Erste Bank Polska (SPL) Q3 2026 earnings summary

Executive summary

• 9M total income rose 0.9% YoY to PLN 12.113bn; attributable profit was PLN 3.691bn, down 24.5% on the continuing-operations comparison, amid higher costs and bank taxes.

• Gross loans grew 11% YoY to PLN 183bn, deposits rose 14% to PLN 252bn and total customer funds increased 15% to PLN 287bn.

• Q3 net profit rose 27% QoQ to PLN 1.5bn; capital and liquidity remained strong, with TCR of 18.75% and LCR of 187.3%.

Financial highlights

• 9M net interest income was PLN 9,467.5m, down 0.9% YoY; net fee and commission income was PLN 2,182.5m, down 0.6%.

• 9M total income reached PLN 12,113.2m, up 0.9%; other income rose 76.5% to PLN 463.2m, led by trading and revaluation gains.

• PBT was PLN 6,024.1m, down 6.4%; attributable profit was PLN 3,691.1m, down 24.5% on a continuing-operations comparison. Q3 net profit rose 27% QoQ to PLN 1.5bn.

• Total costs rose 21.3% to PLN 4,375.3m; integration and rebranding costs were PLN 384.3m and BFG contributions PLN 435.9m. Underlying costs excluding these items rose 8.6%.

• Net expected credit-loss allowances declined 16.5% to PLN 367.1m; Q3 total income was PLN 4.1bn, stable QoQ and up 2% YoY.

Outlook and guidance

• 2027 loan growth is expected to remain strong, potentially high-single-digit or double-digit, focused on individual customers, consumer lending and SMEs.

• Cost of risk guidance for coming quarters and 2027 is 30–40 bps, conditional on a positive macroeconomic outlook; 2027 costs are expected to rise below inflation.

• Next-quarter results may be affected by geopolitical developments, energy prices, inflation, NBP rate decisions, Poland’s fiscal position and external euro-area demand.

• A 1% rate decrease would reduce NII by PLN 300m over four quarters; slightly longer investment-book duration is intended to stabilize margins.