NBP: Bank profits inches up in February

The net profit of the Polish banking sector in February amounted to PLN 845 million, a 1.6 percent increase 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 4.53 billion (1.5 percent y/y growth), while costs increased by 13.3 percent to PLN 2.63 billion. Write-offs from financial assets losses increased to PLN 622 million.