What happened? After politician comments and press reports over the past few days and weeks, Poland''s Finance Ministry has announced plans to increase corporate tax for banks. BNPP Exane View: According to initial reports, the Polish Finance Ministry plans: . To set the corporate tax rate for banks at 30% in 2026, 26% in 2027, and 23% in 2028 versus 19% currently ... implying a 14%/9%/5% reduction in post-tax profits over those 3 years. . To cut bank asset tax by 10% in 2027 and 20% in 2028 to increase availability of loans. . And they say they are not currently working on the previously considered solution related to the taxation of mandatory reserves held at the National Bank of Poland. There are a number of European banks for which Poland is a material proportion of group earnings, including Erste Bank (we estimate c23% of 2027E), BCP Millennium (22%), and Commerzbank (19%).