BOŚ S.A. Group 1H 2013

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1 BOŚ S.A. Group 1H 2013

2 BOŚ S.A. Group key information Slajd 2 z 31 Slajd 2 z 31

3 Key financial data of BOŚ S.A. Group quarterly data (thou PLN) 1Q Q Q Q 2013 Change q/q (2Q 2013 vs. 1Q 2013) Change Y/Y (2Q 2013 vs. 2Q 2012) Net interest income ,4% -6,5% Net commission & fee income ,8% 5,3% Net operating income ,3% 2,5% Gross profit ,2% 153,5% Net profit ,6% 99,0% data at the end of given period (% / thou PLN) Change q/q ( vs ) Change Y/Y ( vs ) CAR 13,14% 15,02% 14,23% 14,11% -0,12 p.p. -0,91 p.p. Loans and advances to customers ,2% 2,8% Liabilities ,5% 15,6% Assets ,3% 10,2% ROE C/I 5,4% 80,0% 2,9% 74,8% Slajd 3 z H H 2013

4 Key information about BOŚ S.A. Group BOŚ S.A. Group Structure 100% Bank Ochrony Środowiska S.A. 100% Headquarters BOS Finance AB 99,62% Invest Management Banku Ochrony Środowiska S.K.A. Dom Maklerski Banku Ochrony Środowiska S.A. 17 Branches 11 Corporate centers 100% 0,38% 77 Operating branches BOŚ Eko Profit S.A. Shareholders Number of branches 43,38% 56,62% National Fund for Environmental Protection Others 1H H 2013 Slajd 4 z 31

5 Customers of the Bank Source: Bank, numbers in thou Number of customers Number of customers using electronic channels 8 thou 0,7 thou H H H H 2013 Debit and credit cards Number of accounts* 2 thou 9 thou H H H H 2013 Slajd 5 z 31 * Including savings accounts

6 Marcroeconomic background Slajd 6 z 31 Slajd 6 z 31

7 Macroeconimic background 1/2 GDP, consumption and investment dynamics Inflation 6,0 5,0 4,0 3,0 2,0 1,0 0,0-1,0 % YoY GDP consumption investment % Y/Y 1Q09 3Q09 1Q10 3Q10 1Q11 3Q11 1Q12 3Q12 1Q ,0 % YoY CPI core inflation 4,0 2,0 0,0 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 Employment and salaries dynamics Unemployment rate 6 % YoY % Y/Y % thou Y/Y employment nominal salary real salary annual change in number of unemployed unemployment rate Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan Slajd 7 z 31

8 Macroeconimic background 2/2 Deposits dynamics Loans dynamics % YoY % Y/Y deposits deposits of individuals deposits of institutions % YoY loans % Y/Y consumer loans institutional loans mortgages Q09 3Q09 1Q10 3Q10 1Q11 3Q11 1Q12 3Q12 1Q Q09 3Q09 1Q10 3Q10 1Q11 3Q11 1Q12 3Q12 1Q13-10 Interest rates PLN exchange rate 7,0 % 5,0 PLN 4,0 5,0 4,5 3,5 3,0 3,0 NBP reference rate WIBOR 3M 5y bond yield 1,0 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 4,0 PLN/EUR PLN/USD (P) PLN/CHF (P) 3,5 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 Jul-12 Jan-13 2,5 2,0 Slajd 8 z 31

9 BOŚ S.A. Group in 1H 2013 Slajd 9 z 31 Slajd 9 z 31

10 Ratios of BOŚ S.A. Group Net interest margin vs net interest income (m PLN) 18 ROA vs total assets (bn PLN) 1,5% 300 3,0% ,8% 1,8% 1,8% 1,7% 1,5% H H ,0% 1,0% 0,0% ,2 16,9 17,6 0,5% 15,6 16,0 0,4% 0,4% 0,5% 0,2% H H ,0% 0,5% 0,0% Net interest income Net interest margin Total assets ROA ROE vs capital (m PLN) C/I vs total income (m PLN) % ,3% 5,6% ,4% ,9% 3,7% 8% 6% 4% 2% ,6% ,4% 80,0% ,9% 74,8% % 80% 70% 60% H H % H H % Capital ROE Total income C/I Slajd 10 z 31

11 Profit Profit of BOŚ S.A. Group (m PLN) % % H H 2013 Gross profit H H 2013 Net profit Profit of the Bank (m PLN) % % Slajd 11 z H H 2013 Gross profit H H 2013 Net profit

12 Financial results of BOŚ S.A. Group m PLN Item 1H H 2012 Change Net interest income ,0% Net commission & fee income ,8% Dividend income ,8% Net operatin income ,5% Result on investment securities ,4% Net income on hedge accounting x Foreign exchange result ,0% Operating profit ,5% General administrative expenses ,2% Net impairment loses ,4% Net profit ,6% Assets ,2% Loans & cash advances to customers ,8% Deposits ,6% Higher operating profit by 4.5% Lower net impairment loses by 45.5% Lower general administrative expenses by 0.2% Fee and commission income (m PLN) Total assets (m PLN) Slajd 12 z 31 1H H H H 2013

13 Interest and fee income Net interest income of BOŚ S.A. Group (m PLN) The reduction in net interest income of the Group by 5% Y/Y was associated with a reduction in interest rates. The decline in interest income in the banking sector was 8.9% Y/Y. 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 Net fee and commission income of BOŚ S.A. Group (m PLN) The increase of the Group s net commission income by 1.8% Y/Y, while revenues increased by 1.3% Y/Y and costs decreased by 0.4% Y/Y. Lower net commission income in DM BOŚ by 18% as the result of lower activity of individuals on the WSE Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 Slajd 13 z 31 Bank Subordinates

14 Result on banking activities of BOŚ S.A. Group Result on banking activities of BOŚ S.A. Group (m PLN) 13% 12% 6% % % 13% 21% 54% Net fee and commission income +0.9 m Y/Y Operating income m Y/Y 1H H 2013 Net interest income Net trading income Net fee and commission income Others Result on banking activities of BOŚ S.A. Group (m PLN) in % 10% 15% 8% 11% 7% % % % 22% 22% 60% Slajd 14 z 31 Net interest income Net fee and commission income Net trading income Others

15 Thou Thou Thou Cost of credit BOŚ S.A. Group (m PLN) H H ,23% -0,37% -0,48% -0,43% 0,0% -0,2% -0,4% -0,6% Net impairment loses -45% Y/Y Risk margin -0.2 pp Y/Y -60 Net impairment loses Risk margin (right axis) -0,8% -80-1,0% 0-10 Retail (m PLN) H H ,31% -0,21% -14-0,49% -0,28% ,0% -0,5% Corporate and public finance (m PLN) H H ,05% ,25% -0,37% ,0% -0,2% -0,4% ,0% ,59% -0,6% -30 Net impairment loses Risk margin (right axis) -1,5% Net impairment loses Risk margin (right axis) -0,8% -50-1,0% Risk Margin net impairment loses for given period / average balance of gross loans and advances to customers for given period. Slajd 15 z 31

16 Balance sheet Item vs Change m PLN vs Loans and advances to customers % 3% Derivative financial instruments % 27% Higher volumes: Loans +3% Y/Y Liabilities +16% Y/Y Total assets + 10% Y/Y Cash and deposits with the Central Bank % -61% Deposits with other banks, loans and advances to other banks % -13% Other assets % 3% Total assets % 4% Amounts due to customers % 8% Amounts due to other banks % -5% Liabilities under banking securities issued % -11% 28% Assets - structure 7% Loans and advances to customers Securities Other liabilities % 11% Total equity % 1% 65% Cash and other assets Total liabilities % 4% Credits / Deposits 89,4% 94,2% 100,5% -11,1 p.p. -4,8 p.p Total assets (m PLN) Liabilities - structure 3% 8% 2% 13% Amounts due to customers Liabilities under banking securities issued Amounts due to other banks Other liabilities 73% Equity Slajd 16 z

17 Liabilities per division Category Division Customers Corporate and public finance (5,5 bn PLN) Corporate customers (4,43 bn PLN) Public finance (1,05 bn PLN) BOŚ S.A. Group Amounts due to customers (12,8 bn PLN) Retail clients (5,3 bn PLN) Ecological funds (0,31 bn PLN) Debt securities issued (2,3 bn PLN) Loans from financial institutions and ecolological funds (2,0 bn PLN) Loans and advances from international financial institutions (1,25 bn PLN) Subordinated debt (0,3 bn PLN) Ecological funds resources intended for lending (0,43 bn PLN) Slajd 17 z 31

18 Gross loans and advances per division Division Customer group including Loan portfolio (capital as of ) of which eco-loan portfolio Corporate clients (3,9 bn PLN) Medium and large enterprises 1,15 bn PLN Corporate and public finance Public finance (2,9 bn PLN) Small enterprises Local governments 1,8 bn PLN 2,5 bn PLN 2,23 bn PLN (32,8% of the corporate and public finance division s loan portfolio) BOŚ S.A. Group Municipal entreprises 0,35 bn PLN Retail Retail clients (4,9 bn PLN) Microenterprises and homeowner associations Retail clients 0,2 bn PLN 4,7 bn PLN 0,16 bn PLN (3,3% of the retail division s loan portfolio) Slajd 18 z 31

19 Eco-loans Balance of eco-loans (m PLN) Constant increase of eco-loans share. 14% 7% % 8% 48% % 44% Retail Public finance Corporate Eco-loans sales (m PLN) 163% Bank is focused on financing projects in the following areas: energy efficiency, renewable energy sources, collection and waste management, wastewater and sewage, as well as structured finance. 20% 12% 9% 5% % 692 Retail Corporate Public finance % Slajd 19 z H H 2013

20 Lending portfolio quality 25% 42% Retail Public finance 28% 41% Corporate % 1% % 31% % 48% 52% 47% Gross loans and advances Write-offs Net loans and advances Gross loans and advances Write-offs Net loans and advances Ratio of non-performing loans by segments 12,2% 13,7% 12,9% 13,6% 6,2% 3,3% 4,8% 8,9% 8,3% 8,8% 5,9% 5,3% 4,1% 3,7% 4,1% 5,9% H2012 1H2013 Corporate and public finance loans Mortgages Other retail Retail total Slajd 20 z 31

21 Brokerage DM BOŚ Number of accounts (thou.) Forex Internet 64,3 54,1 58,1 Total Ogółem 68,2 8,2 9,2 Source: Bank 2012 I H I H I H 2013 Market shares (sessions transactions) Shares Futures Akcje Kontrakty Opcje 21,8% 18,9% 20,3% 14,8% 13,5% Options 20,9% 2,1% 2,1% 2,4% Source: WSE 2012 I H 2012 I H I H 2012 I H I H 2012 I H 2013 Improved net financial result of the Group's brokerage business from 0.6 in 1H 2012 to 3.5 m PLN in 1H The increase in net trading income mainly due to higher net income from operations on contracts and other derivative financial instruments. The reduction in administrative expenses due to restructuring. Decrease in fee income of DM BOŚ as a consequence of declining share of individual investors in the stock exchange turnover from 19% to 14% Y/Y. Slajd 21 z 31

22 Important events Long-term Fitch Rating was confirmed at the level of BBB with a stable outlook. BOŚ Bank was the first institution in Europe which completed the project using the total amount of funds in one of the supported regions. Bank s economists were awarded by Gazeta Giełdy Parkiet first place in the economic forecast ranking after the first quarter and second place after the second quarter of Providing customers with the Bank's web-based platform BossaFund. Extending the portfolio to 14 TFI (investment companies) and 159 funds. First place in Comperia.pl ranking for the holiday cash loan. Acquisition of key retail customers from KBC Securities brokerage house, which ends supporting this segment in Poland. Gazeta Giełdy Parkiet Award for the best trading platform FX for BossaFX. Award from the President of the Management Board of the Warsaw Stock Exchange for DM BOŚ market maker for its cooperation with WSE on the futures exchange market. DM BOŚ second time in a row awarded the first place in the ranking of the Best Brokerage Houses organised by Forbes and Association of Individual Investors. Slajd 22 z 31

23 SAMOspłacający się dom SELFpaying house 1/2 Innovative initiative of BOŚ S.A. The property, which earns on itself by producing electricity. The photovoltaic system with a capacity of 40 kw and revenues from the sale of surplus energy after entering into force of the Act on Renewable Energy Resources ( Ustawa o OZE ). House generates savings through the use of environment-friendly solutions and devices which reduce energy consumption such as solar panels, heat pumps and energy-efficient appliances. Slajd 23 z 31

24 SAMOspłacający się dom SELFpaying house 2/2 100 thou = houses within 5 years = market worth 60 bn PLN: +1 pp GDP/year 50 thou new jobs (including 15 thou in construction sector) Polish companies participating in the project: BOŚ Bank S.A., Murator, Amica, Barlinek, Black Red White, Opoczno, Cersanit Required customer's own contribution: a plot of at least 2 thou m² Slajd 24 z 31

25 Portfolio Guarantee Line De Minimis BOŚ offers loans under the government program of loan guarantees granted by Bank Gospodarstwa Krajowego : Offer designed for SME Guaranteeing loans for current funding Amount of individual guarantee: up to 60% of the loan amount (max. PLN 3.5 m; max. 27 months) 0% margin fee (in the 1st year of the guarantee granted by 31 Dec 2013; 0.5% afterwards) Security for BGK - blank promissory note and statement of execution Slajd 25 z 31

26 Jessica JESSICA European Support for Sustainable Investment in City Areas - European Commission initiative developed in collaboration with the European Investment Bank and the Council of Europe Development Bank. It supports regeneration and sustainable urban development through financial engineering mechanisms. BOŚ Bank was the first institution in Europe which completed the project using the total amount of funds in one of the supported regions. BOŚ signed 20 contracts in 3 voivoidships. Slajd 26 z 31

27 Appendices Slajd 27 z 31 Slajd 27 z 31

28 Financial results of BOŚ S.A. Group thou PLN 1H H Change Y/Y Change YtD Interest income and similar income ,5% -54,7% Interest expense and similar charges ,6% -55,3% Net interest income ,0% -53,5% Fee and commission income ,3% -50,9% Fee and commission expense ,4% -49,3% Net commission & fee income ,8% -51,4% Dividend income ,8% 1,0% Net trading income ,5% 1,2% Result on investment securities ,4% -45,0% Result on hedge accounting x -106,5% Foreign exchange result ,0% -51,5% Other operating income ,3% 21,3% Other operating expenses ,2% -11,5% Net impairment loses ,4% -75,3% General administrative expenses ,2% -51,5% Gross profit ,4% 20,5% Income tax charge ,1% 135,9% Net profit ,6% 5,3% Slajd 28 z 31

29 Consolidated statement of financial position thou PLN Change Y/Y Change YtD Cash and deposits with the Central Bank ,8% -61,3% Deposits with other banks, loans and advances to other banks ,0% -13,5% Held-for-trading securities ,5% -69,4% Derivative financial instruments ,3% 28,9% Hedging derivatives x -31,7% Loans and advances to customers ,8% 3,0% Investment securities ,9% 26,9% Pledged assets x x Investment in assosiate ,0% 0,0% Intangible assets ,7% -0,9% Property, plant and equipment ,8% -3,9% Income tax assets ,0% -10,9% Other assets ,6% 23,2% Total assets ,2% 4,5% Amounts due to the Central Bank ,2% -64,9% Amounts due to other banks ,9% -5,4% Derivative financial instruments ,5% 15,3% Hedging derivatives x -7,3% Liabilities under banking securities issued ,0% 8,5% Amounts due to customers ,4% -11,4% Liabilities under banking securities issued ,9% -0,1% Subordinated debt ,3% -13,2% Provisions ,0% 96,4% Income tax liabilities ,1% 43,4% Other liabilities ,9% 0,7% Total equity and liabilities ,4% 4,5% Slajd 29 z 31

30 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. Slajd 30 z 31

31 Contact for Investors: Web page: Investor Relations Team 32, Żelazna Str Warszawa Slajd 31 z 31

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