Profil:
Santander Bank Polska SASantander BP lender's Q1 net profit at PLN 1.733 mln, above expectations
Listed lender Santander Bank Polska group's net profit in the first quarter of 2025 rose to PLN 1.733 billion (EUR 405.9 mln) from PLN 1.564 billion (EUR 366.3 mln) a year earlier, the bank said in a report. The bank's profit was 7.1 percent above analysts' expectations of PLN 1.618 billion (EUR 378.9 mln).
The expectations of six brokerage firms for Santander Bank Polska's first quarter net profit ranged from PLN 1.581 billion (EUR 370.3 mln) to PLN 1.658 billion (EUR 388.3 mln).
Santander's net profit rose 10.8 percent year on year and 89.8 percent quarter on quarter.
The bank's interest income in the first quarter amounted to PLN 3.598 billion (EUR 842.7 mln) and was close to analysts' expectations of PLN 3.637 billion (EUR 851.8 mln). Interest income rose 6.2 percent year on year and fell 0.7 percent quarter on quarter.
Net fee and commission income amounted to PLN 748.3 million (EUR 175.3 mln), 1.5 percent higher than the market's estimate of PLN 737.6 million (EUR 172.8 mln). Net fee and commission income was 2.7 percent higher than a year earlier and increased 3.1 percent quarter on quarter.
Loan impairment charges amounted to PLN 251.9 million (EUR 59 mln) in the first quarter, close to expectations, with the market expecting charges of PLN 249.8 million (EUR 58.5 mln). Provisions increased 8.7 percent quarter on quarter and 235 percent quarter on quarter.
The cost of legal risk of mortgages in foreign currencies amounted to PLN 120.5 million (EUR 28.2 mln), compared to analysts' median expectation of PLN 245 million (EUR 57.4 mln).
seb/ han/