Presentation of R&D expenditures of the largest banks in Poland

Innovation is the foundation of economic development. The subject of this paper was to identify how banks communicate to their stakeholders about their R&D activities and spending. The financial statements and non-financial reports of the 6 largest banks in Poland in 2017-2022 were verified. It was decided to choose business entities from this sector, as it was considered that banks are characterized by high expenditures on modern technologies and innovation. It is a sector that is developing rapidly, using the latest technological solutions to meet the ever-growing needs of customers for new banking products and the security of their operation. Unfortunately, despite the high expenditure on intangible assets disclosed in the balance sheet, it turned out that the banks do not boast about their research. There is no precise information on what expenditures on development work or the increase in expenditure on software, patents or licenses are about. Such information cannot be found either in the notes or in the non-financial reports. This paper contributes to the sustainability reporting literature by providing new insights into banks' R&D spending reporting practices. Although the subject of R&D expenditure appears quite often in the literature on the subject, it is quite rare in the context of financial statements and non-financial reports. There is, therefore, a research gap in this area.