Financial highlights

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	Amount ‘000 PLN		Amount ‘000 EUR
	period from 1.01.2016 do 31.12.2016	period from 1.01.2015 do 31.12.2015	period from 1.01.2016 do 31.12.2016	period from 1.01.2015 do 31.12.2015
Interest income	2 277 354	2 313 205	520 455	552 764
Fee and commission income	698 007	696 280	159 519	166 383
Operating income	2 627 990	2 239 201	600 587	535 080
Operating profit / (loss)	1 128 701	688 892	257 948	164 618
Profit /(loss) before income taxes	953 256	687 507	217 852	164 287
Profit /(loss) after taxes	701 252	546 525	160 261	130 598
Total comprehensive income for the period	498 040	677 686	113 820	161 940
Net cash flows from operating activities	2 891 446	4 413 224	660 796	1 054 584
Net cash flows from investing activities	(4 373 934)	(2 313 903)	(999 596)	(552 930)
Net cash flows from financing activities	13 316	(646 630)	3 043	(154 519)
Net cash flows, total	(1 469 172)	1 452 691	(335 757)	347 135
Total assets	68 792 787	66 235 256	15 549 907	15 542 709
Liabilities to banks and other monetary institutions	1 270 745	1 443 921	287 239	338 829
Liabilities to customers	55 875 609	52 810 389	12 630 111	12 392 441
Total equity	6 941 205	6 443 165	1 568 988	1 511 948
Share capital	1 213 117	1 213 117	274 213	284 669
Number of shares	1 213 116 777	1 213 116 777	1 213 116 777	1 213 116 777
Book value per share (in PLN/EUR)	5.72	5.31	1.29	1.25
Diluted book value per share (in PLN/EUR)	5.72	5.31	1.29	1.25
Capital adequacy ratio	17.40%	16.72%	17.40%	16.72%
Basic earnings (losses) per ordinary share (in PLN/EUR)	0.58	0.45	0.13	0.11
Diluted earnings (losses) per ordinary share	0.58	0.45	0.13	0.11
Pledged or paid dividend per share (in PLN/EUR)	–	–	–	–

Rates used for conversion of financial data to EURO

Following rates were used to calculate values in EURO:

• For balance-sheet items 4.4240 EUR/PLN rate of 31 December 2016 (for comparable data as of 31 December 2015: 4.2615 EUR/PLN),
• For items from the Profit and Loss Account for the period 1 January – 31 December 2016 – 4.3757 EUR/PLN, rate calculated as the average of rates at end of reporting months (for comparable data for the period 1 January – 31 December 2016: 4.1848 EUR/PLN).

Quarterly Financial Information

Consolidated Income Statement

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Amount ‘000 PLN	1.01.2016 -31.12.2016	1.10.2016 -31.12.2016*	1.01.2015 -31.12.2015	1.10.2015 -31.12.2015*
Interest income	2 277 354	574 785	2 313 205	576 771
Interest expense	(771 516)	(185 611)	(947 958)	(227 259)
Net interest income	1 505 838	389 174	1 365 247	349 512
Fee and commission income	698 007	188 445	696 280	168 912
Fee and commission expense	(116 983)	(31 749)	(100 107)	(28 465)
Net fee and commission income	581 024	156 696	596 173	140 447
Dividend income	1 909	2	2 271	1
Result on investment financial assets	314 689	9 675	41 852	2 715
Result on financial instruments valued at fair value through profit and loss and foreign exchange result	173 974	49 089	175 384	50 087
Other operating income	50 556	15 771	58 274	7 027
Operating income	2 627 990	620 407	2 239 201	549 789
General and administrative expenses	(1 057 466)	(268 249)	(1 036 614)	(261 985)
Impairment losses on financial assets	(227 804)	(70 907)	(239 833)	(44 430)
Impairment losses on non-financial assets	(3 390)	(744)	(1 400)	(790)
Depreciation and amortization	(54 854)	(13 460)	(50 435)	(13 395)
Other operating expenses	(155 775)	(39 136)	(222 027)	(162 517)
Operating expenses	(1 499 289)	(392 496)	(1 550 309)	(483 117)
Operating profit / (loss)	1 128 701	227 911	688 892	66 672
Share in net profit of related entities	(1 376)	(1 376)	(1 385)	0
Banking tax	(174 069)	(46 127)	0	0
Profit / (loss) before income taxes	953 256	180 408	687 507	66 672
Corporate income tax	(252 004)	(48 917)	(140 982)	(13 629)
Profit / (loss) after taxes	701 252	131 491	546 525	53 043
Attributable to:
Owners of the parent	701 252	131 491	546 525	53 043
Non-controlling interests	0	0	0	0

* quarterly financial information has not been audited

Consolidated Statement of Total Comprehensive Income

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Amount ‘000 PLN	1.01.2016 -31.12.2016	1.10.2016 -31.12.2016*	1.01.2015 -31.12.2015	1.10.2015 -31.12.2015*
Profit / (loss) after taxes	701 252	131 491	546 525	53 043
Other elements of total comprehensive income that were/will be subsequently reclassified to profit or loss	(252 328)	(53 523)	161 159	299 765
Effect of valuation of debt securities from available for sale portfolio	(85 163)	(65 138)	(31 637)	14 746
Effect of valuation of shares from available for sale portfolio	(211 444)	272	213 009	213 061
Hedge accounting	44 279	11 343	(20 213)	71 958
Other elements of total comprehensive income that will not be subsequently reclassified to profit or loss	1 449	1 449	769	769
Actuarial gains (losses)	1 449	1 449	769	769
Other elements of total comprehensive income before taxes, total	(250 879)	(52 074)	161 928	300 534
Corporate income tax on other elements of total comprehensive income that were/will be subsequently reclassified to profit or loss	47 942	10 169	(30 621)	(56 955)
Corporate income tax on other elements of total comprehensive income that will not be subsequently reclassified to profit or loss	(275)	(275)	(146)	(146)
Other elements of total comprehensive income after taxes	(203 212)	(42 180)	131 161	243 433
Total comprehensive income for the period	498 040	89 311	677 686	296 476
Attributable to:
Owners of the parent	498 040	89 311	677 686	296 476
Non-controlling interests	0	0	0	0

* quarterly financial information has not been audited