Haitong Bank's analyst underlines in his interview with the news agency that due to the good macroeconomic situation in the first quarter of 2017, banking sector risk costs were the lowest for two years. According to Kamil Stolarski, a very optimistic sentiment on the Polish capital market and a clear improvement in WIG quotations in the first quarter also contributed to the good performance of the sector. Surprisingly, the results of banks were dominated by two factors - better commission income and lower risk costs.
According to the analyst, the banking sector’s results for the whole 2017 will be better than in 2016, despite high reference base. Stolarski adds that the key factor in Q2, in terms of net profits, will be significantly lower costs related to Bank Guarantee Fund obligations than in Q1 – PLN 200-300m vs PLN 1.5bn.
The video of the interview is available here (Polish only)