Erste Bank Polska (SPL) investor relations material

Executive summary

• Net profit for H1 2026 was PLN 2.2 billion, down 29% year-over-year, mainly due to higher legal risk, tax, and integration costs, but supported by strong customer acquisition, digital engagement, and rapid brand awareness growth.

• Completed first full quarter as Erste Bank Polska, with successful rebranding, integration, and high employee engagement.

• Maintained robust capital and liquidity positions, with capital ratios significantly above regulatory requirements.

• Dividend of PLN 49.98 per share declared, with a total payout of PLN 5.1 billion.

Financial highlights

• Net interest income for H1 2026 was PLN 6.16 billion, down 3% year-over-year; net fee income rose 5% to PLN 1.54 billion.

• Total income for H1 was PLN 8.1 billion, up 1% year-over-year, despite a 2pp decline in interest rates.

• Gross loans grew 8% year-over-year to PLN 177 billion; total assets up to PLN 323 billion.

• Operating expenses rose 22% year-over-year, driven by integration, rebranding, and regulatory costs.

• Cost of credit risk remained low at 0.35%; NPL ratio improved to 3.6%.

Outlook and guidance

• Loan growth forecasted at 7–7.8% for 2026, with slightly lower growth in 2027 as investment peaks.

• Continued focus on digital transformation, customer acquisition, and sustainable finance.

• Cost discipline to continue, with integration and rebranding costs capped at PLN 500 million for 2026.

• Cost of risk expected to remain within 35–40 basis points if macro conditions hold.

• Management expects continued monitoring of legal risks and macroeconomic volatility.