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Polish (WIG) Financials Sector Analysis

UpdatedMar 27, 2026
DataAggregated Company Financials
Companies72
  • 7D0.06%
  • 3M3.4%
  • 1Y11.1%
  • YTD0.1%

The Financials industry has stayed flat over the last week. As for the the longer term, the industry is up 11% over the past 12 months. As for the next few years, earnings are expected to grow by 5.5% per annum.

Sector Valuation and Performance

Has the Polish Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Mar 2026zł473.7bzł180.3bzł49.7b10.7x9.5x2.6x
Sun, 22 Feb 2026zł501.2bzł181.8bzł49.5b12x10.1x2.8x
Tue, 20 Jan 2026zł464.3bzł182.4bzł48.0b11.1x9.7x2.5x
Thu, 18 Dec 2025zł446.0bzł182.4bzł48.0b10.7x9.3x2.4x
Sat, 15 Nov 2025zł426.6bzł181.9bzł47.2b12.7x9x2.3x
Mon, 13 Oct 2025zł407.0bzł180.8bzł46.7b13x8.7x2.3x
Wed, 10 Sep 2025zł410.1bzł180.8bzł46.6b11.8x8.8x2.3x
Fri, 08 Aug 2025zł447.6bzł177.5bzł45.5b12.1x9.8x2.5x
Sun, 06 Jul 2025zł411.0bzł175.6bzł44.2b11.9x9.3x2.3x
Tue, 03 Jun 2025zł401.0bzł175.9bzł44.2b11.5x9.1x2.3x
Thu, 01 May 2025zł414.3bzł173.0bzł42.5b10.6x9.8x2.4x
Sat, 29 Mar 2025zł417.1bzł170.8bzł42.5b10.3x9.8x2.4x
Mon, 24 Feb 2025zł384.4bzł163.7bzł40.0b11.3x9.6x2.3x
Wed, 22 Jan 2025zł343.0bzł163.0bzł39.0b10.1x8.8x2.1x
Fri, 20 Dec 2024zł325.1bzł163.0bzł39.0b9x8.3x2x
Sun, 17 Nov 2024zł317.5bzł161.8bzł38.8b9x8.2x2x
Tue, 15 Oct 2024zł327.9bzł159.1bzł37.6b9.3x8.7x2.1x
Thu, 12 Sep 2024zł319.5bzł159.2bzł37.9b9.3x8.4x2x
Sat, 10 Aug 2024zł319.9bzł158.8bzł36.1b8.6x8.9x2x
Mon, 08 Jul 2024zł359.8bzł158.7bzł36.2b8.6x9.9x2.3x
Wed, 05 Jun 2024zł339.8bzł158.7bzł36.2b8.5x9.4x2.1x
Fri, 03 May 2024zł369.5bzł156.7bzł35.5b9x10.4x2.4x
Sun, 31 Mar 2024zł376.5bzł155.3bzł34.8b9.9x10.8x2.4x
Tue, 27 Feb 2024zł359.4bzł157.8bzł36.3b10.6x9.9x2.3x
Thu, 25 Jan 2024zł306.6bzł154.5bzł35.3b10.4x8.7x2x
Sat, 23 Dec 2023zł318.9bzł154.5bzł35.3b10.9x9x2.1x
Mon, 20 Nov 2023zł302.8bzł150.3bzł34.5b10.3x8.8x2x
Wed, 18 Oct 2023zł274.3bzł131.2bzł19.5b11.2x14x2.1x
Fri, 15 Sep 2023zł238.2bzł131.0bzł19.4b10.6x12.3x1.8x
Sun, 13 Aug 2023zł252.3bzł125.3bzł18.5b13.9x13.6x2x
Tue, 11 Jul 2023zł240.5bzł123.3bzł17.1b13.6x14.1x2x
Thu, 08 Jun 2023zł234.1bzł124.6bzł17.1b12.2x13.7x1.9x
Sat, 06 May 2023zł215.7bzł119.1bzł15.9b12.1x13.5x1.8x
Mon, 03 Apr 2023zł198.1bzł112.5bzł15.5b10.7x12.8x1.8x
Price to Earnings Ratio

12.8x


Total Market Cap: zł198.1bTotal Earnings: zł15.5bTotal Revenue: zł112.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Polish Financials Sector Price to Earnings3Y Average 10.1x202420252026
Current Industry PE
  • Investors are relatively neutral on the Polish Financials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 10.1x.
  • The 3-year average PS ratio of 2.2x is lower than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 47% per year over the last three years.
  • Revenues for these companies have grown 17% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Polish Financials sector?

PL Market0.19%
Financials0.059%
Diversified Financial5.20%
Banks0.56%
Mortgage Finance0%0
Insurance-1.30%
Consumer Finance-2.35%
Capital Markets-4.68%
Industry PE
  • Investors are most optimistic about the Capital Markets industry which is trading above its 3-year average PE ratio of 11.7x.
    • Analysts are expecting annual earnings growth of 4.6%, which is higher than its past year's earnings decline of 22.1% per year.
  • Investors are most pessimistic about the Diversified Financial industry, which is trading below its 3-year average of 9.1x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Finance industry, expecting annual earnings growth of 7.4% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Insurance industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
SPL Santander Bank Polskazł571.002.8%
+zł1.6b		-2.2%PB1.6x
MBK mBankzł1.07k1.9%
+zł871.8m		25.4%PB2.1x
MIL Bank Millenniumzł16.163.0%
+zł570.2m		11.4%PB2.1x
ING ING Bank Slaskizł400.500.8%
+zł390.3m		21.0%PB2.4x
BNP BNP Paribas Bank Polskazł141.501.1%
+zł221.8m		26.3%PB1.2x

Latest News

GPW
zł74.15
Gielda Papierów Wartosciowych w Warszawie
7D
-4.1%
1Y
62.6%
XTB
zł91.50
XTB
7D
-3.2%
1Y
33.3%
ING
zł400.50
ING Bank Slaski
7D
0.8%
1Y
21.0%

ING: Dividend Policy And Earnings Profile Will Support Fair Value

Analysts have adjusted their fair value estimate for ING Bank Slaski slightly higher, moving the price target from PLN 379.58 to PLN 381.44. This change reflects updated assumptions on revenue growth, profit margins and future P/E expectations.
MBK
zł1,073.50
mBank
7D
1.9%
1Y
25.4%

MBK: Refined Discount Rate And Profitability Assumptions Will Support Balanced Outlook

Analysts have nudged their mBank price target slightly higher from PLN 1,008.24 to PLN 1,013.18, citing updated assumptions around the discount rate, revenue growth, profit margin and forward P/E that modestly refine their valuation view. Valuation Changes Fair Value: PLN 1,008.24 to PLN 1,013.18, reflecting a slight upward adjustment in the modelled valuation level.
MIL
zł16.16
Bank Millennium
7D
3.0%
1Y
11.4%

MIL: Fair Value Profile Will Depend On Revenue And P/E Assumptions

Analysts have slightly raised their price target for Bank Millennium to PLN16.12 from PLN15.99, citing updated assumptions around revenue growth, profit margins and future P/E that result in a modest adjustment to their view of the bank's long term fair value profile. Valuation Changes Fair Value: PLN15.99 to PLN16.12, a small upward adjustment to the modelled long term value.
SPL
zł571.00
Santander Bank Polska
7D
2.8%
1Y
-2.2%

SPL: Future Dividend And Profitability Outlook Will Support Bullish Sentiment

Analysts have raised their price target for Santander Bank Polska from PLN 674 to PLN 733, citing updated assumptions for revenue growth, profit margins and future P/E that indicate a higher estimated fair value. What's in the News Santander Bank Polska announced an annual dividend of PLN 49.9800 per share, with payment scheduled for May 20, 2026, ex-date on May 12, 2026, and record date on May 13, 2026 (Key Developments).
PEO
zł213.00
Bank Polska Kasa Opieki
7D
-1.2%
1Y
16.3%

PEO: Neutral View Will Balance PLN 233 Fairness And Regional Execution Risk

Analysts have nudged the Bank Polska Kasa Opieki fair value estimate higher, with the price target moving from about PLN 225.65 to roughly PLN 233.62. They cite refined assumptions around revenue growth, profitability and future P/E expectations, in the context of recent research that includes a Barclays target lift to PLN 237 and a new Equal Weight initiation at Morgan Stanley.
BHW
zł110.20
Bank Handlowy w Warszawie
7D
-1.8%
1Y
-7.4%

BHW: Future P/E Will Track Stable Margins And Unchanged Fair Value

Analysts have kept their PLN price target for Bank Handlowy w Warszawie broadly unchanged at around PLN 110, reflecting stable assumptions on the discount rate, revenue trends, profit margin and future P/E. Valuation Changes Fair Value: PLN 109.63 remains unchanged, indicating no adjustment to the central valuation estimate.
PKO
zł86.54
Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna
7D
-0.5%
1Y
11.1%
BNP
zł141.50
BNP Paribas Bank Polska
7D
1.1%
1Y
26.3%
KRU
zł435.50
KRUK Spólka Akcyjna
7D
-2.4%
1Y
8.9%

KRU: Steady Fair Value And Robust 2025 Profit Outlook Will Support Upside

The analyst price target for KRUK Spólka Akcyjna is unchanged at PLN 555.35. Analysts highlight a slightly higher discount rate, slower revenue growth assumptions at 4.32%, and a higher projected profit margin of 52.51% that keeps the expected future P/E at 9.88x broadly in line with prior estimates.
PZU
zł63.08
Powszechny Zaklad Ubezpieczen
7D
-1.3%
1Y
6.7%
CAP
zł0.72
Capitea
7D
25.0%
1Y
57.5%
IPE
zł5.12
IPOPEMA Securities
7D
5.1%
1Y
57.5%

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BOS
zł10.10
Bank Ochrony Srodowiska
7D
1.0%
1Y
-22.0%