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Net financial result of banking sector up by 41% in 2010


2011-03-02



The net financial result of the banking sector amounted to just under PLN 11.7bn (approx. €2.9bn) in 2010, which translates into an increase of 40.9% compared with the year before, according to preliminary figures from the Financial Supervisory Commission (KNF).

At the end of 2010, the total value of loans stood at PLN 698.5bn (€174.9bn), up by 8.9% versus a year earlier. This was thanks to a 14.2% increase in household loans, to PLN 475.4bn (€119bn), while business loans were down by 1.1% to PLN 219.7bn (€55bn).

At the same time, the value of bank deposits rose by 9.4% in 2010 to PLN 620.4bn (€155.3bn). Business deposits rose by 10.7% to PLN 182.8bn (€45.8bn), whereas household deposits grew by 8.9% to PLN 422.4bn (€105.7bn).

Employment in the sector increased by 1.3% to almost 176,900. The branch network expanded by almost 450 outlets, or 6.9%, to 6,958 outlets.



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