Profits in Polish banks up slightly

An injection of cash from a re-sale in shares of Visa Europe helped the banking sector to improve its net profits during the first nine months of 2016, according to a report on Tuesday from the Polish Press Agency. Overall, profits inched up by .27 percent in comparison to the same period in 2016. PKO, which held one-fifth of the total profits, reported a net increase of PLN 2.3 billion. This was an increase of PLN 700 million in profit over the period, according to Gazeta Wyborcza. The PLN 11.42 billion net profit increase came in spite of a new bank tax imposed this year.