ING Bank Slaski third-quarter profit edges up, tops estimates (updated)
30/10/2025 07:03
Adds details on results in paragraph 3 and 5, rate context in paragraph 4, parent's results in paragraph 6 GDANSK, Oct 30 (Reuters) - ING Bank Slaski INGP.WA, the Polish unit of Dutch bank ING Groep INGA.AS, reported on Thursday a slight year-on-year rise in its third-quarter profit, helped by higher net commission income and fewer bad loans. The lender posted a net profit of 1.11 billion zlotys ($305.24 million) for the quarter, exceeding a company-compiled consensus estimate of 1.08 billion zlotys. The result was supported by a significant fall in impairments for expected credit losses and a net commission income rise, which helped offset the net interest income drop. While the bank's loan portfolio grew in the quarter, its net interest margin narrowed, it said. The results come as Poland's banking sector faces pressure on profitability from a monetary easing cycle. The central bank began cutting interest rates in May and delivered an unexpected cut in October, lowering its main rate to 4.50%. Net interest income (NII) for the quarter reached 2.19 billion zlotys, slightly below the 2.2 billion zlotys seen in a company-compiled consensus. Net fee and commission income stood at 598 million zlotys compared with expectations of 591 million zlotys. ING Bank Slaski's parent, ING Groep, also reported on Thursday better-than-expected third-quarter results and announced it would launch a 1.1 billion euro ($1.28 billion)share buyback programme. ($1 = 3.6365 zlotys) (Reporting by Alicja Surdy; Editing by Matt Scuffham) ((alicjaewa.surdy2@thomsonreuters.com))