XTB Stock Rises 6.5% as Polish Broker Tops 1 Million Accounts, Starts Buyback
Shares in
XTB rose 6.57% to PLN 107.12 today (Monday), the broker’s strongest single
session since January 30, after two announcements landed on the same day: the
launch of a PLN 10.66 million share repurchase program and confirmation that
the company has become the first Polish broker to cross 1 million domestic
accounts.
Singapore Summit: Meet the largest
APAC brokers you know (and those you still don’t!)
The rally
lifts XTB’s year-to-date gain to roughly 49%, outpacing most listed retail
brokers. eToro is up about 10% over the same period and CMC Markets has added
29%, while Robinhood has dropped about 29% as the gap between listed CFD names
continues to widen.
The Buyback: PLN 10.66
Million for Employee Incentives
XTB plans
to buy up to 76,152 of its own shares between May 11 and September 30, 2026,
with total spending capped at PLN 10.66 million (about $2.7 million) and a
per-share price range of PLN 50 to PLN 140, according to a regulatory filing.
Trigon Dom
Maklerski will execute the trades on the Warsaw Stock Exchange , including
through block transactions.
The shares
are earmarked for XTB’s existing employee incentive program rather than capital
return to shareholders. Equity markets typically read buyback announcements as
a vote of confidence by management, particularly when the upper price set in
the program sits well above the current share price.
Monday’s
PLN 107.12 close is still PLN 33 below the program’s PLN 140 ceiling.
The program
is small compared with capital return schemes at western-listed CFD peers. IG Group launched its fourth £125
million buyback in under two years on April 1, while Plus500 began a fresh $100 million
repurchase in February.
Both
companies use buybacks primarily to reduce share capital. Robinhood, by
contrast, announced a $1.5 billion repurchase plan in March as its US-listed
stock slumped.
A Million Polish Accounts,
37% of the Market
The second
piece of news came from the Polish Central Securities Depository (KDPW), which
reported that XTB ended April 2026 with 1,039,514 accounts holding access to
the Polish market.
The figure
makes XTB the first broker in the country to cross the 1 million mark, an
outcome closely tracked by FinanceMagnates.com
over recent months.
XTB added
47,723 accounts in April alone and 547,809 over the previous 12 months.
The broker
now holds 37.2% of the 2,797,076 brokerage accounts registered in Poland, more
than double the share of second-placed mBank, which finished the month with
555,610 accounts across its brokerage and eMakler units.
Omar Arnaout, the CEO of XTB
“This
is a huge success, both for us and for the entire Polish financial
industry,” XTB Chief Executive Omar Arnaout said in a statement. “We
are not slowing down, we are developing our offer, supporting beginner and
experienced investors… to be the first choice among investment apps not only
in Poland, but across all of Europe.”
Competitive Pressure From
Trade Republic and Revolut
The
milestone arrives in the middle of an intensifying retail price war in Poland.
German neobroker Trade Republic entered the country
in September 2025
with a 4.25% savings rate and a flat PLN 4 trading fee, triggering commission
cuts at mBank and DM BOŚ on ETF trading within tax-advantaged retirement
accounts.
Trade
Republic does not yet appear in KDPW data because its Polish accounts are
booked in Lithuania, but Polish press reports place Revolut’s local Invest user
count at around 590,000, just behind XTB’s KDPW tally on a comparable basis.
XTB has
responded with heavier marketing spending, with the 2025 marketing bill
climbing close to 70% to PLN 584.9 million and management guiding for a further
40% to 50% rise in 2026.
Earnings and Dividend
Backdrop
The buyback
and account record both land against unusually strong earnings. XTB ended 2025
with revenue of PLN 2.15 billion and net profit of PLN 643.8 million, with preliminary first-quarter 2026
results showing net profit of PLN 535 million, up 176% year-on-year on operating income of
PLN 1.09 billion.
Noble
Securities analysts have flagged a full-year 2026 net profit run-rate of around
PLN 1 billion.
Shareholders
will also collect a PLN 4.07 per-share dividend from 2025 earnings on June 24,
with June 11 the last day to buy shares carrying entitlement.
Shares in
XTB rose 6.57% to PLN 107.12 today (Monday), the broker’s strongest single
session since January 30, after two announcements landed on the same day: the
launch of a PLN 10.66 million share repurchase program and confirmation that
the company has become the first Polish broker to cross 1 million domestic
accounts.
Singapore Summit: Meet the largest
APAC brokers you know (and those you still don’t!)
The rally
lifts XTB’s year-to-date gain to roughly 49%, outpacing most listed retail
brokers. eToro is up about 10% over the same period and CMC Markets has added
29%, while Robinhood has dropped about 29% as the gap between listed CFD names
continues to widen.
The Buyback: PLN 10.66
Million for Employee Incentives
XTB plans
to buy up to 76,152 of its own shares between May 11 and September 30, 2026,
with total spending capped at PLN 10.66 million (about $2.7 million) and a
per-share price range of PLN 50 to PLN 140, according to a regulatory filing.
Trigon Dom
Maklerski will execute the trades on the Warsaw Stock Exchange , including
through block transactions.
The shares
are earmarked for XTB’s existing employee incentive program rather than capital
return to shareholders. Equity markets typically read buyback announcements as
a vote of confidence by management, particularly when the upper price set in
the program sits well above the current share price.
Monday’s
PLN 107.12 close is still PLN 33 below the program’s PLN 140 ceiling.
The program
is small compared with capital return schemes at western-listed CFD peers. IG Group launched its fourth £125
million buyback in under two years on April 1, while Plus500 began a fresh $100 million
repurchase in February.
Both
companies use buybacks primarily to reduce share capital. Robinhood, by
contrast, announced a $1.5 billion repurchase plan in March as its US-listed
stock slumped.
A Million Polish Accounts,
37% of the Market
The second
piece of news came from the Polish Central Securities Depository (KDPW), which
reported that XTB ended April 2026 with 1,039,514 accounts holding access to
the Polish market.
The figure
makes XTB the first broker in the country to cross the 1 million mark, an
outcome closely tracked by FinanceMagnates.com
over recent months.
XTB added
47,723 accounts in April alone and 547,809 over the previous 12 months.
The broker
now holds 37.2% of the 2,797,076 brokerage accounts registered in Poland, more
than double the share of second-placed mBank, which finished the month with
555,610 accounts across its brokerage and eMakler units.
Omar Arnaout, the CEO of XTB
“This
is a huge success, both for us and for the entire Polish financial
industry,” XTB Chief Executive Omar Arnaout said in a statement. “We
are not slowing down, we are developing our offer, supporting beginner and
experienced investors… to be the first choice among investment apps not only
in Poland, but across all of Europe.”
Competitive Pressure From
Trade Republic and Revolut
The
milestone arrives in the middle of an intensifying retail price war in Poland.
German neobroker Trade Republic entered the country
in September 2025
with a 4.25% savings rate and a flat PLN 4 trading fee, triggering commission
cuts at mBank and DM BOŚ on ETF trading within tax-advantaged retirement
accounts.
Trade
Republic does not yet appear in KDPW data because its Polish accounts are
booked in Lithuania, but Polish press reports place Revolut’s local Invest user
count at around 590,000, just behind XTB’s KDPW tally on a comparable basis.
XTB has
responded with heavier marketing spending, with the 2025 marketing bill
climbing close to 70% to PLN 584.9 million and management guiding for a further
40% to 50% rise in 2026.
Earnings and Dividend
Backdrop
The buyback
and account record both land against unusually strong earnings. XTB ended 2025
with revenue of PLN 2.15 billion and net profit of PLN 643.8 million, with preliminary first-quarter 2026
results showing net profit of PLN 535 million, up 176% year-on-year on operating income of
PLN 1.09 billion.
Noble
Securities analysts have flagged a full-year 2026 net profit run-rate of around
PLN 1 billion.
Shareholders
will also collect a PLN 4.07 per-share dividend from 2025 earnings on June 24,
with June 11 the last day to buy shares carrying entitlement.
