SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
2
This document is a translation from the original Polish version. In case of any discrepancies between the Polish and English
versions, the Polish version shall prevail
TABLE OF CONTENTS
SELECTED SEPARATE FINANCIAL DATA ................................................................................................................. 5
SEPARATE STATEMENT OF PROFIT OR LOSS ........................................................................................................ 6
SEPARATE STATEMENT OF OTHER COMPREHENSIVE INCOME .......................................................................... 7
SEPARATE STATEMENT OF FINANCIAL POSITION ................................................................................................. 8
SEPARATE STATEMENT OF CHANGES IN EQUITY ................................................................................................. 9
SEPARATE STATEMENT OF CASH FLOWS ............................................................................................................ 11
EXPLANATORY NOTES TO THE SEPARATE FINANCIAL STATEMENTS ............................................................. 13
1. GENERAL INFORMATION ABOUT THE BANK ................................................................................................... 13
2. ACCOUNTING PRINCIPLES APPLIED FOR THE PURPOSE OF PREPARATION OF THE SEPARATE
FINANCIAL STATEMENTS ......................................................................................................................................... 15
2.1. Basis for preparation of the separate financial statements ................................................................................................. 15
2.2. Going concern .................................................................................................................................................................... 15
2.3. Statement of compliance with IFRS ................................................................................................................................... 15
2.4. Changes in presentation of financial data .......................................................................................................................... 17
2.5. Measurement of items denominated in foreign currencies ................................................................................................. 17
2.6. Interest income and expenses ............................................................................................................................................ 18
2.7. Net fee and commission income ........................................................................................................................................ 18
2.8. Dividend income ................................................................................................................................................................. 20
2.9. Net trading income ............................................................................................................................................................. 20
2.10. Result on investment activities ........................................................................................................................................... 20
2.11. Result on derecognition of financial assets measured at amortised cost ........................................................................... 20
2.12. Result on legal risk related to foreign currency loans ......................................................................................................... 20
2.13. Other operating income and expenses ............................................................................................................................... 21
2.14. Income tax expense ........................................................................................................................................................... 21
2.15. Bank tax ............................................................................................................................................................................. 21
2.16. Classification and measurement of financial assets and liabilities ..................................................................................... 21
2.17. Intangible assets................................................................................................................................................................. 25
2.18. Property, plant and equipment ........................................................................................................................................... 26
2.19. Hedge accounting............................................................................................................................................................... 26
2.20. Provisions ........................................................................................................................................................................... 27
2.21. Leases ................................................................................................................................................................................ 28
2.22. Financial guarantees granted ............................................................................................................................................. 29
2.23. Employee benefits .............................................................................................................................................................. 29
2.24. Capital ................................................................................................................................................................................ 30
2.25. Issuance of AT1 capital bonds ........................................................................................................................................... 30
2.26. Custody operations............................................................................................................................................................. 31
2.27. Cash and cash equivalents ................................................................................................................................................ 31
3. ESTIMATES AND JUDGEMENTS ......................................................................................................................... 31
4. NET INTEREST INCOME ....................................................................................................................................... 43
5. NET FEE AND COMMISSION INCOME ................................................................................................................. 44
6. DIVIDEND INCOME ................................................................................................................................................ 45
7. NET TRADING INCOME (INCLUDING RESULT ON FOREIGN EXCHANGE) ..................................................... 45
8. RESULT ON INVESTMENT ACTIVITIES ............................................................................................................... 45
9. NET ALLOWANCES FOR EXPECTED CREDIT LOSSES ON FINANCIAL ASSETS AND PROVISIONS FOR
CONTINGENT LIABILITIES ........................................................................................................................................ 46
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
3
10. GENERAL ADMINISTRATIVE COSTS .................................................................................................................. 47
11. PERSONNEL EXPENSES ...................................................................................................................................... 47
12. DEPRECIATION AND AMORTISATION ................................................................................................................ 48
13. OTHER OPERATING INCOME .............................................................................................................................. 48
14. OTHER OPERATING EXPENSES ......................................................................................................................... 48
15. INCOME TAX EXPENSE ........................................................................................................................................ 49
16. EARNINGS PER SHARE ....................................................................................................................................... 50
17. CASH AND BALANCES AT CENTRAL BANK ..................................................................................................... 50
18. AMOUNTS DUE FROM BANKS ............................................................................................................................ 51
19. DERIVATIVE FINANCIAL INSTRUMENTS ............................................................................................................ 52
20. HEDGE ACCOUNTING .......................................................................................................................................... 56
21. LOANS AND ADVANCES TO CUSTOMERS MEASURED AT AMORTISED COST ............................................ 62
22. LOANS AND ADVANCES TO CUSTOMERS MEASURED AT FAIR VALUE THROUGH PROFIT OR LOSS .... 68
23. SECURITIES MEASURED AS AMORTISED COST .............................................................................................. 69
24. SECURITIES MEASURED AT FAIR VALUE THROUGH PROFIT OR LOSS ....................................................... 71
25. SECURITIES MEASURED AT FAIR VALUE THROUGH OTHER COMPREHENSIVE INCOME ......................... 72
26. INVESTMENTS IN SUBSIDIARIES ........................................................................................................................ 73
27. INTANGIBLE ASSETS ........................................................................................................................................... 74
28. PROPERTY, PLANT AND EQUIPMENT ................................................................................................................ 76
29. LEASES .................................................................................................................................................................. 80
30. OTHER ASSETS .................................................................................................................................................... 82
31. AMOUNTS DUE TO BANKS .................................................................................................................................. 82
32. AMOUNTS DUE TO CUSTOMERS ........................................................................................................................ 83
33. LIABILITIES UNDER ISSUED DEBT SECURITIES (INCLUDING SUBORDINATED ISSUES) ............................ 83
34. SUBORDINATED LIABILITIES .............................................................................................................................. 84
35. OTHER LIABILITIES .............................................................................................................................................. 85
36. PROVISIONS .......................................................................................................................................................... 85
37. DEFERRED INCOME TAX ..................................................................................................................................... 87
38. DISCONTINUED OPERATIONS ............................................................................................................................ 88
39. SHARE BASED PAYMENTS ................................................................................................................................. 89
40. CONTINGENT LIABILITIES ................................................................................................................................... 90
41. COLLATERAL ........................................................................................................................................................ 91
42. FAIR VALUE OF FINANCIAL ASSETS AND LIABILITIES ................................................................................... 91
43. LOAN PORTFOLIO SALE ...................................................................................................................................... 97
44. SECURITISATION .................................................................................................................................................. 98
45. CUSTODY OPERATIONS ...................................................................................................................................... 98
46. SHAREHOLDERS OF BNP PARIBAS BANK POLSKA S.A................................................................................. 98
47. SUPPLEMENTARY CAPITAL AND OTHER CAPITALS ..................................................................................... 100
48. DIVIDENDS PAID ................................................................................................................................................. 102
49. DISTRIBUTION OF RETAINED EARNINGS ........................................................................................................ 102
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
4
50. CASH AND CASH EQUIVALENTS ...................................................................................................................... 102
51. ADDITIONAL INFORMATION REGARDING THE STATEMENT OF CASH FLOWS ......................................... 102
52. RELATED PARTY TRANSACTIONS ................................................................................................................... 103
53. OPERATING SEGMENTS .................................................................................................................................... 106
54. LITIGATION, CLAIMS AND ADMINISTRATIVE PROCEEDINGS ....................................................................... 110
55. FINANCIAL RISK MANAGEMENT ...................................................................................................................... 120
55.1. Financial instrument strategy ............................................................................................................................................ 120
55.2. Credit risk ......................................................................................................................................................................... 120
55.3. Counterparty risk .............................................................................................................................................................. 130
55.4. Interest rate risk in the banking book (ALM Treasury) ...................................................................................................... 131
55.5. Market risk (interest rate risk in the trading book and currency risk) ................................................................................ 135
55.6. Liquidity risk ...................................................................................................................................................................... 137
55.7. Operational risk ................................................................................................................................................................ 141
56. CAPITAL ADEQUACY MANAGEMENT .............................................................................................................. 143
57. MAJOR EVENTS IN BNP PARIBAS BANK POLSKA S.A. IN 2025 ................................................................... 147
58. SUBSEQUENT EVENTS ...................................................................................................................................... 150
SIGNATURES OF THE MANAGEMENT BOARD MEMBERS OF BNP PARIBAS BANK POLSKA S.A. ............... 151
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
5
SELECTED SEPARATE FINANCIAL DATA
Selected separate financial data
PLN’000
PLN’000
EUR’000
EUR’000
Statement of profit or loss
Note
12 months
ended
31.12.2025
12 months
ended
31.12.2024
12 months
ended
31.12.2025
12 months
ended
31.12.2024
Net interest income
4
5,780,421
5,631,813
1,364,530
1,308,446
Net fee and commission income
5
1,181,514
1,188,293
278,909
276,078
Profit before tax
3,691,256
2,903,639
871,360
674,606
Profit after tax
3,012,195
2,320,798
711,061
539,194
Total comprehensive income
3,369,278
2,346,678
795,354
545,207
Statement of cash flows
12 months
ended
31.12.2025
12 months
ended
31.12.2024
12 months
ended
31.12.2025
12 months
ended
31.12.2024
Total net cash flows
3,019,450
2,408,579
712,773
559,588
Ratios
31.12.2025
31.12.2024
31.12.2025
31.12.2024
Number of shares (items)
46
147,880,491
147,799,870
147,880,491
147,799,870
Earnings per share
16
20.29
15.71
4.79
3.65
Statement of financial position
31.12.2025
31.12.2024
31.12.2025
31.12.2024
Total assets
176,310,134
163,087,501
41,713,425
38,166,979
Loans and advances to customers measured at
amortised cost
21
86,786,401
81,189,258
20,532,898
19,000,528
Loans and advances to customers measured at
fair value through profit or loss
22
286,183
452,506
67,708
105,899
Total liabilities
158,839,504
147,775,592
37,580,028
34,583,569
Amounts due to customers
32
141,355,067
130,830,128
33,443,364
30,617,863
Share capital
46
147,880
147,800
34,987
34,589
Total equity
17,470,630
15,311,909
4,133,397
3,583,410
Capital adequacy
31.12.2025
31.12.2024
31.12.2025
31.12.2024
Total own funds
17,407,001
15,916,910
4,118,343
3,724,996
Total risk exposure
102,421,309
90,554,074
24,231,980
21,192,154
Total capital ratio
17.00%
17.58%
17.00%
17.58%
Tier 1 capital ratio
13.70%
14.10%
13.70%
14.10%
For purposes of data conversion into EUR, the following exchange rates are used by the Bank:
For items of the statement of financial position, rates of the National Bank of Poland are applied:
● as at 31.12.2025 - 1 EUR = 4.2267 PLN
● as at 31.12.2024 - 1 EUR = 4.2730 PLN
For items of the statement of profit or loss and the statement of cash flows, the EUR exchange rate is calculated as the arithmetic
mean of the rates published by the National Bank of Poland as at the last day of each month in the period:
● for the period from 1.01.2025 to 31.12.2025 - 1 EUR = 4.2362 PLN
● for the period from 1.01.2024 to 31.12.2024 - 1 EUR = 4.3042 PLN
Calculation of earnings (loss) per share is described in Note 16.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
6
SEPARATE STATEMENT OF PROFIT OR LOSS
Note
12 months ended
31.12.2025
12 months ended
31.12.2024
restated*
Interest income
4
9,583,167
9,905,437
Interest income calculated with the use of effective interest rate
method
8,771,401
8,981,723
interest income on financial instruments measured at
amortised cost
7,849,310
8,131,361
interest income on financial instruments measured at fair
value through other comprehensive income
922,091
850,362
Income similar to interest on instruments measured at fair value
through profit or loss
811,766
923,714
Interest expense
4
(3,802,746)
(4,273,624)
Net interest income
5,780,421
5,631,813
Fee and commission income
5
1,439,476
1,467,058
Fee and commission expenses
5
(257,962)
(278,765)
Net fee and commission income
1,181,514
1,188,293
Dividend income
6
18,118
13,147
Net trading income (including exchange result)
7
1,076,959
865,207
Result on investment activities
8
(2,340)
14,374
Result on hedge accounting
20
(11,161)
1,946
Result on derecognition of financial assets measured at amortised
cost
(19,698)
(35,739)
Net allowances on expected credit losses on financial assets and
provisions for contingent liabilities
9
(155,350)
(225,350)
Result on legal risk related to foreign currency loans
54
(498,751)
(795,728)
General administrative expenses
(2,712,043)
(2,717,137)
Depreciation and amortisation
12
(528,890)
(514,858)
Other operating income
13
206,186
130,848
Other operating expenses
14
(250,357)
(248,206)
Operating result
4,084,608
3,308,610
Tax on financial institutions
(393,352)
(404,971)
Profit before tax
3,691,256
2,903,639
Income tax expense
15
(679,061)
(582,841)
Net profit
3,012,195
2,320,798
attributable to equity holders of the Bank
3,012,195
2,320,798
Earnings (loss) per share (in PLN per one share)
Basic
16
20.29
15.71
Diluted
16
20.27
15.69
* for details of restatement, see Note 2.4 Changes in presentation of financial data
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
7
SEPARATE STATEMENT OF OTHER COMPREHENSIVE
INCOME
Note
12 months ended
31.12.2025
12 months ended
31.12.2024
Net profit for the period
3,012,195
2,320,798
Other comprehensive income
Items that may be reclassified subsequently to profit or loss upon
fulfilment of certain conditions
356,033
27,255
Valuation of financial assets measured at fair value through other
comprehensive income, gross
25
347,318
43,787
Deferred income tax on the valuation of gross financial assets
measured through other comprehensive income
37
(56,160)
(8,320)
Valuation of cash flow hedging derivatives
20
78,145
(10,138)
Deferred income tax on valuation of cash flow hedging derivatives
37
(13,270)
1,926
Items that will not be reclassified to profit or loss
1,050
(1,375)
Actuarial valuation of gross employee benefits
3e
1,576
(1,698)
Deferred income tax on actuarial valuation of gross employee benefits
37
(526)
323
Other comprehensive income (net)
357,083
25,880
Total comprehensive income
3,369,278
2,346,678
attributable to equity holders of the Bank
3,369,278
2,346,678
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
8
SEPARATE STATEMENT OF FINANCIAL POSITION
ASSETS
Note
31 December 2025
31 December 2024
Cash and balances at Central Bank
17
10,224,866
11,325,551
Amounts due from banks
18
11,524,131
7,789,297
Derivative financial instruments
19
2,359,460
2,440,116
Differences from hedge accounting
20
345,550
230,658
Loans and advances to customers measured at amortised cost
21
86,786,401
81,189,258
Loans and advances to customers measured at fair value through profit
or loss
22
286,183
452,506
Securities measured at amortised cost
23
36,180,626
32,364,550
Securities measured at fair value through profit or loss
24
240,409
320,925
Securities measured at fair value through other comprehensive income
25
24,719,802
23,027,454
Investments in subsidiaries
26
108,426
108,426
Intangible assets
27
965,224
978,163
Property, plant and equipment
28
947,435
946,796
Deferred tax assets
37
710,964
685,634
Other assets
30
910,657
1,228,167
Total assets
176,310,134
163,087,501
LIABILITIES
31 December 2025
31 December 2024
Amounts due to banks
31
5,923,407
5,757,872
Derivative financial instruments
19
2,276,575
2,311,741
Differences from hedge accounting
20
320,087
260,025
Amounts due to customers
32
141,355,067
130,830,128
Liabilities under issued debt securities (including subordinated issues)
33
4,226,368
-
Subordinated liabilities
34
-
3,420,128
Lease liabilities
29
553,267
606,204
Other liabilities
35
1,977,881
2,262,300
Current tax liabilities
172,523
358,468
Provisions
36
2,034,329
1,968,726
Total liabilities
158,839,504
147,775,592
EQUITY
31 December 2025
31 December 2024
Share capital
46
147,880
147,800
Supplementary capital
47
9,110,976
9,110,976
Other reserve capital
47
4,648,934
4,024,205
AT1 capital bonds
47
650,000
650,000
Revaluation reserve
47
(184,001)
(541,084)
Retained earnings
3,096,841
1,920,012
retained profit
84,646
(400,786)
net profit for the period
3,012,195
2,320,798
Total equity
17,470,630
15,311,909
Total liabilities and equity
176,310,134
163,087,501
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
9
SEPARATE STATEMENT OF CHANGES IN EQUITY
Share capital
Supplementary
capital
Other reserve
capital
AT1 capital
bonds
Revaluation
reserve
Retained
earnings
Total
As at 1 January 2025
147,800
9,110,976
4,024,205
650,000
(541,084)
1,920,012
15,311,909
Total comprehensive income for the period
-
-
-
-
357,083
3,012,195
3,369,278
Net profit for the period
-
-
-
-
-
3,012,195
3,012,195
Other comprehensive income for the period
-
-
-
-
357,083
-
357,083
Distribution of retained earnings
-
-
658,457
-
-
(1,820,798)
(1,162,341)
Distribution of retained earnings intended for capital
-
-
658,457
-
-
(658,457)
-
Dividends paid out
-
-
-
-
-
(1,162,341)
(1,162,341)
Share issue
80
-
-
-
-
-
80
Interest paid on AT1 capital bonds
-
-
(41,077)
-
-
(14,568)
(55,645)
Management stock options*
-
-
7,349
-
-
-
7,349
As at 31 December 2025
147,880
9,110,976
4,648,934
650,000
(184,001)
3,096,841
17,470,630
*the management stock option programme is described in Note 39
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
10
Share capital
Supplementary
capital
Other reserve
capital
AT1 capital
bonds
Revaluation
reserve
Retained
earnings
Total
As at 1 January 2024
147,677
9,110,976
3,513,978
-
(566,964)
607,042
12,812,709
Total comprehensive income for the period
-
-
-
-
25,880
2,320,798
2,346,678
Net profit for the period
-
-
-
-
-
2,320,798
2,320,798
Other comprehensive income for the period
-
-
-
-
25,880
-
25,880
Distribution of retained earnings
-
-
503,830
-
-
(1,007,828)
(503,998)
Distribution of retained earnings intended for capital
-
-
503,830
-
-
(503,830)
-
Dividends paid out
-
-
-
-
-
(503,998)
(503,998)
Share issue
123
-
-
-
-
-
123
AT1 capital bonds issue
-
-
-
650,000
-
-
650,000
Management stock options*
-
-
6,397
-
-
-
6,397
As at 31 December 2024
147,800
9,110,976
4,024,205
650,000
(541,084)
1,920,012
15,311,909
*the management stock option programme is described in Note 39
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
11
SEPARATE STATEMENT OF CASH FLOWS
CASH FLOWS FROM OPERATING ACTIVITIES:
Note
12 months ended
31.12.2025
12 months ended
31.12.2024
Net profit (loss)
3,012,195
2,320,798
Adjustments for:
6,902,239
12,962,475
Income tax expense
679,061
582,841
Depreciation and amortisation
12
528,890
514,858
Dividend income
6
(18,118)
(13,147)
Interest income
4
(9,583,167)
(9,905,437)
Interest expense
4
3,802,746
4,273,624
Change in provisions
67,179
426,667
Change in amounts due from banks
51
383,053
8,065,054
Change in assets due to derivative financial instruments
(34,236)
570,467
Change in loans and advances to customers measured at amortised
cost
51
(5,678,774)
(117,129)
Change in loans and advances to customers measured at fair value
through profit or loss
166,323
201,076
Change in amounts due to banks
51
168,373
(113,260)
Change in liabilities due to derivative financial instruments
103,041
(296,282)
Change in amounts due to customers
51
10,584,232
3,781,045
Change in other assets and deferred tax assets
301,930
(431,136)
Change in other liabilities and current income tax liabilities
(278,349)
134,307
Other adjustments
51
140,103
(59,943)
Interest received
10,156,299
10,124,278
Interest paid
(3,638,994)
(4,090,806)
Tax paid
(945,961)
(683,561)
Lease fees for short-term leases not included in the valuation of the
liability
(1,392)
(1,041)
Net cash flows from operating activities
9,914,434
15,283,273
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
12
CASH FLOWS FROM INVESTING ACTIVITIES:
12 months ended
31.12.2025
12 months ended
31.12.2024
Inflows
176,136,370
241,785,413
Sale of securities
176,081,177
241,748,903
Sale of intangible assets and property, plant and equipment
37,075
13,063
Dividends received and other investment income
18,118
13,147
Disposal of shares in subsidiaries and liquidation of subsidiaries
-
10,300
Outflows
(182,237,227)
(254,811,674)
Purchase of securities
(181,771,624)
(254,347,370)
Purchase of intangible assets and property, plant and equipment
(465,603)
(464,304)
Net cash flows from investing activities
(6,100,857)
(13,026,261)
CASH FLOWS FROM FINANCING ACTIVITIES:
12 months ended
31.12.2025
12 months ended
31.12.2024
Inflows
4,184,513
1,945,797
Long-term loans received and subordinated liabilities
-
1,295,674
Debt securities issue (including subordinated issues)
4,184,433
-
AT1 capital bonds issue
-
650,000
Net inflows from issuance of shares and return of capital contributions
80
123
Outflows
(4,978,640)
(1,794,230)
Repayment of long-term loans received and subordinated liabilities
(3,608,193)
(1,148,623)
Repayment of lease liabilities
(139,407)
(141,609)
Interest paid on AT1 capital bonds
(68,699)
-
Dividends paid out
(1,162,341)
(503,998)
Net cash flows from financing activities
(794,127)
151,567
TOTAL NET CASH AND CASH EQUIVALENTS
3,019,450
2,408,579
Cash and cash equivalents at the beginning of the period
18,209,851
15,801,272
Cash and cash equivalents at the end of the period
50
21,229,301
18,209,851
Effect of exchange rate fluctuations on cash and cash equivalents
(97,104)
(91,498)
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
13
EXPLANATORY NOTES TO THE SEPARATE FINANCIAL
STATEMENTS
1. GENERAL INFORMATION ABOUT THE BANK
BNP Paribas Bank Polska S.A. (the “Bank” or “BNP Paribas”) is the parent company in the Capital Group of BNP Paribas Bank
Polska S.A. (the “Group”).
The registered office of BNP Paribas Bank Polska S.A. is located at Marcina Kasprzaka 2, 01-211 Warsaw, Poland. The Bank is
registered in Poland by the District Court for the capital city of Warsaw, 13
th
Commercial Division of the National Court Register,
under number KRS 0000011571. The duration of the parent entity and the entities of the Capital Group is unlimited.
Since 27 May 2011, pursuant to the decision of the Management Board of the Warsaw Stock Exchange (WSE), the Bank’s shares
have been listed on WSE and classified as finance - banking sector.
As at 31 December 2025, the headcount of the Bank was 7,426 FTEs, as compared to 7,746 FTEs as at 31 December 2024.
BNP Paribas is a universal commercial bank offering a wide range of banking services provided to individual and institutional
customers in accordance with the scope of services specified in the Bank’s Articles of Association. The Bank operates both in
Polish zlotys and in foreign currencies and actively participates in trading on domestic and foreign financial markets. In addition,
through its subsidiaries, the Bank conducts brokerage and leasing activities and provides other financial services.
The Bank operates mainly in Poland.
Composition of the Bank’s Management Board as at 31 December 2025:
FULL NAME
FUNCTION HELD IN THE MANAGEMENT BOARD OF THE BANK
Przemysław Gdański
President of the Management Board
André Boulanger
Vice-President of the Management Board
Małgorzata Dąbrowska
Vice-President of the Management Board
Wojciech Kembłowski
Vice-President of the Management Board
Piotr Konieczny
Vice-President of the Management Board
Magdalena Nowicka
Vice-President of the Management Board
Volodymyr Radin
Vice-President of the Management Board
Agnieszka Wolska
Vice-President of the Management Board
Changes to the composition of the Bank’s Management Board in the period from 1 January to 31 December 2025 and until the
signing of these separate financial statements:
● on 21 October 2025, Mr Andre Boulanger resigned as Vice-President of the Bank’s Management Board, Head of Corporate
and Institutional Banking (CIB) as of 31 December 2025,
● on 10 December 2025, Ms Natalie Yacoubian was appointed Vice-President of the Bank’s Management Board, Head of
Corporate and Institutional Banking (CIB) as of 1 January 2026,
● on 2 January 2026, Ms Agnieszka Wolska resigned as Vice-President of the Bank’s Management Board as of 2 January 2026.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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Composition of the Bank’s Supervisory Board as at 31 December 2025:
FULL NAME
FUNCTION HELD IN THE SUPERVISORY BOARD OF THE BANK
Lucyna Stańczak-Wuczyńska
Chairperson of the Supervisory Board, Independent Member
Francois Benaroya
Vice-Chairperson of the Supervisory Board
Jean – Charles Aranda
Member of the Supervisory Board
Małgorzata Chruściak
Independent Member of the Supervisory Board
Sophie Heller
Member of the Supervisory Board
Monika Kaczorek
Independent Member of the Supervisory Board
Bożena Leśniewska
Independent Member of the Supervisory Board
Vincent Metz
Member of the Supervisory Board
Piotr Mietkowski
Member of the Supervisory Board
Khatleen Pauwels
Member of the Supervisory Board
Jacques Rinino
Independent Member of the Supervisory Board
Mariusz Warych
Member of the Supervisory Board
Changes in the composition of the Supervisory Board in the period from 1 January to 31 December 2025:
● on 15 April 2025, the Annual General Meeting of the Bank appointed Ms Bożena Leśniewska as Independent Member of the
Bank’s Supervisory Board as of 15 April 2025 until the end of the current five-year joint term of office of the members of the
Supervisory Board,
● on 28 April 2025, Mr Mariusz Warych announced his resignation as Chairperson of the Audit Committee of the Supervisory
Board as of 28 June 2025,
● on 6 May 2025, Mr Francois Benaroya announced his resignation as Member of the Audit Committee of the Supervisory Board
as of 28 June 2025,
● on 7 May 2025, the Supervisory Board appointed Mr Jacques Rinino as Member of the Audit Committee of the Supervisory
Board as of 28 June 2025,
● on 7 May 2025, the Supervisory Board appointed Ms Monika Kaczorek as Chairperson of the Audit Committee of the
Supervisory Board as of 28 June 2025.
Approval of the financial statements for publication
The present Separate Financial Statements have been prepared as at 31 December 2025 and approved for publication by the
Management Board of the Bank on 4 March 2026.
The Consolidated Financial Statements of BNP Paribas Bank Polska S.A. Capital Group have been prepared as at 31 December
2025 and approved for publication by the Management Board of the Bank on 4 March 2026.
Data included in the above mentioned financial statements are presented for the financial year ended 31 December 2025 with
comparative data for the financial year ended 31 December 2024.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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2. ACCOUNTING PRINCIPLES APPLIED FOR THE
PURPOSE OF PREPARATION OF THE SEPARATE
FINANCIAL STATEMENTS
2.1. Basis for preparation of the separate financial statements
The present separate financial statements of the Bank have been prepared on the historical cost basis, with the exception of
derivative contracts, financial assets not meeting the SPPI test, financial assets assigned to the business model which does not
entail holding them to obtain contractual cash flows, equity instruments measured at fair value through profit or loss, and except
for financial instruments measured at fair value through other comprehensive income and equity instruments for which the fair
value option has been applied for other comprehensive income.
The separate financial statements of the Bank have been prepared in Polish zloty and all amounts, unless otherwise indicated, are
given in thousands of zloty (PLN thousand).
2.2. Going concern
The present separate financial statements have been prepared assuming that the Bank will continue as a going concern in
substantially the same scope, in the foreseeable future, i.e. within at least 12 months from the date of the reporting period end.
2.3. Statement of compliance with IFRS
The present separate financial statements have been prepared in accordance with the International Financial Reporting Standards
as endorsed by the European Union (“IFRS EU”).
The present separate financial statements have been prepared in accordance with the requirements specified in International
Accounting Standards (“IAS”) and International Financial Reporting Standards endorsed by the European Union (“IFRS EU”), as
well as the related interpretations, except for the standards and interpretations listed below, which are awaiting endorsement by
the European Union or have already been endorsed by the European Union but entered or will enter into force after the end of the
reporting period.
In the period included in these separate financial statements, the Bank did not early apply standards and interpretations endorsed
by the EU, which will enter into force after the balance sheet date.
New standards, interpretations and amendments to these standards already issued by the
International Accounting Standards Board (IASB) but not yet approved by the European Union
Standards /
Interpretations
Date of
issue/
publication
Date of
entry into
force in UE
Approved by
the EU
Description of changes
IFRS 19: Subsidiaries
without Public
Accountability:
Disclosures
9.05.2024
01.01.2027
No
IFRS 19 allows eligible entities to apply limited disclosure
requirements while applying the recognition, measurement
and presentation requirements of other IFRS accounting
standards.
The changes will not have a significant impact on the
Bank’s financial statements.
Amendments to 19:
Subsidiaries without
Public Accountability:
Disclosures
21.08.2025
01.01.2027
No
The amendments cover new or amended IFRS issued
between 28 February 2021 and 1 May 2024 that were not
considered when IFRS 19 was first issued.
The changes will not have a significant impact on the
Bank’s financial statements.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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Amendments to IAS 21:
Changes in Foreign
Exchange Rates:
Translation to a
Hyperinflationary
Presentation Currency
13.11.2025
01.01.2027
No
The amendments clarify among others how entities
translate financial statements from a non-hyperinflationary
functional currency into a hyperinflationary presentation
currency and how to proceed where the entity’s
presentation currency is no longer a hyperinflationary
currency but the entity’s functional currency remains a non-
hyperinflationary currency.
The changes will not have a significant impact on the
Bank’s financial statements.
New standards, interpretations and amendments to the existing standards issued by the
International Accounting Standards Board (IASB), approved by the European Union but not yet
effective and not implemented by the Bank yet
Standards /
Interpretations
Date of
issue/
publication
Date of
entry into
force in
UE
Date of
approval by
EU
Description of changes
Amendments to IFRS
9 and IFRS 7:
Changes to the
classification and
measurement of
financial instruments
30.05.2024
01.01.2026
27.05.2025
The amendments clarify, among others, that the financial
liability is derecognised on the settlement date and
introduce an accounting policy choice to derecognise
financial liabilities settled by means of an electronic
payment system before the settlement date.
The changes will not have a significant impact on the
Bank’s financial statements.
Amendments to IFRS
9 and IFRS 7: Nature-
dependent electricity
contracts
18.12.2024
01.01.2026
30.06.2025
The amendments include:
▪ clarifying the application of the ‘own-use’ requirements;
▪ permitting hedge accounting if these contracts are used
as hedging instruments; and
▪ adding new disclosure requirements to enable investors
to understand the effect of these contracts on a company’s
financial performance and cash flows.
The changes will not have a significant impact on the Bank’s
financial statements.
Annual Improvements
to IFRS - Volume 11
18.07.2024
01.01.2026
09.07.2025
The IASB’s annual amendment cycle process deals with
non-urgent but necessary clarifications and amendments to
IFRSs. In July 2024, the International Accounting
Standards Board issued ‘Annual Improvements to IFRS -
Volume 11’.
The changes will not have a significant impact on the Bank’s
financial statements.
IFRS 18 Presentation
and Disclosure of
Information in Financial
Statements
9.04.2024
01.01.2027
16.02.2026
IFRS 18 introduces new presentation and disclosure
requirements in the financial statements for all entities
applying IFRS standards.
The Bank analyses the impact of the change on the Bank’s
financial statements.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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New standards, interpretations and amendments to the existing standards issued by the
International Accounting Standards Board (IASB), approved by the European Union, effective and
applied by the Bank
Standards /
Interpretations
Date of
issue/
publication
Date of
entry into
force in
UE
Date of
approval by
EU
Description of changes
Amendments to IAS 21
Changes in Foreign
Exchange Rates:
Nonexchangeability of
currencies
15.08.2023
01.01.2025
12.11.2024
The amendments set out how an entity should assess
whether a currency is convertible into another currency
and how it should set a spot exchange rate when it is not.
The changes do not have a significant impact on the
Bank’s financial statements.
2.4. Changes in presentation of financial data
Compared to the financial statements prepared for the year ended 31 December 2024, the Bank has changed the method of
presentation of:
● gains/losses on sale of securities measured at amortised cost
Before the change, gains/losses on sale of such instruments were presented under net trading income; after the change, they are
presented under the result on derecognition of financial assets measured at amortised cost. The table below presents the details:
Separate statement of profit and loss
12 months ended
31.12.2024
change
12 months ended
31.12.2024
before the
change
after the change
Net trading income (including exchange result)
841,037
24,170
865,207
Result on derecognition of financial assets measured at amortised
cost
(11,569)
(24,170)
(35,739)
● income from write-down of overdue funds in customer accounts
Before the change, income from write-down of overdue funds in customer accounts was presented under fee and commission
income; after the change, it is presented under other operating income. The table below presents the details:
Separate statement of profit and loss
12 months ended
31.12.2024
change
12 months ended
31.12.2024
before the
change
after the change
Fee and commission income
1,481,276
(14,218)
1,467,058
Other operating income
116,630
14,218
130,848
In the opinion of the Bank, the changes to presentation outlined above are a better reflection of the economic nature of such items
and consequently provide more useful information to recipients of the financial statements.
2.5. Measurement of items denominated in foreign currencies
Functional and presentation currency
Items included in the financial statements are measured in the currency of the primary economic environment in which the Bank
operates (“functional currency”). The separate financial statements are presented in PLN thousands, which is the functional
currency of the Bank and the presentation currency of the Bank’s financial statements.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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Transactions and balances
Transactions expressed in foreign currencies are translated into the functional currency at the exchange rate applicable as at the
transaction date.
At the end of the reporting period, monetary assets and liabilities expressed in currencies other than Polish zloty are translated
into Polish zlotys using the average exchange rate for a given currency determined by the National Bank of Poland in force at the
end of the reporting period. Foreign exchange differences resulting from the translation are recognised as a net trading income.
Non-monetary assets and liabilities recognised at historical cost expressed in a foreign currency are disclosed at the historical
exchange rate as at the transaction date. Non-monetary assets and liabilities recognised at fair value expressed in a foreign
currency are translated at the exchange rate effective at the date of fair value measurement.
Basic currency rates used in the preparation of the present financial statements as at 31 December 2025 and 31 December 2024
are presented in the table below:
31.12.2025
31.12.2024
1 EUR
4.2267
4.2730
1 USD
3.6016
4.1012
1 GBP
4.8399
5.1488
1 CHF
4.5390
4.5371
2.6. Interest income and expenses
The statement of profit or loss includes all interest income on financial instruments measured at amortised cost using the effective
interest rate, financial assets measured at fair value through other comprehensive income and income similar to interest income
on financial assets and liabilities measured at fair value through profit or loss.
The effective interest rate is the rate used to estimate future payments or incomes throughout the expected life of financial assets
or financial liabilities, discounted to the gross balance sheet value of a financial asset or to the amortised cost of a financial liability.
The calculation of the effective interest rate includes all commissions paid and received by the parties, transaction costs and any
other premiums and discounts that are an integral part of the effective interest rate.
Interest income is calculated using the effective interest rate based on the balance sheet amount of financial assets except for
financial assets that are impaired due to credit risk or purchased or originated credit impaired financial assets (“POCI”). At the
moment of recognition of financial assets impairment (reclassification of a financial asset to Stage 3), interest income is accrued
on the net value of the financial asset and is recognised at the effective interest rate.
In case of POCI, the Bank uses the credit risk-adjusted effective interest rate to calculate interest income. Interest income is
calculated based on net exposure (gross exposure less impairment allowance).
Interest income and expenses are presented in Note 4 Net interest income.
2.7. Net fee and commission income
Fees and commissions, which are not accounted for using the effective interest rate method but in accordance with the straight-
line method or recognised on a one-off basis, are recognised in “Net fee and commission income”.
Income settled over time with straight-line method includes commissions on overdrafts, revolving loans and commitments granted
(guarantees and credit facilities).
Fees for the Bank’s commitment to grant a loan or advance (commissions on promises issued) are deferred and as soon as
financial assets are recognised they are accounted for as an element of the effective interest rate or on a straight-line basis.
Revenues from contracts with customers include both fees and commissions, which are settled over time using the straight-line
method (throughout the period of providing the service) as well as on a one-off basis. Revenues are presented as the amount of
the Bank’s remuneration specified in the contracts with customers and do not include amounts collected by the Bank on behalf of
third parties, which are then transferred to them (i.e., insurance premiums collected which the Bank transfers to insurance
companies). The Bank recognises revenues when the performance obligation is met (or when it is being fulfilled) by transferring
the promised good or service (i.e. an asset) to the customer.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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Loans and advances
In respect of loan agreements, the Bank generates, in particular, revenues for readiness to give the funding under the granted
credit limits, which are recognised in the statement of profit or loss on a straight-line basis over the period for which the limit was
granted. For contracts without a specified repayment schedule, in the case of revolving loans, fees for each instalment of a loan
tranche are recognised over the average expected repayment period. Under certain loan agreements, the Bank receives
commissions for readiness or commitment, the amount of which is calculated on the basis of loan balances at the specified moment
of the duration of the loan agreement. Despite the fact that they partially constitute remuneration for the provision of services, in
case of which the customers derive benefits in a continuous manner, due to significant uncertainty about the credit balance at a
specific point in the future, the Bank recognises this type of income when the basis of its calculation is certain.
Debit and credit cards
Under debit card agreements with customers, the Bank recognises revenues from various types of fees and commissions. In a
majority of cases, these are activities in which the Bank executes its obligation to provide services at a given moment of time, in
which the customer simultaneously benefits from these services at once, the remuneration due is recognised by the Bank in
revenues on a one-off basis. An example may be the fee for issuing a card, for checking the account balance at an ATM, for
withdrawing cash at an ATM. In addition to one-off fees for banking operations, analogous to those described above for debit
cards, the Bank receives annual fees for the use of credit cards sold by the Bank together with separate services, including card
insurance. The Bank allocates remuneration to individual performance obligations and recognises commissions throughout the
service provision period.
Commitments to grant loans and advances
The Bank charges a commission for its readiness to grant a loan or advance, which constitutes a separate remuneration for
commissions received from the loans at the moment of their disbursement, such as preparation commissions. Despite the provision
of the service over time, the Bank recognises the revenue on account of the commission at the moment of the decision regarding
the disbursement of the loan, because at the moment of collecting the provision it is not possible to estimate the period by which
the due remuneration should be spread.
Investment brokerage and asset management
The Bank acts as a broker in the sale of participation units of investment funds for BNP Paribas Towarzystwo Funduszy
Inwestycyjnych S.A. (“TFI”), and receives a part of the commission charged for sales from customers. The Bank recognises
revenue monthly based on the sales volume for a given month. In addition, the Bank receives variable remuneration from TFI as
part of the commission for the management of assets created as a result of the sale of investment fund participation units, which
TFI collects from customers. The Bank’s remuneration depends on the valuation of assets in the portfolio under management. The
Bank recognises revenue at the end of the month based on its own estimates in the area of valuation of assets under management,
which do not imply a potential significant reversal of revenue when settling revenues from TFI.
Insurance brokerage
The Bank, acting as an agent in the sale of insurance for an insurance company, is entitled to receive remuneration in the form of
a commission and additional remuneration, which the Bank recognises on a quarterly basis based on the periodic results of the
insurance sale volume in an amount that will not be subject to significant reversal in the future, in accordance with IFRS 15.
Recognition of bancassurance income and expenses
Direct relation of a bancassurance product and financial instrument occurs in particular if at least one of the following conditions is
met: the offered financial instrument is always accompanied by the bancassurance product, or the bancassurance product is
offered only accompanied by the financial instrument, i.e. the Bank does not offer any bancassurance products with identical legal
form, terms and economic contents without the accompanying financial instrument.
Recognition of bancassurance income for related transactions
For related transactions including bancassurance products and financial instruments, remuneration from sales of the
bancassurance products constitutes an integral part of the fee for the offered financial instrument.
Fee for bancassurance products offered in related transactions with financial instruments measured at amortised cost is accounted
for using the effective interest rate method and recognised in interest income for one-off premium or in fee and commission income
on a monthly basis for a monthly premium.
Fee for the brokerage services, whose value is determined based on their economic contents, is recognised in fee and commission
income upon sale or renewal (if the renewal is significant) of a bancassurance product.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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Recognition of bancassurance expenses for related transactions
Expenses directly related to the sale of a bancassurance product are settled in accordance with the matching principle as an
element of amortised cost of a financial instrument if the total income related to the sale of the product is settled with the effective
interest rate method or, respectively, proportionally to the classification of the income as recognised within amortised cost
calculation and that recognised on a one-off basis or over time as the fee for the agency services, if such classification has been
introduced.
Recognition of bancassurance income and expenses for transactions not classified as related
If a financial instrument and a bancassurance product are sold in two separate transactions, the Bank’s fee for the sale of the
bancassurance product is recognised separately from the fee for the financial instrument.
Fee for the sale of bancassurance products that do not require the Bank to provide any post-sale services is recognised as income
as at the effective/renewal date of the relevant insurance policy. The income is recognised under fee and commission income.
Fee for the services provided by the Bank over the whole life of a bancassurance product is deferred and recognised as income
based on the percentage of completion of the provided services. Application of the percentage of completion method as at the
balance sheet date is limited to cases when a result of a service transaction can be reliably estimated.
If the Bank is unable to precisely determine the number of activities performed within a given time range or a returns level, income
from services or activities performed in relation to a bancassurance product offered by the Bank is recognised on a straight-line
basis over the lifetime of the product, unless there is evidence that another method would be more representative of the stage of
completion.
Net fee and commission income are presented in Note 5 Net fee and commission income.
2.8. Dividend income
Dividend income is recognised in the statement of profit or loss once the Bank’s right to dividends has been determined.
Dividend income is presented in Note 6 Dividend income
2.9. Net trading income
Net trading income includes all income and expenses resulting from the change in the fair value of financial assets and liabilities
classified as measured at fair value through profit or loss, and interest income and interest expenses on derivatives, except
derivative instruments in hedge accounting.
This item also includes gains and losses on the translation of assets and liabilities denominated in foreign currencies (revaluations).
Net trading income is presented in Note 7 Net trading income (including result on foreign exchange).
2.10. Result on investment activities
The result on investment activities includes income and expenses from impairment of investments in subsidiaries, income and
expenses on financial assets classified as measured at fair value through other comprehensive income, and income and expenses
on loans and advances to customers measured at fair value through profit or loss, except for interest.
Result on investment activities is presented in Note 8 Result on investment activities.
2.11. Result on derecognition of financial assets measured at amortised
cost
Derecognition of financial instruments measured at amortised cost applies to cases of material modification (for a description of
the identification and recognition of material modifications, see Note 2.16 Classification and measurement of financial assets and
liabilities, Modification of financial assets).
2.12. Result on legal risk related to foreign currency loans
This item includes the result of legal risks related to foreign currency loans. For a description of the accounting policy and
methodology for calculating the impact of this risk, see Note 54 Litigation, claims and administrative proceedings.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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2.13. Other operating income and expenses
Other operating income and expenses presents items that are not directly related to the core operating activities of the entity.
The Bank includes in abovementioned item mainly: result on sale and liquidation of fixed assets, compensations received and
paid, revenue and expenses arising from other services not related to the core business of the Bank, income and expenses related
to provisions for litigation, excluding litigation related to mortgage loans in CHF.
Other operating income also includes income from contracts with customers for intermediation in the sale of products and services
offered by other entities (including entities belonging to the Bank’s Group) or the reinvoicing of costs incurred by the Bank to other
entities (in this case, due to acting as an agent, the Bank presents net income).
Other operating income and expenses are presented in Note 13 Other operating income and Note 14 Other operating expenses
2.14. Income tax expense
Charge on gross financial profit/loss includes current tax payable and debit/credit arising from a value of change of the deferred
tax asset/liability.
Current tax liabilities and receivables for the current and prior periods are measured at projected amounts payable to tax authorities
(or reimbursable) using tax rates and regulations valid in law or in fact as at the end of the reporting period.
Income tax expense is presented in Note 15 Income tax expense
2.15. Bank tax
Tax on certain financial institutions (“bank tax”) is a property tax presented in the statement of profit or loss under Tax on financial
institutions (it is not an income tax). In accordance with the Act of 15 January 2016 on tax on certain financial institutions
(consolidated text - OJ 2023, item 623), taxpayers include domestic banks and their tax base is the surplus of the total value of the
Bank’s assets resulting from the statement of turnover and balances as at the last day of the month on the basis of entries in the
general ledger accounts over the amount of PLN 4 billion. The bank tax amounts to 0.0366% of the tax base per month.
2.16. Classification and measurement of financial assets and liabilities
Classification and measurement of financial assets
In accordance with IFRS 9, financial assets are qualified to the following categories of measurement at the moment of their initial
recognition:
● financial assets measured at amortised cost,
● financial assets measured at fair value through other comprehensive income,
● financial assets measured at fair value through profit or loss.
The classification of financial assets in accordance with IFRS 9 depends on:
● the business model relating to financial asset management, and
● the characteristics of contractual cash flows, i.e., whether contractual cash flows represent solely payments of principal and
interest (“SPPI”).
Irrespective of the above, there is an option at the moment of initial recognition of the financial asset to classify it irrevocably as
measured at fair value through profit or loss (if there was no such possibility, the asset would be classified as measured at amortised
cost or at fair value through other comprehensive income), if such approach leads to the more relevant information eliminating or
significantly reducing the inconsistency in the measurement or recognition of assets or liabilities or related gains and losses. The
Bank did not designate any financial assets to be measured at fair value through profit or loss at the moment of their initial
recognition.
Investments in equity instruments
Investments in equity instruments are measured at fair value through profit or loss. At initial recognition, an irrevocable choice to
recognise them in other comprehensive income may be made regarding the recognition of subsequent changes in the fair value
of an investment in an equity instrument that is not held for trading or is not a contingent consideration recognised by the Bank as
a business combination in accordance with IFRS 3.
If the option to measure the instrument at fair value through other comprehensive income is exercised, only dividends resulting
from this investment are recognised in the statement of profit or loss. Profit or loss resulting from the measurement in other
comprehensive income are not reclassified to the statement of profit or loss.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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In the case of equity investments, the Bank did not use the option of fair value measurement through other comprehensive income.
Business models
The Bank classifies its financial assets to three business models, taking into account the purpose of maintaining a financial
instrument:
Model 1: Receiving contractual cash flows.
Under Model 1, the main business goal is to collect contractual cash flows from the acquired or originated financial assets.
In order to determine whether cash flows will be realised through the collection of contractual cash flows, the Bank analyses the
frequency, volume and period of past sales of financial assets, the reasons for these sales and expectations regarding future sales.
The sale of a financial asset due to the occurrence of any of the following circumstances does not result in a change in the business
model:
● sale of a financial asset due to an increase in credit risk,
● sale of a financial asset takes place close to its maturity date.
Selling a financial asset due to any of the following circumstances does not result in a change in the business model, provided that
the sales are infrequent or their values are not significant:
● sale of a financial asset for the purpose of managing concentration risk,
● sale of a financial asset is forced by a third party (e.g. a regulator).
Model 2: Receiving contractual cash flows and sale of financial assets.
Under Model 2, both receiving contractual cash flows and sale of the acquired or originated financial assets are integral elements
of the portfolio’s business objective.
Model 3: Other financial assets not classified to Model 1 or Model 2
In a situation when specific groups of financial assets were not acquired or originated under Model 1 and Model 2, they should be
classified as Model 3. Most often, Model 3 refers to a strategy that assumes the realisation of cash flows from the sale of financial
assets or portfolios that are managed based on their fair value.
Assets acquired or originated with impairment identified (POCI assets)
In addition, the Bank distinguishes categories of assets acquired or granted with credit impairment. POCI assets are financial
assets measured at amortised cost, which are impaired at the moment of initial recognition.
At the moment of initial recognition, POCI assets are recognised at their fair value. After initial recognition, POCI assets are
measured at amortised cost using the effective interest rate adjusted for credit risk to determine the amortised cost of the financial
asset component and interest income generated by these assets - the CEIR rate. In the case of POCI exposures, the change in
expected credit losses - over the entire lifetime - compared to those estimated at the date of their initial recognition is recognised
in statement of profit or loss. Financial assets that were classified as POCI at the moment of initial recognition should be treated
as POCI in every subsequent period until they are derecognised from the Bank’s statement of financial position.
SPPI test
For the purpose of classification and subsequent measurement of financial assets, the Bank verifies whether the cash flows from
a given instrument constitute solely the payment of principal and interest calculated on the principal.
For the needs of the assessment of cash flow characteristics, the principal is defined as the fair value of the financial asset at the
moment of initial recognition. Interest is defined as the reflection of the time value of money and credit risk related to the unpaid
part of the principal and other risks and costs associated with the standard loan agreement (e.g. liquidity risk or administrative
costs) and margin.
When assessing whether contractual cash flows constitute solely payments of principal and interest, the Bank analyses the cash
flows of the instrument resulting from the contract, i.e. whether the contract contains any provisions that could change the date of
contractual payments or their amount in such a way that, in economic terms, they will not constitute solely payments of principal
and interest on the outstanding principal.
A financial asset is measured at amortised cost if both of the following conditions are met:
● the asset is held by the Bank in accordance with the business model whose purpose is to maintain assets to collect contractual
cash flows,
● contractual terms of the financial asset represent contractual cash flows that are solely payment of principal and interest.
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A financial asset is measured at fair value through other comprehensive income if both of the following conditions are met:
● the asset is held by the Bank in accordance with the business model which aims to both receive contractual cash flows and
sell assets,
● the contractual terms of the financial asset represent contractual cash flows that are solely payment of principal and interest.
Other financial assets are measured at fair value through profit or loss.
Modification of financial assets
If the terms of a financial asset agreement change, the Bank assesses whether the cash flows generated by the modified asset
differ significantly from those generated by this asset before the terms of its agreement are modified. If a significant difference is
identified, the original financial asset is derecognised from the statement of financial position, and the modified financial asset is
recognised as a “new” financial asset, which is recognised in its fair value and the new effective interest rate applied to the new
asset is calculated. Income or expenses arising as of the date of determination of the effects of a material modification are
recognised in the statement of profit or loss under Result from derecognition of financial assets measured at amortised cost.
If the cash flows generated by the modified asset do not differ significantly from the original cash flows, the modification does not
result in derecognition of the financial asset from the statement of financial position. In such case, the Bank performs recalculation
of the gross book value of the financial asset using modified contractual cash flows discounted using the original effective interest
rate, and the result arising from the immaterial modification is recognised in interest income.
The assessment of whether a given modification of financial assets is significant depends on the fulfilment of qualitative and
quantitative criteria.
If there is evidence that the modified financial asset is initially impaired due to credit risk, it is necessary to calculate the effective
interest rate adjusted for the credit risk of that financial asset.
Recognition of the impact of legal risk resulting from legal proceedings concerning CHF mortgage loans
In terms of recognising the impact of legal risk resulting from legal proceedings concerning CHF mortgage loans, the Bank applied
the provisions of IFRS 9 paragraph B.5.4.6 and recognised the impact of this legal risk as an adjustment to the gross carrying
amount of the CHF loan portfolio. In accordance with the standard, when an entity changes the estimates of payments or receipts
(excluding immaterial modifications and changes in the estimates of expected credit losses), it adjusts the gross carrying amount
of a financial asset or the amortised cost of a financial liability (or group of financial instruments) so that this value reflects the
actual and revised estimated cash flows resulting from the contract. The allocation of the impact of legal risk resulting from legal
proceedings concerning CHF mortgage loans between active and repaid loans is made based on observed lawsuits received. For
active loans, the approach results in recognising the estimated impact of legal risk as an adjustment to the gross carrying amount
of loans. For repaid loans as well as when the estimated inflow exceeds the gross carrying amount of the loan, the provision is
presented in accordance with IAS 37.
Impairment of financial assets
The requirements of IFRS 9 relating to impairment are based on the expected credit loss model.
The Bank applies a three-step approach to the measurement of expected credit losses from financial instruments measured at
amortised cost or at fair value through other comprehensive income, for which no impairment was recognised as at the moment of
initial recognition.
As a result of changes in the credit quality since the initial recognition, financial assets are transferred between the following three
stages:
● Stage 1: An allowance due to expected credit losses in 12-month horizon
If credit risk did not increase significantly from the date of the initial recognition, and impairment of the loan was not identified from
the moment of its granting, the Bank recognises an allowance for the expected credit loss related to the probability of default within
the next 12 months.
Interest income on such assets is recognised based on the balance sheet amount (amortised cost before the adjustment for
impairment allowance) using the effective interest rate.
● Stage 2: An allowance due to expected credit losses for the entire lifetime – significant increase in the credit risk since the
moment of initial recognition and no impairment of a financial asset identified.
In the case of an exposure for which credit risk has increased significantly since the moment of its initial recognition, but no
impairment of the financial asset was identified, an impairment allowance is created for the expected credit loss for the entire
financing period. Interest income on such assets is recognised based on the gross balance sheet amount (amortised cost before
the adjustment for impairment allowance) using the effective interest rate.
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● Stage 3: An allowance due to expected credit losses for the entire lifetime – impairment of a financial asset
Financial assets are subject to impairment due to the credit risk resulting from an event or events that occurred after the initial
recognition of a given asset. For financial assets, for which an impairment was identified, an allowance is created for the expected
credit loss for the entire financing period, while interest income is recognised based on the net balance sheet value (including the
impairment allowance) using the effective interest rate.
At each balance sheet date, the Bank assesses whether there has been a significant increase in credit risk for financial assets
since the moment of their initial recognition, by comparing the risk of loan default during the expected financing period as at the
balance sheet date and the initial recognition date, using, among others, the internal credit risk assessment system, external credit
ratings, information on delay in repayments and information from internal credit risk monitoring systems, such as warning letters
and information about restructuring.
The Bank assesses whether the credit risk has increased significantly on the basis of individual and group assessment. In order
to perform an impairment calculation on a group basis, financial assets are divided into homogeneous product groups based on
common credit risk characteristics, taking into account the type of instrument, credit risk rating, initial recognition date, remaining
maturity, industry branch, geographical location of the borrower and other relevant factors.
The value of expected credit loss is measured as the current value of all cash flow shortfalls in the expected life of a financial asset
weighted with probability of default and discounted using the effective interest rate. The shortfall in cash flows is the difference
between all contractual cash flows due to the Bank and all cash flows that the Bank expects to collect. The value of the expected
credit loss is recognised in the statement of profit or loss in the result on allowances related to the expected credit losses on
financial assets and provisions for contingent liabilities.
The Bank takes into account historical data on credit losses and adjusts them to current observable data. In addition, the Bank
uses reasonable and justified forecasts of the future economic situation, including its own judgment based on experience, with the
purpose of estimating the expected credit losses. IFRS 9 introduces an application of macroeconomic factors to the calculation of
expected credit losses on financial assets. These factors include: unemployment rate, interest rates, gross domestic product,
inflation, commercial property prices, exchange rates, stock indices, and wage rates. IFRS 9 also requires an assessment of both
the current and the forecasted direction of the economic cycles. The inclusion of forecast information in the calculation of expected
credit losses on financial assets increases the level of judgement to what extent these macroeconomic factors will affect the
expected credit losses. The methodology and assumptions, including all forecasts of the future economic situation, are regularly
monitored.
If in the subsequent period the allowance for expected credit losses decreases, and the decrease can be objectively related to an
event occurring after the impairment was recognised, then the previously recognised impairment allowance is reversed by adjusting
the allowance for expected credit losses. The amount of the reversed impairment allowance is recognised in the statement of profit
or loss.
For debt instruments measured at fair value through other comprehensive income, the measurement of the expected credit loss is
based on a three-step approach, as in the case of financial assets measured at amortised cost. The Bank recognises the amount
of the expected credit losses in the statement of profit or loss, including the corresponding value recognised in other comprehensive
income, without reducing the balance sheet amount of assets (i.e. their fair value) in the statement of financial position.
Classification and measurement of financial liabilities
Financial liabilities as at the date of their acquisition or origination are classified into the following categories:
● financial liabilities measured at fair value through profit or loss,
● other financial liabilities (measured at amortised cost).
Financial instruments – other than liabilities measured at fair value through profit or loss – are measured after initial recognition at
amortised cost using the effective interest rate. If a cash flow schedule cannot be determined for a given financial liability and
therefore the effective interest rate cannot be reliably estimated, such liability is measured at amount due.
Netting
Financial assets and liabilities are netted and presented in the statement of financial position at net amount, if a valid and
exercisable netting right occurs and the Bank intends to settle a financial asset and a financial liability net or simultaneously settle
the amount due.
Securitisation
When entering into a securitisation transaction, the Bank analyses the transaction and checks whether, in light of the provisions of
IFRS 9, the contractual terms of the securitisation meet the requirements for derecognising the securitised assets from the Bank’s
statement of financial position. If the requirements are met, the assets are derecognised from the Bank’s statement of financial
position; otherwise, the securitisation portfolio remains recognised on the Bank’s books.
The securitisation transaction is described in Note 44 Securitisation.
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Repo and sell buy back transactions
Securities sold under repo and sell buy back transactions are not derecognised from the statement of financial position. Liabilities
to counterparties are recognised as financial liabilities under “Liabilities arising from securities sold under repo and sell buy back
transactions”. Securities purchased under reverse repo and buy sell back transactions are recognised under “Receivables arising
from securities purchased under reverse repo and buy sell back transactions”. The difference between the sale and repurchase
price is treated as interest and calculated using the effective interest method over the agreement term.
Recognition and derecognition of financial assets and liabilities from the statement of financial position
The Bank recognises a financial asset or liability in the statement of financial position when it becomes a party to the contract of
such an instrument. Standardised purchase and sale transactions of financial assets are recognised at the date of the transaction,
which is the date when the Bank makes the commitment to purchase or sell a given financial asset. Standardised transactions for
the purchase or sale of financial assets are transactions whose contractual terms require the delivery of an asset in the period
resulting from the applicable regulations or conventions adopted on a given market. Standardised purchase or sale transactions
refer in particular to FX spot transactions, the spot leg in FX swap transactions, and securities purchase and sale transactions,
where, normally, two business days pass between the transaction date and the settlement date, except for repo transactions.
The Bank derecognises a financial asset when:
● contractual rights to cash flows from a financial asset expire;
● the Bank transfers contractual rights to receive cash flows from a financial asset.
Transfer takes place:
● in a transaction in which the Bank transfers substantially all risk and all benefits associated with the financial asset, or:
● when the Bank retains contractual rights to receive cash flows from a financial asset, but assumes a contractual obligation to
transfer cash flows from a financial asset to the entity outside the Bank.
2.17. Intangible assets
Intangible assets acquired in a separate transaction are initially measured at acquisition or development cost.
The Bank determines whether the useful life of intangible assets is defined or indefinite. Intangible assets with defined useful life
are amortised over their useful life and tested for impairment each time when an impairment trigger occurs, at least once a year.
The period and method of amortisation for intangible assets with defined useful life are verified at the end of each financial year.
Changes in the expected useful life or the manner of consuming economic benefits arising from a given asset are recognised
through a change in the amortisation period or method, respectively, and treated as changes in estimates. Amortisation charges
on intangible assets with a defined useful life are recognised in the statement of profit or loss under “Amortisation”.
An intangible asset created as a result of development work (or completion of the development stage of an internally conducted
project) is recognised if and only if the Bank can prove:
1) the possibility of completing the intangible asset so that it is suitable for use or sale from a technical point of view;
2) the intention to complete the intangible asset and to use or sell it;
3) the ability to use or sell the intangible asset;
4) the method of how the intangible asset will generate probable future economic benefits; among others, the Bank can prove
the existence of a market for the given products generated by the intangible asset or for the intangible asset itself or, if the
intangible asset is to be used by the Bank, the utility of the intangible asset;
5) the availability of adequate technical, financial and other resources to complete the development and use or sell the intangible
asset;
6) the ability to reliably determine the expenditures incurred during the development work attributable to the intangible asset.
Intangible assets with indefinite useful life and those not used are annually tested for impairment individually or on the level of cash
generating unit.
Standard intangible assets (with defined useful life and those that are used) are subject to annual impairment tests.
Purchased software licenses are capitalised in the amount of costs incurred for the purchase of a given software and its adaptation
for use. Capitalised costs are amortised over an estimated useful life of the software. Expenses related to the maintenance of
computer programs are charged to expense in the period to which they relate.
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Amortisation of intangible assets is calculated using the straight-line method in order to spread out the initial asset value or its
amount revalued over the useful life, different for each intangible asset group:
• licenses 12.5 – 50.0%
• copyrights 20.0 – 50.0%
The useful lives of intangible assets are verified annually at the minimum, and adjusted if necessary.
Amortised intangible assets are tested for impairment in each case when events or circumstances indicate that their balance sheet
amount may be irrecoverable. In such cases, the balance sheet amount is immediately reduced to the recoverable amount if the
former exceeds the estimated level of the latter. The recoverable amount is equal to the fair value less the sell costs or the value
in use, whichever is higher.
Intangible assets is presented in Note 27 Intangible assets.
2.18. Property, plant and equipment
Property, plant and equipment are recognised at the acquisition price or development costs less depreciation charges and
impairment allowance. The initial amount of fixed assets includes their acquisition price increased by all costs directly related to
their purchase and adaptation for use. Costs incurred after the date the fixed asset is transferred for utilisation, such as costs of
maintenance and repair, are charged to profit or loss when incurred.
Upon acquisition, property, plant and equipment items are divided into components of material value to which separate useful life
may be assigned. Costs of overhauls are also a component.
Land is not depreciated. Depreciation of other fixed assets is calculated using the straight-line method in order to spread out the
initial asset value less residual value over the useful life, different for each asset group:
• buildings and leasehold improvements 2.5 – 20.0%
• machines and equipment 10.0 – 20.0%
• computer sets 20.0%
The residual value and useful lives of property, plant and equipment are verified annually at the minimum, and adjusted if
necessary.
Depreciated property, plant and equipment are tested for impairment at least annually and in each case when events or
circumstances indicate that their balance sheet amount may be irrecoverable. In such cases, the balance sheet amount is
immediately reduced to the recoverable amount if the former exceeds the estimated level of the latter. The recoverable amount is
equal to the fair value less costs to sell or the value in use, whichever is higher.
If the recoverable amount is lower than the current balance sheet amount of an asset, an impairment allowance is charged to the
statement of profit or loss.
Gain or loss from disposal of property, plant and equipment is determined by comparison of sales proceeds with their balance
sheet amount and recognised in the statement of profit or loss in other operating income or expenses.
Property, plant and equipment is presented in Note 28 Property, plant and equipment.
2.19. Hedge accounting
The Bank selected the accounting policy in the area of hedge accounting and decided to continue applying the hedge accounting
principles in accordance with IAS 39 “Financial Instruments: Recognition and Measurement” until the end of works of the
International Reporting Standards Board on the guidelines for macro hedge accounting (macro hedging).
Hedge accounting recognises the compensation effects of changes in the fair value measurement of hedging and hedged items
affecting the statement of profit or loss. Pursuant to the adopted hedge accounting principles, the Bank designates certain
derivatives as hedges of fair value and future cash flows of certain assets, provided the criteria determined in IAS 39 are met.
Hedge accounting is used to account for hedging relationships if all of the following conditions are met:
● at the inception of the hedge there is a formal designation and documentation of the hedging relationship and the Bank’s risk
management objective and strategy for undertaking the hedge. The documentation includes identification of the hedging
instrument, the hedged item, the nature of the risk being hedged, and how the Bank will assess the hedging instrument’s
effectiveness in offsetting the exposure to changes in the hedged item’s fair value or cash flows attributable to the hedged
risk;
● the hedge is expected to be highly effective in offsetting changes in fair value or cash flows attributable to the hedged risk,
consistently with the originally documented risk management strategy for that particular hedging relationship;
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● for cash flow hedges, a forecast transaction that will be hedged must be highly probable and must present an exposure to
variations in cash flows that could ultimately affect profit or loss;
● the effectiveness of the hedge can be reliably measured, i.e. the fair value or cash flows of the hedged item that are attributable
to the hedged risk and the fair value of the hedging instrument can be reliably measured;
● the hedge is assessed on an ongoing basis and determined actually to have been highly effective throughout the financial
reporting periods for which the hedge was designated.
Fair value hedge
Changes in the fair value measurement of financial instruments designated as hedged items are charged to the statement of profit
or loss in the portion arising from the risk subject to hedge. The remaining portion of the change in the balance sheet amount is
booked in accordance with general principles applicable to the particular class of financial instruments.
Change in the fair value measurement of financial instruments designated as hedged items is presented in the statement of
financial position as Differences from hedge accounting in assets or liabilities.
Changes in the fair value measurement of derivatives designated as hedging instruments under hedge accounting are entirely
recognised in the statement of profit or loss under the same item as results of changes in the value of the hedged items, i.e. in the
Result on hedge accounting.
Cash flow hedge
The effective part of changes in the fair value of derivative instruments designated and qualified as cash flow hedges is recognised
in other comprehensive income. The profit or loss relating to the ineffective part is presented in the statement of profit or loss for
the current period.
Amounts recognised in other comprehensive income are included in revenues or costs of the same period in which the hedged
item will affect the statement of profit or loss.
If the hedging instrument expired or was sold, or when the hedge no longer meets the hedge accounting criteria, any accumulated
profits or losses recognised at such time in other comprehensive income remain in other comprehensive income until the forecast
transaction is recognised in the statement of profit or loss. If the forecasted transaction is no longer considered probable, total
gains and losses recognised in other comprehensive income are immediately transferred to the statement of profit or loss.
Hedge accounting is presented in Note 20 Hedge accounting.
2.20. Provisions
Provisions are created when the Bank is subject to an obligation (legal or constructive) resulting from past events and it is probable
that the fulfilment of such obligation will create a liability and where a reliable estimate of the amount of that liability can be made.
If the Bank expects reimbursement of the expenditure covered by the provision (for example, through insurance contracts), the
reimbursement is recognised as a separate asset, but only when it is virtually certain that reimbursement will be received. The
costs relating to the provision are recognised in the statement of profit or loss less any reimbursement amount. If the effect of time
value of money is material, the provision is determined by discounting projected future cash flows to the present value with a gross
discount rate that reflects current market assessment of time value of money and a possible risk pertaining to a liability. An increase
in provisions over time is recognised as interest expense.
A provision for restructuring costs is recognised when general provision recognition criteria are met, as well as detailed ones
regarding the occurrence of an obligation to recognise a provision for restructuring costs determined in IAS 37. In particular, the
constructive obligation to perform a restructuring procedure occurs only when the Bank has a detailed, formal restructuring plan
and has raised justified expectations of parties involved in the plan that the restructuring would be performed in the form of initiating
its implementation or announcing its key elements to these parties.
A detailed restructuring plan determines at least the operations involved or their part, the key locations to be included, the place of
employment, positions and approximate number of employees to be compensated in exchange for termination of their employment,
the amount of outlays to be incurred and the plan implementation deadline.
A restructuring provision includes only direct outlays arising from the restructuring, which:
● are an indispensable effect of the restructuring procedure, and
● at the same time are not related to current operations of the entity.
The restructuring provision does not cover costs such as:
● training of remaining employees or reassignment of employees;
● marketing, or
● investment in new distribution systems and networks.
Restructuring provision does not include future operating expenses.
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The Bank creates provisions for legal proceedings when it acts as a defendant in these proceedings and the plaintiff’s claim is
monetary in nature (e.g., claims for payment/compensation), as well as for administrative proceedings in which the Bank is a
participant, which may result in the imposition of a fine on the Bank. Provisions are made for proceedings for which there is a
probability (risk) of an unfavourable outcome for the Bank.
Provisions are presented in Note 36 Provisions.
2.21. Leases
Bank as a lessee
On the commencement date of the lease, the Bank recognises the lease liability (liability to make lease payments) and the asset
that constitutes the right to use the subject of the lease for the duration of the lease contract (right to use an asset presented in
position property, plant and equipment).
In determining the lease term, the Bank considers all relevant facts and events creating economic incentives to exercise the option
to renew or not to exercise an option to terminate. The Bank reassesses the length of the lease term in case of a significant event
or a significant change in circumstances that affects the assessment made previously.
For contracts with indefinite duration relating to the Bank’s branch offices, the Bank has adopted a lease term consistent with the
period of depreciation of the unamortised investments made in these properties at the date of implementation of the standard, or
in the absence of such investments, a 3-year period, taking into account the significant costs associated with changing the location
of the branches during their operation.
The Bank applies the exemptions provided for in IFRS 16 and does not recognise the asset components due to the right of use in
the case of short-term leases and leases of low-value assets. Short-term leases are defined as leases with a period of no longer
than 12 months as at the commencement date (including periods for which the lease can be extended, if it can be assumed with
reasonable assurance that the lessee will exercise that right) and do not include a call option. Low-value assets are those which
have a value of no more than EUR 5,000 when new.
On the commencement date, the lessee measures the lease liability based on the current value of lease payments remaining to
be paid as at that date. Lease payments are discounted using the interest rate of the lease, if such a rate can be easily determined.
Otherwise, the lessee applies the marginal interest rate of the lessee. The lessee’s marginal interest rate is the interest rate that
the lessee would have to pay to borrow the funds necessary to purchase a right-of-use asset of similar value for a similar term and
with similar collateral in a similar economic environment. The Bank determines the marginal interest rate for all contract types on
the basis of the average funding rate in the currency concerned.
The following elements are included in the measurement of lease liabilities:
● fixed lease payments, less any lease incentives receivable,
● variable lease payments that depend on an index or a rate,
● amounts expected to be payable by the lessee under residual value guarantees,
● the exercise price of a call option if the lessee is reasonably certain to exercise that option,
● payments of penalties for terminating the lease, if the lease term reflects the lessee exercising an option to terminate the
lease.
Variable fees, which do not depend on an index or rate and do not have a certain minimum level, are not included in the value of
the lease liability. These fees are recognised in the statement of profit or loss in the period when the event that makes them due
and payable occurred.
On the commencement date, the lessee measures an asset due to the right to use at its cost. The cost of an asset due to the right
of use should include:
● the initial value of the lease liability,
● lease payments made at the time or before the conclusion of the contract less any lease incentives received,
● all initial costs incurred by the lessee, and
● estimated costs of dismantling and removing the underlying asset that must be incurred by the Bank in connection with the
asset included in the agreement in order to restore the place in which the asset is located or the asset itself to the conditions
required under the lease contract.
After the initial recognition, the right of use is reduced by depreciation and total impairment losses and adjusted in connection with
the revaluation of the lease liability due to changes in the lease which do not require the recognition of a separate lease component.
Right of use assets are amortised on a straight-line basis over the shorter of two periods: the lease period or the useful life of the
underlying asset, unless the Bank has sufficient certainty that it will obtain ownership before the end of the lease period - then the
right to use is depreciated from the day of commencement until the end of the asset’s useful life.
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Bank as a lessor
Lease contracts under which substantially all of the risks and rewards of ownership of the assets are transferred to the lessee are
classified as finance lease agreements. The value of receivables in the amount equal to the net investment in the lease is
recognised in the statement of financial position. Income on finance lease contracts is recognised in a manner reflecting the
constant periodic rate of return on the net investment in the lease made by the Bank under finance lease.
The Bank does not offer operating lease products, i.e. such products in which all risks and rewards incidental to ownership of the
assets are not transferred to the lessee.
Leases is presented in Note 29 Leases.
2.22. Financial guarantees granted
On initial recognition, a granted financial guarantee contract is measured at fair value.
Granted financial guarantees after initial recognition are measured at the higher value of:
● the amount of the impairment loss determined in accordance with the principles applicable to expected credit losses for assets
measured at amortised cost in accordance with IFRS 9,
● the amount initially recognised less the cumulative income recognised in accordance with the principles of IFRS 15.
For loan commitments and granted financial guarantee contracts, the date on which the Bank becomes a party to the irrevocable
commitment is considered as the date of initial recognition for the purpose of applying the impairment requirements.
Financial guarantees granted is presented in Note 40 Contingent liabilities.
2.23. Employee benefits
The Bank creates a provision for future liabilities due to retirement, disability and post-mortem benefits, unused annual holiday,
restructuring of employment. and incentive and retention programs. Provisions for retirement, disability and post-mortem benefits
are created using the actuarial method, as described in Note 3e and 11 hereof.
Employees of the Bank are entitled to the following benefits:
Retirement, disability and post-mortem benefits
Retirement benefits classified as post-employment defined benefit plans are available upon retirement for pensioners or disability
pensioners. The term of employment includes all previously completed periods of employment based on an employment contract.
Liabilities due to unused annual holiday
Provisions for unused holiday leave are calculated as the product of the daily basic salary and the number of outstanding leave
days as at the end of the reporting period, including surcharges for Social Security Institution (ZUS) benefits. Provisions for the
unused holiday leave are presented in the separate financial statements under “Other liabilities”.
Benefits arising from the variable remuneration program
On 9 December 2021, the Supervisory Board of BNP Paribas Bank Polska S.A. approved an amended Remuneration Policy for
persons with a material impact on the risk profile of BNP Paribas Bank Polska S.A. (hereinafter: the Policy). The changes were
related, among others, to the need to adjust the Policy to the provisions of the Regulation of the Minister of Finance, Funds and
Regional Policy of 8 June 2021 on the risk management system and internal control system and remuneration policy in banks.
Performance evaluation of individuals covered by the Policy underlies the calculation of the variable remuneration.
Under the current Policy, the variable remuneration is divided into:
● a non-deferred and deferred part and a part granted in the form of a financial instrument, which is the Bank’s shares (settled
in accordance with IFRS 2),
● a remaining deferred part granted in cash (settled in accordance with IAS 19 “Employee benefits”).
The right to variable remuneration in the form of Bank shares is granted by issuing subscription warrants in a number corresponding
to the number of shares granted: one warrant entitles to acquire one share. Payment of the variable remuneration expressed in
the form of Bank shares, i.e. acquisition of Bank shares through exercise of rights from subscription warrants, takes place after the
expiry of the deferral period.
The deferral period is at least 5 years for Senior Management and a minimum of 4 years and a maximum of 5 years for staff other
than Senior Management. A maximum deferral period of 5 years is applied when Variable Remuneration is assigned in an amount
exceeding a particularly high amount. The deferred part of the variable remuneration is divided into equal parts according to the
number of years of the deferral period.
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The cash payments under the programme are recognised in line with the projected unit credit method and settled over the vesting
period (i.e. both in the evaluation period understood as the year in service to which the benefit pertains and in the period of deferring
relevant portions of the benefit). The benefit value is recognised as a liability to employees in correspondence with the statement
of profit or loss.
Liabilities due to restructuring of employment
In connection with the process of collective redundancies for 2024-2026 at BNP Paribas Bank Polska S.A. under an agreement
signed in 2023, severance payments were made to employees made redundant at the employer’s initiative and to employees
covered by voluntary departure programmes.
Liabilities due to incentive and retention programs
The programmes have been completed by the reporting date, except for the deferred parts concerning individuals with significant
influence on the Bank’s risk profile, in accordance with the Bank’s policy in this respect.
2.24. Capital
Share capital
Registered share capital is disclosed at its nominal value, in accordance with the Articles of Association and the entry in the court
register.
Own shares
If the Bank purchases its own shares, the amount paid reduces equity as treasury shares until their cancellation. Should these
shares be sold or re-allocated, the payment received is recognised in equity.
Supplementary capital from the sale of shares above their par value
The supplementary capital is created from the premium obtained from the issue of shares, reduced by the direct costs incurred
with the issue.
The costs directly related to the issue of new shares, after deduction of income tax, if any, reduce the proceeds from the issue
included in the equity.
Other capital
Other capital: supplementary capital, reserve capital and general risk funds are created from profit allocations and are designated
for purposes specified in the Articles of Association or other legal regulations.
Other capital items
Other capital items are created as a result of:
● valuation of financial assets measured at fair value through other comprehensive income,
● actuarial profits and losses related to post-employment benefits,
● valuation of derivatives as part of cash flow hedge accounting with reference to the effective part of the hedge.
Capital is presented in Separate statement of financial position in part Equity.
2.25. Issuance of AT1 capital bonds
In accordance with the provisions of IAS 32, the AT1 capital bonds were classified as an element of the Bank’s equity. On 31
December 2024, the Polish Financial Supervision Authority approved the classification of the AT1 capital bonds to the Bank’s own
funds as Additional Tier 1 instruments.
A financial instrument is classified as an equity component in accordance with paragraph 16 of IAS 32 if the instrument does not
include a contractual obligation to issue cash or other financial asset to another entity or to exchange financial assets or financial
liabilities with another entity on potentially unfavourable terms for the issuer and if the instrument will be or may be settled in the
issuer's own equity instruments.
Bonds classified as an equity instrument are recognised at fair value at the time of issuance and are not revalued thereafter.
Interest at the time of payment is recognised in the reserve capital.
Issuance of AT1 capital bonds is presented in Separate statement of financial position in part Equity.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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2.26. Custody operations
BNP Paribas Bank Polska S.A. performs custody operations including maintaining securities accounts of customers.
Assets managed under the custody services are not included in the present financial statements as they do not meet the definition
of the Bank’s assets.
Custody operations has been described in more detail in Note 45 Custody operations.
2.27. Cash and cash equivalents
For the purpose of the statement of cash flows, cash and cash equivalents include items that mature within three months from
their acquisition date, including cash in hand and non-restricted cash at the Central Bank (current account), statutory reserve
account, and receivables from other banks (including nostro accounts).
Cash and cash equivalents are presented in Note 50 Cash and cash equivalents.
3. ESTIMATES AND JUDGEMENTS
The Bank makes judgements, estimates and assumptions that affect the value of assets and liabilities reported in the subsequent
period. Judgements, estimates and assumptions, which are reviewed on an ongoing basis, are made based on prior experience
and considering other factors, including expectations as to future events, which appear reasonable in specific circumstances.
a. Impairment of financial assets
The assessment of impairment of financial assets in accordance with IFRS 9 requires estimates and assumptions, especially
estimates of the value and timing of future cash flows, the value of collateral established, or the assessment of a significant increase
in credit risk.
The assessment of impairment in accordance with IFRS 9 covers financial assets measured at amortised cost and financial assets
measured at fair value through other comprehensive income, as well as contingent liabilities. The recognition of expected credit
losses depends on the change in the level of credit risk recorded since the moment of initial recognition of the financial asset.
Financial assets are subject to the assessment as to whether there are any events of default.
The requirements of IFRS 9 relating to impairment are based on the expected credit loss model.
Financial instruments subject to the assessment of impairment are classified into one of three stages based on the assessment of
changes in credit quality observed since initial recognition:
● Stage 1: An allowance due to expected credit losses in 12-month horizon
If the credit risk of a financial instrument did not increase significantly from the date of the initial recognition, and the event of default
did not occur from the moment of granting the financial instrument, the Bank recognises an allowance for the expected credit loss
within the next 12-month horizon.
● Stage 2: An allowance due to expected credit losses for the entire lifetime – no event of default identified
In the case of financial instruments whose credit risk has increased significantly since the moment of their initial recognition, but
no event of default occurred, an impairment allowance is created for the entire remaining financing period, considering the
probability of the occurrence of the event of default.
● Stage 3: An allowance due to expected credit losses for the entire lifetime – event of default
In the case of financial instruments for which an event of default occurred, an allowance for the expected credit loss is created for
the entire remaining financing period.
Criteria for Stage classification
In order to assess whether there has been a significant increase in credit risk since the initial recognition of a financial instrument
(Stage 2), the Bank compares the risk of default during the expected period of financing granted as at the balance sheet date and
the date of initial recognition.
The assessment consists in verifying whether the ratio of the cumulative PD as at the report date determined for the period from
the report date to the maturity date and the cumulative PD as at the initial recognition date determined for the period from the
report date to the maturity date exceeds the relative threshold for the change in the PD lifetime parameter. Exceeding the threshold
results in classification into Stage 2. PD lifetime weighted by the probability of occurrence of individual macroeconomic scenarios
is used for comparison.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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The threshold amount is set at the level of homogeneous portfolios based on an analysis of loss levels for historical data. The
analysis is designed to ensure high discriminatory power of the introduced allocation and its results are subject to verification for
intuitiveness. The thresholds adopted at the Bank range from 1.8 to 2.7 times PD lifetime growth relative to initial recognition,
depending on the segment.
An important element of the allowance estimation process, affecting both the Stage classification and the parameters used in the
allowance estimation process, is the internal credit risk rating system. The rating reflects an assessment of asset quality and key
related risks, including an assessment of refinancing risk.
Refinancing risk is assessed periodically by the Bank, both in the process of granting the financing and as part of cyclical monitoring
performed throughout the financing period.
In the commercial real estate segment, among others, the quality of the asset is examined, including: attractiveness of the location,
age of the facility, occupancy level, terms and duration of leases, value of the property, LTV (Loan to Value) and DSCR (Debt
Service Coverage Ratio).
In addition, in order to assess a significant increase in credit risk, the Bank uses e.g.: information on delay in repayments (over 30
days of delay) and information from internal credit risk monitoring systems, such as warning letters and information about
restructuring.
For exposures classified as Stage 2, if in subsequent periods the credit quality of the financial instrument improves and previous
conclusions regarding a significant increase in credit risk since initial recognition are reversed, the exposure is reclassified from
Stage 2 to Stage 1 and the allowance for expected credit losses for these financial instruments is calculated over a 12-month
horizon.
For the purpose of identifying exposures eligible for Stage 3, the Bank uses a single definition of defaulted exposures and a
definition of impaired exposures, and classification is based on the default triggers.
The principal event of default is a delay in repayment of more than 90 days (or more than 30 days for exposures with granted
facilities) of a material amount of a past due credit obligation. In addition, other indications are taken into account, including in
particular:
● restructuring,
● granting a facility where the exposure has a facility or forborne status,
● granting a facility without significant economic loss where at least one of the following conditions is met:
o a large balloon payment towards the end of the repayment schedule;
o irregular repayment schedule, with significantly lower payments at the beginning of the repayment schedule;
o significant grace period at the beginning of the repayment schedule;
o exposures to a debtor that are subject to distress restructuring on more than one occasion,
● suspicion of fraud (including economic crime or any other criminal offence related to the credit exposure),
● information has been received about the submission of an application for restructuring proceedings within the meaning of the
Act on Restructuring,
● filing an application for commencing enforcement proceedings by the Bank or becoming aware of the fact that enforcement
proceedings against the debtor are being conducted in the amount which, in the opinion of the Bank, may result in the loss of
creditworthiness,
● becoming aware of the fact of filing of an application for declaring the debtor bankrupt (liquidation bankruptcy, consumer
bankruptcy), putting the debtor into liquidation, dissolution or cancellation of the company, appointment of an administrator,
appointment of a receiver over the debtor’s activity,
● filing an application for bankruptcy proceedings, a declaration of bankruptcy or becoming aware of the dismissal of the
bankruptcy application due to the fact that the debtor’s assets are insufficient or sufficient only to meet the costs of the
bankruptcy proceedings,
● termination of the credit agreement,
● submission of an application to initiate enforcement proceedings against the customer,
● granting a public moratorium under Article 31fa of the Act of 2 March 2020 on special solutions related to the prevention,
contravention and control of Covid-19, other infectious diseases and emergencies caused by them,
● financial difficulties identified during the customer monitoring/review process or on the basis of information obtained from the
customer in the course of other activities,
● significant deterioration in customer rating.
In determining the materiality level of a past due credit obligation, the Bank takes into account the thresholds set in the Regulation
of the Minister of Finance, Investment and Development dated 3 October 2019 on the materiality level of a past due credit
obligation.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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A past due credit obligation is considered material when both materiality thresholds are exceeded together:
1) the amount of past due liabilities exceeds PLN 400 for retail exposures or PLN 2,000 for non-retail exposures, and
2) the share of past due liabilities in the exposure is greater than 1%.
Accordingly, the calculation of the number of overdue days for the purpose of determining a default event starts once both of the
aforementioned thresholds are exceeded.
While reclassifying the exposure from Stage 3 to Stage 2 or Stage 1, the Bank considers a grace period, where a credit exposure
with recognised objective trigger of impairment may only be reclassified into Stage 2 or Stage 1 if the customer has been servicing
the receivable on time for a specified number of months. The required grace period differs depending on the customer type.
The length of the grace period is determined by the Bank on the basis of historical observations which allow for determining the
period after which the probability of default decreases to the level comparable to that of other exposures classified to the portfolio
with no indications of impairment.
With regard to the criteria for assignment to Stages, the Bank implemented an indication based on the assessment of the relative
change in the PD lifetime parameter.
The Bank continuously monitors the sensitivity of customer groups/segments to risk factors in the economic and geopolitical
environment.
The detailed assumptions of the identification of customers sensitive to selected risk factors for institutional customers are
presented in Note 55.2 Credit risk.
As at 31 December 2025, exposures to institutional customers considered sensitive was PLN 819,644 thousand. They were
classified as Stage 2 customers affected by a significant increase in credit risk. The total allowance for these customers was PLN
121,471 thousand. As at 31 December 2024, the sensitive customers represented PLN 286,246 thousand and the allowance for
these customers was PLN 7,808 thousand.
Institutional customers considered sensitive as at 31 December 2025 accounted for PLN 819,644 thousand and are classified as
Stage 2 customers affected by a significant increase in credit risk. The total allowance for these customers was PLN 121,471
thousand. As at 31 December 2024, the sensitive customers represented PLN 286,246 thousand and the allowance for these
customers was PLN 7,808 thousand.
With regard to the remaining segments, in the process of assigning Stages, the Bank took into account the increased risk
associated with customers with the greatest exposure to turbulence in the economic environment by transferring these exposures
to Stage 2. The basis for identifying sensitive customers was:
● for the segment of other retail customers, available indicators that are indicative of the level of debt burden and the timeliness
of servicing obligations with other institutions,
● for the portfolio of micro-entrepreneurs, the level of the customer’s rating or, for a selected group of customers, borrowing to
a degree that threatened the proper servicing of the credit/loan.
These customers represented exposures at PLN 305,103 thousand as at 31 December 2025 and PLN 628,057 thousand as at 31
December 2024. Following a review, the Bank revised the assessment of the risk level of sensitive customers using credit holidays
and consequently ceased to recognise the group as sensitive customers (the details are presented in the table on the Post Model
Adjustments).
Description of the methods used to determine the allowance for expected credit losses
The individual valuation is performed by the Bank for individually significant financial assets for which an event of default was
identified. It consists in the individual determination of the allowance for expected credit losses. During the individual valuation, the
Bank determines expected future cash flows and impairment allowance is calculated as the difference between the present value
(balance sheet amount) of a financial asset which is individually significant and the value of future cash flows generated by that
asset, discounted using the effective interest rate. Cash flows from collateral are taken into account for purposes of estimating
future cash flows.
The following assets are measured collectively:
● classified as individually insignificant;
● classified as individually significant for which no event of default was identified.
The amount of collective impairment allowances is determined with the application of statistical methods for defined exposure
portfolios which are homogenous from the perspective of credit risk. Homogeneous exposure portfolios are defined based on,
among others, customer segment and type of credit products.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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The criteria applied by the Bank to define homogeneous portfolios are aimed at grouping exposures so that the credit risk profile
is reflected as accurately as practicable and, consequently, so as to estimate the level of allowances for the expected credit losses
as objectively and adequately as possible. The amount of the allowance for expected credit losses in the collective method is
determined under four macroeconomic scenarios. The final value of the allowance is determined as the average of these four
calculations weighted by the probability of occurrence of a given scenario.
The weight of the base scenario is 50%, the weights of the negative and the severe scenarios are estimated based on the ratio of
the current projected loss to the long-term average for the segment, and the weight of the positive scenario is derived from the
weights of the negative and the severe scenarios. As at 31 December 2025, the weight of the severe scenario ranged from 0% to
5.59%, depending on the portfolio, and the weight of the pessimistic scenario ranged from 0% to 22.36%.
In the process of calculating the amount of allowances, the following parameters are used:
1) probability of default (PD)
The amount of the parameter for individual exposures is estimated using a model based on Markov chains. For its estimation,
historical matrices of migration of exposures between risk classes are used.
Risk classes are determined based on internal ratings. Migrations are determined within homogeneous portfolios defined by
customer segment and product type.
The parameter values resulting from the above model are through-the-cycle. In order to ensure the point-in-time nature required
by IFRS 9, they are subsequently adjusted based on current forecasts of the macroeconomic environment. The adjustment made
is based on econometric models built for individual segments based on time series. If it is not possible to build a model for a
particular segment, a simplification based on the Box-Cox transformation is applied.
2) loss given default (LGD)
The amount of the parameter for individual exposures is determined based on the probability of occurrence of individual recovery
paths (return to regular repayments, full repayment of the obligation, commencement of hard debt enforcement) and the expected
levels of loss if a given path occurs. The probabilities of occurrence of individual paths are determined based on a model using
Markov chains or scoring models and estimations based on historical data.
Loss levels are determined based on historically observed recoveries. They take into account recoveries linked to collateral
allocated to a given exposure, repayments not linked to collateral, and recoveries expected from the sale of receivables.
Assignment of specific components is based on customer segment, product type, exposure characteristics, current number of days
in default, contract status, and number of months since the commencement of hard debt enforcement. The parameters for recovery
from the collateral are based on the customer segment, the type of collateral, and the number of months since the commencement
of hard debt enforcement.
The parameter values resulting from the above model are through-the-cycle. In order to ensure the point-in-time nature required
by IFRS 9, they are adjusted based on current forecasts of the macroeconomic environment. The adjustment made is based on
econometric models built for individual segments, based on time series. If it is not possible to build a model for a particular segment,
a simplification based on the Box-Cox transformation is applied; this does not apply to portfolios where expert values are used for
parameter estimation due to the lack of sufficient historical observations.
3) credit conversion factor of granted off-balance sheet liabilities to on-balance sheet receivables (CCF)
The amount of the parameter is determined based on average observed historical values. The parameter is estimated within
homogeneous portfolios defined by customer segment and product type. For segments where there are not enough observations
to determine the parameter, expert values are adopted.
For CCF, the Bank demonstrated its lack of dependence on macroeconomic factors based on historical data.
4) prepayment factor (PPF)
The amount of the parameter is determined based on the prepayment curve assigning dependence on the months of existence of
the credit exposure. The prepayment curve is estimated based on historical data by customer segment and product type. When
calculating the expected credit loss, prepayment factor adjusts the balance sheet exposure resulting from the loan repayment
schedule.
For PPF, the Bank demonstrated its lack of dependence on macroeconomic factors based on historical data.
5) expected lifetime of the loan (BRL – behavioural lifetime).
For exposures for which there is no contractual lifetime, the behavioural lifetime of the loan is estimated. This value is assigned by
customer segment and credit product type. The estimation of the behavioural lifetime of a loan is based on building a profile of
historically observed lifetime of exposures of a given type and fitting a logistic regression function to it. This function is then used
to estimate the final value in a given segment.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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In 2025, the Bank made the following significant changes to the IFRS 9 model:
● Change in EAD amortisation granularity in the ECL calculation formula. Following the modification, ECL for Stage 1 and Stage
2 portfolios is calculated on a quarterly rather than annual basis and then aggregated to the appropriate horizon, taking into
account the discounting effect. The change resulted in a reduction of impairment charges by PLN 40,620 thousand.
● Update of the PD model for a portfolio of businesses carrying full books of account, resulting in release of PLN 13,176 thousand
provisions. The change calibrated the model estimating the impact of macroeconomic factors on credit loss by incorporating
the latest observations. The adjustment ensured a better modelling of dependence and eliminated the unrealised conservatism
of previous projections.
● Implementation of a new LGD model for a portfolio of mortgage-backed loans for retail customers, resulting in an addition of
PLN 32,220 thousand provisions. The change implemented a new method of constructing statistical models and a dedicated
approach to atypical events of default observed during the Covid-19 pandemic. The new solution ensures a better modelling
of losses observed in the future.
The Bank verified its Post Model Adjustments (PMA) in 2025. As a result of the review, additional allowances for sensitive
customers using credit holidays were released. In particular, this was due to the stable quality of the portfolio after the credit holiday
scheme was terminated. The adjustment on estimated and planned changes to the LGD model was reversed as the changes were
reflected directly in the LGD model.
As a result of analyses of the business loan portfolio, allowances for specific risks of selected industries were verified. The changes
resulting from the review are presented in the table blow. It should be noted that in the fourth quarter of 2025, the anticipatory
reserve for sensitive customers in the photovoltaic farm segment, created in the third quarter of 2025 (PLN 43,000 thousand), was
dissolved. The Bank reviewed the portfolio exposures in Q4 2025 and reflected the risk expectations directly in the individual
customer ratings.
Type of Post Model Adjustment
31.12.2024
Change
31.12.2025
Customers particularly sensitive to changes in the economic
environment
13,605
(4,348)
9,257
Farmers whose crops were affected by adverse weather events
51,258
(1,800)
49,458
Adjustment of parameters for sensitive customers using credit
holidays
19,168
(19,168)
-
Adjustment for sensitive customers in commercial real estate
segment
31,500
(11,000)
20,500
Adjustment for customers operating in sectors exposed to the
German economy
72,800
(8,663)
64,137
Adjustment for LGD model changes estimated and planned for
implementation
43,700
(43,700)
-
Total
232,031
(88,679)
143,352
In 2025, in the alignment of allowances with expected future macroeconomic factors, the allowances were increased by PLN 5,488
thousand due to an update of the forecast macroeconomic factors included in the IFRS 9 model in Q1 2025. In subsequent
quarters, in view of significant market uncertainty, the Group decided not to include the effect of the forecast macroeconomic
factors in the Group’s results and to maintain more conservative assumptions for allowance estimations. It should also be noted
that the Bank is working on changes to the model for incorporating macroeconomic forecasts into ECL scenario weights which,
according to the Bank’s expectations, should partially offset the effects of macroeconomic projection updates that are not
recognised in the financial result.
Sensitivity of allowances
Allowances for the expected credit losses are back-tested on a regular basis. The models of risk parameters used for purposes of
estimating impairment allowances are covered by the model management process, which specifies the principles of their
development, approval and monitoring (including model back-testing). Additionally, there is a validation unit in the Bank, which is
independent of the owners and users of the models. The tasks of the unit include annual validation of risk model parameters
considered to be significant. The process of validation covers both a qualitative and quantitative approach. The process of
estimating impairment allowances is subject to periodic functional control and verified independently by the internal audit.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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In order to calculate the sensitivity of the level of allowances estimated by the collective method related to the realisation of
macroeconomic scenarios, the Bank used the method of changing the weights of the severe, pessimistic, baseline, and optimistic
scenarios in accordance with their application consistent with IFRS 9.
The impact of particular scenarios is presented in the table below:
Analysis/scenario
Change in the
amount of
allowance
31.12.2025
Percentage
change in the
amount of
allowance
31.12.2025
Change in the
amount of
allowance
31.12.2024
Percentage
change in the
amount of
allowance
31.12.2024
Pessimistic scenario – considering pessimistic
and baseline scenarios only (optimistic scenario
0%, baseline scenario 50%, pessimistic
scenario 40%, severe scenario 10%)
255,237
16%
139,208
8%
Baseline scenario – uniform distribution of
optimistic and pessimistic scenarios (optimistic
scenario 25%, baseline scenario 50%,
pessimistic scenario 15%, severe scenario 10)
95,271
6%
46,080
3%
Optimistic scenario – considering optimistic and
baseline scenarios only (optimistic scenario 50,
baseline scenario 50%, pessimistic scenario
0%, severe scenario 0%)
(80,942)
-5%
(60,388)
-3%
The sensitivity of the level of allowances results directly from the counter-cyclical nature of the calculation of weights assigned to
individual macroeconomic scenarios. Counter-cyclicality is expressed in reducing the weight for the pessimistic scenario as the
recession deepens, and in reducing the impact of the optimistic scenario in the event of an “overheating” of the economy.
In addition, the impact of the estimated change in the level of allowances due to scenarios of changes in risk parameters is
presented below.
Analysis/scenario
Change in the
amount of
allowance
31.12.2025
Percentage
change in the
amount of
allowance
31.12.2025
Change in the
amount of
allowance
31.12.2024
Percentage
change in the
amount of
allowance
31.12.2024
PD decrease by 10%
(77,932)
-5%
(78,316)
-5%
PD increase by 10%
77,932
5%
78,315
5%
LGD decrease by 10%
(159,354)
-10%
(172,548)
-10%
LGD increase by 10%
138,036
9%
149,152
9%
The table below shows the impact of a change in the present value of estimated future cash flows for exposures subject to
individual valuation.
Analysis/scenario
Change in the
amount of
allowance
31.12.2025
Percentage
change in the
amount of
allowance for
exposures
subject to
individual
valuation
31.12.2025
Change in the
amount of
allowance
31.12.2024
Percentage
change in the
amount of
allowance for
exposures
subject to
individual
valuation
31.12.2024
Decrease in present value of estimated future
cash flows for individually assessable
exposures by 10%
58,440
9%
86,136
12%
Increase in present value of estimated future
cash flows for individually assessable
exposures by 10%
(56,320)
-8%
(82,852)
-12%
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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Climate issues
When considering the need to disclose climate-related risks, the Bank takes into account the requirements for determining
materiality of financial information in paragraph 7 of IAS 1. According to these requirements, the Bank should consider both
quantitative factors and qualitative factors, as well as the interactions between the factors, when assessing whether or not the
information is material.
The Bank treats ESG risks, including climate risk, as a cross-cutting risk affecting traditional risks, including credit, liquidity and
operational risks. As part of the Bank’s risk identification and assessment framework, a separate group of risks related to
environmental, social and governance factors was defined. In the risk identification process, the significant impact of ESG factors
on credit risk was recognised among others. As a result, ESG risks were incorporated into the internal risk management framework
by including ESG risk as a subtype of credit risk in the Risk Management Strategy and Risk Appetite. In order to mitigate and
control the risk, a framework for measuring ESG risk in the Bank’s Internal Capital Assessment Process (ICAAP) has also been
developed. The capital plan for 2026-2028 was supplemented with limits for ESG risk set based on the risk measurement made.
ESG Risk Management Principles have also been developed, which include, inter alia, provisions for risk monitoring and reporting
and stress testing.
In response to the requirements of the EBA/GL/2020/06 Guidelines on loan origination and monitoring, the Bank developed ESG
assessment questionnaires, which were implemented in the lending process. The assessment is carried out for customers for
whom new financing or an increase in financing is being processed as well as in the case of customer review. The purpose of the
assessment is to identify any risks related to ESG factors affecting the financial position of the customers, as well as the impact of
the customers’ business activities on ESG factors (double materiality principle).
Environmental risks are subject to special analysis by the Bank. They may materialise through:
1) physical risks related to environmental degradation, as well as climate change, including the occurrence of:
a) long-term climate change,
b) extreme weather events,
2) transition risks resulting from the need to adapt the economy to gradual climate change, in particular to the use of low-carbon
and more environmentally sustainable solutions, including the occurrence of:
a) regulatory risk (changes in climate and environmental policies),
b) technological risks (a technology with a less damaging effect on the climate or the environment replaces a more damaging
technology, making it outdated),
c) changes in market sentiment and social norms,
3) liability risk arising from the Bank’s exposure to counterparties that could potentially be held liable for the negative impact of
their activities on environmental, social and governance factors.
The assessment of the impact of long-term climate change and extreme weather events on the activities carried out by customers
is taken into account by the Bank in the process of loan origination and monitoring in accordance with the following systematics:
Long-term climate changes:
Extreme weather events:
impact of higher temperatures
impact of heat waves
impact of temperature shocks
impact of cold waves
impact of changing wind patterns
impact of fires
impact of changing rain/snow-fall patterns and types
impacts of storms, tornadoes, etc.
impact of sea level rise
impact of droughts
impact of water stress (reduced access to water)
impact of heavy rain/snow-falls
impact of soil and coastal erosion
impact of floods
impact of soil degradation
impact of landslides
ESG risk assessment is one of the elements of a customer’s credit risk assessment. The result of the ESG risk analysis is taken
into account in the credit decision and in the review of the customer and, in situations of high risk identification, in the rating
assignment and update process. High ESG risk was identified for 14 customers as at 31 December 2025 with a total balance-
sheet exposure of PLN 31.3 million.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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The early warning indicators (EWA) include ESG indicators. One of the factors in the classification of customers as Doubtful Debts
is the identification of adverse events linked to ESG risk factors. The incorporation of ESG factors helps to identify early indicators
of potential deterioration of credit quality which may result in customer default. The rules for the classification of credit exposures
include ESG factors in the list of criteria which may suggest the debtor’s financial distress. The number of customers and the credit
exposures of customers with identified ESG EWAs, including default customers a key risk indicators which are regularly monitored
and reported to the Risk Management Committee, the Management Board and the Supervisory Board of the Bank. As at 31
December 2025, the Bank identified 6 customers with active ESG EWAs with a total balance-sheet exposure of PLN 40 million.
The Bank runs climate stress tests in order to assess the Bank’s resilience under various climate change scenarios, including
transition risk (e.g. more severe climate policy) and physical risk (greater frequency of floods and droughts). The results show
which portfolios are most exposed to loss due to economic transition or climate change. The share of climate factors in loan loss
provisions refers to the analysis of potential effect of physical risk and transition risk of climate change on asset quality and the
cost of risk in the loan book. This component is designed to make a quantitative determination, looking forward, of how climate
events (such as floods, droughts, extreme heat waves) or regulatory and economic changes related to transition to a low-carbon
economy can increase losses. Practically, this incorporates the potential impact of climate scenarios on the customers’ probability
of default and collateral value. Such measurement helps to estimate the future financial impact of climate risks on the loan book,
to make a forward-looking analysis, and to strengthen risk management and financial resilience in view of climate change risks.
The stress tests are described in detail in the Sustainability Statement included in the Management Board’s Report on the Activities
of the Paribas Bank Polska S.A. Group
The process of selecting counterparties with which the Bank enters into business relationships also makes it possible to limit
negative impacts in terms of ESG areas through, among others, the sector policies in place, watch lists and exclusions, and KYC
(know-your-customer). The established sector policies enable the Bank to control the impact of its financing and support customers
operating in sensitive sectors. The purpose of the sector policies is to encourage customers to follow best practices and respect
the social and environmental criteria set by the Bank. At the same time, the Bank has for a long time, through the policies in place
and the verification of negative information about customers’ ESG activity, introduced restrictions in its activities by avoiding
material exposures to the sectors and customers that will be most affected by climate change, e.g. through the materialisation of
physical and transition risks.
The Bank recognises that climate and environmental risks may represent a material risk to businesses and a systemic risk to the
economy, so it is taking steps to collect relevant data on these risks.
b. Classification of financial instruments
When classifying financial instruments in accordance with IFRS 9, the Bank used the assessment of business models for
maintaining financial assets and assessing whether the contractual terms related to a financial asset resulted in cash flows that
were solely payment of principal and interest on the outstanding principal.
c. Fair value of financial instruments
Fair value measurements of financial instruments classified as level 2 or 3 in the fair value hierarchy are estimated using valuation
techniques (mark-to-model) that are consistent with market practice, and are parameterised based on reliable sources of market
data obtained from Refinitiv and Bloomberg information systems, among others.
For linear and non-linear OTC derivatives, valuation methods are used based on replicating the payoffs of valued instruments with
other instruments with similar characteristics for which market quotes are available from an active market.
A Credit Valuation Adjustment (CVA) and Debit Valuation Adjustment (DVA) are also determined for this category of instruments,
which are estimated based on the projected future exposure resulting from the transaction, the Bank’s and the counterparty’s credit
ratings and the collateral submitted/accepted. In addition, the materiality of other fair value adjustments (X-Value Adjustments,
XVA) is verified.
The fair value measurement of debt instruments not traded in an active market and loans and advances is determined using a
method based on the present value of projected future cash flows or a method based on the expected recovery of a given exposure,
which take into account estimates of unobservable risk factors, i.e. the size of the credit spread, the probability of the debtor’s
default, the recovery rate.
For equity instruments not traded in an active market, fair value measurements are determined using a method based on market
multiples or a method based on the present value of projected future cash flows, which take into account estimates of unobserved
risk factors, i.e. limited liquidity of the instrument, uncertainty related to the realisation of assumed financial projections, market risk
premium associated with an investment in a particular category of financial instruments.
Information on the fair value of financial assets and labilities is presented in Note 42 Fair value of financial assets and labilities.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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d. Impairment of non-current assets
At the end of each reporting period, the Bank verifies whether there is any objective impairment trigger concerning its non-current
assets (including investments in subsidiaries). If such triggers are identified, the Bank estimates the recoverable amount.
Recoverable amount corresponds to fair value less costs to sell or value in use of the asset or cash-generating unit, whichever is
higher. Determination of the value in use of a non-current asset requires the Bank to make assumptions as to the estimated
amounts and dates of future cash flows that may be generated by the Bank on the non-current asset. When estimating the fair
value less costs to sell, the Bank relies on available market data or valuations of independent appraisers, which generally are also
based on estimates.
e. Provisions for retirement, disability and post-mortem benefit obligations
The Bank creates provisions for retirement, disability and post-mortem severance pay (“severance”), in accordance with IAS 19.
The severance provisions are calculated for each employee separately, using the actuarial method of projected unit credit, by an
independent actuary, equal to the present value of the Bank’s future liabilities to employees based on headcount and wages and
salaries as at the date of valuation. The calculations take a number of factors into account, including macroeconomic conditions,
employee turnover, risk of death and others. The basis for calculating the provision for employees is the anticipated value of
severance pay which the Bank is to pay pursuant from the Remuneration Regulations in force at the Bank.
The anticipated severance pay is calculated as the function of:
• the expected severance base, in accordance with the provisions of the Collective Bargaining Agreement,
• the expected increase in the severance base from the moment of valuation until the payment of severance,
• the expected entitlement to an individual benefit for each employee.
The projected value is discounted actuarially at the end of each reporting period. In accordance with the requirements of IAS 19,
the financial discount rate for calculating the current value of liabilities related to employee benefits is determined on the basis of
market yields on treasury bonds whose currency and maturity date are consistent with the currency and the estimated date of the
benefit obligations.
The actuarial discount is the product of the financial discount, the probability of a person’s continued employment at the Bank until
the severance is required, and the probability of the need for a particular benefit (e.g. the probability of acquiring a disability). The
value of annual write-offs and the probability are projected with the use of models which take the following three risks into account:
• possibility of dismissal from work,
• risk of inability to work,
• risk of death.
The employee’s possibility of termination is estimated trough a probability distribution, based on the Bank’s statistical data. The
likelihood of dismissal depends on the age of the employee and is constant throughout each year of work. The risks of death and
disability are estimated based on analyses of the latest statistical data on life expectancy in Poland (for men and women) as well
as historical data published by the Central Statistical Office (GUS) and the Social Security Institution (ZUS).
Provisions resulting from actuarial valuation are updated quarterly.
Sensitivity analysis
The table below presents the impact of a 1 p.p. change in the relevant actuarial assumptions on liabilities due to retirement,
disability and post-mortem severance as at 31 December 2025 and 31 December 2024.
increase
by 1 p.p.
decrease
by 1 p.p.
31.12.2025
discount rate
(2,141)
2,486
wage growth rate
2,495
(2,187)
31.12.2024
discount rate
(2,084)
2,427
wage growth rate
2,426
(2,121)
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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Reconciliation of present value of retirement, disability and post-mortem benefit obligations
The table below presents the reconciliation of the opening balance and the closing balances of the present value of liabilities due
to retirement, disability and post-mortem benefits:
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Opening balance
24,187
20,181
current employment costs
2,107
1,961
net interest on net liability
1,205
1,043
actuarial gain or loss
(1,576)
1,698
benefits paid
(659)
(696)
Closing balance
25,264
24,187
f. Restructuring provision
Continuing the Bank’s adaptation to the changing business environment, on 13 December 2023, another agreement was signed
with the trade unions on the principles of conducting collective redundancies for 2024-2026. Accordingly, in 2023, a provision for
liabilities to employees due to restructuring was created in the amount of PLN 48,446 thousand; as at 31 December 2025, the
provision amounts to PLN 17,444 thousand (as at 31 December 2024: PLN 35,704 thousand).
g. Deferred tax assets and liabilities
The deferred income tax liability is recognised in the full amount using the balance sheet method, due to positive temporary
differences between the tax value of assets and liabilities and their balance sheet value in the financial statements. Deferred tax
assets are recognised for all negative temporary differences, as well as unused tax credits and unused tax losses carried forward
to the subsequent years, in the amount in which it is probable that taxable income will be generated that will allow the use of the
above mentioned differences, assets and losses.
Deferred income tax is determined using tax rates (and regulations) in force or at the end of the reporting period, which are
expected to be effective at the time of realisation of the related deferred income tax assets or settlement of deferred income tax
liabilities.
If the temporary differences arose as a result of the recognition of an asset or liability resulting from a transaction that is not a
business combination and which at the time of the conclusion did not affect the tax or accounting result, the deferred tax is not
recognised.
In addition, a deferred tax liability is created for positive temporary differences arising from investments in subsidiaries or associates
and investments in joint ventures except the situations when the timing of temporary differences reversal is subject to control by
the entity and when it is probable that the temporary differences will not be reversed in the foreseeable future.
Deferred tax assets are recognised in the event of negative temporary differences from investments in subsidiaries or associates
and investments in joint ventures, only to the extent that it is probable that the abovementioned temporary differences will be
reversed in the foreseeable future and taxable income allowing to offset any negative temporary differences will be generated.
The balance sheet amount of the deferred tax asset is reviewed at the end of each reporting period and is reduced accordingly,
and so far as it is no longer probable that taxable income sufficient for partial or total realisation of the deferred tax asset will be
realised. An unrecognised deferred tax asset is subject to reassessment at the end of each reporting period and is recognised up
to an amount that reflects the probability of achieving future taxable income that will allow recovery of that asset. The Bank offsets
deferred tax assets with deferred tax liabilities if and only if it has an enforceable legal title to compensate corresponding
receivables and payables due to current tax and deferred income tax is related to the same taxpayer and the same tax authority.
Income tax related to the items recognised directly in equity is recognised in equity and in the statement of comprehensive income.
The Bank maintains assets linked to provisions set up in connection with the settlement process regarding:
● Settlements regarding CHF-denominated loan agreements and the possibility of benefiting from a tax preference (waiver of
CIT collection on redeemed loans under the Decree of the Minister of Finance of 11 March 2022, as amended),
● cancelling CHF-denominated loan agreements.
For details, see Note 54 Litigation, claims and administrative proceedings.
Up to November 2025 and in 2024, current income tax and deferred tax liabilities were calculated using the 19% rate.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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At the end of the reporting period, as a result of the adoption of the change in the CIT rate to 30% in 2026, 26% in 2027 and 23%
in 2028 and subsequent years, the Bank valued deferred tax assets and provisions at the rates that, according to current forecasts,
will apply at the time of realisation of the value of the assets or settlement of the liability.
The measurement is affected by temporary differences which change over time and are the basis for the calculation of the deferred
tax asset and liability as at 31 December 2025, and by the expected settlement periods of such temporary differences.
For details, see Note 37 Deferred income tax.
Pillar Two
The Bank uses an exception from the recognition and disclosure of deferred tax asset and liability information related to income
tax under Pillar Two in accordance with an amendment of IAS 12 issued in May 2023.
Global minimum tax level
The Bank applies an exception to the recognition and disclosure of information on deferred tax assets and liabilities related to
income tax under Pillar II, in accordance with the IAS 12 update issued in May 2023.
In connection with the obligation to implement into the Polish legal order the provisions of Council Directive (EU) 2022/2523 of 14
December 2022 on ensuring the global minimum level of taxation of multinational enterprise groups and large-scale domestic
groups in the Union, the aim of which is to reduce corporate income tax competition by establishing a global minimum tax, Poland
passed the Act dated 6 November 2024 on top-up taxation of members of multinational and domestic enterprise groups
(hereinafter: the ‘Act’). The Act entered into force on 1 January 2025.
The new tax is to be levied on constituent entities of international and domestic groups operating in Poland which have an annual
revenue of EUR 750 million or more in their ultimate parent entity’s consolidated financial statements in at least two of the four
fiscal years immediately preceding the tested fiscal year.
Groups of companies subject to the global top-up tax will be required to calculate an Effective Tax Rate (ETR) on income for each
jurisdiction in which they operate. In the event this rate is lower than 15%, an obligation to pay the top-up tax will arise.
As a result, based on the available data, it was assumed that entities operating in Polish jurisdiction meet the conditions enabling
the application of temporary safe harbours, which results in the absence of the obligation to carry out full calculations of the national
countervailing tax and the global countervailing tax.
According to the Bank’s assessment, the equalisation tax regulations did not cause an additional tax burden in 2025.
h. Provision for the return of commissions due to early repayment of loans
On 11 September 2019, the CJEU issued a judgment ruling that Article 16(1) of Directive 2008/48/EC of the European Parliament
and of the Council of 23 April 2008 on consumer loan agreements and amending Council Directive 87/102/EEC should be
interpreted in such a way that the consumer’s right to reduce the total cost of a loan in the event of earlier repayment includes all
costs that have been imposed on the consumer. The CJEU pointed out that a comparative analysis of the different language
versions of Article 16(1) of the Directive does not allow to clearly determine the exact scope of the reduction of the total cost of a
loan envisaged by this provision because some language versions of this provision suggest reducing the costs related to the
remaining period of the contract, others suggest that the costs associated with this period constitute an indication for calculating
the reduction, others still only refer to interest and costs due for the remaining period of the contract.
The judgment was issued following a question referred for a preliminary ruling by the Lublin-Wschód District Court in Świdnik,
which examined three disputes between the company Lexitor, which acquired the claims of three customers, and SKOK Stefczyka,
Santander Consumer Bank, and mBank, regarding the reduction of the total cost of consumer loans due to their earlier repayment.
The Polish court had doubts about the interpretation of Article 16(1) of Directive 2008/48/EC of the European Parliament and of
the Council of 23 April 2008, and therefore asked the CJEU whether this provision concerns all costs or only those related to the
duration of the contract.
As a result of the analysis concerning the impact of the judgment on the Bank’s income, in particular on relations expired before
the judgment was issued, the Bank decided in 2019 to create provisions for a proportional refund of commissions in the event of
early repayment of loans in the amount of PLN 48,750 thousand. As at 31 December 2025, the provisions amounted to PLN 8,066
thousand (as at 31 December 2024, the provisions amounted to PLN 10,023 thousand).
The provisions were estimated based on the estimation of the total amount of provisions for early repaid loans and the expected
percentage of customers who will claim for a refund of the due part of the commissions. Assuming that the percentage of customers
is 5 p.p. higher than the assumed level, the amount of the provision will be higher by PLN 12,500 thousand.
The Bank recognises liabilities to customers due to proportional reimbursement of commissions in the event of early loan
repayment in the period from the date of the judgment of the CJEU on 11 September 2019 to 31 December 2019. As at 31
December 2025, this liability amounted to PLN 2,204 thousand (PLN 2,242 thousand as at 31 December 2024).
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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Additionally, the Bank sets up provisions to cover the partial reimbursements of loan commissions in the event of early repayment.
The estimate of the provisions is based on the difference between the value of commissions to be reimbursed to customers and
the balance of unsettled commissions as at the expected date of early loan repayment. This provision is calculated as a percentage
of commissions charged to customers, which reflects the expected average difference between the amounts of commissions to be
reimbursed to customers and the balance of outstanding commissions at the expected time of early repayment of the loan. This
percentage is calculated based on the estimated level of early repayments and the expected timing of repayment.
In the event of early loan repayment, this provision is used; for newly sold loans, a provision will be created on an ongoing basis.
As at 31 December 2025, the provision amounted to PLN 27,513 thousand (PLN 39,810 thousand as at 31 December 2024).
The total amount of provisions and liabilities related to the CJEU judgment as at 31 December 2025 was PLN 37,783 thousand
(as t 31 December 2024, the provision was PLN 52,074 thousand).
The created provision level is based on estimates and may be changed.
The above provisions are presented by the Bank in Note 36 under Provisions: Provision for litigation; the Bank presents the liability
in Note 35 under Other liabilities: Sundry creditors.
i. Impact of legal risks arising from litigation related to mortgage loans in CHF
Impact of legal risk resulting from proceedings related to CHF mortgage loans and the model used by the Bank are presented in
Note 54 Litigation, claims and administrative proceedings.
j. Provision for unauthorized transactions
Proceedings on a practice violating collective consumers interests - unauthorised transactions are described in Note 54 Litigation,
claims and administrative proceedings.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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4. NET INTEREST INCOME
Interest income
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Interest income calculated using effective interest rate
8,771,401
8,981,723
interest income on financial instruments measured at amortised cost
7,849,310
8,131,361
Amounts due from banks
512,156
423,790
Loans and advances to customers measured at amortised cost,
including:
5,999,884
6,404,285
non-bank financial entities
400,438
352,068
retail customers
2,603,555
2,724,364
corporates
2,981,033
3,311,513
including individual farmers
615,606
686,241
public sector institutions
6,735
4,366
lease receivables
8,123
11,974
Debt instruments measured at amortised cost
1,335,267
972,653
Securities purchased under repurchase agreements
2,003
330,633
interest income on instruments measured at fair value through other
comprehensive income
922,091
850,362
Debt instruments measured at fair value through other comprehensive
income
922,091
850,362
Income similar to interest on instruments measured at fair value through
profit or loss
811,766
923,714
Loans and advances to customers measured at fair value through
profit or loss
29,955
50,227
Debt instruments measured at fair value through profit or loss
5,216
7,466
Derivative instruments as part of fair value hedge accounting
737,283
854,393
Derivative instruments as part of cash flow hedge accounting
39,312
11,628
Total interest income
9,583,167
9,905,437
Interest expense
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Amounts due to banks
(399,902)
(496,001)
Liability under issued debt securities
(42,071)
-
Amounts due to customers, including:
(2,275,268)
(2,436,587)
non-bank financial entities
(155,354)
(150,495)
retail customers
(1,163,295)
(1,173,195)
corporates
(807,545)
(970,583)
including individual farmers
(7,564)
(9,560)
public sector institutions
(149,074)
(142,314)
Lease liabilities
(20,748)
(23,274)
Derivative instruments and amortisation of the hedged position as part of fair
value hedge accounting
(980,603)
(1,275,490)
Derivatives under cash flow hedge accounting
(63,816)
(36,561)
Securities sold subject to repurchase agreements
(20,338)
(5,711)
Total interest expense
(3,802,746)
(4,273,624)
Net interest income
5,780,421
5,631,813
The value of interest expense calculated using the effective interest rate in relation to financial liabilities measured at amortised
cost, amounted to PLN 2,758,327 thousand (PLN 2,961,573 thousand for the period of 12 months ended 31 December 2024).
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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Interest income includes interest on financial assets assessed individually and collectively, for which impairment was identified.
The amount of the above mentioned interest, which was recognised in the interest income for 2025, amounted to PLN 112,057
thousand, as compared to PLN 82,837 thousand for 2024.
5. NET FEE AND COMMISSION INCOME
Fee and commission income
12 months
ended 31.12.2025
12 months
ended 31.12.2024
restated
loans, advances and leases
251,909
269,543
account maintenance
223,030
232,545
cash service
30,353
31,462
cash transfers and e-banking
101,898
108,047
guarantees and documentary operations
76,384
77,320
asset management and brokerage operations
118,389
103,118
payment and credit cards
423,611
414,307
insurance mediation activity
137,856
148,945
product sale mediation and customer acquisition
22,185
23,781
other commissions
53,861
57,990
Total fee and commission income
1,439,476
1,467,058
Fee and commission expense
12 months
ended 31.12.2025
12 months
ended 31.12.2024
loans, advances and leases
(458)
(998)
account maintenance
(9,398)
(9,774)
cash service
(30,466)
(28,566)
cash transfers and e-banking
(3,369)
(2,765)
guarantee obligations and documentary operations
(4,337)
(9,120)
asset management and brokerage operations
(7,279)
(5,428)
payment and credit cards
(108,468)
(121,800)
insurance mediation activity
(19,692)
(21,487)
product sale mediation and customer acquisition
(23,742)
(23,011)
other commissions
(50,753)
(55,816)
Total fee and commission expense
(257,962)
(278,765)
Net fee and commission income
1,181,514
1,188,293
Net fee and commission income for 2025 includes income from custody activities in the amount of PLN 118,389 thousand (PLN
103,118 thousand in 2024) and costs of custody activities in the amount of PLN 7,279 thousand (PLN 5,428 thousand in 2024).
Net fee and commission income includes commission income that relates to assets and liabilities not measured at fair value with
the result of measurement recognised in the statement of profit or loss for 2025 in the amount of PLN 767,231 thousand, and for
2024 in the amount of PLN 814,323 thousand, and commission expense for 2025 in the amount of PLN 87,125 thousand, as
compared to PLN 86,601 thousand for 2024.
Other commissions expenses for 2025 includes PLN 27 003 thousand fees and commisions arising from mobile banking, as
compared to PLN 16 984 thousand in 2024.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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6. DIVIDEND INCOME
Dividend income
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Due to equity instruments measured at fair value through profit or loss
9,772
13,147
Due to interest in subsidiaries
8,346
-
Total dividend income
18,118
13,147
7. NET TRADING INCOME (INCLUDING RESULT ON
FOREIGN EXCHANGE)
Net trading income
12 months
ended 31.12.2025
12 months
ended 31.12.2024
restated
Due to equity instruments measured at fair value through profit or loss
66,829
22,222
Due to debt instruments measured at fair value through profit or loss
(3,718)
2,730
Due to derivative instruments and result on foreign exchange transactions
1,013,848
840,255
Total result on financial instruments measured at fair value through
profit or loss and foreign exchange differences
1,076,959
865,207
including margin on foreign exchange and derivative transactions
with customers
778,785
722,952
8. RESULT ON INVESTMENT ACTIVITIES
Result on investment activities
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Loans and advances to customers measured at fair value through profit or
loss
(1,645)
3,783
Total result on investment activities
(2,340)
14,374
There was no change in the business models operating in the Bank during 2025 and 2024 and, consequently, no change in the
classification of financial assets.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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9. NET ALLOWANCES FOR EXPECTED CREDIT LOSSES
ON FINANCIAL ASSETS AND PROVISIONS FOR
CONTINGENT LIABILITIES
Net allowances for expected credit losses
on financial assets and provisions for
contingent liabilities
12 months ended 31.12.2025
Stage 1
Stage 2
Stage 3
POCI
Total
Amounts due from banks
(44)
(1,464)
-
-
(1,508)
Loans and advances to customers measured at
amortised cost
14,794
(15,886)
(153,793)
(113)
(154,998)
Contingent commitments granted
(21,996)
4,521
18,784
(47)
1,262
Securities measured at amortised cost
(106)
-
-
-
(106)
Total net allowances for expected credit
losses on financial assets and provisions on
contingent liabilities
(7,352)
(12,829)
(135,009)
(160)
(155,350)
Net allowances for expected credit losses
on financial assets and provisions for
contingent liabilities
12 months ended 31.12.2024
Stage 1
Stage 2
Stage 3
POCI
Total
Amounts due from banks
594
-
-
-
594
Loans and advances to customers measured at
amortised cost
(20,178)
(14,908)
(122,575)
(54,537)
(212,198)
Contingent commitments granted
8,289
4,980
(27,486)
436
(13,781)
Securities measured at amortised cost
35
-
-
-
35
Total net allowances for expected credit
losses on financial assets and provisions for
contingent liabilities
(11,260)
(9,928)
(150,061)
(54,101)
(225,350)
Change of allowances for expected credit losses on financial assets
and provisions for contingent liabilities
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Opening balance
(2,494,411)
(2,552,156)
Increases due to acquisition or origination
(349,842)
(249,394)
Decreases due to derecognition
371,931
268,003
Net changes in credit risk
(299,817)
(457,175)
Change due to significant modifications
6,962
8,124
Use of allowances
405,061
480,440
Other changes (including foreign exchange differences)
14,558
7,747
Closing balance
(2,345,558)
(2,494,411)
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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Net allowances for expected credit losses on financial assets and
provisions for contingent liabilities
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Change in impairment allowances on financial assets and provisions for
contingent liabilities
(239,301)
(401,015)
Change in initial impairment on financial assets classified as POCI
(5,415)
(25,703)
Revenue from the sale and write-off of receivables and costs related to the
write-off of receivables
89,366
201,368
Total net allowances for expected credit losses on financial assets and
provisions for contingent liabilities
(155,350)
(225,350)
10. GENERAL ADMINISTRATIVE COSTS
General administrative costs
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Personnel expenses
(1,586,863)
(1,528,680)
Marketing
(121,595)
(103,893)
IT and telecom expenses
(334,468)
(305,169)
Short-term leases and operation
(88,863)
(82,622)
Other non-personnel expenses
(141,122)
(148,261)
Outsourced services from other contracts and consulting
(93,460)
(265,940)
Business travel
(12,107)
(11,631)
Vehicle operating fees
(28,397)
(26,107)
ATM and cash handling expenses
(31,448)
(29,952)
Costs of outsourcing services related to leasing operations
(918)
(1,445)
Court and notary fees
(53,626)
(49,366)
Bank Guarantee Fund fee
(196,335)
(143,992)
Cost of PFSA supervision
(22,841)
(20,079)
Total general administrative costs
(2,712,043)
(2,717,137)
Total costs related to legal support of court cases concerning CHF loans in the 12 months of 2025 amounted to PLN 59,674
thousand (for 2024: PLN 116,829 thousand) and were included in the lines: Outsourced services from other contracts and
consulting – PLN 7,197 thousand in 2025 (PLN 68,530 thousand in 2024) and Court and notary fees - PLN 52,476 thousand in
2025 (PLN 48,299 thousand in 2024).
11. PERSONNEL EXPENSES
Personnel expenses
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Payroll expenses
(1,265,223)
(1,226,044)
Payroll charges
(228,361)
(218,156)
Employee benefits
(58,456)
(58,002)
Costs of restructuring provision
(1,904)
(649)
Costs of provision for future liabilities arising from unused annual leave and
retirement benefits
(5,966)
(5,237)
Appropriations to Social Benefits Fund
(23,160)
(19,074)
Other
(3,793)
(1,518)
Total personnel expenses
(1,586,863)
(1,528,680)
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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48
12. DEPRECIATION AND AMORTISATION
Depreciation and amortisation
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Property, plant and equipment
(211,215)
(216,015)
Intangible assets
(317,675)
(298,843)
Total depreciation and amortisation
(528,890)
(514,858)
13. OTHER OPERATING INCOME
Other operating income
12 months
ended 31.12.2025
12 months
ended 31.12.2024
restated
Sale or liquidation of property, plant and equipment and intangible assets
32,579
19,233
Release of allowances on other receivables
5,011
7,907
Gains on sale of goods and services
17,592
8,651
Release of provisions for litigation and claims and other liabilities
83,212
19,460
Recovery of debt enforcement costs
18,039
19,723
Income from leasing operations
15,555
18,940
Other operating income
34,198
36,934
Total other operating income
206,186
130,848
In 2025, the item Release of provisions for litigation and claims and other liabilities includes income from release of provisions
against the legal risk of relationships with the Bank’s Partners and provisions for potential cost of litigation regarding the cancellation
of credit contracts at PLN 38 million (PLN 2 million in 2024) and provisions for other liabilities at PLN 43 million (PLN 14 million in
2024).
The Bank presents income and cost of released provisions separately: release of provisions is presented under other operating
income and the payment or settlement of liability covered by the provision is presented under other operating expenses.
14. OTHER OPERATING EXPENSES
Other operating expenses
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Cost of sale or liquidation of property, plant and equipment and intangible
assets
(10,095)
(13,614)
Impairment allowances on other receivables
(6,893)
(10,836)
Provisions for litigation and claims and other liabilities
(48,051)
(59,407)
Debt enforcement
(31,993)
(36,200)
Donations made
(9,304)
(7,779)
Costs of leasing operations
(12,278)
(20,318)
Other operating expenses
(131,743)
(100,052)
Total other operating expenses
(250,357)
(248,206)
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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49
In 2025, the item Other operating expenses includes the incidental cost of provisions against unauthorised transactions at PLN
49 million (PLN 8 million in 2024), the cost of settlements and enforcement of court judgments paid to the Bank’s Partners at PLN
36 million (PLN 3 million in 2024).
The Bank presents income and cost of released provisions separately: release of provisions is presented under other operating
income and the payment or settlement of liability covered by the provision is presented under other operating expenses.
15. INCOME TAX EXPENSE
12 months ended
31.12.2025
12 months ended
31.12.2024
Current income tax
(774,347)
(666,482)
Deferred income tax
95,286
83,641
Total income tax expense
(679,061)
(582,841)
Profit before income tax
3,691,256
2,903,639
Statutory tax rate
19%
19%
Effective tax rate
18%
20%
Income taxes on gross profit
(701,339)
(551,691)
Permanent differences, including:
(151,838)
(166,685)
Receivables written off
(10,410)
(31,882)
Representation expenses
(1,328)
(927)
PFRON
(2,064)
(2,007)
Prudential fee to the Bank Guarantee Fund
(37,304)
(27,358)
Tax on financial institutions
(74,737)
(76,945)
Research and development relief
12,256
21,254
Provision for claims related to CHF loans
(30,459)
(44,955)
Legal risk provisions
5,783
(1,113)
Other differences
(13,575)
(2,752)
Other amounts affecting the effective tax rate
174,116
135,535
Change in estimate of deferred tax created based on provisions for future
disbursements related to CHF loan cancellation process*
-
135,535
Deferred tax at tax rates expected to apply when the asset is realised or the
provision is released
174,116
-
Total income tax expense
(679,061)
(582,841)
*For details, see Note 54 Litigation, claims and administrative proceedings.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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50
16. EARNINGS PER SHARE
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Basic
Net profit
3,012,195
2,320,798
Weighted average number of ordinary shares (units)
148,447,585
147,767,964
Basic earnings (loss) per share (in PLN per one share)
20.29
15.71
Diluted
Net profit used in determining diluted earnings per share
3,012,195
2,320,798
Weighted average number of ordinary shares (units)
148,447,585
147,767,964
Adjustments for:
- stock options
128,843
148,260
Weighted average number of ordinary shares for the diluted earnings per
share (units)
148,576,428
147,916,224
Diluted earnings (loss) per share (in PLN per share)
20.27
15.69
In accordance with IAS 33, the Bank prepares the calculation of diluted net profit per share, taking into account the shares issued
conditionally under incentive schemes described in Note 39. The calculation does not take into account those elements of the
incentive schemes which had antidilutive effect in the presented reporting periods and which may potentially cause dilution of profit
per share in the future.
The basic earnings per share are calculated by dividing the net profit by the weighted average number of ordinary shares during
the period.
The diluted earnings per share are calculated based on the ratio of net profit to the weighted average number of ordinary shares
adjusted as if all potential dilutive ordinary shares had been converted to shares. The Bank has one category of dilutive potential
ordinary shares: stock options. Dilutive shares are calculated as the number of shares that would be issued if all stock options
were exercised at the market price determined as the average annual closing price of the Bank’s shares.
17. CASH AND BALANCES AT CENTRAL BANK
Cash and cash equivalents
31.12.2025
31.12.2024
Cash and other balances
2,541,539
2,382,814
Account in the National Bank of Poland
7,683,669
8,943,135
Gross cash and cash equivalents
10,225,208
11,325,949
Allowance for expected credit losses
(342)
(398)
Total cash and cash equivalents
10,224,866
11,325,551
Change in allowance for expected credit losses
on receivables on funds at the Central Bank
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Opening balance
(398)
(790)
Changes resulting from the change in credit risk (net)
56
392
Closing balance
(342)
(398)
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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51
During the day, the Bank may use cash on statutory reserve accounts for current cash settlements based on an order placed at
the National Bank of Poland. The Bank has to ensure that the average monthly balance matches the declared statutory reserve
amount.
The funds on the statutory reserve account bear interest. As at 31 December 2025, interest on statutory reserve accounts was 4%
(5.75% as at 31 December 2024).
The balance of cash in hand and at Central Bank includes the statutory reserve maintained with the National Bank of Poland. The
basic reserve requirement at 31 December 2025 was 3.5%. The declared reserve level to be maintained since 31 December 2025
was PLN 4,585,718 thousand.
18. AMOUNTS DUE FROM BANKS
31.12.2025
Stage 1
Stage 2
Stage 3
Total
Gross amounts due from banks
11,494,059
32,002
9
11,526,070
Current accounts
10,986,946
18,926
-
11,005,872
Interbank deposits
16,615
5,189
-
21,804
Loans and advances
-
-
9
9
Other receivables
490,498
7,887
-
498,385
Allowances due to expected credit loss from banks
(558)
(1,377)
(4)
(1,939)
Current accounts
(510)
(926)
-
(1,436)
Interbank deposits
(3)
(9)
-
(12)
Loans and advances
-
-
(4)
(4)
Other receivables
(45)
(442)
-
(487)
Total net amounts due from banks
11 493 501
30 625
5
11 524 131
31.12.2024
Stage 1
Stage 2
Stage 3
Total
Gross amounts due from banks
7,789,824
-
-
7,789,824
Current accounts
6,824,682
-
-
6,824,682
Interbank deposits
60,009
-
-
60,009
Loans and advances
203,173
-
-
203,173
Other receivables
701,960
-
-
701,960
Allowances due to expected credit loss from banks
(527)
-
-
(527)
Current accounts
(391)
-
-
(391)
Loans and advances
(105)
-
-
(105)
Other receivables
(31)
-
-
(31)
Total net amounts due from banks
7,789,297
-
-
7,789,297
Other receivables as at 31 December 2025 include receivables from cash collateral against settlement of derivatives in the gross
amount of PLN 496,464 thousand (PLN 701,960 thousand as at 31 December 2024).
The total gross balance of long-term amounts due from banks as at 31 December 2025 amounted to PLN 94,638 thousand (PLN
701,960 thousand as at 31 December 2024).
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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52
Change in allowance due to expected credit losses
on receivables from banks
Stage 1
Stage 2
Stage 3
Total
As at 1 January 2025
(527)
-
-
(527)
Increases due to acquisition or origination
(2,786)
(2,025)
(4)
(4,815)
Decreases due to derecognition
1,579
2,502
-
4,081
Changes resulting from the change in credit risk (net)
1,107
(1,941)
-
(834)
Other changes (including foreign exchange
differences)
69
87
-
156
As at 31 December 2025
(558)
(1,377)
(4)
(1,939)
Change in allowance due to expected credit losses
on receivables from banks
Stage 1
Stage 2
Stage 3
Total
As at 1 January 2024
(666)
(63)
-
(729)
Increases due to acquisition or origination
(4,599)
(534)
-
(5,133)
Decreases due to derecognition
6,666
-
-
6,666
Changes resulting from the change in credit risk (net)
(1,928)
597
-
(1,331)
As at 31 December 2024
(527)
-
-
(527)
19. DERIVATIVE FINANCIAL INSTRUMENTS
Fair value of derivatives held by the Bank is presented in the table below:
Trading derivatives
Nominal value
Fair value
Fair value
31.12.2025
Wartość
nominalna
Assets
Liabilities
Currency derivatives
Foreign Exchange Forward (FX Forward + NDF)
11,962,084
47,570
1,014,109
Currency Swap (FX Swap)
25,534,449
1,497,304
522,909
Currency Interest Rate Swaps (CIRS)
3,316,143
32,398
20,391
OTC currency options
6,660,552
15,756
60,721
Total currency derivatives
47,473,228
1,593,028
1,618,130
Interest rate derivatives
Interest Rate Swap
73,501,096
696,265
589,009
FRA
845,340
-
312
OTC interest rate options
6,876,181
17,702
18,482
Total interest rate derivatives
81,222,617
713,967
607,803
Other derivatives
OTC Commodity Swap
1,313,706
52,465
50,642
Currency Spot (FX Spot)
1,890,734
-
-
Total other derivatives
3,204,440
52,465
50,642
Total trading derivatives
131,900,285
2,359,460
2,276,575
Including: measured using models
131,900,285
2,359,460
2,276,575
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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53
Trading derivatives
Nominal value
Fair value
Fair value
31.12.2024
Wartość
nominalna
Assets
Liabilities
Currency derivatives
Foreign Exchange Forward (FX Forward + NDF)
14,469,317
37,255
906,062
Currency Swap (FX Swap)
32,426,711
1,271,409
302,283
Currency Interest Rate Swaps (CIRS)
5,326,035
44,928
26,099
OTC currency options
5,830,272
15,179
66,341
Total currency derivatives
58,052,335
1,368,771
1,300,785
Interest rate derivatives
Interest Rate Swap
73,389,031
1,002,488
944,444
FRA
1,922,850
22
159
OTC interest rate options
9,492,475
40,739
41,417
Total interest rate derivatives
84,804,356
1,043,249
986,020
Other derivatives
OTC Commodity Swap
1,167,654
28,096
24,936
Currency Spot (FX Spot)
1,243,941
-
-
Total other derivatives
2,411,595
28,096
24,936
Total trading derivatives
145,268,286
2,440,116
2,311,741
Including: measured using models
145,268,286
2,440,116
2,311,741
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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Fair value of derivatives by maturity*
Fair value of assets
Fair value of liabilities
31.12.2025
Total
<= 1
month
> 1 month
<= 3 months
> 3 months
<= 12 months
> 1 year
<= 5 years
> 5
years
Total
<= 1
month
> 1 month
<= 3 months
> 3 months
<= 12 months
> 1 year
<= 5 years
> 5
years
Trading derivatives
Currency derivatives
Foreign Exchange Forward
(FX Forward + NDF)
47,570
6,537
7,340
22,098
11,595
-
1,014,109
57,778
105,547
402,375
448,409
-
Currency Swap (FX Swap)
1,497,304
85,665
80,293
566,685
764,661
-
522,909
22,668
13,627
101,030
385,584
-
Currency Interest Rate
Swaps (CIRS)
32,398
-
-
6,031
26,295
72
20,391
-
209
-
20,051
131
OTC currency options
15,756
2,256
2,615
5,767
5,118
-
60,721
5,203
9,150
31,118
15,250
-
Total currency
derivatives
1,593,028
94,458
90,248
600,581
807,669
72
1,618,130
85,649
128,533
534,523
869,294
131
Interest rate derivatives
Interest Rate Swap
696,265
1,520
1,461
49,218
367,225
276,841
589,009
5,157
6,651
27,324
350,603
199,274
FRA
-
-
-
-
-
-
312
-
-
312
-
-
OTC interest rate options
17,702
-
1
992
13,999
2,710
18,482
-
1
1,359
14,362
2,760
Total interest rate
derivatives
713,967
1,520
1,462
50,210
381,224
279,551
607,803
5,157
6,652
28,995
364,965
202,034
Other derivatives
OTC Commodity Swap
52,465
20,184
13,739
16,610
1,932
-
50,642
19,850
13,529
15,899
1,364
-
Total other derivatives
52,465
20,184
13,739
16,610
1,932
-
50,642
19,850
13,529
15,899
1,364
-
Total trading derivatives
2,359,460
116,162
105,449
667,401
1,190,825
279,623
2,276,575
110,656
148,714
579,417
1,235,623
202,165
*Financial data have been rounded and presented in PLN’000, and therefore, in some cases, the totals may not correspond exactly to the total sum.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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55
Fair value of assets
Fair value of liabilities
31.12.2024
Total
<= 1
month
> 1 month
<= 3 months
> 3 months
<= 12 months
> 1 year
<= 5
years
> 5
years
Total
<= 1
month
> 1 month
<= 3 months
> 3 months
<= 12 months
> 1 year
<= 5
years
> 5
years
Trading derivatives
Currency derivatives
Foreign Exchange Forward
(FX Forward + NDF)
37,255
3,987
5,033
14,586
13,649
-
906,062
47,010
78,748
224,761
555,543
-
Currency Swap (FX Swap)
1,271,409
78,884
81,101
434,549
676,875
-
302,283
32,892
24,699
13,229
231,463
-
Currency Interest Rate
Swaps (CIRS)
44,928
-
170
6,450
38,113
195
26,099
-
-
1,311
24,645
143
OTC currency options
15,179
1,326
3,080
5,003
5,770
-
66,341
7,793
21,110
25,924
11,514
-
Total currency
derivatives
1,368,771
84,197
89,384
460,588
734,407
195
1,300,785
87,695
124,557
265,225
823,165
143
Interest rate derivatives
Interest Rate Swap
1,002,488
1,951
13,892
133,199
445,294
408,152
944,444
1,198
10,664
100,822
451,068
380,692
FRA
22
-
-
22
-
-
159
-
-
159
-
-
OTC interest rate options
40,739
-
57
8,330
26,907
5,445
41,417
-
57
7,961
27,609
5,790
Total interest rate
derivatives
1,043,249
1,951
13,949
141,551
472,201
413,597
986,020
1,198
10,721
108,942
478,677
386,482
Other derivatives
OTC Commodity Swap
28,096
6,809
4,377
14,414
2,496
-
24,936
6,530
4,226
12,583
1,597
-
Total other derivatives
28,096
6,809
4,377
14,414
2,496
-
24,936
6,530
4,226
12,583
1,597
-
Total trading derivatives
2,440,116
92,957
107,710
616,553
1,209,104
413,792
2,311,741
95,423
139,504
386,750
1,303,439
386,625
*Financial data have been rounded and presented in PLN’000, and therefore, in some cases, the totals may not correspond exactly to the total sum.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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Maturity dates:
● for NDF, FX forward, FX swap, currency and index options, IRS, CIRS: calculated as a difference in days between the
transaction maturity date and the balance sheet date,
● for FX spot, FRA, securities to be delivered/received: calculated as a difference in days between the transaction value date
and the balance sheet date.
20. HEDGE ACCOUNTING
Fair value hedge
As at 31 December 2025, the Bank used fair value hedge (macro fair value hedge).
Hedging relationship description
The hedges are used against interest rate risk, specifically changes in the fair
value of fixed-rate assets and liabilities resulting from changes in a specific
reference rate.
Hedged items
Fixed-rate PLN, EUR and USD current accounts are the hedged items.
Hedging instruments
Hedging instruments include standard IRS transactions, i.e. plain vanilla IRS in
PLN, EUR and USD, in which the Bank receives a fixed interest rate and pays
a floating rate based on WIBOR 6M, WIBOR 3M, EURIBOR 6M, EURIBOR 3M,
EUR ESTR, USD SOFR.
Hedged position
Nominal value
Fair value
Assets
Liabilities
31.12.2025
21,392,032
-
21,472,628
31.12.2024
18,848,110
-
18,603,684
IRS
Nominal value
Fair value
Assets
Liabilities
31.12.2025
21,392,032
230,410
321,095
31.12.2024
18,848,110
128,395
560,884
Presentation of result on the hedged and
hedging transactions
The change in fair value of hedging instruments is recognised in the Result on
hedge accounting. Interest on IRS transactions and current accounts is
recognised in Interest income.
The liabilities in the item “Differences from hedge accounting” include the adjustment of the value of hedged instruments (deposits)
amounting to:
31.12.2025 ‑PLN 158,096 thousand
31.12.2024 ‑PLN 482,813 thousand
and the difference in valuation to fair value of hedged items for which the hedging relationship was terminated during its term,
amounting to:
31.12.2025 ‑PLN 7,357 thousand
31.12.2024 ‑PLN 98,875 thousand
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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The table below presents derivative hedging instruments at their nominal value by residual maturity dates as at 31 December 2025
and 31 December 2024:
31.12.2025
Hedging derivatives
Fair value
Nominal value
positive
negative
< 1 month
1-3 months
3 months-1
year
1-5 years
> 5 years
Total
Interest rate
agreements
Swap (IRS)
230,410
321,095
2,924,039
1,919,216
3,980,430
7,161,408
5,406,939
21,392,032
Hedging derivatives -
total
230,410
321,095
2,924,039
1,919,216
3,980,430
7,161,408
5,406,939
21,392,032
31.12.2024
Hedging derivatives
Fair value
Nominal value
positive
negative
< 1 month
1-3 months
3 months-1
year
1-5 years
> 5 years
Total
Interest rate
agreements
Swap (IRS)
128,395
560,884
977,636
3,653,415
3,739,030
6,941,727
3,536,302
18,848,110
Hedging derivatives -
total
128,395
560,884
977,636
3,653,415
3,739,030
6,941,727
3,536,302
18,848,110
In 2025 and 2024, the hedging relationships presented proved effective.
As at 31 December 2025, the Bank used no fair value hedge accounting for fixed-rate loans in PLN (micro fair value hedge).
The hedging relationship as at 31 December 2024 expired in 2025.
Hedging relationship description
The hedges were used against interest rate risk, specifically changes in the fair
value of fixed-rate assets and liabilities resulting from changes in a specific
reference rate.
Hedged items
The hedged items were fixed-rate loans in PLN.
Hedging instruments
Hedging instruments were standard IRS transactions, i.e. plain vanilla IRS,
denominated in PLN, in which the Bank received a floating rate based on WIBOR
3M and paid a fixed interest rate.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
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Hedged position
Nominal value
Fair value
Assets
Liabilities
31.12.2024
1,025,000
1,075,119
-
IRS
Nominal value
Fair value
Assets
Liabilities
31.12.2024
1,025,000
-
46,206
Presentation of result on the hedged and
hedging transactions
The change in fair value of hedging transactions is recognised in the Result on
hedge accounting. Interest on IRS transactions and hedged items is recognised
in Interest income.
Also included in assets under “Fair value adjustment of hedged and hedging items” is an adjustment to the value of hedged
instruments (loans) amounting to:
31.12.2024 ‑PLN 367 thousand
The table below presents derivative hedging instruments at their nominal value by residual maturity dates as at 31 December
2024:
31.12.2024
Hedging derivatives
Fair value
Nominal value
positive
negative
< 1 month
1-3 months
3 months-1
year
1-5 years
> 5 years
Total
Interest rate
agreements
Swap (IRS)
-
46,206
275,000
750,000
-
-
-
1,025,000
Hedging derivatives -
total
-
46,206
275,000
750,000
-
-
-
1,025,000
In 2024, the hedging relationships presented proved effective.
Additionally, the Bank applies micro fair value hedge accounting as at 31 December 2025.
Hedging relationship description
The hedges are used against interest rate risk, specifically changes in the fair
value of fixed-rate assets and liabilities resulting from changes in a specific
reference rate.
Hedged items
The hedged items are: fixed coupon bonds in EUR and USD.
Hedging instruments
Hedging instruments are the standard IRS transactions, i.e. plain vanilla IRS,
denominated in EUR and USD, in which the Bank pays a fixed interest rate and
receives a floating rate based on EUR ESTR and USD SOFR.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
59
Hedged position
Nominal value
Fair value
Assets
Liabilities
31.12.2025
12,326,873
12,447,552
-
31.12.2024
9,319,699
9,362,899
-
IRS
Nominal value
Fair value
Assets
Liabilities
31.12.2025
12,326,873
68,402
99,700
31.12.2024
9,319,699
102,630
120,190
Presentation of result on the hedged and
hedging transactions
The change in fair value of hedging transactions is recognised in the Result on
hedge accounting. Interest on IRS transactions and hedged items is recognised
in Interest income.
The table below presents derivative hedging instruments at their nominal value by residual maturity dates as at 31 December 2025
and 31 December 2024:
31.12.2025
Hedging derivatives
Fair value
Nominal value
positive
negative
< 1 month
1-3 months
3 months-1
year
1-5 years
> 5 years
Total
Interest rate
agreements
Swap (IRS)
68,402
99,700
-
180,080
92,987
5,629,378
6,424,427
12,326,872
Hedging derivatives -
total
68,402
99,700
-
180,080
92,987
5,629,378
6,424,427
12,326,872
31.12.2024
Hedging derivatives
Fair value
Nominal value
positive
negative
< 1 month
1-3 months
3 months-1
year
1-5 years
> 5 years
Total
Interest rate
agreements
Swap (IRS)
102,630
120,190
-
-
562,175
3,110,437
5,647,087
9,319,699
Hedging derivatives -
total
102,630
120,190
-
-
562,175
3,110,437
5,647,087
9,319,699
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
60
Amounts recognised in the statement of profit or loss under fair value hedge accounting:
12 months ended
31.12.2025
12 months ended
31.12.2024
Interest income on hedging derivative instruments
737,283
854,393
Interest expense on hedging derivative instruments
(889,085)
(1,036,163)
Interest expense on amortisation of the hedged position in fair value hedge
accounting
(91,518)
(239,327)
Change in fair value of hedging transactions recognised in the Result on
hedge accounting, including:
(10,971)
1,930
change in fair value of hedging instruments
378,243
56,113
change in fair value of hedged instruments
(389,214)
(54,183)
In 2025 and 2024, the hedging relationships presented proved effective.
Cash flow hedging
Additionally, the Bank applies cash flow hedge accounting as at 31 December 2025.
Hedging relationship description
The hedges are used against interest rate risk, specifically no changes in the
interest cash flows on the hedged item, resulting from the changes in a specific
reference rate.
Hedged items
The hedged items are: Floating rate bonds WZ1131 and WZ0330.
Hedging instruments
Hedging instruments include standard IRS transactions, i.e. plain vanilla IRS in
PLN in which the Bank receives a fixed rate and pays a floating rate based on
WIBOR 6M.
Hedged position
Nominal value
Fair value
Assets
Liabilities
31.12.2025
1,325,000
1,291,131
-
31.12.2024
625,000
602,037
-
IRS
Nominal value
Fair value
Assets
Liabilities
31.12.2025
1,325,000
46,738
64,745
31.12.2024
625,000
-
114,433
Presentation of result on the hedged and
hedging transactions
The change in fair value of derivative hedging instruments designated as
hedging of cash flows is recognised directly in the Revaluation reserve in the
part constituting the effective part of the hedge. The ineffective part of the hedge
is recognised in the statement of profit or loss under Result on hedge accounting.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
61
The table below presents derivative hedging instruments at their nominal value by residual maturity dates as at 31 December 2025
and 31 December 2024:
31.12.2025
Hedging derivatives
Fair value
Nominal value
positive
negative
< 1 month
1-3 months
3 months-1
year
1-5 years
> 5 years
Total
Interest rate
agreements
Swap (IRS)
46,738
64,745
-
-
-
700,000
625,000
1,325,000
Hedging derivatives -
total
46,738
64,745
-
-
-
700,000
625,000
1,325,000
31.12.2024
Hedging derivatives
Fair value
Nominal value
positive
negative
< 1 month
1-3 months
3 months-1
year
1-5 years
> 5 years
Total
Interest rate
agreements
Swap (IRS)
-
114,433
-
-
-
-
625,000
625,000
Hedging derivatives -
total
-
114,433
-
-
-
-
625,000
625,000
Amounts recognised in the statement of profit or loss under cash flow hedge accounting:
12 months ended
31.12.2025
12 months ended
31.12.2024
Interest income on hedging derivative instruments
39,312
11,628
Interest expense on hedging derivative instruments
(63,816)
(36,561)
Change in fair value of hedging transactions recognised in the Result on
hedge accounting, including:
(190)
16
change in fair value of hedging instruments
(190)
16
change in fair value of hedged instruments
-
-
Changes in revaluation reserve due to valuation of derivative hedging instruments in cash flow hedge accounting.
12 months ended
31.12.2025
12 months ended
31.12.2024
Opening balance
(112,125)
(101,987)
Hedging gains or losses recognised in other comprehensive income during
the reporting period
78,145
(10,138)
Closing balance
(33,980)
(112,125)
In 2025 and 2024, the hedging relationships presented proved effective.
The adjustment of the fair value of the hedged and hedging positions includes the items presented in the table below:
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
62
2025
2024
Adjustment of the fair value of the hedged and
hedging positions
Assets
Liabilities
Assets
Liabilities
Hedging positions:
345,550
485,540
231,025
841,713
Derivatives designated as fair value hedge – IRS
298,812
420,795
231,025
727,280
Derivatives designated as cash flow hedge – IRS
46,738
64,745
-
114,433
Hedged positions:
-
(165,453)
(367)
(581,688)
Hedged instruments value adjustment – active
relationships
-
(158,096)
(367)
(482,813)
deposits
-
(158,096)
-
(482,813)
loans
-
-
(367)
-
Difference in value to hedged position fair value –
terminated relationships
-
(7,357)
-
(98,875)
Closing balance
345,550
320,087
230,658
260,025
21. LOANS AND ADVANCES TO CUSTOMERS MEASURED
AT AMORTISED COST
31.12.2025
Loans and advances to customers
measured at amortised cost
Gross balance
sheet value
Allowance
Net balance
sheet value
Loans and advances for
Non-bank financial entities
6,122,520
(48,348)
6,074,172
overdraft
5,637,462
(13,007)
5,624,455
investment loans
183,203
(34,858)
148,345
other loans
301,855
(483)
301,372
Retail customers
34,428,276
(668,459)
33,759,817
mortgage loans
21,335,075
(225,837)
21,109,238
other loans
13,093,201
(442,622)
12,650,579
Corporate customers
48,104,604
(1,452,913)
46,651,691
overdraft
21,807,021
(696,606)
21,110,415
investment loans
19,656,273
(593,366)
19,062,907
other loans
6,641,310
(162,941)
6,478,369
including individual farmers
7,296,966
(249,325)
7,047,641
overdraft
4,712,173
(139,978)
4,572,195
investment loans
2,572,536
(108,173)
2,464,363
other loans
12,257
(1,174)
11,083
Public sector entities
218,025
(984)
217,041
overdraft
170,374
(861)
169,513
investment loans
30,750
(104)
30,646
other loans
16,901
(19)
16,882
Lease receivables
96,632
(12,952)
83,680
Total loans and advances to customers
measured at amortised cost
88,970,057
(2,183,656)
86,786,401
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
63
31.12.2024
Loans and advances to customers
measured at amortised cost
Gross balance
sheet value
Allowance
Net balance
sheet value
Loans and advances for
Non-bank financial entities
6,484,263
(28,960)
6,455,303
overdraft
5,669,050
(23,666)
5,645,384
investment loans
428,858
(4,786)
424,072
other loans
386,355
(508)
385,847
Retail customers
32,858,093
(763,594)
32,094,499
mortgage loans
20,207,062
(271,971)
19,935,091
other loans
12,651,031
(491,623)
12,159,408
Corporate customers
43,959,373
(1,512,250)
42,447,123
overdraft
19,592,707
(822,522)
18,770,185
investment loans
18,002,369
(528,263)
17,474,106
other loans
6,364,297
(161,465)
6,202,832
including individual farmers
7,769,080
(361,727)
7,407,353
overdraft
5,028,136
(197,256)
4,830,880
investment loans
2,730,561
(163,321)
2,567,240
other loans
10,383
(1,150)
9,233
Public sector entities
67,960
(516)
67,444
overdraft
44,577
(453)
44,124
investment loans
23,165
(60)
23,105
other loans
218
(3)
215
Lease receivables
151,860
(26,971)
124,889
Total loans and advances to customers
measured at amortised cost
83,521,549
(2,332,291)
81,189,258
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
64
Net loans and advances to customers by Stage
31.12.2025
Stage 1
Stage 2
Stage 3
POCI
Total
Gross loans and advances to customers
measured at amortised cost
79,114,490
7,462,059
2,277,438
116,070
88,970,057
Non-bank financial entities
5,909,974
209,454
2,582
510
6,122,520
Retail customers
31,963,611
1,787,990
645,479
31,196
34,428,276
Corporate customers
41,025,028
5,373,702
1,621,510
84,364
48,104,604
including individual farmers
6,398,264
626,899
256,424
15,379
7,296,966
Public sector entities
212,950
5,075
-
-
218,025
Lease receivables
2,927
85,838
7,867
-
96,632
Allowances for expected credit losses on
loans and advances for
(324,108)
(532,871)
(1,313,300)
(13,377)
(2,183,656)
Non-bank financial entities
(9,496)
(36,526)
(2,148)
(178)
(48,348)
Retail customers
(91,122)
(128,304)
(446,511)
(2,522)
(668,459)
Corporate customers
(222,708)
(358,169)
(861,359)
(10,677)
(1,452,913)
including individual farmers
(69,293)
(34,228)
(143,642)
(2,162)
(249,325)
Public sector entities
(776)
(208)
-
-
(984)
Lease receivables
(6)
(9,664)
(3,282)
-
(12,952)
Total net loans and advances to customers
measured at amortised cost
78,790,382
6,929,188
964,138
102,693
86,786,401
31.12.2024
Stage 1
Stage 2
Stage 3
POCI
Total
Gross loans and advances to customers
measured at amortised cost
72,748,214
8,106,657
2,550,778
115,900
83,521,549
Non-bank financial entities
6,370,246
104,738
9,070
209
6,484,263
Retail customers
29,641,536
2,477,237
704,447
34,873
32,858,093
Corporate customers
36,602,677
5,463,511
1,812,367
80,818
43,959,373
including individual farmers
6,466,106
896,275
391,583
15,116
7,769,080
Public sector entities
58,752
9,208
-
-
67,960
Lease receivables
75,003
51,963
24,894
-
151,860
Allowances for expected credit losses on
loans and advances for
(339,533)
(520,612)
(1,445,674)
(26,472)
(2,332,291)
Non-bank financial entities
(10,238)
(11,463)
(7,152)
(107)
(28,960)
Retail customers
(87,484)
(196,969)
(476,276)
(2,865)
(763,594)
Corporate customers
(238,886)
(305,132)
(944,732)
(23,500)
(1,512,250)
including individual farmers
(74,904)
(47,840)
(236,922)
(2,061)
(361,727)
Public sector entities
(252)
(264)
-
-
(516)
Lease receivables
(2,673)
(6,784)
(17,514)
-
(26,971)
Total net loans and advances to customers
measured at amortised cost
72,408,681
7,586,045
1,105,104
89,428
81,189,258
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
65
31.12.2025
Stage 2
Stage 3
Total
Gross POCI loans and advances to customers
measured at amortised cost
30,352
85,718
116,070
Non-bank financial entities
3
507
510
Retail customers
20,911
10,285
31,196
Corporate customers
9,438
74,926
84,364
including individual farmers
3,428
11,951
15,379
Allowances for expected credit losses on
loans and advances for
(94)
(13,283)
(13,377)
Non-bank financial entities
-
(178)
(178)
Retail customers
(48)
(2,474)
(2,522)
Corporate customers
(46)
(10,631)
(10,677)
including individual farmers
-
(2,162)
(2,162)
Total net POCI loans and advances to customers
measured at amortised cost
30,258
72,435
102,693
31.12.2024
Stage 2
Stage 3
Total
Gross POCI loans and advances to customers
measured at amortised cost
31,942
83,958
115,900
Non-bank financial entities
4
205
209
Retail customers
23,907
10,966
34,873
Corporate customers
8,031
72,787
80,818
including individual farmers
1,261
13,855
15,116
Allowances for expected credit losses on
loans and advances for
(190)
(26,282)
(26,472)
Non-bank financial entities
-
(107)
(107)
Retail customers
(87)
(2,778)
(2,865)
Corporate customers
(103)
(23,397)
(23,500)
including individual farmers
-
(2,061)
(2,061)
Total net POCI loans and advances to customers
measured at amortised cost
31,752
57,676
89,428
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
66
Allowance for expected credit losses on loans and advances measured at amortised cost
Change in allowances for expected credit
losses
Stage 1
Stage 2
Stage 3
POCI
Total
As at 1 January 2025
(339,533)
(520,612)
(1,445,674)
(26,472)
(2,332,291)
Increase due to acquisition or origination
(164,854)
(15,329)
(37,640)
-
(217,823)
Decrease due to derecognition
62,786
42,303
141,122
1,715
247,926
Changes resulting from the change in credit risk
(net)*
116,857
(42,848)
(377,421)
3,587
(299,825)
Use of allowances
11
229
397,040
7,781
405,061
Other changes (including foreign exchange
differences)
625
3,386
9,273
12
13,296
As at 31 December 2025
(324,108)
(532,871)
(1,313,300)
(13,377)
(2,183,656)
Change in allowances for expected credit
losses
Stage 1
Stage 2
Stage 3
POCI
Total
As at 1 January 2024
(320,337)
(554,119)
(1,491,020)
(38,862)
(2,404,338)
Increase due to acquisition or origination
(131,913)
(20,188)
(37,870)
-
(189,971)
Decrease due to derecognition
34,739
37,628
142,628
977
215,972
Changes resulting from the change in credit risk
(net)*
76,997
(32,343)
(458,054)
(29,815)
(443,215)
Use of allowances
2
43,802
395,513
41,122
480,439
Other changes (including foreign exchange
differences)
979
4,608
3,129
106
8,822
As at 31 December 2024
(339,533)
(520,612)
(1,445,674)
(26,472)
(2,332,291)
*For details, see Note 3a Impairment of financial assets
The total gross balance of long-term loans and advances to customers as at 31 December 2025 amounted to PLN 73,586,082
thousand (PLN 70,556,302 thousand as at 31 December 2024).
Change in gross loans and advances to
customers measured at amortised cost
Stage 1
Stage 2
Stage 3
POCI
Total
As at 1 January 2025
72,748,214
8,106,657
2,550,778
115,900
83,521,549
Increase due to acquisition or origination
24,883,348
1,294,308
87,136
50,760
26,315,552
Decrease due to derecognition
(27,447,008)
(4,858,560)
(1,072,253)
(78,559)
(33,456,380)
Changes resulting from transfers between
stages
(2,673,063)
2,026,866
646,197
-
-
Other changes
11,602,999
892,788
65,580
27,969
12,589,336
As at 31 December 2025
79,114,490
7,462,059
2,277,438
116,070
88,970,057
Change in gross loans and advances to
customers measured at amortised cost
Stage 1
Stage 2
Stage 3
POCI
Total
As at 1 January 2024
72,744,166
8,253,483
2,396,847
147,067
83,541,563
Increase due to acquisition or origination
19,579,810
1,047,096
166,272
42,504
20,835,682
Decrease due to derecognition
(25,657,304)
(4,246,866)
(1,471,520)
(172,058)
(31,547,748)
Changes resulting from transfers between
stages
(3,137,574)
2,137,263
1,000,311
-
-
Other changes
9,219,116
915,681
458,868
98,387
10,692,052
As at 31 December 2024
72,748,214
8,106,657
2,550,778
115,900
83,521,549
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
67
Gross amount of foreign currency mortgage loans for retail customers (in PLN’000)
Loans by currency
31.12.2025
31.12.2024
CHF
254,276
406,207
EUR
18,334
20,928
PLN
21,062,351
19,779,708
USD
114
219
Total
21,335,075
20,207,062
31.12.2025
Value of loan portfolio including CHF
Gross balance
sheet value
including CHF
exposures
Allowance
including CHF
exposures
Loans and advances for
Non-bank financial entities
6,122,520
369
(48,348)
-
overdraft
5,637,462
369
(13,007)
-
investment loans
183,203
-
(34,858)
-
other loans
301,855
-
(483)
-
Retail customers
34,428,276
257,392
(668,459)
(101,869)
mortgage loans
21,335,075
254,276
(225,837)
(99,747)
other loans
13,093,201
3,116
(442,622)
(2,122)
Corporate customers
48,104,604
18,229
(1,452,913)
(8,353)
overdraft
21,807,021
11,771
(696,606)
(2,063)
investment loans
19,656,273
6,458
(593,366)
(6,290)
other loans
6,641,310
-
(162,941)
-
including individual farmers
7,296,966
44
(249,325)
(2)
overdraft
4,712,173
44
(139,978)
(2)
investment loans
2,572,536
-
(108,173)
-
other loans
12,257
-
(1,174)
-
Public sector entities
218,025
-
(984)
-
overdraft
170,374
-
(861)
-
investment loans
30,750
-
(104)
-
other loans
16,901
-
(19)
-
Lease receivables
96,632
4,696
(12,952)
(1,264)
Total loans and advances
88,970,057
280,686
(2,183,656)
(111,486)
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
68
31.12.2024
Value of loan portfolio including CHF
Gross balance
sheet value
including CHF
exposures
Allowance
including CHF
exposures
Loans and advances for
Non-bank financial entities
6,484,263
-
(28,960)
-
overdraft
5,669,050
-
(23,666)
-
investment loans
428,858
-
(4,786)
-
other loans
386,355
-
(508)
-
Retail customers
32,858,093
413,149
(763,594)
(126,534)
mortgage loans
20,207,062
406,207
(271,971)
(122,514)
other loans
12,651,031
6,942
(491,623)
(4,020)
Corporate customers
43,959,373
32,485
(1,512,250)
(9,964)
overdraft
19,592,707
24,742
(822,522)
(2,930)
investment loans
18,002,369
7,743
(528,263)
(7,034)
other loans
6,364,297
-
(161,465)
-
including individual farmers
7,769,080
212
(361,727)
(20)
overdraft
5,028,136
212
(197,256)
(20)
investment loans
2,730,561
-
(163,321)
-
other loans
10,383
-
(1,150)
-
Public sector entities
67,960
-
(516)
-
overdraft
44,577
-
(453)
-
investment loans
23,165
-
(60)
-
other loans
218
-
(3)
-
Lease receivables
151,860
23,156
(26,971)
(14,329)
Total loans and advances
83,521,549
468,790
(2,332,291)
(150,827)
22. LOANS AND ADVANCES TO CUSTOMERS MEASURED
AT FAIR VALUE THROUGH PROFIT OR LOSS
31.12.2025
31.12.2024
Subsidised loans
286,183
452,506
Total loans and advances to customers measured at fair value through
profit or loss
286,183
452,506
The table below presents a comparison of the fair value of subsidised loans with their gross balance sheet value, which would
have been recognised if the Bank - in accordance with the requirements of IFRS 9 - did not measure these portfolios to fair value
through profit or loss.
Gross balance sheet value
Fair value
31.12.2025
352,481
286,183
31.12.2024
527,495
452,506
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
69
Subsidised loans measured at fair value
Stage 1
Stage 2
Stage 3
Total
31.12.2025
225,234
51,044
9,905
286,183
31.12.2024
347,269
86,634
18,603
452,506
23. SECURITIES MEASURED AS AMORTISED COST
31.12.2025
Securities
Gross balance
sheet value
Allowance
Net balance
sheet value
issued by local banks
5,419,691
(66)
5,419,625
issued by other financial institutions
8,319,932
(23)
8,319,909
issued by governments – Treasury bonds
22,414,182
(84)
22,414,098
issued by non-financial entities – bonds
8,155
(4,217)
3,938
issued by local governments – municipal bonds
23,100
(44)
23,056
Total securities measured at amortised cost
36,185,060
(4,434)
36,180,626
31.12.2024
Securities
Gross balance
sheet value
Allowance
Net balance
sheet value
issued by local banks
4,312,778
(55)
4,312,723
issued by other financial institutions
7,270,226
(20)
7,270,206
issued by governments – Treasury bonds
20,747,460
(81)
20,747,379
issued by non-financial entities – bonds
4,155
(4,155)
-
issued by local governments – municipal bonds
34,265
(23)
34,242
Total securities measured at amortised cost
32,368,884
(4,334)
32,364,550
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
70
31.12.2025
Stage 1
Stage 2
Stage 3
Total
Securities
36,180,905
-
4,155
36,185,060
issued by local banks
5,419,691
-
-
5,419,691
issued by other financial institutions
8,319,932
-
-
8,319,932
issued by governments – Treasury bonds
22,414,182
-
-
22,414,182
issued by non-financial entities – bonds
4,000
-
4,155
8,155
issued by local governments – municipal bonds
23,100
-
-
23,100
Impairment allowances on securities:
(279)
-
(4,155)
(4,434)
issued by local banks
(66)
-
-
(66)
issued by other financial institutions
(23)
-
-
(23)
issued by governments – Treasury bonds
(84)
-
-
(84)
issued by non-financial entities – bonds
(62)
-
(4,155)
(4,217)
issued by local governments – municipal bonds
(44)
-
-
(44)
Total net securities measured at amortised cost
36,180,626
-
-
36,180,626
31.12.2024
Stage 1
Stage 2
Stage 3
Total
Securities
32,364,729
-
4,155
32,368,884
issued by local banks
4,312,778
-
-
4,312,778
issued by other financial institutions
7,270,226
-
-
7,270,226
issued by governments – Treasury bonds
20,747,460
-
-
20,747,460
issued by non-financial entities – bonds
-
-
4,155
4,155
issued by local governments – municipal bonds
34,265
-
-
34,265
Impairment allowances on securities:
(179)
-
(4,155)
(4,334)
issued by governments – Treasury bonds
(81)
-
-
(81)
issued by non-financial entities – bonds
-
-
(4,155)
(4,155)
issued by local governments – municipal bonds
(23)
-
-
(23)
Total net securities measured at amortised cost
32,364,550
-
-
32,364,550
Pursuant to Article 369 of the Act of 10 June 2026 on the Bank Guarantee Fund, the Deposit Guarantee System and Forced
Restructuring, there is no need to keep funds blocked in the Bank’s Securities Register account with NBP since 2025.
In accordance with the Bank Guarantee Fund (“BFG”) Act of 14 December 1994, as at 31 December 2024, BNP Paribas held
Treasury bonds recognised in the statement of financial position in the amount of PLN 348,772 thousand (with the nominal value
of PLN 360,000 thousand), securing the guaranteed funds under BFG.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
71
Change in debt instruments measured at amortised cost at carrying
value
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Opening balance
32,364,550
26,246,278
Purchase of securities
7,473,698
11,316,130
Redemption of securities
(1,382,368)
(1,944,534)
Sale of securities
(2,329,555)
(3,080,657)
Change in impairment allowances
(101)
35
Change in interest due, foreign exchange differences, discounts and
premiums
54,402
(172,702)
Closing balance
36,180,626
32,364,550
Change in impairment allowances on debt instruments measured at
amortised cost
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Opening balance
(4,334)
(4,368)
Increases due to creation and acquisition
(672)
(66)
Decreases due to derecognition
562
-
Changes due to changes in credit risk (net)
10
100
Closing balance
(4,434)
(4,334)
The gross amount of long-term securities measured at amortised cost as at 31 December 2025 was PLN 35,909,681 thousand
(PLN 30,651,053 thousand as at 31 December 2024).
24. SECURITIES MEASURED AT FAIR VALUE THROUGH
PROFIT OR LOSS
Securities measured at fair value through profit or loss
31.12.2025
31.12.2024
Bonds convertible for non-financial entities shares
68,767
80,284
Equity instruments
171,162
239,821
Certificates issued by non-financial entities
480
820
Total securities measured at fair value through profit or loss
240,409
320,925
Change in securities measured at fair value through profit or loss
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Opening balance
320,925
290,887
Purchase of securities
62,000
2,258
Redemption of securities
(4,000)
(2,001)
Sale of securities
(72,655)
-
Change in measurement at fair value through profit or loss
(55,639)
26,740
Change in interest due, foreign exchange differences, discounts and
premiums
(10,222)
3,041
Closing balance
240,409
320,925
The gross amount of long-term securities measured at fair value through profit or loss as at 31 December 2025 was PLN 12,794
thousand (PLN 32,663 thousand as at 31 December 2024).
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
72
The table below presents the amount of securities measured at fair value through profit or loss, divided into classified at fair value
through profit or loss and obligatorily measured at fair value through profit and loss.
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Classified as obligatorily measured at fair value through profit or loss at
initial recognition
69,247
81,103
Classified as measured at fair value through profit or loss at initial
recognition
171,162
239,822
Total securities measured at fair value through profit or loss
240,409
320,925
25. SECURITIES MEASURED AT FAIR VALUE THROUGH
OTHER COMPREHENSIVE INCOME
Securities
31.12.2025
31.12.2024
issued by Central Bank - NBP bills
2,198,779
4,997,605
issued by banks - bonds
2,811,136
2,629,766
issued by governments - treasury bonds
6,901,457
4,303,712
issued by other financial institutions - bonds
12,808,430
11,096,371
Securities measured at fair value through other comprehensive income
24,719,802
23,027,454
Change of securities measured at fair value through other
comprehensive income
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Opening balance
23,027,454
16,634,303
Purchase of securities
174,251,926
243,028,982
Redemption of securities
(171,726,000)
(235,600,230)
Sale of securities
(582,599)
(1,121,481)
Change in measurement at fair value through other comprehensive income
347,318
43,787
Change in measurement at fair value through profit or loss
(64,865)
23,220
Change in interest due, foreign exchange differences, discounts and
premiums
(535,129)
32,367
Other changes
1,697
(13,494)
Closing balance
24,719,802
23,027,454
The gross amount of securities measured at fair value through other comprehensive income as at 31 December 2025 was PLN
22,068,533 thousand (PLN 16,077,861 thousand as at 31 December 2024).
The table below presents gains and losses related to securities measured at fair value through other comprehensive income, which
in the given period were recognised directly in equity, and then were derecognised and recognised in profit or loss for a given
period of 12 months ended 31 December 2025 and 31 December 2024.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
73
Profit/loss on securities measured at fair value through other
comprehensive income
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Profits included directly in equity and then transferred from equity to the
statement of profit or loss
222
11 183
Losses included directly in equity and then transferred from equity to the
statement of profit or loss
(917)
(592)
Total profit/loss on securities measured at fair value through other
comprehensive income
(695)
10,591
26. INVESTMENTS IN SUBSIDIARIES
31.12.2025
31.12.2024
Financial sector entities
76,728
76,728
Non-financial sector entities
31,698
31,698
Total investments in subsidiaries
108,426
108,426
Shares in subsidiaries as at 31 December 2025 and 31 December 2024
31.12.2025
Acquisition cost
of shares
Balance sheet
value
Interest held by
the Bank in the
entity’s equity
Entity’s name
BNP PARIBAS TOWARZYSTWO FUNDUSZY INWESTYCYJNYCH S.A.
36,731
36,731
100%
BNP PARIBAS LEASING SERVICES SP. Z O.O.
39,997
39,997
100%
BNP PARIBAS GROUP SERVICE CENTER S.A.
31,698
31,698
100%
Total
108,426
108,426
The deletion of the company Campus Leszno Sp. z o.o. from the National Court Register (KRS) took effect on 2 July 2025, closing
the company’s liquidation.
31.12.2024
Acquisition cost
of shares
Balance sheet
value
Interest held by
the Bank in the
entity’s equity
Entity’s name
BNP PARIBAS TOWARZYSTWO FUNDUSZY INWESTYCYJNYCH S.A.
36,731
36,731
100%
BNP PARIBAS LEASING SERVICES SP. Z O.O.
39,997
39,997
100%
BNP PARIBAS GROUP SERVICE CENTER S.A.
31,698
31,698
100%
Total
108,426
108,426
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
74
27. INTANGIBLE ASSETS
Intangible assets
31.12.2025
31.12.2024
Licenses
680,689
702,505
Other intangible assets
104,669
96,381
Expenditure on intangible assets
179,866
179,277
Total intangible assets
965,224
978,163
Intangible assets
12 months ended 31.12.2025
Licenses
Other intangible
assets
Expenditure on
intangible assets
Total
Gross book value
As at 1 January 2025
2,185,601
157,874
180,773
2,524,248
Increases:
267,047
41,785
312,825
621,657
reclassification from expenditure
260,875
41,782
-
302,657
purchase
6,172
3
312,339
318,514
other
-
-
486
486
Decreases:
(179,158)
(3,079)
(312,236)
(494,473)
reclassification from expenditure
-
-
(302,657)
(302,657)
sale, liquidation, donation, shortage
(178,541)
(3,079)
-
(181,620)
other
(617)
-
(9,579)
(10,196)
As at 31 December 2025
2,273,490
196,580
181,362
2,651,432
Accumulated amortisation (-)
As at 1 January 2025
1,483,096
61,493
-
1,544,589
Changes:
109,705
30,418
-
140,123
amortisation for the financial year
284,222
33,453
-
317,675
sale, liquidation, donation, shortage
(169,848)
(3,035)
-
(172,883)
other
(4,669)
-
-
(4,669)
As at 31 December 2025
1,592,801
91,911
-
1,684,712
Impairment allowances (-)
As at 1 January 2025
-
-
1,496
1,496
Changes:
-
-
-
-
write-down update
-
-
-
-
As at 31 December 2025
-
-
1,496
1,496
Net book value
As at 1 January 2025
702,505
96,381
179,277
978,163
As at 31 December 2025
680,689
104,669
179,866
965,224
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
75
Intangible assets
12 months ended 31.12.2024
Licenses
Other intangible
assets
Expenditure on
intangible assets
Total
Gross book value
As at 1 January 2024
1,885,998
104,135
215,233
2,205,366
Increases:
313,923
53,739
356,174
723,836
reclassification from expenditure
305,977
53,617
-
359,594
purchase
7,946
122
347,913
355,981
other
-
-
8,261
8,261
Decreases:
(14,320)
-
(390,634)
(404,954)
reclassification from expenditure
-
-
(359,594)
(359,594)
sale, liquidation, donation, shortage
(14,320)
-
-
(14,320)
other
-
-
(31,040)
(31,040)
As at 31 December 2024
2,185,601
157,874
180,773
2,524,248
Accumulated amortisation (-)
As at 1 January 2024
1,224,191
35,801
-
1,259,992
Changes:
258,905
25,692
-
284,597
amortisation for the financial year
273,151
25,692
-
298,843
sale, liquidation, donation, shortage
(13,727)
-
-
(13,727)
other
(519)
-
-
(519)
As at 31 December 2024
1,483,096
61,493
-
1,544,589
Impairment allowances (-)
As at 1 January 2024
-
-
5,292
5,292
Changes:
-
-
(3,796)
(3,796)
write-down update
-
-
(3,796)
(3,796)
As at 31 December 2024
-
-
1,496
1,496
Net book value
As at 1 January 2024
661,807
68,334
209,941
940,082
As at 31 December 2024
702,505
96,381
179,277
978,163
The Bank identifies impairment triggers for intangible assets which are not transferred to utilisation yet, i.e. those under
development, on an ongoing basis.
As at 31 December 2025, the Bank had significant contractual obligations incurred in connection with the acquisition of intangible
assets in the amount of PLN 12,855 thousand (PLN 17,506 thousand as at 31 December 2024).
Expenditures on intangible assets include: licenses, development costs resulting in the creation of new software or modification of
existing software.
As a result of the impairment tests, impairment was identified for the expenditures for which impairment was identified due to
changes in business priorities in the project being conducted.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
76
28. PROPERTY, PLANT AND EQUIPMENT
Property, plant and equipment
31.12.2025
31.12.2024
Fixed assets, including:
404,958
377,613
land and buildings
65,245
71,366
IT equipment
171,035
139,648
office equipment
33,762
35,405
other, including leasehold improvements
134,916
131,194
Fixed assets under construction
38,268
28,006
Right of use, including:
504,209
541,177
land and buildings
475,257
508,655
motor vehicles
28,275
31,317
IT equipment
591
1,084
other, including leasehold improvements
86
121
Total property, plant and equipment
947,435
946,796
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
77
Changes in property, plant and equipment in 2025 and 2024 are presented below:
Property, plant and equipment and fixed assets under construction
12 months ended 31.12.2025
Land and
buildings
Property, plant
and equipment
Fixed assets
under
construction
Total
Gross book value
As at 1 January 2025
170,233
1,035,746
28,061
1,234,040
Increases:
814
162,360
74,557
237,731
reclassification from fixed assets under
construction
662
49,783
-
50,445
purchase
152
72,380
74,557
147,089
other
-
40,197
-
40,197
Decreases:
(8,060)
(151,339)
(64,347)
(223,746)
reclassification from fixed assets under
construction
-
-
(50,445)
(50,445)
sale, liquidation, donation, shortage
(8,060)
(123,180)
-
(131,240)
other
-
(28,159)
(13,902)
(42,061)
As at 31 December 2025
162,987
1,046,767
38,271
1,248,025
Accumulated depreciation (-)
As at 1 January 2025
92,814
728,518
-
821,332
Changes:
(1,015)
(21,807)
-
(22,822)
depreciation for the financial year
3,912
98,653
-
102,565
sale, liquidation, donation, shortage
(4,927)
(120,460)
-
(125,387)
As at 31 December 2025
91,799
706,711
-
798,510
Impairment allowances (-)
As at 1 January 2025
6,053
981
55
7,089
Changes:
(110)
(638)
(52)
(800)
write-down update
(110)
(638)
(52)
(800)
As at 31 December 2025
5,943
343
3
6,289
Net book value
As at 1 January 2025
71,366
306,247
28,006
405,619
As at 31 December 2025
65,245
339,713
38,268
443,226
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
78
Property, plant and equipment and fixed assets under construction
12 months ended 31.12.2024
Land and
buildings
Property, plant
and equipment
Fixed assets
under
construction
Total
Gross book value
As at 1 January 2024
181,276
1,022,323
19,149
1,222,748
Increases:
854
133,631
53,141
187,626
reclassification from fixed assets under
construction
156
31,677
-
31,833
purchase
613
68,243
39,467
108,323
other
85
33,711
13,674
47,470
Decreases:
(11,897)
(120,208)
(44,229)
(176,334)
reclassification from fixed assets under
construction
-
-
(31,833)
(31,833)
sale, liquidation, donation, shortage
(11,897)
(88,737)
-
(100,634)
other
-
(31,471)
(12,396)
(43,867)
As at 31 December 2024
170,233
1,035,746
28,061
1,234,040
Accumulated depreciation (-)
As at 1 January 2024
95,940
714,005
-
809,945
Changes:
(3,126)
14,513
-
11,387
depreciation for the financial year
4,222
100,949
-
105,171
sale, liquidation, donation, shortage
(7,348)
(86,436)
-
(93,784)
other
-
-
-
-
As at 31 December 2024
92,814
728,518
-
821,332
Impairment allowances (-)
As at 1 January 2024
7,344
2,211
145
9,700
Changes:
(1,291)
(1,230)
(90)
(2,611)
write-down update
(1,291)
(1,230)
(90)
(2,611)
As at 31 December 2024
6,053
981
55
7,089
Net book value
As at 1 January 2024
77,992
306,107
19,004
403,103
As at 31 December 2024
71,366
306,247
28,006
405,619
Other increases present acquired and unused tangible fixed assets.
As at 31 December 2025, the Bank had significant contractual obligations incurred in connection with the acquisition of property,
plant and equipment in the amount of PLN 990 thousand (PLN 541 thousand as at 31 December 2024).
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
79
Right of use
12 months ended 31.12.2025
Land and
buildings
Motor vehicles
IT equipment
Other, including
leasehold
improvements
Total
Gross book value
As at 1 January 2025
981,490
58,208
1,974
191
1,041,863
Increases:
109,232
12,025
-
3
121,260
Decreases:
(75,344)
(9,468)
-
(6)
(84,818)
As at 31 December 2025
1,015,378
60,765
1,974
188
1,078,305
Accumulated depreciation (-)
As at 1 January 2025
471,820
26,891
890
70
499,671
Changes:
67,902
5,599
493
32
74,026
depreciation for the financial year
95,833
12,292
493
32
108,650
other
(27,931)
(6,693)
-
-
(34,624)
As at 31 December 2025
539,722
32,490
1,383
102
573,697
Impairment allowances (-)
As at 1 January 2025
1,015
-
-
-
1,015
Changes:
(616)
-
-
-
(616)
recognition of impairment allowance
14
-
-
-
14
reversal of impairment allowance
(630)
-
-
-
(630)
As at 31 December 2025
399
-
-
-
399
Net book value
As at 1 January 2025
508,655
31,317
1,084
121
541,177
As at 31 December 2025
475,257
28,275
591
86
504,209
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
80
Right of use
12 months ended 31.12.2024
Land and
buildings
Motor vehicles
IT equipment
Other, including
leasehold
improvements
Total
Gross book value
As at 1 January 2024
935,428
53,804
1,974
797
992,003
Increases:
154,553
21,723
-
83
176,359
Decreases:
(108,491)
(17,319)
-
(689)
(126,499)
As at 31 December 2024
981,490
58,208
1,974
191
1,041,863
Accumulated depreciation (-)
As at 1 January 2024
409,926
23,397
395
483
434,201
Changes:
61,894
3,494
495
(413)
65,470
depreciation for the financial year
98,301
11,886
495
162
110,844
other
(36,407)
(8,392)
-
(575)
(45,374)
As at 31 December 2024
471,820
26,891
890
70
499,671
Impairment allowances (-)
As at 1 January 2024
1,168
-
-
-
1,168
Changes:
(153)
-
-
-
(153)
recognition of impairment allowance
622
-
-
-
622
reversal of impairment allowance
(775)
-
-
-
(775)
As at 31 December 2024
1,015
-
-
-
1,015
Net book value
As at 1 January 2024
524,334
30,407
1,579
314
556,634
As at 31 December 2024
508,655
31,317
1,084
121
541,177
29. LEASES
Bank as a lessee
The Bank is a contractual party of lease agreements related to such underlying assets as:
● property,
● vehicles,
● land, including perpetual usufruct right to land,
● cash deposit machines,
● equipment,
● IT equipment.
The lease period of vehicles equals 1 to 5 years. Lease agreements contain extension options. In respect of vehicles, the Bank
also concludes leaseback agreements.
The Bank is also a party to real estate lease agreements. The contracts are concluded for both a definite period of 1 to 30 years
and indefinite period. In the case of contracts concluded for an indefinite period, the Bank determines the lease period based on
the notice period. The agreements provide for variable lease fees depending on an index (e.g. GUS, HICP).
The Bank has also land lease agreements concluded for an indefinite period, and perpetual usufruct rights for land received for
the period of 40 to 100 years. Lease payments are indexed in accordance with the land management act.
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
81
12 months
ended 31.12.2025
12 months
ended 31.12.2024
Costs of lease recognised in the statement of profit or loss
(130,870)
(134,589)
cost of interest from lease liabilities
(20,748)
(23,274)
cost of amortisation of assets due to the right of use
(108,650)
(110,844)
costs related to short-term leases (recognised as administrative costs)
(1,472)
(471)
Undiscounted lease payments by maturity
31.12.2025
31.12.2024
up to 1 year
120,111
137,045
from 1 year to 5 years
373,713
404,875
over 5 years
143,146
151,812
Total
636,970
693,732
31.12.2025
31.12.2024
Book value of liabilities due to discounted lease fees
553,267
606,204
Bank as a lessor
Lease contracts under which substantially all the risk and rewards of ownership are transferred to the lessee are classified as
finance leases. The statement of financial position includes the value of receivables equal to the net lease investment. The income
recognition from finance lease agreements reflects the constant periodic rate of return on the net lease investment made by the
Bank under finance leases.
The Bank does not offer operational lease products, i.e. those in which substantially all the risks and rewards of ownership are not
transferred to the lessee.
Finance lease receivables
31.12.2025
31.12.2024
Gross receivables due to finance lease
96,681
163,274
Unrealised financial income
(49)
(11,414)
Present value of minimum lease payments
96,632
151,860
Impairment allowance
(12,952)
(26,971)
Total finance lease receivables
83,680
124,889
Gross finance lease receivables by maturity
31.12.2025
31.12.2024
up to 1 year
20,153
57,553
from year to 5 years
76,528
105,721
Total gross finance lease receivables
96,681
163,274
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
82
30. OTHER ASSETS
Other assets:
31.12.2025
31.12.2024
Receivables from contracts with customers:
sundry debtors
351,839
625,139
accrued income
72,661
95,542
payment card settlements
25,466
27,250
social insurance settlements
301
1,841
Other:
interbank and intersystem settlements
304,470
373,626
deferred expenses
96,864
100,080
tax and other regulatory receivables
30,916
14,178
other lease receivables
770
847
other
66,760
56,617
Total other assets (gross)
950,047
1,295,120
Impairment allowances on other receivables from sundry debtors
(39,390)
(66,953)
Total other assets (net)
910,657
1,228,167
including financial assets*
643,456
961,750
*Financial assets include all items of Other assets except: Accrued income, Deferred expenses, Tax and other regulatory receivables, Other.
31. AMOUNTS DUE TO BANKS
Amounts due to banks
31.12.2025
31.12.2024
Current accounts
508,339
619,766
Interbank deposits
36,257
-
Loans and advances received
4,013,273
4,063,385
Other liabilities
1,365,538
1,074,721
Total amounts due to banks
5,923,407
5,757,872
Also presented under Other liabilities are liabilities to customers from cash collateral in the gross amount of PLN 1,347,782
thousand (PLN 1,038,897 thousand as at 31 December 2024); there were no liabilities from securities sold under repo or sell buy
back agreements as at 31 December 2025 (PLN 23,722 thousand as at 31 December 2024).
In 2025 and 2024, there were no breaches of contractual provisions and covenants related to the Bank’s financial position and
disclosure obligations in financing agreements. As at 31 December 2025, there were no such covenants in the Bank’s financing
agreements.
The gross amount of long-term liabilities due to banks as at 31 December 2025 equals PLN 5,330,935 thousand (PLN 5,102,282
thousand as at 31 December 2024).
SEPARATE FINANCIAL STATEMENTS OF BNP PARIBAS BANK POLSKA S.A. for the year ended 31 December 2025
The bank
for a changing world
83
32. AMOUNTS DUE TO CUSTOMERS
Amounts due to customers
31.12.2025
31.12.2024
Non-bank financial entities
6,727,607
5,463,926
Current accounts
2,930,055
2,592,161
Term deposits
3,331,989