Bank Pekao posted strong financial results in the first quarter of 2026, driven to a significant extent by very high loan portfolio growth. Risk costs were very low in the first quarter, while the bank maintained strong momentum in digitalisation and the development of digital channels. Comparability of results is affected by significantly higher year-on-year contributions to the Bank Guarantee Fund (BFG) and by a change in the tax regime.

Reported net profit in Q1 2026 amounted to PLN 1.232 billion, compared with PLN 1.685 billion a year earlier. Net interest income totalled PLN 3.312 billion versus PLN 3.414 billion in the corresponding period last year. Fee and commission income, however, increased in January–March this year to PLN 829 million from PLN 732 million, representing an increase of more than 13% year on year.

“We are starting 2026 with a solid quarter. What deserves particular attention is the scale of the increase in lending, unseen for a long time. Growth in the loan portfolio allowed us to support net interest income despite lower market interest rates. We are doing everything we can to be the bank of first choice and to strengthen our competitive position. I do not hide the fact that our ambition is to grow faster than the market,” said Cezary Stypułkowski, CEO of Bank Pekao.

In the first quarter of 2026, total loans increased by 11%, while corporate lending rose by as much as 16.4%. The volume of cash loans increased strongly again, with growth of more than 14%, and PLN 2 billion in new net sales recorded in Q1 2026 alone. As much as 90% of these loans were sold via digital channels.

The expansion of the retail customer base and the growth of younger customer segments also remained on an upward trajectory. In Q1 2026, Bank Pekao opened 113.5 thousand Przekorzystne Accounts and Świat Premium Accounts, 30% of which were for customers under the age of 26. As part of its strategy, the bank has set a goal to increase the number of young customers to 1.4 million by 2027, up from 1.1 million in 2024.

Bank Pekao’s capital position remains traditionally very strong. At the end of March, the group’s total capital ratio (TCR) stood at 17.7%, while Tier 1 capital amounted to 15.2%. In both cases, these levels were well above regulatory minimums.

In spring last year, Bank Pekao announced its strategy through 2027. At the end of the strategic period, ROE is to exceed 18%, the cost-to-income ratio is to remain below 35%, and the number of active mobile banking customers is expected to reach 4.4 million.

At the end of Q1 2026, ROE with the annualised cost of the Bank Guarantee Fund stood at 17.1%. The cost-to-income ratio with the annualised BFG cost amounted to 37.2% (but 34.6% excluding the BFG contribution). Meanwhile, the number of active mobile banking users increased to 3.79 million by the end of March.

The increase in BFG contributions reduced Bank Pekao’s consolidated net profit in Q1 2026 by PLN 110 million year on year.

Risk costs in Q1 2026 remained at a low level of 37 basis points. The assumed cost of risk at the end of 2027 is expected to be in the range of 65–75 basis points.