Poland's ING Bank Slaski misses profit forecast, hit by higher corporate tax
30/04/2026 06:45
April 30 (Reuters) - ING Bank Slaski INGP.WA, the Polish unit of Dutch banking group ING INGA.AS, reported a first-quarter net profit of 823 million zlotys ($225 million) on Thursday, missing market expectations of 876 million zlotys. Polish banks are navigating a dual pressure on their profitability, as a sharp hike in corporate tax for 2026 coincides with falling net interest income after the central bank lowered interest rates. To offset the hit, lenders are looking to grow their credit volumes and boost income from fees and commissions. ING Bank Slaski's net profit fell 19% from a year ago, hit by significantly higher tax payments Poland's government last year announced a hike in banks' corporate income tax to 30% for 2026 to fund increased defence spending The bank's net interest income rose 5.5% to 2.33 billion zlotys, as growing credit volumes offset the effect of falling interest rates Net fee and commission income was 595 million zlotys, slightly below 598 million zlotys seen by analysts' consensus Gross loan portfolio grew around 9%, driven by an increase in mortgage lending and corporate loans The bank's Dutch parent reported a profit beat for the quarter on Thursday ($1 = 3.6540 zlotys) (Reporting by Alicja Surdy, editing by Milla Nissi-Prussak) ((AlicjaEwa.Surdy2@thomsonreuters.com;))