Very good results for Polish banking sector in 2010 - According to the Polish Financial Sector Supervisory Authority (PFSA), Polish banks experienced a 41% increase in net profits in 2010. In March 2011, the biggest Polish bank, PKO Bank Polski, experienced a 40% rise in net profits (€802 3 million). In the fourth quarter of 2010, the publicly owned bank saw its profits grow by 68%, mainly due to a reduction in its costs and improved stocks. Its rate of bad debts remained stable at 8% of its assets. Overall, 2010 was a bumper year for Polish banks. The net profits for BRE Bank, the subsidiary of the German Commerzbank group, grew by 400% to €161 4 million. Getin Noble Bank made net profits of €105 9 million as opposed to €69 4 million in the previous tax year. With 1.1 million customers and 5.2% market share of deposits and 6.5% for loans, Bank Millennium Grogan made a net profit of €82 million, as opposed to a profit of barely €377 000 in 2009. The Polish market is also being eyed up by foreign groups. Two local players were taken over in recent months by international players - Bank Zachodni (BZ) by Santander for €2.9 billion, and Polbank by the Austrian Raiffeisen Bank International for €490 million. Poland has an 84% rate of bank assets in comparison to its GDP and is therefore still significantly below the eurozone average which has reached 270%. This market is therefore nowhere near saturation point, explained one expert. (I.L./transl.fl)