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Net financial result of banking sector up by 40.7% y-o-y in Q1-Q3


In the first three quarters of 2011 the net financial result of the banking sector amounted to nearly PLN 11.98bn (approx. €2.98bn), which represents an increase of 40.7% 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 declined to 13.18% from 13.92% a year earlier.

At the end of September the total value of loans stood at PLN 780.7bn (€194.3bn), up by 14.2% over the same period of 2010. Household loans rose 14.6% y-o-y to just over PLN 526bn (€130.9bn), whereas business loans went up by 13.2% y-o-y to PLN 250.8bn (€62.4bn).

Simultaneously, the value of bank deposits rose 10.8% y-o-y to PLN 650.6bn (€161.9bn). Household deposits went up by 12% y-o-y to PLN 453.1bn (€112.8bn), whereas business deposits grew by 8.9% y-o-y to PLN 181.6bn (€45.2bn).

Employment in the sector amounted to 177,940 at the end of September, up by 0.5% over a year earlier. The branch network expanded by 1.5% y-o-y to 7,037 outlets.

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