KNF: Banking sector down 2.15% at end-May

Poland’s banking sector recorded an aggregated net profit of PLN 5.17 billion at end-May, according to data from the Financial Supervision Authority (KNF), representing a 2.15 percent decline y/y. Net income from banking activity stood at PLN 24.89 billion and increased by 4.8 percent y/y. Banks’ net interest income grew by 11.1 percent y/y to PLN 17.14 billion. Net fees and commissions came in at PLN 5.64 billion, a 9.4 percent y/y growth. Operating costs amounted to PLN 14.04 billion, a 6.6 percent increase.