ING's Polish unit reports marginally higher first-quarter net profit (updated)

ING Bank Slaski SA

08/05/2025 06:47

Adds details, background in paragraphs 3-5

GDANSK, May 8 (Reuters) - ING Bank Slaski INGP.WA, the Polish unit of Dutch bank ING Groep INGA.AS, reported a 2% increase in first-quarter net profit on Thursday, supported by higher net interest income (NII).

The lender's net profit came in at 1.01 billion zlotys ($267.34 million) in January-March, in line with a company-compiled consensus estimate.

Its NII rose about 2% to 2.21 billion zlotys, while net commission income reached 579 million zlotys, although both narrowly missed their respective estimates of 2.25 billion zlotys and 584 million zlotys.

Operating expenses rose to 1.2 billion zlotys from 1.09 billion zlotys a year ago, partly due to higher mandatory contributions to the Bank Guarantee Fund's resolution fund.

ING Bank Slaski's parent, ING Groep, had reported stronger-than-expected first-quarter profit earlier this month and announced a 2-billion-euros share buyback.

($1 = 3.7780 zlotys)

 (Reporting by Rafal W. Nowak; Editing by Jacqueline Wong and Varun H K)

 ((RafalWojciech.Nowak@thomsonreuters.com; +48 58 769 66 63;))