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Santander Bank Polska SAUPDATE2: Santander BP lender posts nearly PLN 1.84 bln attrib. net profit in Q4 2025, above expectations
Listed lender Santander BP, the unit of Spanish Banco Santander, posted over PLN 1.838 billion (EUR 435.1 mln) attributable net profit in the fourth quarter of 2025, up from PLN 913 billion (EUR 216.1 mln) in the prior year period, the bank said in its preliminary financial report.
The profit turned out to be 14.2 percent above analysts' expectations, who had forecast that it would amount to PLN 1.609 billion. The expectations of seven brokerage houses regarding the bank's net profit in the fourth quarter of 2025 ranged from PLN 1.398 billion to PLN 1.845 billion.
Santander Bank Polska's fourth quarter net profit in increased by 101.3 percent year on year and decreased by 2.7 percent quarter on quarter.
In the period from June 16, 2025 to December 23, 2025, i.e. from the date of conclusion of the preliminary agreement with Santander Consumer Finance concerning the sale of all shares in Santander Consumer Bank held by Santander Bank Polska until the closing of this transaction, the group treated Santander Consumer Bank as a discontinued operation.
The positive impact of the change in the CIT rate amounted to PLN 173 million, and the legal risk costs of mortgage loans in foreign currencies amounted to PLN 610 million.
Net interest income amounted to PLN 3.153 billion and was in line with the consensus of PLN 3.155 billion. Net interest income fell by 1.5 percent year on year and was 1.3 percent lower quarter on quarter.
In 2025, interest income amounted to PLN 12.7 billion, up 4 percent year on year.
The bank reported that the interest margin on continuing operations was 4.64 percent in the fourth quarter of 2025, down from previous quarters due to changes in market interest rates.
Net commission income amounted to PLN 751.8 million, which means that it was 1.1 percent above the forecasts of analysts surveyed by PAP Biznes (PLN 743.7 million). Net commission income increased by 7.8 percent y/y and was 3.7 percent higher q/q.
In 2025, commission income amounted to PLN 2.9 billion, up 6 percent year on year.
The group's total income in 2025 amounted to PLN 16 billion, up 4 percent year on year, and remained at a similar level on a quarterly basis.
The group's C/I ratio is 30.3 percent in 2025, compared to 29 percent in 2024.
Total costs amounted to PLN 1.186 billion, which was 1.3 percent lower than the consensus of PLN 1.202 billion. Total costs increased by 14.2 percent y/y and 7 percent q/q.
The balance of provisions amounted to PLN 146.4 million and was 22.9 percent lower than the consensus of PLN 189.7 million. The balance of provisions increased by 82.2 percent y/y and decreased by 25.4 percent compared to the previous quarter.
Cash loan sales in 2025 amounted to PLN 12.6 billion, while mortgage loans amounted to PLN 10.3 billion.
Total deposits increased by 7 percent y/y and 4 percent q/q to PLN 230.14 billion. Individual customer deposits increased by 1 percent q/q, while corporate deposits in the fourth quarter recorded an increase of 8 percent.
The TCR ratio is 20 percent, and CET1 is at 19.5 percent.
| PLN mln | Q4 2025 | consensus | difference | ||
| PAP | |||||
| Net interest | 3153.9 | 3 155.2 | 0.0% | ||
| Net f&c | 751.8 | 743.7 | 1.1% | ||
| OPEX - total | 1186.6 | 1 202.1 | -1.3% | ||
| Impairments | -146.4 | -189.7 | -22.9% | ||
| Attrib. net profit | 1838.4 | 1 609.5 | 14.2% | ||
| Q4 2025 | Q4 2024 | difference | Q3 2025 | difference | |
| PLN mln | y/y | q/q | |||
| Net interest | 3154 | 3 202 | -1.5% | 3 195 | 1.3% |
| Net f&c | 752 | 698 | 7.8% | 725 | 3.7% |
| OPEX - total | 1187 | 1 039 | 14.2% | 1 109 | 7.0% |
| Impairments | -146 | -80 | 82.2% | -196 | -25.4% |
| Attrib. net profit | |||||
| 1838 | 913 | 101.3% | 1 889 | -2.7% |
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