Poland’s banking sector has hit a new record with the net profit of PLN 15.7bn it made over the last twelve months. The Polish Financial Supervisory Authority (KNF) announced the sector’s 2011 financial results, which appear to have surpassed even the most optimistic estimates, with a nearly 40 percent increase compared to the same period in 2010, when the sector recorded a net profit of PLN 11.7bn. However, KNF has advised against paying out dividends for last year just yet. According to a report, 2011 also saw substantial consolidation, with the biggest players such as PKO BP, Pekao, BRE Bank, ING and BZ WBK now holding 44.3 percent share in the market. That’s up from the 43.8 percent the grouping controlled in 2010.
