ING Bank Slaski (ING) investor relations material

Executive summary

• Q3 gross result was PLN 1.7bn; 9M gross profit reached PLN 4,962m, up 17% YoY. Q3 net profit was PLN 1,133m (+2%); 9M net profit was PLN 3,149m (-3%).

• 9M income from basic activities increased to PLN 9,422m from PLN 8,765m; client deposits and loans grew 15% and 9% YoY.

• Cumulative ROE adjusted for macro cash flow hedge was 19.7%, versus 21.0% a year earlier.

Financial highlights

• Q3 net interest income was PLN 2,444m (+11% YoY, +5% QoQ); net fee and commission income was PLN 692m (+16% YoY, +2% QoQ).

• 9M income rose 7% to PLN 9,434m and operating costs including banking tax rose 6%; 9M net interest income was PLN 7,107m and net commission income PLN 1,966m.

• Q3 profit before tax rose 20% YoY to PLN 1,746m; income tax was PLN 613m, up 76%.

• Q3 risk costs were PLN 73m versus PLN 251m a year earlier; 9M aggregate cost of risk was 24 bps, or 0.24% adjusted for CHF-related effects.

• Cost-to-income excluding banking tax was reported at 37%, improving 47 bps; the 9M ratio including bank levy was 42.4%.

Outlook and guidance

• Client acquisition remained on track toward the Beat of Life target of 7.5m clients by 2035; 9M acquisition matched the prior full year.

• Corporate investment and refinancing transactions, including nuclear-related projects, were in the pipeline; public-project lending impact was expected later, not in 2026.

• Poland GDP growth was forecast at least 3.4% in 2026, with investment growth of 8%; household consumption growth was forecast to slow to 3.0%.

• New variable-rate loan applications moved to POLSTR from 28 September; WIBOR applications filed by 31 December could still be originated, while new generation must use POLSTR from 1 January 2027.