The contribution of Corporate and Investment Banking in the Group’s results rose to 33.1% from 30.4% a year earlier. The increase was driven by higher income (up by 6% year on year) coupled with lower operating expenses.
The Corporate and Investment Banking segment generated a profit before tax of PLN 505.6 million in 2017, which represents an increase by 1.4% year on year. Total overhead costs (including amortization) decreased by 4.9% in the analysed period. At the same time, the net impairment losses on loss and advances increased by 119.6% in 2017. The low level of provisions reported in 2016 was caused by the release of credit risk provisions related to the sale of non-performing receivables and payment of the loan insurance by KUKE (Export Credit Insurance Corporation).