BNP Paribas Bank Polska Q3 profit beats market expectations
GDANSK, Poland, Nov 5 (Reuters) - BNP Paribas Bank Polska BNP1.WA reported a third-quarter profit that beat market expectations on Thursday, as growth in net interest income offset a hit from higher income tax aimed at funding Poland's defence spending.
Polish banks earned a record 49 billion zlotys ($12.6 billion) in 2025 as high interest rates boosted earnings, but they have been squeezed this year by rate cuts, higher taxes and consumer-loan claims. However, lenders with Swiss franc mortgage books are seeing some relief as costs linked to related lawsuits decline.
The Polish unit of France's BNP Paribas BNPP.PA said its net profit fell 1% to 689.1 million zlotys, but still beat analysts' 659 million zloty median forecast
That was helped by lower legal risk provisions tied to Swiss franc loans, which fell 19.5% to 52.6 million zlotys
Net interest income was up 7.1% at 1.56 billion zlotys, slightly above analysts' estimate of 1.53 billion
Gross loan book grew 9.3% from a year ago, driven by higher corporate and consumer lending, and despite lower mortgage lending
Net fee and commission income grew 10.6% to 319.3 million zlotys, but slightly missed market expectations
BNP Paribas, which holds nearly 75% of the Polish lender, last week posted a forecast-beating rise in Q3 profit, helped by strong investment banking performance
($1 = 3.8937 zlotys)