Net earnings of Poland's banking sector decreased by 5.6% y/y to PLN 14.04bn ( EUR 3.38bn ) in January- November of 2013 (vs. growth of 4.0% in the entire 2012), according to the data of the National Bank of Poland (NBP). The result on banking operations result was down by 6.4% y/y to PLN 50.56bn. The net interest result declined by 5.9% y/y to PLN 30.72bn. Total costs went down by 1.0% to PLN 25.00bn. At that time, net provisions and valuation allowances decreased by 8.9% to PLN 6.70bn. It is worthwhile to note that the market consensus is a drop of the sector's net earnings of 10-15% y/y in the entire 2013, though individual banks - especially the largest institutions - claim they will be able to beat this trend.
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