This article first appeared on GuruFocus .
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Revenue (Q4 2025):PLN1.5 billion.
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Interest Income (Q4 2025):PLN1.26 billion, 4% decrease year-on-year.
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Commission Income (Q4 2025):PLN240 million, 9% increase year-on-year.
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Total Revenue (2025):PLN6 billion.
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Interest Income (2025):PLN5.13 billion, 1% decrease year-on-year.
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Commission Income (2025):PLN900 million, 4% increase year-on-year.
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Net Profit (Q4 2025):PLN688 million, 12% increase quarter-on-quarter.
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Net Profit (2025):PLN2.35 billion, 3% decrease year-on-year.
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Return on Equity (ROE) (Q4 2025):21.7%.
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Return on Equity (ROE) (2025):19.6%.
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Cost of Risk (Q4 2025):Below 1 percentage point.
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Cost of Risk (2025):0.49%.
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Non-Performing Loan (NPL) Ratio:5.64%.
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Customer Growth:107,000 new relational customers.
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Mobile App User Growth:17% increase.
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Sales Growth (Q4 2025):PLN8 billion, 12% increase year-on-year.
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Sales Growth (2025):17% increase.
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Deposit Portfolio (2025):PLN82.6 billion, 7% increase year-on-year.
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Leasing Portfolio (2025):PLN7.2 billion, 9% increase year-on-year.
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Assets Growth:9% increase year-on-year, exceeding PLN100 billion.
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Cost-to-Income Ratio:37.9% annually.
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Net Interest Margin (NIM) (Q4 2025):5.38%.
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Warning! GuruFocus has detected 6 Warning Sign with STU:GEB.
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Release Date: February 24, 2026
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
Positive Points
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Alior Bank SA ( STU:A6O ) reported a strong revenue performance in the fourth quarter of 2025, with revenues reaching almost PLN1.5 billion.
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The bank achieved a net profit of PLN688 million in the fourth quarter, marking a 12% increase compared to the previous year's quarter.
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Alior Bank SA ( STU:A6O ) experienced significant growth in mobile app users, with a 17% increase, the fastest in the sector.
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The bank's cost-to-income ratio improved to 37.9% annually, indicating effective cost management.
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Alior Bank SA ( STU:A6O ) maintained a strong capital position with T1 and TCR ratios at 17.73%, providing a solid buffer above regulatory minimums.
Negative Points
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Interest income decreased by 4% year-on-year in the fourth quarter, reflecting the impact of lower interest rates.
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Net profit for the entire year of 2025 decreased by 3% compared to the previous year, attributed to the drop in interest rates.
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The bank experienced a churn in customer base due to the conclusion of individual promotional activities, leading some customers to move to other banks.
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Alior Bank SA ( STU:A6O ) faced challenges in the micro enterprise segment, with a high NPL ratio requiring ongoing portfolio cleanup.
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The bank's interest rate margin decreased from 6% to 5.38%, impacted by lower interest rates and changes in product mix.
Q & A Highlights
Q: What was the impact of the NPL sale on the fourth quarter of 2025? A: In the fourth quarter, we recognized a sale of the second important portfolio that was sold in the previous year. The income from that sale was PLN110 million. - Marcin Ciszewski, Vice President of the Management Board
Q: What sensitivity to interest rate changes can be expected after 2025? What is the current SOT ratio and the NII sensitivity to a rate cut by 100 points? A: We assume that the SOT ratio will be maintained at the regulatory level, ending the year at 4.5% in T1. A 100 bps rate cut should impact PLN120 million. - Marcin Ciszewski, Vice President of the Management Board
Q: What are the expectations for the dynamics of the loan portfolio in 2026, particularly in the business sector? A: We expect positive dynamics in consumer loans, especially mortgage loans. In the corporate sector, growth is anticipated in small and medium-sized companies and leasing, with a 16% year-on-year increase. - Piotr Zabski, President of the Management Board
Q: What trends can be expected in the SKD sector, and will the target reserve level represent 100%? A: SKD is a sector-wide issue. We aim to reflect dynamics in our reserve structure, but we don't expect it to reach 100%. The majority of cases are in our favor, and we don't foresee the need for further reserves at the same level as 2025. - Zdzislaw Wojtera, Vice President of the Management Board
Q: How does the churn of Alior Bank customers compare to the market average, and how does the bank plan to manage it? A: Our churn is similar to the market average. Most customers have accounts in multiple banks. Marketing campaigns in 2024 led to some outflux, but 2025 activities do not carry the same risk. - Piotr Zabski, President of the Management Board
Q: What is the expected dynamics of the result of interest rates from commissions and operating costs in the current year? A: We aim to maintain revenue streams in 2026 aligned with 2025 levels, compensating for interest rate cuts with new business growth. We plan to keep costs below the 5% level, including BFG costs. - Zdzislaw Wojtera, Vice President of the Management Board
Q: Can we expect a 30% increase in strategy perspective in 2026, surpassing 2025? A: We believe a 30% increase is achievable, especially in segments where we feel confident. Sales have increased significantly, and we intend to continue this growth trajectory. - Piotr Zabski, President of the Management Board
Q: What is the expected dynamics of the number of employees in 2026? A: Employment is managed dynamically, and automation may lead to a reduction in some areas, but new jobs may arise elsewhere. We cannot provide a straightforward answer due to the dynamic environment. - Piotr Zabski, President of the Management Board
For the complete transcript of the earnings call, please refer to the full earnings call transcript .
