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Net financial result of banking sector up by 44% y-o-y in H1


2011-08-07



The net financial result of the banking sector amounted to just under PLN 7.85bn (approx. €1.98bn) in the first half of 2011, which translates into an increase of 43.5% compared with the same period of the previous year, according to preliminary data from the Financial Supervisory Commission (KNF). At the same time, the sector’s capital adequacy ratio improved to 13.71% from 13.33% a year earlier.

At the end of June the total value of loans stood at nearly PLN 738bn (€186.7bn), an increase of 8.4% over the same period of 2010. Thus was mainly thanks to a 9.3% y-o-y rise in household loans, to PLN 497.6bn (€125.9bn), though business loans were also up on a year ago, by 6.3% y-o-y to PLN 236.8bn (€59.9bn).

Simultaneously, the value of bank deposits rose 7.4% y-o-y in H1 to PLN 627.1bn (€158.6bn). Business deposits went up by 5.2% y-o-y to PLN 176.2bn (€44.6bn), whereas household deposits grew by 8.6% y-o-y to PLN 435.8bn (€110.2bn).



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