Polish profits slide

Polish banks reported net profit fell 11.6 per cent in the first quarter from the same period last year to 1.3 billion zloty (about HK$3.09 billion), the Central Statistical Office says.

The report, based on results of 84 state-owned and private banks, said the decline stemmed from the National Bank of Poland's decision to raise mandatory reserve requirements for zloty and foreign-exchange deposits in January.