A report released on Thursday by the Financial Supervision Commission shows that the cooperative savings and credit, operating in 2014. Showed a total net loss of 129.4 million zł – compared to a loss for 2013. EUR 61 million zł.
The total financial result of banks operating at the end of 2014. decreased compared to 2013. by approx. 65.7 million zł – notify the Financial Supervision Authority. The whole sector unions on the other hand showed a loss for 2014 in the amount of 768.9 million zł compared to a loss for 2013 in the amount of 128.2 million zł – says the report.
As the Commission points out, the report contains data on the the situation in the cooperative savings and credit as at 31 December 2014., and also presents the results of banks for the year 2013, verified by the auditors.
– Data presented for 2014 are developed on the basis of information provided by Cash reporting data that have not yet been verified by the auditors. Not all cash take into account in its reporting of comments and objections submitted after the Financial Supervision Authority carried out checks in them. Therefore, the final figures may differ materially from the preliminary data submitted in reporting – we read in the information.
Data certain banks still do not include adjustments
It also concludes that the data of some banks still do not include adjustments resulting from the findings of the inspection PFSA. As at 31 December 2014. These adjustments would result in a reduction of earnings of 631 million zł and fall in the value of equity to 289 million zł – notify the Financial Supervision Authority. At the end of 2014., As highlighted in the information, 41 offices and were covered by the National Association proceedings repair, with only 7 banks have a recovery program approved by the Commission.
However, the situation in terms of cash liquidity was good – KNF stresses. In 2014. Violation of standards for the level of compulsory reserves of liquid occurred in individual cases. Kasa take action to bring their activities into compliance with the requirements of the Act in this regard.
increase in operating expenses
The Commission acknowledges that the financial results of banks negatively affected by the increase in operating costs resulting from the deteriorating quality of the loan portfolio and the related need to create write-downs , offsetting the identified risk. Positive impact on the sector was while improving the profitability of the actions of some banks, which is the result of ongoing repair processes – the Commission points out.
Another was the situation in cooperative banks, which are also KNF annual information published on Thursday. It shows that in 2014. Financial results of cooperative banks increased by 4.0 percent. compared with 2013. (though remaining at 80 percent. Results of 2012.).
Zbigniew Jagiello, CEO of PKO BP: banks do not want to answer financially for the problems of cash.
Source: Newseria
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