KNF: Banking sector profit drops 2.3% in 2017

The banking sector recorded an aggregated net profit of PLN 13.6billion last year, according to data from the Financial Supervision Authority (KNF), representing a 2.3 percent decline y/y. Net income from banking activity stood at PLN 61.76 billion and increased by 4.1 percent y/y. Banks’ net interest income grew by 12.1 percent y/y to PLN 42.63 billion. Net fees and commissions came in at PLN 13.74 billion, a 9.1 percent y/y growth. Operating costs amounted to PLN 18.35 billion, a 1.4 percent decrease. Costs went up by 4.3 percent to PLN 33.02 billion.