The net profit of nine listed banks in the third quarter of 2025 amounted to PLN 10.6 billion and turned out to be 2.6%. higher than market expectations – according to data collected by PAP Biznes.
Last week, the largest listed banks ended their earnings publication season. The third quarter was another period when banks' results declined slightly exceeded market expectations and were higher than last year and the quarter before.
The results of most of the analyzed banks turned out to be higher than the consensus, of which Bank Millennium's results exceeded market expectations the most. Analysts pointed out that the main reason for exceeding the forecasts was, among others, lower income tax.
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At the result level the biggest disappointment concerned mBank's results. In the case of this bank, the reason for the weaker-than-expected net profit was higher income tax.
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Detailed bank results. Interest and commissions
Banks' net interest income remained relatively stable year-on-year and quarter-on-quarter, but declined slightly compared to the second quarter. In turn, the result on fees and commissions increased on a y/y and kdk basis, particularly the high (5%) increase compared to the third quarter of 2024 is noteworthy.
The balance of loan provisions was almost 6 percent higher. lower than a year earlier, but by over 50%. higher than in the second quarter of 2025. This increase was caused by the normalization of the level of provisions in several banks (including Bank Millennium and Alior Bank), after a good result in the second quarter.
Banks are breaking records
After nine months of 2025, Polish banks generated PLN 36.1 billion in net profit, which means a year-on-year increase of 16.1%. – according to the latest data from the National Bank of Poland.
See also: This is how much Polish banks earned. The record is expected to be broken throughout the year
The net profit of PLN 36.1 billion achieved after nine months and still considerable resistance to falling interest rates and good loan repayment mean that throughout 2025, Polish banks should clearly beat the net profit achieved in 2024. Back then, they earned a record PLN 40.1 billion in nominal terms (ROE profitability, i.e. profit in relation to the size of banks measured by equity, was not record-breaking).
If we assume that in the remaining three months of the year the industry will generate a total of PLN 12 billion, then in the whole of 2025 the net profit would reach PLN 48 billion, which would be a new record. The uncertainty factor in this respect is the amount of provisions for Swiss francs in December, because then they are usually the highest (although this does not necessarily have to be the case, as banks are approaching the end of creating provisions for these disputed loans).
Achieving this result would mean approximately 15.9 percent. ROE ratio, so it would still be far from the records from before the global financial crisis, when this key indicator even exceeded 20 percent (however, at that time it was easier for banks to achieve a high ratio because they had lower capital requirements).
Banks are an important element of the Polish economy
Banks play a key role in the Polish economy because they ensure efficient capital circulation and enable financing of investments by both enterprises and households. By granting loans, they support the development of companies, creating jobs and modernizing infrastructure, and thanks to deposits and a payment system, they facilitate the safe storage and transfer of funds.
The stability and condition of the banking sector have a direct impact on investor and consumer confidence, which translates into the economic growth rate. Banks also play an important role in the implementation of monetary policy, transmitting the decisions of the National Bank of Poland to the economy through interest rates, and ensuring the safety of financial transactions through supervision and regulations. Thanks to this, they constitute one of the foundations of the entire economic system in Poland.
