Poland's top bank PKO strengthens capital position - EBA

WARSAW Mon Dec 16, 2013 2:15pm EST

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WARSAW Dec 16 (Reuters) - Poland's largest bank, state-controlled PKO BP, has strengthened its capital position since last year, data from the European Banking Authority (EBA) and the Polish financial watchdog KNF showed on Monday.

Data on European banks compiled by the EBA showed that PKO's Tier 1 capital ratio rose to 12.5 percent as of June 2013 from 12.0 percent in December last year, well above the 9 percent recommended by the EBA.

PKO was the only Polish bank that took part in the EBA exercise.

Poland's financial supervisor KNF, commenting on the results, added that Polish banks' combined net profit remained close to all-time highs and the sector has increased its capital strength over last year.

"Poland's financial system remains one of the most stable in Europe," KNF said in a statement.

KNF said Polish banks had increased their capital by 8.5 percent and assets by 5.3 percent since the beginning of the year. (Reporting by Marcin Goettig; editing by Tom Pfeiffer)

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