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Net financial result of banking sector up by 1.9% y-o-y in H1


The net financial result of the banking sector amounted to PLN 7.94bn (approx. €1.87bn) in the first half or 2012, which translates into an increase of 1.9% 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 declined by 2.3% y-o-y to PLN 7.21bn (€1.7bn), while that of cooperative banks jumped by 19.1% y-o-y to PLN 550.6m (€129.7m). At the same time, the sector’s capital adequacy ratio slightly deteriorated to 13.62% from 13.71% a year earlier.

At the end of June, the total value of loans stood at PLN 811.1bn (€191.1bn), an increase of 9.9% compared with the same period a year earlier. Household loans were worth PLN 535.4bn (€126.1bn), up 7.6% y-o-y, whereas business loans amounted to PLN 271.4bn (€63.9bn), up 14.6% y-o-y.

The value of bank deposits, at PLN 693.8bn (€163.4bn), was 10.6% higher than in H1 2011. Household deposits rose 12.9% y-o-y to PLN 492.2bn (€115.9bn), while business deposits increased by 5.1% y-o-y to PLN 185.1bn (€43.6bn).

Employment in the sector stood at 176,070 at the end of H1. This means that banks shed 1,720 jobs during the year to June, a decrease of about 1% y-o-y.

The branch network increased by a net of 286 outlets to 7,271.

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