PKO Bank Polski Q2 Net Profit Reaches 2.66 bln Zlotys

PKO BP reported a Q2 net profit of 2.66 bln zlotys, beating expectations. The bank's first-half profit reached 4.37 bln zlotys, up 22.5% YoY. The results were driven by higher lending and deposit volumes, as well as lower provisions for bad loans. PKO BP's total assets reached 674 bln zlotys, a 12.8% increase from the end of 2024.

Poland's largest bank, PKO Bank Polski (PKO BP), reported a Q2 net profit of 2.66 billion zlotys, surpassing market expectations. This strong performance follows the bank's robust Q1 results, with a 22.5% year-over-year (YoY) increase in first-half profit to 4.37 billion zlotys [2]. The bank's total assets reached a record high of 674 billion zlotys, a 12.8% increase from the end of 2024.

The Q2 results were driven by higher lending and deposit volumes, as well as lower provisions for bad loans. The bank's total loan portfolio grew by 6.5% year-on-year to 193 billion zlotys, with lending to small and medium-sized enterprises (SMEs) up 13% and cash loans increasing by 11%. New mortgage sales in the quarter jumped 16% to 2.8 billion zlotys [3].

PKO BP's net interest income rose 17.9% year-on-year to 3.45 billion zlotys, with the net interest margin widening to 4.26% from 4.22% a year earlier. The bank's chief economist, Ernest Pytlarczyk, attributed this to pent-up demand in the mortgage market, which could be as high as 70 billion zlotys [3].

The bank's Q2 net profit highlights its ability to navigate challenging market conditions and maintain strong financial performance. The record total assets and increased net interest income reflect the bank's commitment to growth and strategic investments. Investors will be closely monitoring PKO BP's progress as it executes its expansion strategy and continues to deliver strong financial results.

References:
[1] https://www.ainvest.com/news/pko-bp-plans-issue-bonds-worth-2-billion-zlotys-2508/
[2] https://www.marketscreener.com/news/pko-bp-q2-net-profit-at-2-66-bln-zlotys-ce7c51dad08bf024
[3] https://www.marketscreener.com/news/update-2-poland-s-bank-pekao-beats-q2-profit-estimates-as-loan-growth-accelerates-ce7c5edfd88ef623