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Fitch: High profits for Polish banks
Fitch Ratings said preliminary results have confirmed record-high profitability for the Polish banking sector in 2007. However, challenges still exist in 2008.
Strong business volume growth with stable margins and good non-interest income generation ability resulted in revenue growth, the agency said. This growth was large enough to accommodate operating cost growth related to expansion and rising pressures on personnel costs, Fitch said.
However, the 2007 statutory accounts also show rising pressures on funding/liquidity and capitalization, which, coupled with the possible slowdown in real estate financing, may result in slower lending growth, the agency said This may limit the possibility of further profitability improvement if aggressive risk pricing continues and the flow of savings to mutual funds slows down, Fitch said.
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