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Bank Pekao SAPekao lender expects PLN1 bln burden from 2026 CIT increase
Listed lender Bank Pekao expects a PLN 1 billion (EUR 215 mln) burden from the 2026 CIT increase, the company's representatives told a conference. The merger with listed insurance group PZU may close in the third quarter of 2026.
In June, listed insurance group PZU and listed lender Bank Pekao signed a cooperation memorandum for the merger.
"So far, we are convinced that the transaction structure announced is probably the most efficient under the given assumptions and assuming that if various events occur along the way, we will be able to complete the transaction, say, in the third quarter of next year," the bank’s CEO, Cezary Stypulkowski told a conference.
Deputy CEO Dagmara Wojnar said the 30 percent CIT tax increase in 2026 will cost Pekao about PLN 1 billion (EUR 215 mln), making next year’s profit improvement difficult.
"We estimate the impact of CIT on this year, on the deferred tax asset, at about PLN 150 million. Next year, if the higher CIT comes into effect, it will probably cost us about more than PLN 1 billion," said Dagmara Wojnar.
Pekao’s loan portfolio amounts to PLN 199 billion (EUR 42.6 bln), up 8 percent year on year. The bank said credit growth in the third quarter was strong across almost every area of its operations, with some segments registering double-digit growth.
CEO Cezary Stypulkowski said that their credit activity is growing, and they believe their market shares have slightly increased. He added that the bank aimed to enter a growth trajectory after years of stagnation, which is now happening with a revival in credit activity across all segments, growing somewhat faster for them.
"We will ambitiously try to maintain this growth trend. These are not significant increases, but the bank’s ambition is to return to that growth trajectory not only nominally but also relatively compared to competitors," he added.
The CEO said the bank does not plan foreign expansion or to develop an overseas branch network.
Pekao’s cash loan volume rose 11 percent in the third quarter, with PLN 1.9 billion (EUR 407 mln) in new net sales (+15 percent year on year). Microfinance grew 15 percent, loans to MID+SME firms increased 13 percent, and corporate loans rose over 10 percent in the third quarter.
New mortgage loan sales reached PLN 3.1 billion (EUR 666 mln), up 48 percent year on year.
seb/ nl/ han/
