The Polish banking sector posted a net profit of 11.63 billion PLN (3.08 billion U.S. dollars) in January-September this year, up 10.8 percent year on year, the Polish Financial Supervision Authority (KNF) said in a report Thursday.

The data took into account the amendments to the International Financial Reporting Standards (IFRS) which were introduced at the beginning of 2018, KNF said.

In September alone, the banks' net profit amounted to 1.2 billion PLN (317.6 million U.S. dollars), up 4.0 percent year on year.

Interest income increased by 8.7 percent to 34.22 billion PLN (9.06 billion dollars) in the first nine months of the year, said KNF.

The banks' costs went up 6.0 percent to 26.12 billion PLN (6.91 billion dollars).

Impairments amounted to 6.02 billion PLN (1.59 billion dollars) in January-September and were 5.8 percent higher on the previous year, said the report.