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Net financial result of banking sector up by 11.8% y-o-y in Q1


2012-05-11



The net financial result of the banking sector amounted to PLN 4.23bn (approx. €1bn) in the first quarter of 2012, which translates into an increase of 11.8% compared with the same period of the previous year, according to preliminary data from the Financial Supervisory Commission (KNF).

The net result of domestic commercial banks rose 7.9% y-o-y to PLN 3.82bn (€902.4m), that of cooperative banks jumped by 31.1% y-o-y to PLN 307.4m (€72.6m).

At the same time, the sector’s capital adequacy ratio slightly deteriorated to 13.81% from 13.88% in Q1 2011.

At the end of March the total value of loans stood at PLN 794.4bn (€187.7bn), an increase of 12.5% compared with the same period a year earlier. Household loans rose 9.8% y-o-y to PLN 523.8bn (€123.8bn), whereas business loans increased by 17.9% y-o-y to PLN 266.3bn (€62.9bn).

The value of bank deposits, at PLN 686.3bn (€162.1bn), was 10.7% higher than in Q1 2011. Household deposits rose 11.9% y-o-y to PLN 485.8bn (€114.8bn), whereas business deposits went up by 8.2% y-o-y to PLN 184.8bn (€43.7bn).

Employment in the sector decreased by 0.5%, or nearly 860 employees, to 176,705. The branch network, at 7,012 outlets, was roughly unchanged from a year earlier.



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