Net profit in banking sector Jan-Nov ‘24 amounted to PLN 39.76 bln
The Polish banking sector's net profit for January-November 2024 was PLN 39.76 billion, a 44.3% y/y increase, with November alone contributing PLN 4.56 billion, according to the National Bank of Poland (NBP).
Net operating income rose 14.1% y/y to PLN 119.8 billion. Interest income grew by 3.9%, while interest expenses fell by 7.4%. Revenue from fees and commissions increased by 3.2%, while related costs dropped by 1.5%.
Administrative costs reached PLN 46 billion, 11.45% higher y/y, driven by a 13.7% rise in employee costs and an 8.8% increase in other administrative expenses. Impairment charges fell 4.6% to PLN 5.7 billion, while reserves decreased significantly by 30.8% to PLN 8.97 billion.
