Polish banking and industrial sector performance

In late October 2026, analysts projected that the nine largest banks on the Warsaw Stock Exchange would report a combined net profit of approximately 9.7 billion PLN for the third quarter. This figure represented a 3.3 percent increase from the previous quarter but a potential 8.8 percent decline year-on-year, driven by NBP interest rate cuts and legal risk reserves for Swiss franc loans. During the same period, the industrial group Grupa Kęty reported significant growth, with net profits rising 27.19 percent year-on-year.

Subsequent reports confirmed strong nine-month performance for major institutions. Bank Millennium recorded a net profit of 1.109 billion zlotys, a 30 percent increase compared to the same period in 2025, aided by a 63 percent year-on-year decrease in pre-tax charges related to Swiss franc mortgage portfolios. mBank also reported robust results, with a third-quarter net profit increase of 29.6 percent year-on-year and a total nine-month group net profit of 3.098 billion zlotys. mBank attributed its performance to a significant reduction in legal risk reserves for foreign currency mortgages.