ING Bank Slaski SA (WAR:ING)

Half Year 2026 ING Bank Slaski SA Earnings Call Transcript

Jul 30, 2026 / 09:15 AM GMT

Release Date Price: zł443 (+1.19%)

Transcript

Key Points

Positve

ING Bank Slaski SA (FRA:6GF) reported a strong Q2 2026 with gross profit of PLN1.9 billion, beating market expectations, and a 15% year-on-year increase in first-half gross profit.
The bank achieved record customer acquisition, adding 101,000 new retail clients and 19,000 corporate clients in Q2, driven by attractive offers and digital processes.
Loan portfolio grew 9% year-on-year, with retail lending reaching record sales of PLN7.8 billion in Q2, including a 19% year-on-year increase in mortgage volumes.
The full consolidation of ING TFI significantly boosted investment product value by 250% year-on-year to PLN72 billion, increasing the bank's market share in the TFI market to over 15%.
Cost of risk was exceptionally low at 33 bps, down from 65 bps long-term average, due to successful NPL sales and improved macroeconomic projections, contributing positively to results.
The bank's ROE reached 20%, in line with its strategy and above its long-term objective, despite a higher effective tax rate of 37.3%.

Negative

Net interest margin (NIM) faced pressure, declining 13 bps quarter-on-quarter to 3.07%, due to asset repricing at lower market interest rates and intense competition in the mortgage market.
The bank set aside additional provisions for legal risks, including PLN19 million for consumer credit legal risks and PLN70 million for other consumer protection issues, reflecting a cautious approach to the regulatory environment.
Operational costs increased 6% year-on-year, driven by personnel costs, full consolidation of TFI expenses, and higher marketing and IT costs, which could pressure future profitability.
The bank's net result for the first half of 2026 was lower than the previous year, primarily due to a higher corporate income tax rate, despite strong operational performance.
The macroeconomic outlook is clouded by geopolitical risks, particularly the ongoing Middle East conflict, which has led the bank to conservatively forecast economic growth at 3.4% and expect no interest rate cuts this year.
The bank's research indicates Polish businesses, including its clients, are not sufficiently innovative or aggressive in international expansion, which could limit future lending growth opportunities.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

INGP.WA - ING Bank Slaski SA
Half Year 2026 ING Bank Slaski SA Earnings Call
Jul 30, 2026 / 09:15AM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Good morning. Let me welcome very warmly at the wrap-up of the second quarter of this year and the first semester. The presentation will be run by Bozana Gratuk, CEO in charge of investments, Rafael Vanetsky, CFO. And my name is Piotr Utrata. I'm the press spokesman. Boszena, let me hand it over to you.

Good morning, ladies and gentlemen. Indeed, I would like to start out by saying that.

We are, as ING Bank Shlonsky, very satisfied with Q2 and Semester 1 performance for 2026. Consistently, our business and financial data illustrate that we deliver on the beat of life strategy of ING. What is noteworthy is that in Q2 we obtained.

101,000 new retail clients which is the highest growth for six months also

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.