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Net financial result of banking sector up by 26% y-o-y in Q1-Q3


The net financial result of the banking sector amounted to PLN 8.6bn (approx. €2.1bn) in the first nine months of 2010, which translates into an increase of 25.9% compared with the corresponding period of the previous year, according to preliminary figures from the Financial Supervisory Commission (KNF). The sector's capital adequacy ratio also improved considerably, to 13.9% from 12.2% at the end of September 2009.

The total value of loans rose 6.4% y-o-y during Q1-Q3, on the back of a 12.3% y-o-y increase in the value of household loans. By contrast, business loans were down by 4.5% y-o-y. The share of non-performing business loans rose to 11.9% from 9.1% in January-September 2009, whereas non-performing household loans represented 7.1% of the total, up from 5.3% a year earlier.

At the same time, the value of bank deposits increased by 10.7% y-o-y. Here, the business sector was the stronger engine of growth, with business deposits up by 14.7% y-o-y, compared with 9.1% y-o-y for household deposits.

There were 646 banks operating on the market in Q1-Q3, down from 647 a year ago. The branch network expanded by 79 outlets to 14,693. Employment in the sector inched up by 0.5% y-o-y to 177,985.

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