Financial and
ESG report 2020

Our results in 2020

Bar all the negative impacts of the COVID-19 pandemic, we see 2020 as a year accelerating our transformation for a new era in banking.

We firmly stood by our customers during the pandemic, as a result strengthening further our relations with them. As a result, cross-sell ratios increased in many categories. We also won new customers despite the challenges brought by the pandemic. The number of active customers increased by 61 thousand to 2.63 million at the end of the year. Origination of mortgage loans reached a new record level of PLN7.2 billion (disbursements PLN6.7 billion, +57% y/y) and a new record high market share (12.2%). Origination of cash loans dropped y/y to PLN4.6 billion but the Bank maintained its market share at the high level of 10.7%. Digitalisation process accelerated significantly, both at the front- and back-end. 

Solid operating results despite the pandemic:

3.3% y/y
NII (pro-forma)
6.7% y/y
Net fee income
3.1% y/y
Operating income
4.6% y/y
Operating profit pre-provision

High quality of assets and high liquidity maintained

NPL ratio
83 bp
Cost of risk
Low loan/deposit ratio

Solid capital position and lower regulatory buffers

  • TCR (Group) at 19.5%, CET1 at 16.5% over 5pp above regulatory minimum levels
  • PFSA lowered FX-buffer to 3.35% (Group)

Retail banking

active customers (+61k y/y)
digital customers (+12% y/y)
active mobile customers (+18% y/y)
issued debit cards (+145k y/y) 
PLN mortgage loans up 22.4% y/y; record disbursements (PLN6.7bn, up 57% y/y) and market share in originations at 12.2% from 7.3% in 2019
Cash loans up 1.5% y/y despite lower disbursements (down 7% y/y); maintained market share in originations (10.7%)

Corporate banking

up 37% y/y
Deposits at current accounts
+1.1% y/y
Loan book (ex-leasing) 
+10% y/y
Origination of factoring
Growing number and volume of transactions 

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