NBP: Bank profits down by 29.1% in January

The net profit of the Polish banking sector in January amounted to PLN 817 million, a 29.1 percent drop y/y, the data from the Poland's Central Bank (NBP) showed. Profits from interest grew by 11.1 percent y/y to PLN 3.42 billion, fees and commissions grew by 9.2 percent to PLN 1.07 billion. Profits from the banking activity amounted to PLN 4.9 billion (9 percent y/y growth), while costs increased by 31.7 percent to PLN 2.97 billion. Write-offs from financial assets losses increased to PLN 482 million.