WARSAW, Oct 31 (Reuters) - The Polish banking sector’s aggregated net profit fell in the fourth quarter by almost 3 percent year-on-year, as lower interest rates and credit card fees squeezed margins, data from regulator KNF showed on Monday.
The local banks’ net profit fell to 3.26 billion zlotys ($882 million), KNF said.
Three of Poland’s top 10 banks: mBank, owned by German Commerzbank, Millennium, owned by Portugal’s BCP, and BZ WBK, controlled by Santander , have already presented their results.
Two of them booked earnings above forecasts, one came in below analysts’ estimates. Their net profit fell by almost 8 percent on average.
The two biggest Polish banks, state-controlled PKO, and UniCredit’s Polish arm Pekao, are due to publish results over the next two months. ($1 = 3.6958 zlotys) (Reporting by Marcin Goclowski; Editing by Adrian Krajewski)