Erste Group stock raises 2026 targets as Poland expansion advances

Erste Group raised several 2026 targets after reporting stronger customer business for the first nine months of 2026, according to the company's announcement of October 30. The Austrian lender lifted its lending target above 290 billion euros, while also upgrading its outlook for net interest income and fee income excluding Erste Bank Polska.

Erste Group stock traded at 118.70 euros on Lang & Schwarz at 10:59 CET on Tuesday, November 10, 2026.

Customer Growth Supports Higher Targets

Including Erste Bank Polska, customer loans increased 23.9 percent to 287.4 billion euros by the end of September. Deposits rose 28.1 percent to 324.1 billion euros, reaching 324.1 billion euros. On a comparable basis excluding Poland, loans grew 5.8 percent and deposits increased 4.5 percent.

Net interest income rose 43.4 percent year on year to 8.3 billion euros including the Polish business. Net fee and commission income increased 24.0 percent to 2.9 billion euros. The company said operating income grew 40.1 percent to 12.0 billion euros, while the cost/income ratio improved to 44.0 percent from 47.4 percent.

Reported net profit climbed 20.6 percent to 3.1 billion euros in the first nine months. Return on tangible equity reached 20.9 percent, compared with 16.8 percent a year earlier. The comparison includes the first-time consolidation of Erste Bank Polska and related integration effects.

Poland Shapes The 2026 Outlook

Erste Group now expects net interest income excluding Erste Bank Polska to grow by more than 6 percent in 2026, compared with about 5 percent previously. Fee and commission income excluding Poland is projected to increase by around 10 percent, up from the earlier range of 7 to 9 percent. The comparable cost/income ratio is expected to fall below 46 percent, versus below 47 percent previously.

The company also projects net customer loans above 290 billion euros for the combined group. Reported net profit is expected to exceed 4 billion euros, while return on tangible equity should remain above 20 percent. Management's outlook includes integration costs and other extraordinary effects linked to the Polish business.

Erste Group said it had received regulatory approval for a voluntary tender offer for shares in Erste Bank Polska. The offer is intended to increase its stake from 49 percent to more than 50 percent without exceeding 75 percent, preserving a free float of at least 25 percent. The subscription period was scheduled to start on November 3, with settlement anticipated in December, subject to sufficient participation and other conditions.

Chief Executive Peter Bosek said the group's ambition to expand its loan book reflected confidence in Central Europe's growth potential. Chief Financial Officer Stefan Dörfler said the operating performance strengthened the group's earnings and capital position, creating flexibility for growth opportunities across its core markets.

Integration And Investor Focus

The Polish unit contributed materially to the headline increase in loans, deposits and revenue. At the same time, Erste Group reported a 302 million euro one-off IFRS 9 effect connected with the integration in the first quarter and said banking levies increased significantly year on year. The NPL ratio stood at 2.3 percent at the end of September, compared with 2.4 percent at the end of 2025.

For investors, the central issue is whether Poland's enlarged customer base can sustain revenue growth after the initial consolidation effects fade. The next major milestones are the outcome of the tender offer, the December settlement timetable and the group's full-year 2026 results.

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