KNF: Banking sector down 17.5% in H1

Poland’s banking sector recorded an aggregated net profit of PLN 6.87 billion H1, according to data from the Financial Supervision Authority (KNF), representing a 17.5 percent decline y/y. Net income from banking activity stood at PLN 30.5 billion and decreased by 1.9 percent y/y. Banks’ net interest income grew by 11.1 percent y/y to PLN 20.6 billion. Net fees and commissions came in at PLN 6.84 billion, a 9 percent y/y growth. Operating costs amounted to PLN 16.72 billion, a 6 percent increase.