Alior Bank (ALR) investor relations material

Executive summary

• Q3 revenue was PLN 1.518bn, down 1% YoY; reported net profit was PLN 448.7m versus PLN 548.7m a year earlier.

• 9M net profit was PLN 1,225.7m, down from PLN 1,681.0m, amid higher credit losses and a higher bank tax rate.

• Assets rose 11% YoY to PLN 108.3bn, deposits 11% to PLN 89.5bn and performing loans 6% to PLN 67.0bn.

Financial highlights

• Q3 net interest income was PLN 1,282.4m versus PLN 1,271.6m; net fee and commission income was PLN 202.4m versus PLN 195.6m.

• 9M net interest income was PLN 3,599.7m versus PLN 3,795.7m; net fee and commission income rose to PLN 581.9m from PLN 554.4m.

• 9M gross profit was PLN 1,945.6m versus PLN 2,184.6m; comprehensive income was PLN 812.2m versus PLN 2,155.3m.

• Q3 operating expenses were PLN 575m, up 2%; net expected credit losses fell 41% to PLN 74m, while FX-mortgage legal-risk costs rose 31% to PLN 54m.

• The 2026 bank tax rate rose from 19% to 30%; the 9M effective tax rate was 37.0% versus 23.05%.

Outlook and guidance

• Credit-risk costs are expected not to exceed 0.8% in coming years, assuming no significant macroeconomic changes.

• 2026 operating-cost growth excluding BFG costs is expected to be no higher than inflation.

• 2026 forecasts include GDP growth of 3.8%, investment growth of 8.9%, loan growth of 7.5% and deposit growth of 9.1%.

• Credit recovery is expected to continue through 2026–27, peaking in 2026; deposits are expected to grow faster than loans.