Erste Group Bank (EBS) Q3 2025 earnings summary

Executive summary

• Progressing toward first-time consolidation of Santander Polska by year-end 2025, with all competition authority approvals received and Polish regulator approval expected soon.

• Strong operating performance in Q3 2025, with continued capital build and robust profitability driven by record net interest income and fee income.

• Net profit for the first nine months of 2025 reached EUR 2,566 million, up 2.0% year-over-year.

• Upgraded 2025 guidance for net interest income, cost-income ratio, and CET1 ratio, reflecting robust capital build and operational momentum.

• Positive one-off in other result, though at a lower level than Q2 2025; higher banking taxes in Romania and Austria impacted results.

Financial highlights

• Quarterly revenues exceeded EUR 2.9 billion for the first time, with net interest income near EUR 2 billion and fee income at almost EUR 800 million, both quarterly records.

• Net profit for Q3 2025 rose 1.7% year-over-year to €921m; earnings per share at €2.20, return on tangible equity at 19.5%.

• Net interest income for the first nine months rose to EUR 5,761 million (+3.0% year-over-year); net fee and commission income increased to EUR 2,340 million (+8.4%).

• Cost/income ratio improved to 45.1% in Q3 2025, with operating expenses flat quarter-on-quarter but up 8% year-over-year.

• CET1 ratio (pro forma) at 18.2%; total capital ratio at 23.0%; leverage ratio at 7.1%.

Outlook and guidance

• 2025 net interest income growth now expected to exceed 2%; fee income growth guidance remains above 5%.

• Cost-income ratio for 2025 upgraded to about 48%; risk costs expected at 20 basis points; ROTE comfortably above 15%.

• CET1 ratio expected above 18.5% at year-end 2025, prior to Santander Bank Polska consolidation.

• Loan volumes expected to rise by more than 5% in 2025.

• For 2026, combined entity targets ROTE of about 19% and EPS uplift of over 20%, with positive operating leverage anticipated.