The net financial result of the banks in the period January-September 2023 amounted to PLN 21.2 billion. This is an increase of 283.5%. per year – reported the Polish Financial Supervisory Authority.
“The net financial result at the end of September 2023 amounted to PLN 21.2 billion. This result was PLN 15.7 billion (+283.5% y/y) higher than the result achieved at the end of September 2022 and PLN 2.5 billion higher than the result achieved at the end of August 2023 (+13.2% m/m) ,” according to KNF data published by the ISB News Agency on Thursday.
At the end of September 2023, the total loss reported by commercial banks amounted to PLN 6 billion. The assets of these banks represented approximately 1.2 percent. sector assets. The remaining banks in the sector reported a total profit of PLN 28.9 billion.
Banking sector profits. The interest rate goes up, the commission and costs go down
In the period January-September this year. interest income amounted to PLN 72.61 billion (+32.6% annualized), and commission income reached PLN 13.97 billion (-0.8% annualized). Operating costs amounted to PLN 33.8 billion (-2.4% year-on-year).
Depreciation (depreciation or reversal of impairment) amounted to PLN 5.12 billion (-27% annualized).
The banking sector’s ROE (Return on Equity) indicator stood at 13.47% at the end of September. (+11.92 percentage points y/y, +1.86 percentage points m/m) and the ROA (Return on Assets, i.e. the index of asset profitability – ed.) reached 0.91%. (+0.82 percentage points y/y, +0.15 percentage points m/m).
The net interest margin (NIM) was 3.79 percent at the end of September. compared to 3.75 percent a month earlier and 2.88 percent a year earlier.
At the end of June 2023, the capital adequacy indicators of the sector were at the level of 21.68%. (TCR) and 19.95 percent (T1).
How many banks are active in Poland?
According to data from the Polish Financial Supervisory Authority, at the end of September 2023, 29 commercial banks, 492 cooperative banks, 34 branches of credit institutions and foreign banks were operating.
Source: Do Rzeczy
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
