Polish banks report strong nine-month profits for 2026

Major Polish banking institutions, Bank Millennium and mBank, reported significant profit growth for the first nine months of 2026.

Bank Millennium, a subsidiary of Millennium BCP, recorded a net profit of 1.109 billion zlotys (approximately 259.7 million euros), representing a 30% increase compared to the same period in 2025. The bank noted that total customer deposits rose by 11% and off-balance sheet resources grew by 21%. Despite a slight decrease in total revenue to 5.004 billion zlotys, the institution saw a 9% rise in net commissions. Additionally, pre-tax charges related to Swiss franc mortgage portfolios decreased by 63% year-on-year.

mBank reported its highest quarterly results to date, with net profit for the third quarter of 2026 increasing by 29.6% year-on-year. For the first three quarters of 2026, mBank's group net profit reached 3.098 billion zlotys, a 24% increase. The bank attributed its strong performance to a significant reduction in legal risk reserves for foreign currency mortgages, which helped offset higher fiscal burdens. While risk costs rose due to a specific corporate exposure in the construction sector, the bank's cost-to-income ratio improved to 29.1%.