Polish banks with nearly PLN 14 bln profits last year – KNF

The Polish bank sector had PLN 13.91 billion in net profits last year, according to data released by the financial authority watchdog KNF, which is a 24.3 percent increase y/y. Such good result is mostly from the sales of Visa Europe to Visa Inc., which Polish banks got some PLN 2 billion from. Income from interest reached PLN 38.06 billion (7.6 percent growth) while profits from provisions fell by 5.4 percent to PLN 12.6 billion. According to most experts, without the boost from Visa Europe sales and latest regulations concerning banking sector in Poland (banking tax, Swiss Franc denominated housing loans, etc.) such good result in 2017 will be impossible to beat or even maintain.