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2019 Financial
and Social Report

Financial highlights

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Financial highlights

XLS
Amount ‘000 PLN Amount ‘000 EUR
1.01.2019 – 31.12.2019 1.01.2018 – 31.12.2018 1.01.2019 – 31.12.2019 1.01.2018 – 31.12.2018
Interest income and other of similar nature 3 374 836 2 561 919 784 517 600 417
Fee and commission income 899 887 824 245 209 188 193 172
Profit (loss) before income tax 835 343 1 024 605 194 185 240 129
Profit (loss) after taxes 560 732 760 651 130 348 178 268
Total comprehensive income of the period 557 133 854 466 129 512 200 255
Net cash flows from operating activities (570 674) 4 255 280 (132 659) 997 277
Net cash flows from investing activities (912 588) (8 004 614) (212 141) (1 875 979)
Net cash flows from financing activities 715 363 (138 230) 166 294 (32 396)
Net cash flows, total (767 899) (3 887 564) (178 506) (911 098)
Earnings (losses) per ordinary share (in PLN/EUR) 0.46 0.63 0.11 0.15
Diluted earnings (losses) per ordinary share 0.46 0.63 0.11 0.15
31.12.2019 31.12.2018 31.12.2019 31.12.2018
Total Assets 98 055 942 80 458 914 23 025 935 18 711 375
Liabilities to banks and other monetary institutions 1 578 848 1 788 857 370 752 416 013
Liabilities to customers 81 454 765 66 243 769 19 127 572 15 405 528
Equity 8 941 519 8 384 386 2 099 687 1 949 857
Share capital 1 213 117 1 213 117 284 870 282 120
Number of shares (pcs.) 1 213 116 777 1 213 116 777 1 213 116 777 1 213 116 777
Book value per share (in PLN/EUR) 7.37 6.91 1.73 1.61
Diluted book value per share (in PLN/EUR) 7.37 6.91 1.73 1.61
Total Capital Ratio (TCR) 20.09% 21.68% 20.09% 21.68%
Pledged or paid dividend per share (in PLN/EUR) – – – –
XLS
Exchange rates accepted to convert selected financial data into EUR
for items as at the balance sheet date – – 4.2585 4.3000
for items for the period covered by the report (exchange rate calculated as the average of exchange rates at the end of individual months of the period) – – 4.3018 4.2669

 

Quarterly financial information

Consolidated income statement

XLS
Amount ‘000 PLN 1.01.2019 -31.12.2019 1.10.2019 -31.12.2019* 1.01.2018 -31.12.2018 1.10.2018 -31.12.2018*
Net interest income 2 436 919 692 813 1 817 475 485 668
Interest income and other of similar nature 3 374 836 947 170 2 561 919 680 494
Income calculated using the effective interest method 3 247 640 913 088 2 445 255 650 089
Interest income from Financial assets at amortised cost 2 852 907 812 127 2 092 858 555 227
Interest income from Financial assets at fair value through other comprehensive  income 394 733 100 961 352 397 94 862
Income of similar nature to interest from Financial assets at fair value through profit or loss 127 196 34 082 116 664 30 405
Interest expenses (937 917) (254 357) (744 444) (194 826)
Net fee and commission income 699 153 182 647 661 069 161 569
Fee and commission income 899 887 238 789 824 245 204 337
Fee and commission expenses (200 734) (56 142) (163 176) (42 768)
Dividend income 3 214 275 2 601 196
Result on derecognition of financial assets and liabilities not measured at fair value through profit or loss 38 027 3 718 18 897 3 220
Results on financial assets and liabilities held for trading 68 187 17 459 81 775 23 667
Result on non-trading financial assets mandatorily at fair value through profit or loss 65 703 13 176 (6 375) (4 591)
Result on hedge accounting (19 821) (4 183) (20 037) (5 130)
Result on exchange differences 163 147 39 007 151 620 41 134
Other operating income 97 582 17 451 50 710 16 077
Other operating expenses (103 989) (18 720) (50 028) (15 682)
Administrative expenses (1 545 183) (435 747) (1 213 765) (305 392)
Impairment losses on financial assets (402 743) (60 565) (201 967) (52 132)
Impairment losses on non-financial assets (1 193) 1 112 (509) 311
Provisions for legal risk connected with FX mortgage loans (223 134) (223 134) 0 0
Result on modification (11 663) (2 476) (14 157) (3 970)
Depreciation (180 872) (54 211) (54 227) (14 358)
Share of the profit of investments in subsidiaries 0 0 0 0
Banking tax (247 991) (69 134) (198 477) (49 952)
Profit before income taxes 835 343 99 488 1 024 605 280 635
Corporate income tax (274 611) (72 520) (263 954) (68 118)
Profit after taxes 560 732 26 968 760 651 212 517
Attributable to:
Owners of the parent 560 732 26 968 760 651 212 517
Non-controlling interests 0 0 0 0
Weighted average number of outstanding ordinary shares (pcs.) 1 213 116 777 1 213 116 777 1 213 116 777 1 213 116 777
Profit (loss) per ordinary share (in PLN) 0.46 0.02 0.63 0.18
* quarterly financial information has not been audited by an independent auditor

 

Consolidated statement of total comprehensive income

XLS
Amount ‘000 PLN 1.01.2019 -31.12.2019 1.10.2019 -31.12.2019* 1.01.2018 -31.12.2018 1.10.2018 -31.12.2018*
Result after taxes 560 732 26 968 760 651 212 517
Other comprehensive income items that may be (or were) reclassified to profit or loss (3 899) (7 934) 112 882 71 694
Result on debt securities at fair value through other comprehensive income (43 584) (4 976) 71 006 57 008
Hedge accounting 39 685 (2 958) 41 876 14 686
Other comprehensive income items that will not be reclassified to profit or loss (544) (568) 2 939 2 957
Actuarial gains (losses) (735) (735) (83) (83)
Result on equity instruments at fair value through other comprehensive income 191 167 3 022 3 040
Total comprehensive income items before taxes (4 443) (8 502) 115 821 74 651
Corporate income tax on other comprehensive income items that may be (or were) reclassified to profit or loss 741 1 508 (21 448) (13 620)
Corporate income tax on other comprehensive income items that will not be reclassified to profit or loss 103 108 (558) (562)
Total comprehensive income items after taxes (3 599) (6 886) 93 815 60 470
Total comprehensive income for the period 557 133 20 082 854 466 272 987
Attributable to:
Owners of the parent 557 133 20 082 854 466 272 987
Non-controlling interests 0 0 0 0
* quarterly financial information has not been audited by an independent auditor
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