Bank profits to increase

21st May 2010

Despite the woes of the world economic system, Poland’s banks managed to roll with the punches in 2009 and this year figures suggest that they should even experience some vibrant growth.

A statement by KNF, Poland’s financial regulator, said that Polish banks should see profits increase by almost a third in 2010, owing in large part to a decrease in provisions for bad debts and an increase in interest income and fees.  

“As a consequence of improved conditions, the net result (of the banking sector in 2010) will rise by about 30 percent,” said the statement that was released on May 17.

The regulator also expects provisions to fall by 6 percent this year, but it sees net in ...