Financial and
ESG report 2020

Financial ratios

KEY PROFIT & LOSS ITEMS

PLNmn 2020 2019 Change Y/Y
Net interest income 2 583.1 2 499.4 3.30%
Net commission income 746.1 699.2 6.7%
Total operating income 3 577.8 3 471.5 3.1%
Total costs -1 752.8 -1 726.1 1.50%
Costs without EB integration and BFG -1 519.5 -1 489.6 2.00%
Loan loss provisions (incl. Covid-19) -621.3 -439 41.50%
FX mortg. legal risk provisions -713.6 -223.1 219.80%
Banking tax on assets -279.1 -248 12.60%
Net profit 22.8 560.7 -95.90%
Net profit without extraordinary items* 709.5 921.1 -23.00%
NIM 2.61% 2.84% -0.23 p.p.
Cost/Income reported ytd 49.00% 49.70% -0.7 pp
Cost/Income adjusted (*) ytd 46.70% 46.90% -0.2 p.p.
Cost of risk ytd 83 p.b. 68 p.b. + 15 p.b.
ROE ytd 0.20% 6.40% -6.2 p.p.
ROE adjusted (*) ytd 7.80% 10.60% -2.8 p.p.
(*) Extraordinary items

 

KEY BALANCE SHEET ITEMS AND OTHER RELEVANT INDICATORS

PLNmn Dec. 20 Dec. 19 Change Y/Y
Active customers (ths) 2 633 2 571 62
incl. on-line and mobile 2 053 1 838 215
Customer funds 90 264 90 295 0.00%
Deposits 81 511 81 455 0.1%
Deposits of individuals 61 875 61 092 1.30%
Kredyty 74 088 69 615 6.4%
FX mortgage loans excl. EB 13 140 13 493 -2.60%
Loans without FX mortgage 59 960 55 151 8.70%
L/D 90.90% 85.50% 5.4 pp
Impaired loan ratio (*) 4.95% 4.60% 0.4 pp
Coverage ratio 65.70% 62.50% 3.2 pp
CET1 = T1 16.50% 16.90% -0.4 pp
TCR 19.50% 20.10% -0.6 pp
*) stage 3 and POCI loans share in gross total loans

Lower interest rates and extraordinary items taking a toll on the results

2020

+3%

Revenues up y/y

+2%

Costs only marginally up

DPD90+ 119%

Provision coverage up

Financial highlihgts of 2020

Without Euro Bank integration cost and extraordinary items, 2020 ROE at 7.8%; operating income up 3% y/y

 

Net profit ytd (mn PLN)

Net profit w/o extraordinary items (mn PLN)

Operating income (mn PLN)

Maintained high quality of assets and liquidity

Impaired loans ratio at 4.95%

Cost of risk at the level of 83 bps.

Loan / deposit ratio at 91%

Liquidity indicators

 

Group capital ratios *

(*) Bank’s (solo) capital ratios : TCR 19.2% and CET1 16.2%

Capital requirement vs. actual ratios as at 31 Dec. 20 (Group) (mn PLN)

High level of risk absorption capacity:

5.2%-5.4%

of T1/TCR surplus

2.5%-3.4%

of T1/TCR FX-buffer

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