BOŚ S.A. GROUP 1H 2012

Transcription

1 BOŚ S.A. GROUP 1H 2012 PU\Warsaw\Bos\C

2 Agenda 1. Key information about BOŚ S.A. Group 2. BOŚ S.A. Group in 1H 2012 Appendices 2

3 3 Key information about BOŚ S.A. Group BOŚ S.A. Group Bank structure Bank Ochrony Środowiska S.A. Bank s headquarters BOS Finance AB Dom Maklerski Banku Ochrony Środowiska S.A. 17 Branches 11 Corporate Centers 100 BOŚ Eko Profit S.A. 82 Operating Branches Shareholding pre-offer Shareholding post-offer CAR for BOŚ S.A. Group 5,98 14,92 39,10 m PLN H2012 Tier I 815,79 917,28 950, ,07 Tier II 124,5 126,13 229,65 338,87 Short-term capital 1,66 9,5 17,12 12,68 79,10 4,28 56,62 CAR 12,78 12,36 12,24 15,02 National Fund for Environmental Protection State Forests Free Float

4 June April - May March February Important events in 1H 1 CREDIT LINE AGREEMENT with European Investment Bank, which placed at the disposal of BOŚ S.A. funds in the amount of 75 m EUR. 2 BOND ISSUE in the amount of 185 mln PLN (H series) and subordinated bonds in the amount of 100 m PLN (G series). 3 CREDIT LINE AGREEMENT with Council of Europe Development Bank (CEB), which placed at the disposal of BOŚ S.A. funds in the amount of 75 m EUR. 4 PUBLIC OFFERING ordinary bearer shares with a nominal value of 10 PLN each. Subscription covered 6.5 m shares of P series. The issue price was fixed at 35 PLN. The gross proceeds from the issue amounted to m PLN. On July 2, 2012, the shares were introduced to trading on the main market of the Warsaw Stock Exchange. 5 LONG-TERM FITCH RATING was confirmed at the level of BBB with a stable outlook. 6 IMPLEMENTATION OF CENTAL BANKING SYSTEM completed in June 2012, will enable the optimization of operations related to customer service, will allow for faster introduction of new products and ensure optimization of IT processes. 7 BOND ISSUE in the amount of 60 m PLN (KT.1.1 series) i 47 m PLN (KT.1.2 series). 4

5 Agenda 1. Key information about BOŚ S.A. Group 2. BOŚ S.A. Group in 1H 2012 Appendices 5

6 Tysiące Tysiące Tysiące Tysiące Key ratios of BOŚ S.A. Group Net interest margin vs net interest income (m PLN) ROA vs total assets (m PLN) ,0 1,8 1,8 1,8 1, net interest income net interest margin ,5 0,4 0,4 0,4 0,2 total assets ROA ROE vs equity (m PLN) 6,3 5,6 5,1 4,9 3, equity ROE C/I vs total income (m PLN) ,4 76,6 76,4 76,7 77, total income C/I

7 Profits Profit of BOŚ Group (m PLN) +129,6 +126, ,2 Consolidated and stand-alone results ,3 24 Gross profit Net profit Profit of the Bank (m PLN) Profit of DM BOŚ (m PLN) +277,8 +321,4-2,4 +50,0 +46, , ,8-85, Gross profit Net profit Gross profit Net profit 7

8 Financial results of BOŚ S.A. Group Item 1H H 2011 Change Net interest income 138,4 137,3 0,9 Net commission & fee income 52,2 56,2-7,3 Net operating income 14,8 26,2-43,3 Result on investment securities 13,6 0, ,0 Foreign exchange result 13,6 13,8-1,5 Result on banking activities 236,1 237,2-0,4 General administrative costs -181,5-183,4-1,0 Lower administrative expenses as a result of cost discipline and lower expenditure on advertising. Weaker results for write-offs due to the deterioration of the economic situation of companies, especially companies in the construction sector. Net impairment loses -25,2-21,0 20,6 Net profit 24,4 28,5-14,1 Assets , ,1 5,7 Loans , ,4-0,1 Deposits , ,2 4,3 ROE Zysk netto Net profit narastająco (m PLN) (mln zł) ,1 4,9 28,5 24,4 1H11 1H12 1H11 1H12 8

9 9 Result on banking activities of BOŚ S.A. Group Result on banking activities 1H11 1H12 (m PLN) Hihger result on investment securities + 13,5 m Y/Y Stable net income from banking operations 1H11 Net interest income Net fee and commission income 1H12 Net trading income Others Result on banking activities (m PLN) Net interest income Net fee and commission income Net trading income Others

10 10 Cost of credit Additional construction sector write-offs had an impact on impairment loses BOŚ S.A. Group (m PLN) ,39-0,35-0,37-0,32-0,41 #REF! net impairment risk margin loses Impairment loses +20 Y/Y Bank created an additional write-downs on exposures in the construction industry. Risk margin +0,9 p.p. Y/Y The Bank maintained a stable margin risk costs in Higher margin risk in 1H12 due to the deterioration of the economic situation of enterprises caused by the economic slowdown Retail (m PLN) ,31-0, Corporate and public finance (m PLN) 0, ,32-0,37-0,32-0, ,88-0,89 net impairment loses -0,64 risk margin net impairment loses risk margin Risk margin: Semi-year net impairment loses for I-II Q of the year and second halfof the previous year / average balance of gross advances to customers during 2H of the previous year to the 1H of the current year; Yearly net impairment loses for given period/ average balance of gross advances to customers during that period.

11 Balance sheet Change m PLN Item M Y/Y Loans and advances to customers Investment securities Cash and deposits with the Central Bank Deposits with othr banks, loans and advances to toher banks Other assets Total assets Amounts due to customers Amounts due to banks Liabilities nder banking securities issued Loans and advances to customers without change Y/Y. Amounts due to customers + 0,5 bn PLN Y/Y. The decrease related to the withdrawal from the Bank's offer overnight deposits for retail customers in Customer funds were obtained on the financial markets. Other liabilities Equity Total liabilities Loans/Deposits 105,0 99,5 100,5 1,0 p.p. -4,5 p.p. Suma bilansowa (mln zł) Total assets (m PLN) Assets structure Liabilities structure Securities 25 Cash and other assets 8 Loans and advances to customers 67 Other liabilities 3 Equity 9 Amounts due to other banks 3 Liabilities under banking securities issued 15 Amounts due to customers 70 11

12 12 Deposits in BOŚ Group S.A. Division Customer group including Corporate and public finance (4,7 bn PLN) Corporate clients (3,9 bn PLN) Public finance (0,8 bn PLN) BOŚ S.A. Group Amounts due to customers (11,1 bn PLN) Debt securities issued (2,2 bn PLN) Retail clients (4,4 bn PLN) Loans from financial institutions and ecolological funds (2,0 bn PLN) Ecological funds (0,4 bn PLN) Loans and advances from international financial institutions (1,0 bn PLN) Ecological funds resources intended for lending (0,5 bn PLN) Subordinated debt (0,3 bn PLN) Other customers (0,1 bn PLN)

13 13 Lending Loan portfolio of which Division Customer group including (as of ) eco-loan portfolio BOŚ Corporate and public finance Corporate clients (3,5 bn PLN) Public finance (3,2 bn PLN) Medium and large enterprises Small enterprises Local governments Municipal enterprises 1,8 bn PLN (16) 1,7 bn PLN (15) 2,8 bn PLN (25) 0,4 bn PLN (3) 1,9 bn PLN (28 of the division s loan portfolio) Retail Retail clients (4,7 bn PLN) Microenterprises and homeowner associations Retail clients 0,2 bn PLN (2) 4,5 bn PLN (39) 0,2 bn PLN (4 of the division s loan portfolio)

14 Capital adequacy and equity CAR of the Group Limit na kwotę zobowiązań podporządkowanych względem funduszy podstawowych Grupy (mln zł) 15, ,27 12, obligation imposed by PFSA Minimal level required by PFSA Subordinated debt fundusze podstawowe limit of the Banking Law (half of the basic funds) Equity of the Bank+ short-term capital 45 basic funds (monitored value) Capital and equity of the Group (m PLN) Influence on CAR: Public offering 227,5 m PLN, subordinated bond issue 100 m PLN. 1H H 12 Tier I Capital Tier II Capital Equity 14

15 15 Lending portfolio quality 1H11 (m PLN) (m PLN) 1 1H12 (m PLN) (253) (239) (265) Gross loans Impairment allowances Net loans Gross loans Impairment allowances Net loans Gross loans Impairment allowances Net loans Retail loans Corporate loans Retail loans Corporate loans Retail loans Corporate loans Public finance 28 Public finance 28 Public finance 30 Ratio of non-performing loans by segments 7,0 11,5 12,2 12,9 8,3 6,2 4,8 4,8 5,3 3,4 3,3 3,7 1H H12 Loans to corporate and public finance Retail loans - mortgages Retail loans - other Retail - all

16 Agenda 1. Key information about BOŚ S.A. Group 2. BOŚ S.A. Group in 1H 2012 Appendices 16

17 17 Financial results of BOŚ S.A. Group m PLN 2Q 11 1Q 12 2Q 12 2Q12/2Q11 2Q12/1Q11 Net interest income Net fee and commission income Dividend income Net trading income Result on investment securities Foreign exchange result Other operating income Other operating expences Net impairment loses General administrative expenses Profit before tax Income tax charge Net profit 68,0 67,6 70,2 3,2 3,8 28,6 26,7 26,0-9,1-2,6 3,6-3,5-2,8 x 14,2 8,6 6,3-55,6-26,7-0,2 1,0 12,7 x 1170,0 8,8 2,6 10,9 23,9 319,2 1,5 3,6 0,8-46,7-77,8-1,3-2,6-3,3 153,8 26,9-10,9-4,5-20,7 89,9 360,0-94,2-87,5-94,0-0,2 7,4-18,1-15,5 12,4-168,5-180,0-4,6-3,0-0,5-89,1-83,3 13,5 12,6 11,9-11,9-5,6 m PLN 1H 11 1H 12 1H12/1H11 Net interest income 137,3 138,4 0,8 Net fee and commission income 56,2 52,2-7,1 Dividend income 3,6 3,5-2,8 Net trading income 26,2 14,8-43,5 Result on investment securities 0,1 13, ,0 Foreign exchange result 13,8 13,6-1,4 Other operating income 5,6 4,4-21,4 Other operating expences -2,9-5,9 103,4 Net impairment loses -21,0-23,5 11,9 General administrative expenses -183,4-181,5-1,0 Profit before tax 35,5 29,6-16,6 Income tax charge -7,0-3,8-45,7 Net profit 28,5 25,8-9,5

18 18 BOŚ interim statement of financial position m PLN / / Cash and deposits with the Central Bank Deposits with other banks, loans and advances to other banks Securities held-for-trading Derivative financial instruments Loans and advances to customers Investment securities - available for sale - held to maturity Investment in assosiate Intangible assets Property, plant and equipment Income tax assets Other assets TOTAL ASSETS 496,8 469,1 499,6 0,6 6,5 146,2 94,6 142,9-2,3 51,1 36,8 6,6 83,0 125,5 1157,6 11,3 56,6 51,1 352,2-9, , , ,2-0,1-1, , , ,0 46,2 12,3 393,6 - - x x 22,8 - - x x - 22,8 22,8 x - 104,5 119,9 126,6 21,1 5,6 126,7 128,6 121,6-4,0-5,4 25,4 30,3 28,2 11,0-6,9 104,2 105,3 122,0 17,1 15, , , ,0 5,8 2,3 Amounts due to Central Bank Amounts due to other banks Derivative financial instruments Amounts due to customers Liabilities under banking securities issued Subordinated debt Provisions Income tax liabilities Other liabilities Total equity TOTAL EQUITY AND LIABILITIES 0,1 0,1 0, ,4 710,3 789,6-37,5 11,2 64,8 20,5 24,3-62,5 18, , , ,1 4,3-2, , , ,0 21,0 11,3 121,4 222,8 326,2 168,7 46,4 21,1 19,7 19,8-6,2 0,5 0,4 10,6 0,1-75,0-99,1 106,7 114,7 138,6 29,9 20, , , ,2 27,8 22, , , ,0 5,8 2,3

19 Disclaimer Neither this document nor any information contained herein may be distributed in the United States, Canada, Japan or Australia. This document is not an offer for the sale of any securities in the United States. The securities of Bank Ochrony Środowiska S.A. ( Company ) have not been and will not be registered under the United States Securities Act of 1933, as amended (the Securities Act ) or any state regulations and may not be offered or sold in the United States or to US Persons (as defined in Regulation S issued under the Securities Act of 1933) absent registration or an exemption from registration under the Securities Act, or in a transaction not subject to the registration requirements of the Securities Act or any state regulations. Neither this document nor any copy of it may be transferred to or transmitted in the United States, Canada, Japan or Australia Canada or distributed or redistributed in Japan, United States or Australia or to any resident thereof. This document does not constitute or form part of any offer to sell or issue, or an invitation to make an offer to purchase any securities, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on or referred to in connection with, any contract. This document is directed only at persons who are (a) outside the United Kingdom or (b) persons who have professional experience in matters relating to investments falling within the definition of investment professionals in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the Order ) or (c) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as Relevant Persons ). The securities referred to in this document shall be made available only to the indicated persons and any invitation, offer or obligation to subscribe for, purchase or otherwise acquire such securities mill only be made available to or placed by the relevant persons. None other than a relevant person may rely on or refer to this document or any part hereof. This document is merely a promotional instrument and should not, in any circumstances, be relied upon in making decisions as to investments in the Company securities. This document is not to be distributed, directly or indirectly, in the United States of America or in other jurisdictions where public distribution of the information contained herein could be subject to restrictions or be prohibited by law. This document does not constitute an offer to sell or an invitation to subscribe for or acquire any securities. This document may include forward-looking statements which means any statements using such words as will, would, should, expect, intend, estimate, anticipate, project, future, potential, believe, seek, plan, aim, objective, goal, strategy, target, continue and similar expressions or their negatives. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions and other factors that could cause the Company's actual results of operations, performance or growth, to differ materially from those expressed in, or suggested by, these forward-looking statements. The Company has no obligation to update publicly or revise publicly any forward-looking statements contained herein, whether as a result of new information, future events, changed circumstances or any other reason after the date of this document. 19