NBP: net profit of banks increased by 51.9% y/y to PLN 42 bln
The net profit of Poland’s banking sector reached PLN 42 billion in January-December 2024, marking a 51.9% y/y increase, according to the National Bank of Poland (NBP). As of November 2024, the sector’s net profit was PLN 39.76 billion.
Total interest income for 2024 amounted to PLN 172.43 billion, reflecting a 4.3% y/y increase, while interest expenses declined by 6.3% y/y to PLN 66.33 billion. Fee and commission income rose by 3.2% y/y to PLN 26.22 billion, whereas fee and commission expenses slightly decreased by 0.5% y/y to PLN 6.71 billion. At the same time, administrative costs increased by 11% y/y, reaching PLN 50.76 billion. Loan impairment provisions totaled PLN 6.29 billion, marking an 11.6% y/y decline.
The strong profit growth was driven by higher net interest income and lower loan impairment provisions, despite rising administrative expenses.
(ISBnews)
