Bank Polski (PKO) Q4 2025 earnings summary

Executive summary

• Achieved record net profit of PLN 10.7 billion for 2025, up 14.8% year-over-year, with market leadership across key segments and 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 capital base with CET1 ratio at 15.57% and ROE at 19.5%.

• Cost-to-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, with ROE at 19.5% and net interest margin at 4.76%.

• Net interest income grew by 8.3% y/y; fee and commission income up 2.4% y/y, with Q4 growth at 8.5% y/y.

• Cost-to-income ratio at 31.1%, cost of risk at 30 bps, and NPL ratio stable at 3.34%.

• Total assets reached PLN 583 billion, up 11% y/y; customer financing up 11% y/y to PLN 327 billion.

• Customer savings increased 14% y/y to nearly PLN 700 billion.

Outlook and guidance

• Expect continued single-digit lending growth across key segments, with no signs of slowdown and further acceleration in 2026.

• Anticipate further investment boom in 2026, with Polish economy remaining resilient and EU fund disbursements supporting growth.

• Fee and commission income targeted for medium-term growth, with ongoing strategic investments and rising operating costs.

• Cautiously optimistic about offsetting higher taxes and legal risks with volume growth.