Almost 160 percent growth. We know the banks’ financial result for 2023

Luc Williams

The net financial result of banks amounted to PLN 27.88 billion in the period January-December 2023, which means an increase of 159.4% y/y, the Polish Financial Supervision Authority (KNF) reported.

Net financial result at the end of December 2023 it amounted to PLN 27.9 billion. This result was PLN 17.1 billion higher (+159.4% y/y) than the result achieved at the end of December 2022 and PLN 14.9 million higher than the result achieved at the end of November 2023 (+0.1% m /m)” – we read in the presentation.

At the end of December 2023, the total loss reported by commercial banks amounted to PLN 6.4 billion. The assets of these banks accounted for approximately 1.3% of the sector’s assets. The remaining banks in the sector reported a total profit of PLN 36.8 billion, it was reported.

During the period January-December 2023 In 2017, interest income amounted to PLN 98.38 billion (+29.3% y/y), and commission income reached PLN 18.68 billion (+1.2% y/y). Operating costs amounted to PLN 45.76 billion (+1.1% y/y).

Write-offs (impairment or reversal of impairment) amounted to PLN 7.15 billion (-23.2% y/y).

The banking sector’s ROE at the end of December was 12.91% (+6.13 percentage points y/y, -0.11 percentage points m/m), and ROA reached 0.97% (+0.57 percentage points . y/y, +0.08 percentage points m/m), also included in the presentation.

Net interest margin (NIM) was 3.84% at the end of November, compared to 3.82% a month earlier and 3.2% a year earlier.

At the end of September 2023, the sector’s capital adequacy ratios were 22.03% (TCR) and 20.35% (T1).

At the end of December 2023, the following activities were conducted: 29 commercial banks, 492 cooperative banks, 34 branches of credit institutions and foreign banks.



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