Polish banks profit outlook and results

In late July 2026, Polish companies posted strong earnings. Retailer OBI posted a modest net‑profit rise for 2025 despite a drop in industry revenues, while mBank delivered its strongest quarterly profit ever, driven by higher interest income and cost reductions.

Analysts forecast that the nine largest listed Polish banks would post a combined net profit of about 9.15 billion PLN in Q2 2026 – roughly 13 % up from the previous quarter and only slightly below the same period a year earlier. The outlook reflected a modest 0.3 % rise in interest income, a sharp increase in the corporate‑tax burden after the banking CIT rose from 19 % to 30 %, and a continued fall in the reference rate to 3.75 %. Expanding loan books – household credit up 7.4 % and business credit nearly 10 % YoY – and the fall in Swiss‑franc‑loan costs to just over 1 billion PLN were cited as key profit supports.

On the same day, Bank Pekao SA reported a Q2 net profit of about 1.52 billion PLN, a 5.3 % YoY decline but a 23 % quarter‑on‑quarter gain, beating forecasts, while commission income rose 8.8 % YoY. Its loan portfolio reached 213.6 billion PLN, with mortgage sales up 42 % and double‑digit credit growth. Bank Millennium posted a record loan book of over 81 billion PLN, up 10 % YoY, deposits up 16 %, and mortgage lending surging 282 % from a low base. Both banks highlighted robust credit expansion and resilience despite higher taxes and a falling policy rate.

Together, these results underline the continued resilience and profitability of Poland’s banking sector amid higher taxes, lower rates and ongoing cost reductions.