Bank Polski (PKO) Q4 2025 earnings summary

Executive summary

• Achieved record net profit of PLN 10.7 billion in 2025, up 14.8% year-over-year, including PLN 4.4 billion in CHF legal risk provisions.

• Customer base grew by 327,000 to 20.5 million, with double-digit growth in savings, financing, and total assets.

• Maintained strong market shares in retail and corporate segments, with significant expansion in digital and ecosystem partnerships.

• Maintained strong capital base with CET1 ratio at 15.57% and ROE at 19.5%.

• Cost/income ratio at 31.1% and cost of risk at 30 bps, reflecting high efficiency and stable asset quality.

Financial highlights

• Net profit reached PLN 10.7 billion, including provisions for Swiss franc loans.

• Net interest income grew by 8.3% y/y; net interest margin at 4.76% for the year.

• Fee and commission income increased by 2.4% y/y, with Q4 growth accelerating to 8.5% y/y.

• Total assets increased to PLN 583 billion; equity rose to PLN 59 billion.

• Double-digit growth in loan portfolio and customer savings; investment fund assets up 45% year-over-year.

Outlook and guidance

• Expecting continued single-digit growth in lending across key segments.

• Anticipate stable macroeconomic environment with inflation rising to 3.5% but within normal range.

• Expect further acceleration in market volume growth in 2026, supported by favorable macro conditions and EU funds.

• Net interest income sensitivity to falling rates to be reduced; strong growth in mutual fund assets anticipated.

• Operating costs to rise with continued investment; income tax burden to increase due to higher statutory rate.