Bank Handlowy w Warszawie SA (BHW) - Net Assets

Latest as of March 2026: zł10.08 Billion PLN ≈ $2.78 Billion USD

Based on the latest financial reports, Bank Handlowy w Warszawie SA (BHW) has net assets worth zł10.08 Billion PLN (≈ $2.78 Billion USD) as of March 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (zł88.23 Billion ≈ $24.28 Billion USD) and total liabilities (zł78.15 Billion ≈ $21.51 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check Bank Handlowy w Warszawie SA (BHW) tangible net worth to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	zł10.08 Billion
% of Total Assets	11.43%
Annual Growth Rate	2.29%
5-Year Change	36.01%
10-Year Change	47.89%
Growth Volatility	6.67

Bank Handlowy w Warszawie SA - Net Assets Trend (2004–2025)

This chart illustrates how Bank Handlowy w Warszawie SA's net assets have evolved over time, based on quarterly financial data. See BHW defensive asset coverage days to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Bank Handlowy w Warszawie SA (2004–2025)

The table below shows the annual net assets of Bank Handlowy w Warszawie SA from 2004 to 2025. For live valuation and market cap data, see Bank Handlowy w Warszawie SA market capitalisation.

Year	Net Assets	Change
2025-12-31	zł10.04 Billion ≈ $2.76 Billion	+1.76%
2024-12-31	zł9.87 Billion ≈ $2.72 Billion	+10.75%
2023-12-31	zł8.91 Billion ≈ $2.45 Billion	+11.94%
2022-12-31	zł7.96 Billion ≈ $2.19 Billion	+7.81%
2021-12-31	zł7.38 Billion ≈ $2.03 Billion	-2.61%
2020-12-31	zł7.58 Billion ≈ $2.09 Billion	+7.16%
2019-12-31	zł7.07 Billion ≈ $1.95 Billion	+0.25%
2018-12-31	zł7.06 Billion ≈ $1.94 Billion	+1.70%
2017-12-31	zł6.94 Billion ≈ $1.91 Billion	+2.19%
2016-12-31	zł6.79 Billion ≈ $1.87 Billion	-0.88%
2015-12-31	zł6.85 Billion ≈ $1.89 Billion	-7.56%
2014-12-31	zł7.41 Billion ≈ $2.04 Billion	+1.42%
2013-12-31	zł7.31 Billion ≈ $2.01 Billion	-1.14%
2012-12-31	zł7.39 Billion ≈ $2.03 Billion	+14.69%
2011-12-31	zł6.44 Billion ≈ $1.77 Billion	-0.75%
2010-12-31	zł6.49 Billion ≈ $1.79 Billion	+4.74%
2009-12-31	zł6.20 Billion ≈ $1.71 Billion	+10.20%
2008-12-31	zł5.63 Billion ≈ $1.55 Billion	+0.41%
2007-12-31	zł5.60 Billion ≈ $1.54 Billion	+3.42%
2006-12-31	zł5.42 Billion ≈ $1.49 Billion	+3.22%
2005-12-31	zł5.25 Billion ≈ $1.44 Billion	-15.87%
2004-12-31	zł6.24 Billion ≈ $1.72 Billion	--

Equity Component Analysis

This analysis shows how different components contribute to Bank Handlowy w Warszawie SA's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 219.9% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	zł1.65 Billion	16.48%
Other Components	zł8.39 Billion	83.52%
Total Equity	zł10.04 Billion	100.00%

Bank Handlowy w Warszawie SA Competitors by Market Cap

The table below lists competitors of Bank Handlowy w Warszawie SA ranked by their market capitalization.

Company	Market Cap
Hongta Securities Co Ltd SHG:601236	$4.78 Billion
Shenzhen Huaqiang Industry Co Ltd SHE:000062	$4.78 Billion
CompoSecure, Inc. NYSE:CMPO	$4.78 Billion
SGHC Limited NYSE:SGHC	$4.79 Billion
Beijing Vantone Real Estate Co Ltd SHG:600246	$4.77 Billion
Hess Midstream Partners LP NYSE:HESM	$4.77 Billion
Ufp Industries Inc NASDAQ:UFPI	$4.77 Billion
Sichuan Changhong Electric Co Ltd SHG:600839	$4.77 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Bank Handlowy w Warszawie SA's equity between the two most recent reporting periods.

Equity Growth Insights

From 2024 to 2025, total equity changed from 9,868,531,000 to 10,042,307,000, a change of 173,776,000 (1.8%).
Net income of 1,666,344,000 contributed positively to equity growth.
Dividend payments of 1,791,328,000 reduced retained earnings.
Share repurchases of 16,667,000 reduced equity.
Other factors increased equity by 315,427,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	zł1.67 Billion	+16.59%
Dividends Paid	zł1.79 Billion	-17.84%
Share Repurchases	zł16.67 Million	-0.17%
Other Changes	zł315.43 Million	+3.14%
Total Change	zł-	1.76%

Book Value vs Market Value Analysis

This analysis compares Bank Handlowy w Warszawie SA's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 1.73x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has decreased from 2.79x to 1.73x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2004-12-31	zł47.75	zł133.00	x
2005-12-31	zł40.17	zł133.00	x
2006-12-31	zł41.47	zł133.00	x
2007-12-31	zł42.88	zł133.00	x
2008-12-31	zł43.06	zł133.00	x
2009-12-31	zł47.45	zł133.00	x
2010-12-31	zł49.69	zł133.00	x
2011-12-31	zł49.32	zł133.00	x
2012-12-31	zł56.57	zł133.00	x
2013-12-31	zł55.93	zł133.00	x
2014-12-31	zł56.72	zł133.00	x
2015-12-31	zł52.43	zł133.00	x
2016-12-31	zł51.97	zł133.00	x
2017-12-31	zł53.11	zł133.00	x
2018-12-31	zł54.01	zł133.00	x
2019-12-31	zł54.15	zł133.00	x
2020-12-31	zł58.02	zł133.00	x
2021-12-31	zł56.51	zł133.00	x
2022-12-31	zł60.92	zł133.00	x
2023-12-31	zł74.46	zł133.00	x
2024-12-31	zł75.63	zł133.00	x
2025-12-31	zł77.02	zł133.00	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Bank Handlowy w Warszawie SA utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 16.59%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 53.45%
• Asset Turnover: 0.04x
• Equity Multiplier: 7.85x
Recent ROE (16.59%) is above the historical average (11.74%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2004	7.93%	16.75%	0.09x	5.46x	zł-128.91 Million
2005	11.78%	26.14%	0.07x	6.26x	zł93.24 Million
2006	12.13%	28.04%	0.07x	6.64x	zł115.28 Million
2007	14.71%	32.26%	0.07x	6.94x	zł263.91 Million
2008	10.67%	24.63%	0.06x	7.56x	zł37.85 Million
2009	8.14%	19.15%	0.07x	6.07x	zł-115.54 Million
2010	11.63%	28.66%	0.07x	5.78x	zł105.52 Million
2011	11.43%	29.88%	0.06x	6.56x	zł91.96 Million
2012	13.13%	34.80%	0.06x	5.89x	zł230.99 Million
2013	13.31%	37.00%	0.06x	6.21x	zł241.98 Million
2014	12.78%	38.30%	0.05x	6.73x	zł206.24 Million
2015	9.14%	29.37%	0.04x	7.23x	zł-58.65 Million
2016	8.86%	28.19%	0.05x	6.66x	zł-77.47 Million
2017	7.72%	25.39%	0.05x	6.20x	zł-158.32 Million
2018	9.05%	29.17%	0.04x	6.99x	zł-66.82 Million
2019	6.79%	21.38%	0.04x	7.35x	zł-227.34 Million
2020	2.27%	8.13%	0.03x	8.04x	zł-585.70 Million
2021	9.72%	29.33%	0.04x	8.38x	zł-20.87 Million
2022	19.42%	43.37%	0.05x	8.77x	zł749.66 Million
2023	23.19%	50.04%	0.06x	7.46x	zł1.28 Billion
2024	17.84%	39.19%	0.06x	7.34x	zł773.60 Million
2025	16.59%	53.45%	0.04x	7.85x	zł662.11 Million

Industry Comparison

This section compares Bank Handlowy w Warszawie SA's net assets metrics with peer companies in the Banks - Regional industry.

Industry Context

Industry: Banks - Regional
Average net assets among peers: $9,383,500,236
Average return on equity (ROE) among peers: 10.38%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Bank Handlowy w Warszawie SA (BHW)	zł10.08 Billion	7.93%	7.75x	$4.77 Billion
BNP Paribas Bank Polska S.A. (BNP)	$12.03 Billion	6.09%	8.94x	$6.43 Billion
Bank Ochrony Środowiska SA (BOS)	$1.47 Billion	-3.48%	13.25x	$257.24 Million
Erste Bank Polska S.A. (EBP)	$4.03 Billion	18.83%	7.19x	$18.14 Billion
Getin Holding SA (GTN)	$997.55 Million	10.16%	21.98x	$25.07 Million
ING Bank Śląski SA (ING)	$4.89 Billion	12.18%	11.25x	$16.95 Billion
mBank SA (MBK)	$17.77 Billion	12.63%	12.84x	$17.05 Billion
Bank Millennium S.A. (MIL)	$4.59 Billion	10.17%	10.08x	$6.97 Billion
Bank Polska Kasa Opieki SA (PEO)	$8.42 Billion	18.26%	6.36x	$16.81 Billion
Powszechna Kasa Oszczednosci Bank Polski SA (PKO)	$30.26 Billion	8.62%	7.82x	$36.42 Billion

About Bank Handlowy w Warszawie SA

WAR:BHW Poland Banks - Regional

Market Cap

$4.77 Billion

zł17.34 Billion PLN

Market Cap Rank

#3730 Global

#23 in Poland

Share Price

zł133.00

Change (1 day)

+2.78%

52-Week Range

zł100.80 - zł133.00

All Time High

zł133.00