS also reported.
The sector's net interest income stood at PLN 8.66 billion in the Q1, an increase of 6.2 percent year-on-year. Net fees and commissions came in at PLN 3.3 billion, a decline of 3.6 percent.
Banks' revenues from dividends in the period amounted to PLN 300 million, an increase of 141.5 percent.
Lenders' operating costs grew by 5 percent to PLN 7.11 billion, of which staff costs accounted for 52.8 percent, i.e. PLN 3.76 billion (up by 0.5 percent) and general and administrative expenses increased by 10.7 percent and amounted to PLN 3.36 billion.
