Alior Bank (ALR) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached PLN 1.5 billion, up 2% year-over-year, with net profit at PLN 403 million, down 15% mainly due to higher corporate income tax.

• Achieved dynamic deposit growth (+9% YoY to PLN 85.4bn) and mortgage loan sales (+84% YoY to PLN 1.8bn).

• Maintained strong cost discipline with a cost-to-income ratio of 37.8% and ROE at 13.8%.

• Received S&P investment grade rating (BBB-/A-3, stable outlook), supporting Eurobond issuance plans.

• Dividend payout recommended at PLN 8.93 per share, maintaining a 50% payout ratio.

Financial highlights

• Deposits grew 9% YoY to PLN 85.4 billion; total assets increased 8% to PLN 104.7 billion.

• Gross performing loans rose 7% YoY; mortgage loan sales surged 84% to PLN 1.8 billion.

• Net interest income fell 3% YoY to PLN 1.25 billion; net commission income rose 6% YoY to PLN 221 million.

• Operating expenses increased by only 2% YoY; operating costs (ex-BFG) rose just 1% YoY to PLN 544 million.

• Mobile app users grew 19% YoY; 44% of sales now via mobile.

Outlook and guidance

• Aims to further increase commission results by 4% in 2026, leveraging growth in relational customers.

• Expects continued growth in mortgage and consumer loans, and stable business client portfolio with improving mix.

• Plans to maintain cost growth at or below inflation; risk costs expected to remain below 0.8%.

• Strategy targets further NPL reduction below 5% by end-2026.