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Polish (WIG) Banks Industry Analysis

UpdatedOct 03, 2025
DataAggregated Company Financials
Companies11
  • 7D5.1%
  • 3M-0.7%
  • 1Y30.0%
  • YTD27.6%

The Banks industry is up 1.1% in the last week, with Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna up 7.8%. In the last 12 months, the industry was up 25%. Earnings are forecast to grow by 5.2% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 03 Oct 2025zł331.8bzł110.2bzł38.1b8.8x8.7x3x
Sun, 31 Aug 2025zł326.7bzł109.6bzł38.1b8.8x8.6x3x
Tue, 29 Jul 2025zł347.7bzł106.4bzł36.1b10x9.6x3.3x
Thu, 26 Jun 2025zł316.4bzł106.4bzł36.1b9.1x8.8x3x
Sat, 24 May 2025zł324.6bzł106.4bzł36.1b9.4x9x3x
Mon, 21 Apr 2025zł331.8bzł104.7bzł34.9b9.5x9.5x3.2x
Wed, 19 Mar 2025zł351.4bzł104.4bzł34.8b10x10.1x3.4x
Fri, 14 Feb 2025zł314.2bzł97.5bzł32.2b9.6x9.8x3.2x
Sun, 12 Jan 2025zł271.7bzł96.8bzł31.1b9x8.7x2.8x
Tue, 10 Dec 2024zł267.9bzł96.8bzł31.1b8.3x8.6x2.8x
Thu, 07 Nov 2024zł264.2bzł95.8bzł31.3b9.1x8.4x2.8x
Sat, 05 Oct 2024zł256.6bzł94.7bzł30.1b8.6x8.5x2.7x
Mon, 02 Sep 2024zł283.9bzł94.7bzł30.3b9.2x9.4x3x
Wed, 31 Jul 2024zł284.7bzł94.1bzł28.4b10.9x10x3x
Fri, 28 Jun 2024zł294.7bzł94.1bzł28.6b10.5x10.3x3.1x
Sun, 26 May 2024zł283.3bzł94.1bzł28.6b10x9.9x3x
Tue, 23 Apr 2024zł303.8bzł91.5bzł27.3b11.8x11.1x3.3x
Thu, 21 Mar 2024zł295.8bzł91.5bzł27.3b11.2x10.8x3.2x
Sat, 17 Feb 2024zł276.1bzł92.0bzł28.0b9.4x9.8x3x
Mon, 15 Jan 2024zł250.8bzł90.8bzł28.3b9.1x8.9x2.8x
Wed, 13 Dec 2023zł255.0bzł90.8bzł28.3b9.2x9x2.8x
Fri, 10 Nov 2023zł232.1bzł84.9bzł24.2b8.8x9.6x2.7x
Sun, 08 Oct 2023zł187.4bzł71.7bzł13.3b9.9x14.1x2.6x
Tue, 05 Sep 2023zł190.6bzł71.7bzł13.3b10.5x14.3x2.7x
Thu, 03 Aug 2023zł200.4bzł68.5bzł12.6b13.6x15.9x2.9x
Sat, 01 Jul 2023zł190.1bzł67.9bzł11.6b13.3x16.4x2.8x
Mon, 29 May 2023zł174.2bzł68.9bzł11.6b11.9x15x2.5x
Wed, 26 Apr 2023zł168.8bzł64.7bzł10.2b12.1x16.5x2.6x
Fri, 24 Mar 2023zł144.3bzł64.5bzł10.7b10.2x13.5x2.2x
Sun, 19 Feb 2023zł159.0bzł63.6bzł9.0b11.3x17.6x2.5x
Tue, 17 Jan 2023zł172.3bzł62.5bzł4.9b13.6x35.2x2.8x
Thu, 15 Dec 2022zł149.1bzł62.5bzł4.9b12.2x30.5x2.4x
Sat, 12 Nov 2022zł146.8bzł61.3bzł5.2b12.4x28.3x2.4x
Mon, 10 Oct 2022zł112.7bzł66.3bzł12.3b6.5x9.2x1.7x
Price to Earnings Ratio

9.2x


Total Market Cap: zł112.7bTotal Earnings: zł12.3bTotal Revenue: zł66.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Polish Banks Industry Price to Earnings3Y Average 12.7x202320242025
Current Industry PE
  • Investors are pessimistic on the Polish Banks industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 8.5x which is lower than its 3-year average PE of 12.7x.
  • The industry is trading close to its 3-year average PS ratio of 2.8x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 46% per year over the last three years.
  • Revenues for these companies have grown 18% 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 Market1.82%
Financials4.25%
Banks5.08%
Diversified Banks5.08%
Industry PE
  • Investors are most optimistic about the Diversified Banks industry even though it's trading below its 3-year average PE ratio of 12.7x.
    • Analysts are expecting annual earnings growth of 5.2%, which is lower than the prior year's growth of 20.9% per year.
  • Investors are most pessimistic about the Diversified Banks industry, which is trading below its 3-year average of 12.7x.
Forecasted Growth
  • Analysts are most optimistic on the Diversified Banks industry, expecting annual earnings growth of 5.2% over the next 5 years.
  • However this is lower than its past earnings growth rate of 21% per year.
  • In contrast, the Diversified Banks industry is expected to see its earnings grow by 5.2% 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
PKO Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjnazł73.807.8%
+zł6.7b		36.9%PB1.8x
MBK mBankzł929.807.0%
+zł2.6b		57.6%PB2.2x
SPL Santander Bank Polskazł491.005.1%
+zł2.4b		11.6%PB1.6x
PEO Bank Polska Kasa Opiekizł181.205.3%
+zł2.4b		28.7%PB1.5x
MIL Bank Millenniumzł14.943.8%
+zł667.2m		83.3%PB2.2x

Latest News

ING
zł306.00
ING Bank Slaski
7D
1.2%
1Y
20.0%

Margin Compression And Demographic Headwinds Will Weaken Polish Banking

The consensus price target for ING Bank Slaski has been raised to PLN344.50, primarily reflecting modest improvements in revenue growth forecasts and future valuation multiples. Valuation Changes Summary of Valuation Changes for ING Bank Slaski The Consensus Analyst Price Target has risen slightly from PLN337.50 to PLN344.50.
MBK
zł929.80
mBank
7D
7.0%
1Y
57.6%

Digital Banking And Polish Lending Will Create Future Momentum

With both the discount rate and future P/E ratio remaining virtually flat, analysts have left their fair value estimate for mBank unchanged at PLN836.00. What's in the News Special/Extraordinary Shareholders Meeting scheduled to be held on Sep 18, 2025.
ALR
zł105.70
Alior Bank
7D
3.7%
1Y
19.9%

Mobile Solutions Will Grow Market In Poland Despite Margin Risks

With both the discount rate and future P/E remaining virtually unchanged, analysts maintained their consensus fair value for Alior Bank at PLN129.46. Valuation Changes Summary of Valuation Changes for Alior Bank The Consensus Analyst Price Target remained effectively unchanged, at PLN129.46.
BHW
zł107.20
Bank Handlowy w Warszawie
7D
2.7%
1Y
20.4%
PEO
zł181.20
Bank Polska Kasa Opieki
7D
5.3%
1Y
28.7%

Falling Interest Rates And Rising Costs Will Pressure Margins

With both the discount rate and future P/E ratio remaining essentially unchanged, analysts have maintained Bank Polska Kasa Opieki’s fair value at PLN208.95. What's in the News Bank Polska Kasa Opieki S.A. has scheduled a Special/Extraordinary Shareholders Meeting on Sep 03, 2025, at 10:00 Central European Standard Time.
PKO
zł73.80
Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna
7D
7.8%
1Y
36.9%

Poland's Consumer Credit And Digital Shift Will Fuel Future Progress

The consensus price target for Powszechna Kasa Oszczednosci Bank Polski Spólka Akcyjna was marginally raised to PLN88.84, primarily reflecting a notable upgrade in revenue growth expectations from 1.2% to 2.2% per annum. What's in the News Extraordinary Shareholders Meeting scheduled to consider changes in the Supervisory Board composition, assess Supervisory Board suitability, decide on costs of the meeting, and address other matters.
BNP
zł104.00
BNP Paribas Bank Polska
7D
-0.5%
1Y
15.0%

Digital Growth And Polish Trends Will Advance Banking Amid Risks

Consensus revenue growth forecasts for BNP Paribas Bank Polska have deteriorated further into negative territory, while other key valuation metrics remain stable, resulting in an unchanged fair value estimate at PLN130.27. Valuation Changes Summary of Valuation Changes for BNP Paribas Bank Polska The Consensus Analyst Price Target remained effectively unchanged, at PLN130.27.
MIL
zł14.94
Bank Millennium
7D
3.8%
1Y
83.3%

Bank's Digital Focus And Shift To Higher-Risk Assets Will Affect Future Performance And Risk

With only marginal movements in both the discount rate and future P/E multiple, Bank Millennium’s consensus analyst price target remained unchanged at PLN14.51. Valuation Changes Summary of Valuation Changes for Bank Millennium The Consensus Analyst Price Target remained effectively unchanged, at PLN14.51.
SPL
zł491.00
Santander Bank Polska
7D
5.1%
1Y
11.6%