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Net financial result of banking sector up by 0.6% y-o-y in Q1-Q3


The net financial result of the banking sector amounted to PLN 12.03bn (approx. €2.86bn) in the first nine months of 2012, which translates into an increase of 0.6% 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 decreased by 1% y-o-y to PLN 11bn (€2.61bn), whereas that of cooperative banks increased by 12.6% y-o-y to PLN 826.5m (€196.3m). At the same time, the sector’s capital adequacy parameters improved compared with a year earlier. The overall capital adequacy ratio stood at 14.04% at the end of September, up from 13.19%; while the Tier 1 ratio amounted to 12.66%, up from 11.83%.

At the end of September, the total value of loans was PLN 813.4bn (€193.2bn), an increase of 4.2% y-o-y. Household loans were worth PLN 532.6bn (€126.5bn), up 1.2% y-o-y, whereas business loans amounted to PLN 276.2bn (€65.6bn), up 10.1% y-o-y.

The value of bank deposits, at PLN 695.7bn (€165.3bn), was 6.9% higher than in Q1-Q3 2011. Household deposits rose 10.1% y-o-y to PLN 498.9bn (€118.5bn), while business deposits decreased by 1.1% y-o-y to PLN 179.7bn (€42.7bn).

Employment in the sector stood at 175,183 at the end of the third quarter. This means that banks shed 2,753 jobs during the year to September, a drop of about 1.5%.

At the same time, the branch network increased by a net of 309 outlets, to 7,348.

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