BNP Paribas' Polish unit posts 18% profit drop on higher taxes

Business Recorder reported that the Polish unit of France's BNP Paribas posted a second-quarter net profit of 599.8 million zlotys ($160.8 million), down 18% from a year earlier. That figure fell short of the 611 million zlotys analysts had forecast, as impairment charges and a higher corporate income tax weighed on earnings.

The Polish government had announced last year that the corporate income tax rate for banks would rise to 30% in 2026, a measure meant to help finance larger defence budgets. Net interest income came to 1.46 billion zlotys, in line with expectations and slightly lower than a year ago, as lenders adjust to lower rates after several central bank cuts since May 2025.

Fee and commission income climbed 7.6% to 353 million zlotys, ahead of the market forecast, while the gross loan book expanded 9.1% on the back of consumer and mortgage lending. The lender also set aside 42.8 million zlotys for legal risks tied to consumer loans, following an April European Court of Justice ruling that bars lenders from levying interest on certain loan charges.