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Polish (WIG) Banks Industry Analysis

UpdatedJun 26, 2026
DataAggregated Company Financials
Companies11
  • 7D-2.6%
  • 3M15.8%
  • 1Y40.0%
  • YTD17.4%

Over the last 7 days, the Banks industry has dropped 3.9%, driven by pullbacks in BNP Paribas Bank Polska and mBank of 9.7% and 3.7%, respectively. This takes the industry's 12 month performance to a gain of 43%. As for the next few years, earnings are expected to grow by 7.3% per annum.

Industry Valuation and Performance

Has the Polish Banks Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 26 Jun 2026zł453.5bzł109.2bzł39.4b10.5x11.5x4.2x
Sun, 24 May 2026zł433.8bzł109.2bzł39.4b10.3x11x4x
Tue, 21 Apr 2026zł451.6bzł109.0bzł40.6b10x11.1x4.1x
Thu, 19 Mar 2026zł392.5bzł110.3bzł40.7b9.2x9.6x3.6x
Sat, 14 Feb 2026zł401.0bzł110.4bzł40.1b9.6x10x3.6x
Mon, 12 Jan 2026zł383.5bzł111.3bzł38.8b10.1x9.9x3.4x
Wed, 10 Dec 2025zł355.0bzł111.3bzł38.8b9x9.1x3.2x
Fri, 07 Nov 2025zł346.9bzł110.9bzł38.5b9.2x9x3.1x
Sun, 05 Oct 2025zł331.8bzł110.2bzł38.1b8.8x8.7x3x
Tue, 02 Sep 2025zł323.8bzł109.6bzł38.1b8.8x8.5x3x
Thu, 31 Jul 2025zł357.3bzł106.9bzł36.2b10.5x9.9x3.3x
Sat, 28 Jun 2025zł323.4bzł106.4bzł36.1b9.2x8.9x3x
Mon, 26 May 2025zł324.6bzł106.4bzł36.1b9.4x9x3x
Wed, 23 Apr 2025zł341.0bzł104.7bzł34.9b9.7x9.8x3.3x
Fri, 21 Mar 2025zł343.4bzł104.4bzł34.8b9.6x9.9x3.3x
Sun, 16 Feb 2025zł308.8bzł97.5bzł32.2b9.5x9.6x3.2x
Tue, 14 Jan 2025zł266.9bzł96.8bzł31.1b8.8x8.6x2.8x
Thu, 12 Dec 2024zł266.3bzł96.8bzł31.1b8.3x8.6x2.8x
Sat, 09 Nov 2024zł271.5bzł97.9bzł31.1b9.2x8.7x2.8x
Mon, 07 Oct 2024zł256.6bzł94.7bzł30.1b8.6x8.5x2.7x
Wed, 04 Sep 2024zł282.7bzł94.7bzł30.3b9.2x9.3x3x
Fri, 02 Aug 2024zł280.1bzł94.4bzł28.8b10.7x9.7x3x
Sun, 30 Jun 2024zł298.6bzł94.1bzł28.6b10.6x10.4x3.2x
Tue, 28 May 2024zł286.5bzł94.1bzł28.6b10.1x10x3x
Thu, 25 Apr 2024zł307.4bzł91.5bzł27.3b12.1x11.2x3.4x
Sat, 23 Mar 2024zł305.5bzł91.5bzł27.3b11.7x11.2x3.3x
Mon, 19 Feb 2024zł276.1bzł92.8bzł28.1b9.4x9.8x3x
Wed, 17 Jan 2024zł245.6bzł90.8bzł28.3b8.9x8.7x2.7x
Fri, 15 Dec 2023zł256.7bzł90.8bzł28.3b9.2x9.1x2.8x
Sun, 12 Nov 2023zł229.6bzł90.8bzł28.3b8.1x8.1x2.5x
Tue, 10 Oct 2023zł191.0bzł71.7bzł13.3b10.2x14.4x2.7x
Thu, 07 Sep 2023zł182.9bzł71.7bzł13.3b10.3x13.7x2.6x
Sat, 05 Aug 2023zł204.7bzł69.1bzł12.3b14.2x16.6x3x
Mon, 03 Jul 2023zł190.1bzł67.9bzł11.6b13.3x16.4x2.8x
Price to Earnings Ratio

16.4x


Total Market Cap: zł190.1bTotal Earnings: zł11.6bTotal Revenue: zł67.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Polish Banks Industry Price to Earnings3Y Average 10.2x202420252026
Current Industry PE
  • Investors are optimistic on the Polish Banks industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 11.5x which is higher than its 3-year average PE of 10.2x.
  • The 3-year average PS ratio of 3.1x is lower than the industry's current PS ratio of 4.1x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 50% 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 industry?

PL Market-1.88%
Financials-2.50%
Banks-2.64%
Diversified Banks-2.64%
Industry PE
  • Investors are most optimistic about the Diversified Banks industry which is trading above its 3-year average PE ratio of 10.2x.
    • Analysts are expecting annual earnings growth of 7.3%, which is higher than its past year's earnings growth of 6.4% per year.
  • Investors are most pessimistic about the Diversified Banks industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 10.2x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Banks industry, expecting annual earnings growth of 7.3% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 7.3% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
EBP Erste Bank Polskazł646.400.4%
+zł265.7m		36.7%PB1.9x

Latest News

ING
zł445.80
ING Bank Slaski
7D
-3.1%
1Y
42.7%
Narrative Update • Jun 24

ING: Higher Margin Assumptions Will Keep Expensive Earnings Multiple At Risk

Analysts have raised their price target for ING Bank Slaski to PLN 406 from PLN 382.28, citing updated assumptions for profit margins and the future P/E multiple as the main drivers of the change. What's in the News Analysts adjusted their profit margin assumptions for ING Bank Slaski, which feeds directly into the updated valuation framework.
PEO
zł230.00
Bank Polska Kasa Opieki
7D
-2.4%
1Y
26.3%
Narrative Update • Jun 24

PEO: Neutral Outlook Will Weigh Stable Earnings Profile Against Dividend And Execution Risk

Analysts have made a modest upward revision to the Bank Polska Kasa Opieki price target, lifting it by about PLN 2 to reflect slightly higher modeled fair value, a marginally adjusted discount rate, and small refinements to revenue growth, profit margin, and future P/E assumptions. What's in the News There are currently no recent public news items provided for Bank Polska Kasa Opieki in the supplied sources.
ALR
zł133.85
Alior Bank
7D
-0.9%
1Y
33.2%
Narrative Update • Jun 22

ALR: Revised Fair Value And Margin Outlook Will Shape Future Returns

Alior Bank's analyst price target has been revised from PLN 140.33 to PLN 144.08, with analysts citing updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E as the key drivers of the change. What’s in the News for Alior Bank No recent Alior Bank news stories or key developments were provided in the available sources.
BNP
zł147.20
BNP Paribas Bank Polska
7D
-9.7%
1Y
37.6%
MIL
zł19.65
Bank Millennium
7D
-4.7%
1Y
41.1%
Narrative Update • Jun 22

MIL: Future Returns Will Depend On Compressed Margins And Richer Forward P E Multiple

Analysts have fractionally adjusted their price target for Bank Millennium to PLN16.91 from PLN16.92, citing updated assumptions around revenue growth, profit margins, the discount rate and the forward P/E multiple. What’s in the News for Bank Millennium No recent Bank Millennium news items were available from the provided primary sources.
PKO
zł104.20
Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna
7D
-1.2%
1Y
41.4%
Narrative Update • Jun 22

PKO: Dividend Outlook And Recent Downgrade Will Shape Balanced Prospects

Analysts have trimmed their price target for Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna to PLN106.33, reflecting a slightly higher assumed discount rate and updated profit margin and future P/E inputs following more cautious recent research. What's in the News Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna announced an annual dividend of PLN 6.1400 per share.
EBP
zł646.40
Erste Bank Polska
7D
0.4%
1Y
36.7%
Narrative Update • Jun 22

EBP: Updated Assumptions Will Shape Future Balance Of Risk And Reward

The analyst price target for Erste Bank Polska has been adjusted slightly from PLN 635.87 to PLN 633.99. Analysts point to updated assumptions around revenue growth, profit margin and future P/E as the key drivers of the recalibration.
BHW
zł122.20
Bank Handlowy w Warszawie
7D
-9.5%
1Y
4.4%
Narrative Update • Jun 17

BHW: Demerger Vote Will Highlight Risks To Future Margin Stability

Analysts are maintaining their PLN price target for Bank Handlowy w Warszawie at around PLN 110. This reflects slightly improved expectations for revenue trends, profit margin, and future P/E levels in their updated assumptions.
MBK
zł1,382.00
mBank
7D
-3.7%
1Y
79.2%
Narrative Update • Jun 15

MBK: Higher P/E Assumptions Will Sustain An Overvalued Outlook

Analysts have raised their price target on mBank to PLN 1,112.66 from PLN 1,013.18, reflecting updated assumptions regarding fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News No recent news items, periodical coverage or key developments were provided for mBank, so there are currently no specific events to highlight based on the available sources.