Poland’s banking sector posted a PLN 15.63 billion (EUR 3.53 bln) combined net profit in the first six months of 2023, a 49 percent increase year on year.

The sector also suffered a PLN 1.29 billion (EUR 290 mln) combined net loss in June, according to Central Bank data.

For the period January-June the sector’s total net revenues stood at PLN 54.4 billion (EUR 12.2 bln), up by 15 percent year on year, while administrative costs reached PLN 22.7 billion (EUR 5.12 bln), down by 4.3 percent year on year.

Total provisions stood at PLN 3.6 billion (EUR 810 mln), up by 3 percent year on year.