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BNP Paribas Poland reported stable financial performance in its Q3 2025 earnings call, with net profit slightly under PLN 700 million and a return on equity above 18%. The bank’s net interest income faced modest pressure due to a low interest rate environment, but loan volumes grew 2.4% across all segments. Looking ahead, BNP Paribas Poland remains optimistic about Poland’s economic growth prospects and plans to announce a new strategy in December.
Key Takeaways
- Net profit for Q3 2025 was slightly under PLN 700 million.
- Return on equity exceeded 18%.
- Loan volumes increased by 2.4%.
- The bank restarted mortgage lending and expanded investment products.
- A new strategic plan will be unveiled in December.
Company Performance
BNP Paribas Poland demonstrated resilience in Q3 2025, achieving a net profit slightly below PLN 700 million and maintaining a return on equity above 18%. Despite a challenging low interest rate environment, the bank managed to grow its loan volumes by 2.4%. Over the first nine months of the year, the bank’s net profit surpassed PLN 2 billion, reflecting its strong market position and operational efficiency.
Financial Highlights
- Net Profit: Slightly under PLN 700 million
- Return on Equity: Above 18%
- Loan Volumes: Increased by 2.4%
- Net Profit for 9 months: Over PLN 2 billion
Outlook & Guidance
BNP Paribas Poland remains optimistic about Poland’s economic growth, projecting a compound annual growth rate of over 3% through 2030. The bank anticipates continued loan growth and a recovery in fees and commissions. It is also targeting further customer acquisition and product diversification. A new strategy for 2026-2030 will be announced on December 11th, which is expected to outline further growth initiatives.
Executive Commentary
"Poland will continue to grow as an economy. We think in 2025, 2030, the CAGR will be more than 3%," stated a bank executive, emphasizing confidence in the country’s economic trajectory. Another executive highlighted the bank’s commitment to customer engagement: "We want our customers to bank with us through many different segments and products."
Risks and Challenges
- Low interest rate environment may continue to pressure net interest income.
- Economic uncertainties could impact loan growth and customer spending.
- Regulatory changes could affect the bank’s operations and profitability.
- Competition in the banking sector remains intense, requiring continued innovation.
- Global economic conditions may influence local market dynamics.
Q&A
During the Q&A session, executives addressed the restart of mortgage lending following a cautious period and confirmed there are no plans to exit the Polish market. Concerns about lower fees and commissions in Q3 were also discussed, with assurances of a strategic focus on recovery in these areas.
Full transcript - Bnppl (BNP) Q3 2025:
Bank Executive (Likely CEO), BNP Paribas Poland: Good afternoon and welcome to all of you present in big numbers here in the room. Welcome to all the followers who are with us for the third time this year for this conference. I will begin, and then I will turn over to my colleagues whom you all know, I’m sure. Eventually, we will turn over to you and your questions. The agenda for this afternoon is as follows. It is quite standard, so I will not go through the agenda. Let me move on to the highlights. I will start in an unusual fashion. We usually focus on the profits, on the P&L, but now I will start with volumes. As you may recall, we said that we would start growing with loans, which has not always happened, but this is our commitment. Last quarter shows that we actually go full steam ahead.
All the volumes in all the segments have grown by 2.4% across the bank. We will see the breakdown by business line. The growth is interesting and optimistic, we think. We are now enjoying tailwinds. We will see what happens next, but I am smiling not without prejudice. Looking at the P&L, my smile will be less wide. The profits we made have been stable, but below the previous quarters. The profit was affected by weak fees and commissions in the quarter. More on that later. When it comes to net interest income, NII, we reported a modest drop, but it would not have been otherwise due to the low interest rate environment. Our return on equity net is above 18%, including all relevant factors, including CHF loan provisions. The cost-income ratio has remained stable. What is important is that our loan volumes have grown across all segments. We are.
Going in full swing with mortgage loans. We were hardly active in this market before due to political and legal risks, which have fortunately not materialized. We are now very active in this market. My final comment on this slide, something we will definitely come back to later. This is our last—let me put it differently—or maybe not. This is our last conference before we publish our new strategy for 2026-2030. It will be presented on the 11th of December. You are all welcome to take part in this very important event, important to the bank and to the market, I believe. Now, an overview of our pillars. The share of sustainable funding has grown. We are above our current strategic target under the Go Mobile strategy, even though.
Winds keep turning in ESG-related matters. We believe it is our responsibility as a major bank to support the energy transition in Poland and to assist our customers in trying to reduce their carbon intensity. In the up pillar, let me share something I like very much personally, the pupil card for pet owners, which is a product aligned with our values while being attractive to our clients. It has caused a lot of positive reaction in the market and created a good atmosphere around the bank. I do not want you to think I am pursuing my own personal interests, but I love dogs. I have three dogs plus other smaller pets at home, including bowlfish. Now, regarding the stronger pillar, one thing we are particularly proud of, our 2024 annual report has been awarded as the best of the best.
You cannot get any better, although I will insist that my colleague, VP Konieczny, goes even higher, but he may actually crash against the glass ceiling. What I’m saying is that we are trying to communicate with you, the market, in a clear, transparent manner, sharing top-quality materials. Moving on, let’s have a look at the representation of our volumes in figures. I’ve mentioned mortgages. Significant growth there, gigantic year on year, and very solid quarter on quarter. We remain very active in this market. Our machinery is now well-oiled and working in full swing, so I’m very optimistic about this asset class. Another point I’d like to mention is the continued growth in our offering of investment products and a significant year-on-year and quarter-on-quarter increase. Regarding customers, in corporate banking, the chart may not be very clear, but the number of corporate clients increased. The number of.
SME customers dropped modestly, but the portfolio mix is better quality than ever before. Now, let’s have a look at loans. 2.4% growth quarter on quarter, as I mentioned. Regarding retail customers, let me remind you, we’ve had a number of quarters where the volume of retail loans decreased because new production could not catch up with repayments. Now, we have more than a 3% growth quarter on quarter and a significant, decent growth in institutional customer loans. Minor growth in deposits, as I’ve been saying on many previous occasions, and I will repeat once again, we are not in a race to get more deposits than others. We want our deposits to be well-placed, and we want this business to contribute in a good way to our profit and loss account. Looking at the number of customers, one important point, I think.
As I’ve mentioned in previous meetings, this year we’ve been focusing on cleaning up the customer database in retail. This process continues and will go into Q4, but we plan to complete it later this year by having removed those records in our systems that are no longer active. Where any attempts we’ve made to activate them have failed, we will instead focus on customers who are active as well as new customers we are planning to acquire. As I mentioned, the growth in the number of institutional customers, both included the corporate and micro sub-segments. Our net banking income, as you saw in the first slide, dropped year on year and dropped quarter on quarter. This is because of the fees and commissions. More on that later. The cost of risk increased quarter on quarter, but remained low, and the quality of the portfolio remains strong.
We are not expecting any negative change. The net profit, just under PLN 700 million. Smaller than in Q2, much smaller than in Q3 2024. Due to our cost discipline, the operating expenses increased much less than reported by many other banks who have reported Q3 figures. Less than 2% quarter on quarter, even less year on year, which shows that our cost management system is efficient and that the cost discipline remains in place in the bank, that our internal processes help us to effectively avoid redundant spending. Other than critical expenses, we’re looking for savings. We’re looking to optimize, and this will never change. This is our culture as a bank. Cost management is our top priority, and we are working hard to improve our efficiency steadily, as we will discuss when we present our new strategy.
I’ve mentioned the cost-income ratio, a small drop in the net interest margin due to the lower rates, cost of risk after nine months, 16 basis points, despite a much higher cost in Q3. This will be definitely discussed by my colleague later on, but a major part of this growth in Q3 was due to a single major exposure to a client. As you will know from media reports, ROE above 18%. Let me go back now to fees and commissions. As you will see, the NFC dropped. That’s, first of all, due to the fact that there were no major one-offs in Q3, which we typically report during the year. We are looking into this track record. We will definitely be working very hard to make sure that Q3 was one-off in terms of the NFC being so weak on our P&L. I’m not expecting.
Any negative trajectory in the upcoming periods in this regard. Let me hand over to Mr. Dybula, who will discuss the world. Państwu. Good afternoon, ladies and gentlemen. The available data indicates that the third quarter was good for our economy. GDP growth has remained at the level of 3.5% year on year. One thing that has not changed, definitely, are the main growth drivers. It is still the domestic demand, both consumer spending and investment spending. What is important, probably from the perspective of the future and the economic outlook in Poland, is that both consumption and investments seem to become more stable. Consumption is increasingly driven by spending on durable goods. This is important because if this spending is increasing, such growth usually does not end after one or two quarters. The case is similar for investments in the enterprise sector.
We see rather clear growth of outlays on property, plant, and equipment. This is also a reason for optimism in the coming quarters with regard to the economic growth trajectory. One unknown and a factor of concern is still our external environment. The import from EU countries will bear heavy customs fees due to changed US policy. It is clear that the exports to US markets have suffered in the recent months. All that, however, is still compensated by selling foreign goods to European markets and other large economies. Inflation should not hamper the successful development growth in the future. There is no inflationary pressure at this time. This is due to externalities. The raw materials are relatively cheap or getting cheaper. The dollar is weaker, or the zloty is strong. This mitigates the pressure from imported inflation.
The situation is the same in the case of the domestic factor. We can see a clear slowdown of the growth dynamic of wages. This has a positive influence on results. When inflation is lower, interest rates are lower in the third and the fourth quarter. The central bank has continued relaxing monetary policy. I do believe that yesterday’s announcement is not the end yet. Although I do not believe we should expect that at every meeting of the Monetary Policy Council, we will see a decrease in interest rates. The process will probably be more contingent on incoming data. However, I do believe it is not the end yet. We are not yet at the target level of interest rates. Good business dynamics, low interest rates. This is a good time to take a loan. And indeed.
Loans are growing, both in terms of new sales and new volume, and it is growing quite fast. I do believe that in the next months or quarters, this is not going to change in any significant way. As for deposits, we still have a surplus, or the growth dynamics of deposits in the non-financial sector is still faster than the growth rate of loans, but we all know it is related to the fact that we have a strong influx of funds from abroad. The second thing, the budgetary deficit, high budgetary deficit, is financed by national banks. This has an impact on growth of deposits as well, and it is not going to change in the coming quarters. Thank you very much, and now I turn over to the other colleague. Good afternoon, ladies and gentlemen, we’ve already experienced nine months of this year.
Only the last quarter is still ahead of us. As we look at it, we have over PLN 2 billion of net profit for 2025. It is built on robust income from all usual sources, I mean usual for a universal bank. It is supported by a disciplined cost management policy, where year on year, we only noted a very small increase. This puts us way ahead of our players in the market. During those nine months, we have also noted a significant decrease in dynamics of new Swiss franc cases and new litigations. This allows us to create provisions for those cases with less intensity, which does have also an impact on the net result of our bank this year. On the balance sheet side, you can see a rebound, like my colleagues said, with regard to loan activity.
We see an increased scale of lending, and despite the fact that the bank, as was mentioned before, does not conduct very aggressive policy. For receiving client funds, nonetheless, the funds are coming in. Since we offer products for all segments of the market, deposit balances at our bank are increasing as well. They have also increased materially year on year. As for indicators, KPIs, the bank, of course, meets all the standards. After nine months, we have a bit over 18% of return on equity with an interest margin of 3.43. If we focus on the loan portfolio, one important thing that I would like you to remember is that our bank is back on the growth path in practically all the market segments, both in retail banking, based on robust increase in property financing, real estate financing. Also in the area of corporate banking, enterprise banking.
One thing that makes us very happy is that we see growth, like Michal said, both in working capital financing and investment financing. That is always contributing to the stability of the book of loans. As for Swiss francs, if we compare the dynamics of cases in flow and the models that we apply for recognizing trends and creating provisions, you can see that year on year, we have 47% less inflow. This is a very material change. This also helps us to be quite optimistic about the future in terms of provisions in the future periods. We have continued our activity in terms of individual amicable settlements with our clients. As of the end of September, we had over 6,500 such settlements accepted. As for the deposit position of the bank, on one hand, the bank is very careful, very prudent in terms of pricing.
We try to diversify our sources of financing in terms of product segments and prices, while at the same time offering to the clients the opportunity to get better yields by using investment funds. With regard to which we also noted a significant growth. Speaking of investment funds, it is pretty much a stable, permanent growth story. We see growing interest among our clients. On one hand, it is related to seeking more attractive opportunities to invest any financial surplus in the environment of declining interest rates, in expectation of this trend to continue. Our clients prefer debt instrument funds, short and mid-term funds on that market. I am sure we would love to continue with the kind of dynamic that we’ve had so far. Going back to performance, the largest part income from interest, net interest income. We see that despite the going back to.
Growing lending activity, we still see. A pressure. Towards the net interest income coming from declining interest rates. To a large extent, we are able to compensate it by. Income from interest in. Hedge accounting. As well as. The policy. For. Obtaining. Varied sources of financing and looking after margins in that area. We can see a slight declining trend in terms of net interest income. This is because we are at the interest rate decline part of the cycle. Looking forward. And looking at our sensitivity to interest rate changes. We continue to anticipate that the. Interest rates would continue to decline, and our sensitivity is approximately 100 basis points. This is about PLN 180 million. As far as. Income from interest is concerned, we are still rebuilding. Reconstructing that. Stream. Of revenues in the bank and adapting it to the new level of interest rates.
As for fees and commissions, this was not our best quarter with regard to income from fees and commissions. As we analyze the dynamics and the impact of individual constituent parts, we do believe that the main source for that, or the main reason for that situation, was the success of previous quarters. In the previous quarters, the banking activity, especially corporate banking in the large enterprises sector, we had a number of large transactions that were, if I may say so, very calorie high in terms of volume. If such large transactions did not occur in the third quarter, the quarterly dynamic, of course, shows a noticeable decline. As for card operations, it is card transactions. In our bank, this position is also sensitive to clearing streams with Visa and MasterCard. These have different.
Structures in different quarters, and this has overlaid the dynamics that we have noted in the third quarter. As for commercial and investment activity, we have very good dynamics year to year. Also in quarter to quarter. A very similar situation as in revenues from fees and commissions. No recurring major transactions in the third quarter, major volatility of the currency market. For obvious reasons, the clients were less willing to hedge with interest rates in an environment where there is not really much uncertainty with regard to interest rates. Everybody is anticipating they would be declining. For that reason, our quarterly production and this contribution of this source to P&L account was smaller. Nonetheless, please note that year-on-year dynamics is robust, and we still believe that this is a solid contributor to building the bank’s profits. As for the costs, we have already mentioned the cost management discipline.
We definitely look at every PLN we spend from both sides. It does not mean that our bank has suspended investment activity or made any other dramatic moves. No, we do continue. We actually increase our investment activity in certain areas. Even this year, I am sure that you see more. We are more visible in terms of marketing activity, for example. Where we rationalize more is the area of broadly understood external services, advisory services. Those are being reviewed and verified. The entire cost management discipline is not based on one single title. It encompasses multiple other smaller activities that together have an impact on the bank’s costs. LLPs, that is something for Wojciech to discuss, I guess. Good afternoon. Two quarters into the year, our cost of risk in Q3 was very, very limited. Linked only to one of. We set up provisions.
Long ago against potential losses on individual clients once the credit holidays are over and they are repaying their loans once again. These provisions have not materialized, and we do not want to keep holding them, so we have released these provisions. On the other hand, we have set up prudent provisions against the photovoltaic farms as a segment. For the time being, this provision has not materialized in any way. It is just out of being prudent that we have set it up. One other event we have mentioned before, one group of companies in the chemical sector with its project. On the one hand, the capital group, our exposure after restructuring is now very, very limited. It is marginal, I should say, but it is fully covered by provisions. With respect to the project, the provisions were set up.
At a level high enough, there is no need to set up any more. We are not anticipating to set up any additional provisions in the future. Regarding the loan portfolio quality, very stable, around 3%. That is the NPL ratio. Less than PLN 2.8 billion and falling. Restructuring continues successfully across all the segments. I should like to say that, as every year, we do restructure the retail portfolio in Q2 and restructure other portfolios in Q4. We will be selling assets. You do not see that yet in the numbers. With stable quality of the portfolio, with good sales, the NPL portfolio will definitely remain stable in terms of a percentage and the volume. The mix of the portfolio and the stages, these are all very stable. Stage one, stage two, stage three have been stable. Also stable across the segments. That is because we set up the provisions.
The coverage ratio has thus increased. With sales in the next quarter, the coverage may fall because we are always selling impaired loans with the biggest coverage with provisions. I am expecting continued stability in this regard. Thank you. Now, let’s turn to the capital position of the bank. I would like to point out two or three highlights as a result of our efforts to strengthen the portfolio of equity instruments, including tier two. We are working on this portfolio regularly to protect its size and cost levels. Our dividend policy, which we have pursued, where the profits are shared with our investors while also at the same time improving our capital position. With all that, the bank’s capital position is robust and complies with all the regulatory requirements. Most importantly, perhaps, it positions the bank to further grow its commercial banking, its lending.
We have all the necessary resources to grow and to prepare for absorption of new good business. That is all from me. Thank you. Thank you very much. As usual, the final slide in this presentation. We look forward with optimism because we are optimistic. It looks likely that Poland will continue to grow as an economy. We think in 2025, 2030, the CAGR will be more than 3%. If Poland actually becomes one of the top 20 economies in the world, you can talk about an economic miracle. I think it is thanks to the very hard efforts of all of us: entrepreneurs, managers, employees. Despite headwinds and obstacles, the rates have been falling, and then they will continue to grow. We have to adapt to this environment, and we will. As regards the challenges ahead, what is of special concern is that yet once again we are facing.
Political interventions. On the part of the government and hence parliament. I have been vocal about it. I have published on this topic. I’ve been saying that an increased corporate income tax for a single industry to be maintained higher forever is unfair, inappropriate, most likely also, and this is something the Polish Banks Association have said, unconstitutional. I’m very sorry to say that whoever is in power, they don’t understand that Poland needs an efficient, growing, technologically and intellectually advanced banking industry to be protected, definitely not to be interfered with by means of asymmetric interventions. This is a classical example where short-term interests in view of the public deficit are given preference over harmonious development of the Polish economy. I regret that very much. When I look at Q3, and I’m not going back to the fees and commissions now, I’m very happy that.
Our volumes have budged and that we are now growing with wins in our sales. What I haven’t been quite clear about is that in addition to corporate and micro customers, we can see an increase in the database of our wealthy customers and wealth management and private banking, where relationships with individual customers are very, very close and strong, which is in line with our strategy. I’m happy to say that we come up with avenue ideas to support the acquisition of new clients and that the acquisition with a capital A will continue for many more quarters to come. We want to grow. We want our customers to bank with us through many different segments and products. We believe that NFC will be back on track. With the help of the market, the trading income should also be back on track because it’s down across the market.
Our market share is very much like 20% of the market. A big market share, but unfavorable, inauspicious market conditions. I’m optimistic about the future, though. Our priorities are acquisition, more active lending, reflecting on volumes, better efficiency, better processes. We are always working to improve our processes. We want our customers to have a smooth, positive, unhindered experience with our bank, something we are working on very hard. Intensity is something we are saying again and again. We will share more details on the 11th of December. You are welcome to attend our event. Now, we are ready to take your questions in the Q&A. Somewhere at the end of this presentation, we have a slide for that, I’m sure. Here we are. Let’s open the Q&A officially now. Do we have any questions in the room? Kamil Stolarski, Santander Bank.
I must say I’m very happy that the bank is growing again. It’s one of the questions I heard a lot as an analyst. Why is BNP not growing? Now you are selling again. Selling mortgages after three years. As Mr. Gdański said, you were not very active. Could you comment why for such a long period of time your bank refrained from selling and now you are very busy? That’s my first question. Number two, when you published your last strategy three years ago, your bank was in full swing. Then a few quarters later, the sales were put on hold, in fact. My question is about the strategy. When you publish your new strategy in December, is it important or is it just words on paper? No, no, no, no. Thank you for both your questions. Let me take your first question.
First, if you put it to us first, it might be easier to forget as we speak. Now, at some point, we made a decision to sharply reduce the sales of mortgage loans. We said we limit ourselves to selling to our existing customers and selling green mortgages. That was because of the credit holidays and our concerns, unjustified as it were, that any continued assistance to mortgage borrowers, unjustified as it were, would continue. The credit holidays were extended. We were right, although the scale and the size of that program was reduced. I do not know if it is political of me to say so, but we were trying to protest. You cannot do that, we thought. The first credit holiday program was scandalous, was unnecessary, very expensive, very frustrating, unheard of in other European countries. We decided.
We do not want to increase the risk of having to face the same story later in the future. We understand that a mortgage loan is a core product for a retail bank. At some point in time, we decided, okay, it seems nothing as painful will happen to us again. Let’s go back to that market. Let’s oil the machinery. Let’s start the production. Our factory is now turning out that product in full swing. We are not going to slow down, I think, even though the risk of interventions going against our sector is still high, as reflected in the higher CIT story. The strategy. We announced our strategy in early 2021. It was developed in late 2020. The war in Ukraine broke out. Am I correct? Are these the correct dates or not? Correct me if I am wrong. Early 2022, that is what I meant.
I remember. We had the long debate in the management board whether we should publish our strategy now that the war in Ukraine broke out, or should we correct it? We published the original strategy. We set a number of strategic objectives in the strategy, which we are now either delivering or exceeding. The strategy directed our efforts. It set out directions for our growth over the years. For us, a strategy is a fundamental document, which defines our investment decisions, the targets for the managers and the management board of the bank. It talks about what is really important, the directions we want to go. Clearly, this is also true of the strategy we will publish on December 11th. The fact is the world keeps changing incredibly fast. There are lots of interesting papers deliberating whether midterm strategies make sense anymore.
Maybe we should just be focusing on tactical day-to-day management. I think you cannot go in the right direction unless you have a clear direction to go and a clear reading of how much you’ve covered and where your destination is. This strategy will be very important for us. As you definitely know, we have been working on the strategy together with our Supervisory Board. We hope it will be subject to corporate approvals the day before the publication. It is a serious document that we take very seriously. Thank you very much. Follow-up question. I have other questions as well. I don’t know if I may ask them. Maybe one question regarding this quarter. The fees, commissions, and FX. You are the last bank to report before Handlover, and you have reported that you have less the corporate business that has an impact on lower.
Fees and loan. You said there was a trend to take CIB clients from other banks. Has a client left you and you had to account for it? Or what is happening? Let us answer collectively. As for FX, the entire market has slumped. I have recently presented a comparative analysis. We do prepare a benchmark analysis looking at not all, but the ones that are particularly relevant to us, the banks that are particularly relevant to us. Except for one that started at a very low base, all of them have noted a slump in FX performance. That is one thing. The other thing is that this year we had a one-off transaction, very high in volume and very complex. It supported our result in this position to the tune of tens of millions.
None of our clients left, but our baseline was very, very high. This declined. FX performance stems from absence of one-off, the high volatility, and the fact that the clients are convinced that the only way for interest rates to go is down. Hence, volatility is close to zero. This is the situation. As for fees, I would like to give the floor to Mr. President. In case of fees, as I tried to explain, we are dealing with a very similar phenomenon, the recurrent business. If you look at our quarterly flow, we have a normal quarter without one-offs. Since in the first and second quarter, we had, on one hand, support in card area, Mastercard clearing. We usually clear this kind of support in the first quarter of the year, and that is why the first quarter is always higher.
On the other hand, we had those transactions that Mr. President has mentioned. They do have a fee component or a commission component. Large transactions by large corporations have significantly increased the baseline, especially for the second quarter. In Q3, we did not have such windfalls, such major transactions. We have returned to the standard level. Thank you very much for your comment. The final question is about the strategy. Since this topic resonates, I would like to ask this question. The BNP is working on strategy as a group, I believe, and some other changes were announced. Probably the BNP is considering its group as a whole. Have you heard any information that BNP Paribas Poland would be considered non-core? Let me answer this question. We are a little bit out of phase in terms of working on strategy.
The strategy for the entire group will be announced at the beginning of 2027. In the meantime, the areas which, either like us, are at the end of their previous strategy or need to change the strategy, are developing their strategies, like Ashmesh in France. We were not given to understand anything like that, like what you suggested. If we look at what the BNP Paribas Group is saying, we are a European leader. We are the largest banking group in the European Union. Poland is the sixth-largest economy in the EU and the fastest-growing market in the EU. It would be difficult to imagine continuing the European strategy and exiting such a significant market. Another element we are not mentioning is that since these are our sister operations, in Poland, we have a number of companies.
Belonging to the group, Arval, number one in the market. A factoring company, Cardiff, insurance business. Shared services centers, a number of those. In these areas, new competence centers, IT hubs are being created. The business of a number of those companies is very strongly correlated with the bank. For Cardiff, we are the main distribution channel for the insurance products. We sell to our clients the services of long-term lease provided by Arval. Factoring, this is obvious in a corporate world of SMEs. We have this woven basket of businesses that keeps growing the economy. I am definitely not concerned that we would find ourselves outside of the Paribas Group, within which we are very comfortable. Are there any more questions in the room? Good afternoon, Andrzej Powierza, Citi Handlowy, Brokerage Office. A detailed question. May I ask you for an estimate?
What percentage of personnel costs are the costs of IT personnel? I esteem you very highly. I’m talking off the top of my head, so the estimate is very, very rough. It is something between 13% and 15%. I don’t know what was the background of your question, but we are managing personnel costs very proactively as well, and we intend to continue in this manner. Have we got any questions in the room, or shall we move on to questions online? Let us move on to questions online then. Mr. Tadeuszak, what was the number of disputes in the third quarter with regard to unauthorized transactions? Let me answer this question indirectly. The bank is a party to a procedure with the Office for Competition and Consumers. We are in a dialogue for resolving the unauthorized transactions, both historically and in the future.
This year, we have established a total of approximately PLN 49 million worth of provisions. This has not changed. I think I would stop at that. I do believe that the dialogue that ourselves and other banks have with the Office for Competition and Consumer Protection will eventually deliver a solution. Another question, subjectively about finance. Are you expecting a major or even minor war in terms of loan margins at the mortgage market? They are very high despite the demand for loans. Will BNP Paribas enthusiastically offer loans based on floating rate, or will you remain with a fixed rate? Everything we do, we do enthusiastically. Let me start from the end of your question. Nonetheless, we do believe that the loan that is fixed rate or at least periodically fixed rate is something that we should focus on. While.
Pollster, which is not easy to pronounce, we will continue to adopt it in line with market trends. Price war on mortgages, I would not expect one. We are talking about creating very long-term assets. The impact of a margin over such a long term is very important. I assume that the market will behave rationally. The demand is high, the supply is high as well. I do believe that the market will develop a balance that will be acceptable, both for our dear borrowers and reasonable for lenders. A question from Trigon. Is the bank planning any legal action with regard to unconstitutionality of CIT increase together or with Banks Association? The bank has spoken out on it via various publications and speeches. We talked about how unfair it was to increase the CIT for banking sector only.
We suggested that in other countries, a different type of solidarity solution was implemented. This remained without reactions. The Polish Banks Association, of which we, of course, are a member, is very active in this area. As for legal matters and unconstitutionality, we do not consider individual action on this matter. We assume that potentially such actions will be undertaken on behalf of the sector by the Polish Banks Association. Thank you very much. Those are all the questions. If there are no more questions, thank you very much. Thank you, ladies and gentlemen, for coming here in numbers. Thank you to all those who found the time to join us over the internet. Once again, let me invite you to join us on December 11th. Have a good rest of the day and good rest of the quarter. Thank you for your attention.
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