Polish banking sector has hit a new record with the net profit of PLN 15.7bn it has made during the last twelve months. Polish Financial Supervisory Authority (KNF) has announced sector’s 2011 financial results, which appeared to surpass the most optimistic estimates. The results shown nearly 40 per cent increase compering to the same period of 2010, when the industry recorded a net profit of PLN 11.7bn. KNF however advises putting off paying dividends for last year. According to the report, 2011 has also saw the number of five major mergers with the biggest players such as PKO BP, Pekao, BRE Bank, ING and BZ WBK holding 44.3 per cent share in the market, up from 43.8 per cent it has been controlling in 2010.
