Bank Pekao Delivers Solid Results for the First Three Quarters of 2026

Double-digit lending growth, particularly strong in strategic segments, increased usage and further growth in digital channels, as well as a relatively limited decline in the net interest margin compared with the decrease in interest rates, were the key factors behind Bank Pekao’s very solid financial performance in the first three quarters of 2026.

Bank Pekao’s consolidated net profit for the first three quarters of 2026 amounted to PLN 4.264 billion, down 18% versus corresponding period of the previous year. This decline was primarily driven by external factors, including the increase in the corporate income tax rate to 30%, lower market interest rates and higher contributions to the Bank Guarantee Fund (BFG). The negative year-on-year impact of tax changes on net profit exceeded PLN 0.7 billion.

Net interest income for the first nine months of 2026 decreased slightly, by 1.5% year on year, to PLN 10.139 billion. Meanwhile, net fee and commission income increased by 11% in the January-September period to PLN 2.514 billion, supported by higher client activity and favourable conditions in the capital markets.

“We are actively responding to our clients’ needs, expanding the scale of our business and keeping costs under control. As a result, excluding the impact of higher tax burdens on the banking sector, our year-on-year result is comparable, despite lower market interest rates. By successfully capitalising on the recovery in the lending market, we are maintaining our momentum and will continue to strengthen our competitive position in the coming quarters,” said Cezary Stypułkowski, CEO of Bank Pekao.

In the first three quarters of 2026, total loans grew by 10%. Corporate lending increased by more than 13%. The cash loan portfolio reached PLN 16.2 billion at the end of September 2026, up as much as 16% year on year, with new sales in the third quarter alone reaching PLN 2.3 billion, one-fifth more than a year earlier.

The Bank maintained its strong track record of acquiring new clients and, as traditionally, continued to place significant emphasis on earning the trust of younger customers. Between January and September, 360,000 people opened accounts with Bank Pekao, with customers aged up to 26 accounting for 33% of the total. Under its strategy, the Bank plans to increase the number of young customers to 1.4 million in 2027, from 1.1 million in 2024.

Bank Pekao’s capital position remains strong. At the end of September, the Group’s total capital ratio (TCR) stood at 17.8%, while its Tier 1 ratio was 14.7%. Both ratios remained significantly above the regulatory minimum requirements.

In spring last year, Bank Pekao announced its strategy through 2027. By the end of the strategy period, ROE is expected to exceed 18%, the cost-to-income ratio (C/I) is expected to be below 35%, and the number of active mobile banking customers is expected to reach 4.4 million.

For the first nine months of 2026, ROE with the annualised cost of contributions to the Bank Guarantee Fund stood at 16.8%, while ROE adjusted for the CIT change would have amounted to 19.4%. The C/I ratio, including the annualised BFG contribution, stood at 36.5%, or 34.0% excluding the contribution to the Fund. The number of active mobile banking users increased to 3.93 million at the end of June.

The cost of risk (CoR) stood at 49 bps for the first nine months of the year. The targeted CoR for the end of 2027 is 65–75 bps.