Santander Bank Polska (SPL) Q2 2025 earnings summary

Executive summary

• Net profit for H1 2025 reached PLN 3.1bn, up 25% year-over-year, with gross profit at PLN 4.1bn and strong growth in net interest and fee income.

• Announced sale of controlling stake in SBP to Erste Group and 60% of SCB shares to Santander Group, expected to close by year-end, marking a major transaction in Polish banking history.

• Discontinued operations (Santander Consumer Bank Group) reported a net loss of PLN 327.4m attributable to owners in H1 2025, impacting financial result presentation.

• Customer funds rose to PLN 247bn, with deposits up 10% and investment funds up 20% year-over-year.

• Digital and mobile customer activity continued to grow, with digital customers up 6% and mobile customers up 9% year-over-year.

Financial highlights

• Net interest income for H1 2025 was PLN 6.4bn, up 7% year-over-year; net fee and commission income reached PLN 1.5bn, up 6% year-over-year.

• Total income increased by 8% year-over-year to PLN 8bn; cost-to-income ratio at 30.9%.

• Earnings per share from continuing operations increased to PLN 30.13 (diluted) from PLN 24.01 year-over-year.

• Return on equity for continued operations was 21.9%; net interest margin at 4.94% for H1 2025.

• NPL ratio at 3.9%, with stable portfolio quality and no increase in new NPLs.

Segment performance

• Retail banking: 4.8 million personal accounts, up 2% year on year; 212,000 new accounts opened in H1.

• Cash loans issued totaled PLN 6bn in H1, up 9% year on year; Q2 was a record quarter.

• SME segment: Loans and leasing sales up 6.5% in Q2 2025 vs. Q2 2024; SME deposits up 11% year-over-year.

• Corporate and investment banking: capital market service revenues doubled; treasury transaction revenues up 17% year on year.

• Factoring and leasing portfolios grew 7% and 10% year-over-year, respectively.