mBank's Q3 2026 net profit rises to PLN 1,085 million, in line with market consensus

In brief

• mBank reported third-quarter 2026 net profit of PLN 1,085 million, up from PLN 837 million a year earlier and close to consensus.
• Mortgage sales and deposits grew strongly, and the net interest margin widened to 3.57 percent.
• Shares rose more than 6 percent to record levels on the results.

Profit rises in line with forecasts

The Polish lender's group net profit for the third quarter of 2026 reached PLN 1,085 million, up from PLN 837 million in the same period of 2025 (Zysk netto mBanku w III kwartale rośnie. Wynik zgodny z konsensusem rynku – Bankier.pl). Analysts had expected PLN 1,097 million, so the result came in slightly below their projection but within the range the market had priced in.

Lending and margin drive the quarter

The improvement was supported by stronger lending volumes and a recovery in net interest margin, which the bank said had benefited from disciplined cost control (Earnings call transcript: mBank posts record Q3 2026 profit as margin rebounds – Investing.com). Net interest income climbed 9 percent quarter on quarter to PLN 2.7 billion, while the margin widened to 3.57 percent.

Demand for home loans set a new high, with quarterly mortgage sales reaching PLN 8.2 billion. That figure was 33 percent above the second quarter and roughly 70 percent above a year earlier. Customer deposits grew 19 percent year on year to PLN 255 billion.

Nine-month results and cost outlook

For the first nine months of 2026, the bank reported net profit of PLN 3.1 billion, up 24 percent from a year earlier. Management expects the cost-to-income ratio for the full year to stay below 33 percent.

Market reaction

Analysts welcomed the figures as evidence that Polish bank profitability is recovering after a period of pressure linked to Swiss franc loans and recent interest rate cuts (Akcje mBanku drożeją o ponad 6 proc. Analitycy chwalą dynamikę wyników – Puls Biznesu). Shares rose more than 6 percent, reaching record levels (mBank rozpycha się w hipotekach. Ma za sobą najlepszy kwartał w historii – WNP.pl).

Quarterly profit comparison

• Q3 2025 net profit: PLN 837 million
• Q3 2026 net profit (consensus): PLN 1,097 million
• Q3 2026 net profit (actual): PLN 1,085 million