High performance combined with efficiency enabled Slovenská sporiteľňa to make a strong start to 2026
“We got off to a very strong start in 2026, demonstrating the robustness of our long‑term strategy. Operating profit as well as net profit grew by more than 20 percent, driven by our strong performance across key business areas. We recorded higher income from insurance and investments, supported by an increased volume of client transactions. The main driver, however, was lending, with the loan portfolio growing year on year by EUR 1.3 billion. In the first quarter, mortgage rates were still declining, which people used to pursue their housing dreams, and loans to corporate clients also recorded solid growth. At the same time, we managed to remain cost‑efficient, as our costs increased by four percent and the cost‑to‑income ratio fell below 40 percent. The Best Bank award from Global Finance further confirmed that our long‑term transformation is delivering tangible result,” says Michaela Bauer, CEO and Chairwoman of the Board of Directors of Slovenská sporiteľňa.
Financial highlights as of 31 March 2026 (Y/Y comparison)
Consolidated audited business results of Slovenská sporiteľňa as of 31 March 2026 according to International Financial Reporting Standards (IFRS)).
- Net interest income went up by 14.5% from EUR 151.5 mil. to EUR 173.4 mil.
- Net fee and commission income increased by 12.3% from EUR 58.9 mil. to EUR 66.1 mil.
- Operating profit went up by 22.9% from EUR 123.2 mil. to EUR 151.5 mil.
- Net profit after tax reached EUR 87.7 mil. (2025: EUR 68.5 mil.)
- Volume of loans and advances to customers grew by 6.7% from EUR 19.1 billion to EUR 20.4 billion
- Deposits from customers increased by 3.5% from EUR 18.8 billion to EUR 19.4 billion
- Cost income ratio went down from 43.3% and reached 39.3%
- Capital adequacy reached 20.9% and considerably exceeds the limit stipulated by law (according to CRR 3 and Act on Banks)
- Loans to deposits ratio went up from 101.9% to 105.0%
Business performance overview of Slovenská sporiteľňa as of 31 March 2026
Net interest income went up by 14.5% y/y from EUR 151.5 million to EUR 173.4 million. The increase in net interest income was primarily driven by the growing loan portfolio, mainly housing loans in thevretail segment and effective management and structure of passive products.
Net fee and commission income increased by 12.3% y/y from EUR 58.9 million to EUR 66.1 million. This growth was mainly driven by income from insurance commissions; income related to investments and income from payments related to the increased number of payment transactions.
The bank recorded a net trading profit of EUR 6.1 million (it was EUR 5.2 million in 2025) which is mainly attributable to derivative transactions.
Operating expenses went up by 4.3% y/y to EUR 98 million (in 2025 it was EUR 94 million). Personal expenses increased by 6.1% y/y mainly because of wage growth. Other administrative expenses grew by 3.4% mainly due to higher contribution into the Deposit Protection Fund compared with last year.
Operating profit went up by EUR 28.2 million, accounting for an increase of 22.9% y/y. Cost income ratio decreased considerably from 43.3% to 39.3% compared with last year.
The bank recorded a net impairment loss from financial instruments in the amount of EUR 23 million in 2026, compared to a loss of EUR 20.4 million in 2025. The share of non-performing loans on total loan volume went up from 2.0% to 2.3% y/y, while their coverage with provisions decreased from 93.1% to 79.5%.
The volume of loans products to customers (including loans, leasing and factoring) increased by 6.7% y/y and achieved EUR 21 billion. Retail loans grew by 7.4% (EUR 1.0 billion) y/y. Housing loans grew by 8.4% (EUR 0.9 billion in absolute terms) y/y and consumer loans went up by 0.9% (EUR 20 million) y/y. Slovenská sporiteľňa again confirmed its position as market leader in retail loans; its market share reached 24.5% at the end of Februar 2026.
Loans to corporate clients (including factoring and leasing products) increased by 5.4% y/y (by EUR 400 million) and reached EUR 7.2 billion.
Deposits from customers rose from EUR 18.8 billion to EUR 19.4 billion compared with the year 2025.
Current ratings of Slovenská sporiteľňa (as of 31 March 2026)
Slovenská sporiteľňa – Kontakt pre médiá:
Marta Cesnaková; tel.: +421 2 48 62 43 60; cesnakova.marta@slsp.sk
Erste Group – Public Relations:
Margarita Thiel; tel,: +43 501 00 61 3425; margarita.thiel@erstegroup.com
Erste Group – Investor Relations:
Thomas Sommerauer; tel.: +43 501 00 17 326; thomas.sommerauer@erstegroup.com