Santander Bank Polska (SPL) Q4 2025 earnings summary

Executive summary

• Net profit for 2025 reached PLN 6.7648 billion, up 29% year-over-year, with profit attributable to owners at PLN 6.4788 billion, a 24.3% increase; gross profit was PLN 8.3 billion, up 14% year-over-year.

• Sale of Santander Consumer Bank S.A. finalized, with discontinued operations contributing a net profit of PLN 231.7 million and deconsolidation positively impacting capital ratios.

• Entry of Erste Group into Poland signals strong economic fundamentals and growth prospects, with rebranding to Erste Bank Polska approved and KRS registration planned for Q2 2026.

• Customer base expanded to 6 million, including 3.9 million digital customers.

• Focus remains on customer service, digitalization, and leveraging international experience, especially in corporate, SME, and wealth segments.

Financial highlights

• Total income from continuing operations increased by 4.5% year-over-year to PLN 16.0217 billion; Q4 total income was PLN 4 billion.

• Net interest income rose 3.5% year-over-year to PLN 12.7028 billion; net fee and commission income grew 5.9% to PLN 2.9485 billion.

• Operating expenses increased 9.1% year-over-year to PLN 4.8572 billion, mainly due to higher regulatory costs; cost-to-income ratio at 30.3%.

• Customer deposits at PLN 230.1426 billion; total assets at PLN 380 billion.

• Earnings per share reached PLN 63.4.

Outlook and guidance

• Strategy for 2026 includes focus on profitable growth in SME, wealth, and corporate segments, leveraging Erste Group expertise.

• Dividend payout potential up to 75% of profit, pending regulatory approval; capital surplus exceeds PLN 9 billion.

• Loan growth expected in investment, automation, and digitization, especially for SMEs and corporates.

• Cost discipline to maintain cost-to-income ratio around 30%; total cost growth to align with CPI.

• Rebranding costs in 2026 are estimated at PLN 250 million before tax.