Strong Profit and Growth in Corporate Lending
Pekao S.A. reported robust net profit growth and significant increases in corporate lending market share, with a 19% year-on-year increase in large corporate customer loans.
Increase in Digital Penetration and Customer Base
The bank saw improved digital penetration among its customers, with over 90% of cash loans sold through digital channels, and an addition of approximately 900 new customers in Q3.
Growth in Interest and Fee Income
Net interest income increased by 8% year-on-year despite a declining rate environment, with fees and commissions growing by 9% year-on-year, marking the third consecutive quarter of double-digit growth.
Strong Capital Position and Market Leadership
Pekao S.A. maintained a strong capital position and claimed leadership in corporate financing, including a significant PLN 1 billion deal with the European Investment Bank.
Positive Outlook on Economic Recovery and Investments
The bank projects a conducive environment for banking business with expectations of 4% GDP growth next year, a major acceleration in investments, and continued interest rate cuts.