ING Bank Slaski (ING) investor relations material

Executive summary

• Net profit for Q1 2026 was PLN 823 million, down 40% quarter-over-quarter and 19% year-over-year, mainly due to higher expenses and income tax, with total assets rising to PLN 302,946 million.

• Individual clients reached 4.7 million, up 133,000 year-over-year, and corporate clients totaled 599,000, both showing continued growth.

• Mortgage lending grew 12% year-over-year to PLN 71 billion, with record sales and an 18.1% market share; retail and corporate loans also expanded significantly.

• The Group completed the acquisition of 100% of Goldman Sachs TFI S.A., strengthening its investment and pension solutions segment.

• Assets in investment products surged 33% year-over-year, reaching PLN 2.25 billion, and client deposits rose by PLN 21.3 billion year-over-year.

Financial highlights

• Net interest income for Q1 was PLN 2,333 million, up 6% year-over-year and 2% quarter-on-quarter.

• Net commission income increased to PLN 595 million (+3% y/y), with strong growth in capital markets and investment fund commissions.

• Gross profit was PLN 1,351 million, and earnings per share were PLN 6.32.

• Operational costs, including regulatory and banking tax, reached PLN 1.5 billion, up 6% year-over-year, with total expenses at PLN 1,281 million (+7% y/y).

• Loan-to-deposit ratio stood at 75.3%, above the sector average.

Outlook and guidance

• No further interest rate declines are expected; mortgage margins are expected to stabilize.

• The bank maintains a stable dividend policy, targeting up to 75% of annual net profit, subject to regulatory and capital requirements.

• Management highlights ongoing digital innovation and expansion in investment products as strategic priorities.

• Economists forecast 2026 GDP growth in Poland at 3.4%, with inflation expected to average 3.5%.

• Strategic targets for client growth and market share in mortgages, consumer lending, and deposits are on track.