The net profit of the banking sector together with foreign branches amounted to PLN 7.77 billion in the period January-December 2020 and was lower by 43.8 percent per year, according to the data of the Polish Financial Supervision Authority (KNF).
The net interest income dropped by 4.3 percent to PLN 47.02 billion, while the commission result reached PLN 14.85 billion and was 11.1% higher on an annual basis. The operating result decreased by 36.6 percent y/o/y to PLN 12.28 billion.
Banks’ operating expenses decreased by 0.4 percent y/y to PLN 34.68 billion in January-December. In the item “impairment or reversal of impairment” (ie write-offs), the result was PLN 12.73 billion (an increase by 33 percent y/y). In September 2020, the sector’s capital adequacy ratios amounted to 20.42 percent (TCR) and 18.4 percent (T1).
Source: ISBnews
