NBP: Banking sector's net earnings in Poland fall by 2.5% y/y in January-September

By bne IntelliNews October 31, 2013

Net earnings of Poland's banking sector decreased by 2.5% y/y to PLN 11.79bn (EUR 2.82bn) in January- September of 2013 (vs. growth of 4.0% in the entire 2012), according to the data of the National Bank of Poland (NBP).
The result on banking operations result was down by 6.5% y/y to PLN 41.36bn. The net interest result declined by 7.6% y/y to PLN 24.77bn. Total costs went down by 0.6% to PLN 20.48bn.
At that time, net provisions and valuation allowances decreased by 12.3% to PLN 5.43bn.
It is worthwhile to note that the market consensus is a drop of the sector's net earnings of 10-15% y/y in the entire 2013, though individual banks - especially the largest institutions - claim they will be able to beat this trend.

Related Articles

EU top court rules Poland broke law by logging in ancient forest

Poland broke EU law by increasing logging in the ancient Bialowieza Forest under a pretext of fighting spruce beetle, the Court of Justice of the European Union (CJEU) ruled on April 17. The ... more

S&P raises Poland’s outlook to positive on rosy prospects of economy in 2018

Standard and Poor’s raised its outlook for Poland from stable to positive on April 13, while maintaining the country’s rating at BBB+.  The raising of the outlook is based on ... more

Finland gives final nod to construction of Nord Stream II

Finland has issued a second and final permit for the construction of the controversial Nord Stream II pipeline that is to pump gas from Russia directly to Germany via a Baltic Sea route, the Regional ... more

Dismiss