The provision balance stood at PLN924 million at YE20. Adjusted for the provision cost, BM Group would report net profit of PLN637 million in 2020 overall. Full year net profit adjusted for all extraordinary items stood at PLN709 million, down 23% y/y. Adjusted ROE of 7.8% compared against 10.6% in 2019. It is worth to remind however that the y/y comparability of 2020 P&L was distorted due to the merger of Euro Bank (acquired on the 31st of May, 2019).
While the 2020 net profit was admittedly well below our aspirations, we are convinced that the initiatives started and related costs endured will pay-off going forward. We swiftly responded to revenue headwinds and as a result our cost growth in 2020 overall (+2% y/y including D&A) was slower than this of revenues (+3%). In 4Q20, HR costs were down 17% y/y and down 10% q/q and we expect the positive momentum to continue in 2021.
Additionally, we increased risk buffers (NPL/DPD90+ coverage ratios at 66%/119% vs. 62%/106% at YE19 respectively; abovementioned provisions against legal FX-mortgage related risks at 6.7% of YE20 portfolio ex-Euro Bank) while our capital ratios remained strong (consolidated TCR/T1 of 19.5%/16.5% respectively against regulatory requirements of 14.1%/11.3%).
Moreover, we shortened the timeline of implementation of merger synergies with Euro Bank. Combined with new efficiency improvement initiatives, this resulted in a 15% reduction of our distribution network (702 outlets vs. 830 at YE19 with 124 or 21% of own branches closed in the period) and 14% reduction of active FTEs to 6.6k. As a result, net synergies became tangible (PLN100 million pre-tax in 2020), recurrent and should double in 2021.
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.