BOŚ S.A. Group 3Q 2014

Transcription

1 BOŚ S.A. Group 3Q 2014

2 Key financial data of BOŚ S.A. Group BOŚ S.A. Group thou PLN 3Q Q Q Q 2013 Change 3Q 2014 vs.2q 2014 Change 3Q 2014 vs. 3Q 2013 Net interest income ,0% 2,1% Net commission & fee income ,6% -5,1% Net operating income ,8% 18,1% Gross profit ,0% 1945,2% Net profit ,2% 2076,5% Assets (m PLN) ,0 14,0 12,0 10,0 8,0 6,0 4,0 2,0 0,0 91% Loans and deposits (m PLN) 84% 92% 12,1 13,2 14,2 12,0 12,3 13, Loans Deposits Loans/deposits 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 12 Net profit (m PLN) Q Q Q 2014 Eco-loans in total loans balance 25,76% 23,10% 21,73% CAR and Tier1 12,39% 12,06% 10,30% 9,80% CAR Tier1 12,75% 9,90% Slajd 2 z

3 Key information about BOŚ S.A. Group BOŚ S.A. Group 100% BOS Finance AB BOŚ Ekosystem sp. z o.o. 100% Bank Ochrony Środowiska S.A. 100% BOŚ Eko Profit S.A 99,52% BOŚ Invest Management Sp. z o.o. 100% MS Wind Sp. z o.o. 0,48% 100% 99,998% 100% Dom Maklerski Banku Ochrony Środowiska S.A. BOŚ Nieruchomości Sp. z o.o. 0,002% BOŚ Nieruchomości Sp. z o.o. SKA Structure 17 Branches 78 Operating branches Headquarters 11 Corporate centers Shareholders Number od branches 38,22% 56,62% ,16% NFOŚiGW ING OFE and ING DFE Others 3Q Q 2014 Slajd 3 z 33

4 Management Board Mariusz Klimczak President of the Management Board, Bank Ochrony Środowiska S.A. Mr Klimczak coordinates the total body of the Bank activities, including Managerial and Organizing Division. In banking sector since 1996, in BOŚ S.A. since Stanisław Kolasiński Vice-President First Deputy President of the Management Board of Bank Ochrony Środowiska S.A. Mr Kolasiński is in charge of Risk Division. In banking sector since 1992, in BOŚ S.A. since Dariusz Daniluk Vice-President the Management Board Banku Ochrony Środowiska S.A. Mr Daniluk was appointed Vice-President of the Management Board of BOŚ S.A. as of 5 May 2014 to oversee the corporate market area. Adam Zbigniew Grzebieluch Vice-President of the Management Board, Bank Ochrony Środowiska S.A. Mr Grzebieluch is in charge of Support Division responsible for IT, telecoms and technology projects. In banking sector since 1994, in BOŚ S.A. since Paweł Kazimierz Lemańczyk Vice-President of the Management Board, Bank Ochrony Środowiska S.A. Mr Lemańczyk was appointed Vice-President of the Management Board of BOŚ S.A. as of 5 May 2014 to oversee the retail market area. Slajd 4 z 33

5 Customers of the Bank Source: Bank, numbers in thousands Number of customers Number of customers using electronic channels Q Q Q Q 2014 Debit and credit cards* Number of accounts* Slajd 5 z Q Q 2014 * drop in the number of cards in connection with the exchange of cards from Maestro to Mastercard and ending cooperation with VISA Q Q 2014 * Including savings accounts

6 Marcroeconomic background 1/2 GDP, consumption and investment dynamics 6,0 % r/r GDP consumption investment (right axis) % r/r 30 6,0 5,0 % r/r CPI core inflation Inflation 5,0 25 4,0 4,0 3,0 2,0 1, ,0 2,0 1,0 0,0 0 0,0-1,0-2, , Employment and wages dynamics % r/r % r/r Unemployment rate % tys. r/r employment real wage (right axis) nominal wage (right axis) annual change in number of unemployed unemployment rate Slajd 6 z 33

7 Marcroeconomic background 2/2 Deposits dynamics Loans dynamics 30 % r/r deposits deposits od individuals % r/r deposits of institutions % r/r loans consumer loans % r/r institutional loans mortgages ,0 % Interest rates 5,0 PLN PLN exchange rate 4,0 3,5 5,0 4,5 3,0 3,0 NBP reference rate WIBOR 3M 5y bond yield 4,0 PLN/EUR PLN/USD (right axis) PLN/CHF (right axis) 2,5 1,0 3,5 2,0 Slajd 7 z 33

8 Ratios of BOŚ S.A. Group Net interest margin vs net interest income (m PLN) ROA vs total assets (bn PLN) 350 3,0% 20 1,5% ,8% 1,6% 1,5% 1,6% Q Q ,0% 1,0% 0,0% ,0 19,0 16,9 18,4 0,4% 0,4% 0,2% 0,3% Q Q ,0% 0,5% 0,0% Net interest income Net interest margin (right axis) Total assets ROA (right axis) ROE vs capital (m PLN) 10% C/I vs total income (m PLN) ,6% ,5% ,7% ,1% % 6% 4% 2% ,5% ,1% ,8% ,2% % 80% 70% 60% Q Q % Q Q % Capital ROE (right axis) Total income C/I (right axis) Slajd 8 z 33

9 Financial results of BOŚ S.A. Group for 1Q, 2Q and 3Q thou PLN Item 3Q Q Q 2014 Change 3Q vs. 2Q Net interest income Net commission & fee income Dividend income Net operating income Result on investment securities Net income on hedge accounting Foreign exchange result Operating profit General administrative expenses Net impairment loses Gross profit Net profit Better results in 3Q: Net fee and commission income +6.6% Net profit +1.2% Net operating income % Zysk Net netto profit Grupy (m PLN) BOŚ (mln zł) Operating profit (m PLN) Slajd 9 z 33 1Q Q Q Q Q Q 2014

10 Financial results of BOŚ S.A. Group for 1-3Q thou PLN Item 1-3Q Q 2013 Change Change % Net interest income ,6% Net commission & fee income ,6% Dividend income ,5% Net operating income ,6% Result on investment securities ,5% Net income on hedge accounting ,8% Foreign exchange result ,7% Operating profit ,4% General administrative expenses ,4% Net impairment loses ,4% Gross profit ,3% Net profit ,0% Better results in 1-3Q: net profit 43,0% operating profit 8,4% net interest income o 9,6% Net profit (m PLN) Operating profit (m PLN) 40,4 57, Q Q Q Q 2014 Slajd 10 z 33

11 Result on banking activities of BOŚ S.A. Group Result on banking activities of BOŚ S.A. Group (m PLN) m 10,7% 12,4% 11,6% 11,3% ,7% 56,0% ,7% 56,6% 1-3Q Q 2014 Net interest income Net fee and commission income Net trading income Others Result on banking activities of BOŚ S.A. Group (m PLN) in Slajd 11 z

12 Thou Cost of credit BOŚ S.A. Group (m PLN) Q Q ,0% ,45% -60-0,51% -41-0,47% -39-0,42% -0,2% -0,4% -0,6% Risk margin change by 0.05 p.p. YoY. -60 Net impairment loses Risk margin (right axis) -0,8% -80 Risk Margin annualized net impairment loses for given period / average balance of gross loans and advances to customers for given period. -1,0% BOŚ S.A. Group net impairment loses per quarter (thou PLN) 3Q Q Q Q ,8-10,8-14,2-14,3 3Q 2014 similar to 2Q 2014, but better than 3Q Slajd 12 z 33

13 Balance sheet of BOŚ S.A. Group Item m PLN Loans and advances to customers ,9% Derivative financial instruments ,9% Cash and deposits with the Central Bank ,7% Deposits with other banks, loans and advances to other banks ,7% Other assets ,3% Total assets ,4% Amounts due to customers ,5% Amounts due to other banks ,2% Liabilities under banking securities issued Change ,7% Other liabilities ,9% Total equity ,5% Total liabilities ,4% Higher volumes vs the end of 2013: Loans and advances +1.9% Amounts due to customers +1,5% Total assets +3.4% Assets - structure 25,5% 10,1% 64,5% Loans and advances to customers Securities Cash and other assets Credits / Deposits 91,7% 91,3% 0,4 p.p. Total assets (m PLN) Liabilities - structure ,1% 2,0% 14,4% 8,1% Amounts due to customers Liabilities under banking securities issued Amounts due to other banks Other liabilities 70,3% Equity Slajd 13 z 33

14 Liabilities per division Category Division Customers Corporate and public finance (5.0 bn PLN) Corporate customers (4.1 bn PLN) Public finance (0.9 bn PLN) BOŚ S.A. Group Amounts due to customers (13.4 bn PLN) Retail clients (6.3 bn PLN) Ecological funds (0.5 bn PLN) Debt securities issued (2.75 bn PLN) Loans from financial institutions and ecolological funds (2.0 bn PLN) Loans and advances from international financial institutions (1.2 bn PLN) Subordinated debt (0.6 bn PLN) Other clients (0.1 bn PLN) Ecological funds resources intended for lending (0.3 bn PLN) Slajd 14 z 33

15 Gross loans and advances per division Division Customer group including Loan portfolio (capital as of ) of which eco-loan portfolio Corporate clients (5.1 bn PLN) Medium and large enterprises 2.2 bn PLN Corporate and public finance Public finance (2.6 bn PLN) Small enterprises Local governments 2.9 bn PLN 2.3 bn PLN 3.1 bn PLN (39.7% of the corporate and public finance division s loan portfolio) BOŚ S.A. Group Municipal entreprises 0.3 bn PLN Retail Retail clients (4.8 bn PLN) Microenterprises and homeowner associations Retail clients 0.15 bn PLN 4.68 bn PLN 0.17 bn PLN (3.4% of the retail division s loan portfolio) Slajd 15 z 33

16 Eco-loans Balance of eco-loans (bn PLN) 23% Constant increase of eco-loans share in total loans. 6% 7% 30% Retail 2,2 2,8 2,6 44% 48% 3,2 65% Public finance Corporate Eco-loans sale (bn PLN) 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. 18% 8% 5% 0,8 2,2 1,5 9% 5% 86% 1,6 87% Retail Corporate Public finance Slajd 16 z Q Q 2014

17 Lending portfolio quality bn PLN 24% Retail 40% Corporate % 12,4 12,1 Public finance 21,4% 40,2% 38,4% 1% 12,6 0,6% 12,3 57% 42% 48,7% 50,6% -0,3 Gross loans and advances Write-offs Net loans and advances Ratio of non-performing loans by segments -0,3 Gross loans and advances Write-offs Net loans and advances 16,1% 11,1% 5,4% 5,4% 5,5% 4,2% 5,6% 7,5% Slajd 17 z 33 Corporate and public finance loans Mortgages Other retail Retail total

18 Brokerage DM BOŚ Number of accounts at the end of September 2014 (in thou) 100,0 80,0 60,0 40,0 68,2 78,0 Number of new accounts at the end of September 2014 (in thou) 6,0 5,1 5,0 5,0 4,0 3,0 2,0 20,0 10,6 1,0 0,7 Source: Bank 0,0 Forex Internet Total 0,0 Forex Internet Total Market shares (sessions transactions) Shares 20,2% Futures 19,9% 20,8% Opcje Options 17,8% 17,9% 17,4% 2,7% 2,6% 2,5% Source: WSE Q Q Q Q Q Q 2014 Slajd 18 z 33

19 Important events for BOŚ Bank in 3Q 2013 Important events Balance of eco-loans as at 30 September 2014 amounted to PLN 3,25 bn PLN, which accounted for 25.8% of the total loan balance. Expansion of product offer The new package of insurance for ecological loans BOS EKOsystem and BOS EkoKredyt PV. The promotion for consolidation and cash loan - loan period extended up to 150 months. Changes of commissions and fees to increase the transparency of documents addressed to clients, as well as the Bank's fee and commission income. Prizes and awards 1st place in the ranking for the best macroeconomic analyst, Puls Biznesu (July and October 2014) 1st place in the ranking of MdM mortgages, TotalMoney.pl (August 2014) 1st place in the ranking of the monthly deposits, Rzeczpospolita (September 2014) 2nd place in the in the ranking for the best loan for 1000 PLN, ebroker.pl (September 2014) 2nd place in the ranking for the best macroeconomic analyst, Gazeta Giełdy Parkiet (July 2014) 2nd place in the ranking of MdM mortgages, Forsal.pl (July 2014) 3rd place in the ranking of loans and cash loans, ebroker.pl (July 2014) 3rd place in the ranking of cash loans, TotalMoney.pl (August 2014) Slajd 19 z 33

20 Important events for DM BOŚ in 3Q 2014 Expansion of product offer BossaFX new commodity-linked financial instruments (cocoa, cotton, sugar) and new financial instruments on the foreign exchange market (US Dollar Index Futures). BossaFund introduction of 6 new investment funds managed by Superfund; at the end of September BossaFund offered investment funds managed by 20 investment companies. The introduction of new tools to support investment BossaMobile Android and ios mobile application which enables users full brokerage account management, including placing orders directly from the listing table. Intraday account reduced margin for daytraday positions in the futures market. Pattern Recognizer application of algorithmic technical analysis to trading platform BOSSAFX. Mobile listing for smartphones with Windows Phone. Prizes and awards 2nd place in the ranking of Forbes magazine and SII for the best brokerage house for individual investors 9th season on the podium. Slajd 20 z 33

21 Slajd 21 z 33 New projects and products

22 Innovative Bank w Interet Challenge Solution Implementation Increased growth of new customers acquisition BOSSABANK - innovative solution for new customers allowing to temporary "park" their funds, medium-term savings at an attractive price and to invest in the market of investment funds in conjunction with insurance protection. Increase loyalty and sales to existing customers EKO-POLSKA is a meeting place for ecocommunity and people who believe in the credo "I + eco" and the essence of BOŚ mission, promoting healthy lifestyles, environmental solutions, with a possibility to use BOŚ credit offer. Sales and automation of communication with clients without visiting the branch office New intrenet pages adjusting financial offer for the purpose of reducing the cost of living, especially in terms of energy bills, through OZE solutions and eco-product specialization of the Bank. Slajd 22 z 33

23 BOŚ EKOsystem hybrid heating system Includes: Boiler Solar module PV instalation Heat pump HEAT PUMP HEATING Solar collector PV instalation Heat pump Benefits for clients: Savings in operating costs. Comfort and convenience in use. Health and safety. Innovation and full control. Extra space. IT solutions supplier Insurance package Management and energy storage Slajd 23 z 33

24 BOŚ EKOsystem who can benefit? Those interested in a comprehensive solution that will serve in the newly built house. People interested in replacing conventional boiler (eg coal), looking for savings in the cost of house heating. BOŚ EKOsystem in 5 steps: Placing an order for BOŚ EKOsystem. Recommendation of the best solution. Formalities in one place. Finding the funding. Usage of BOŚ EKOsystem. Slajd 24 z 33

25 SAMOspłacający się dom SELFpaying house 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. 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 25 z 33

26 EkoKredyt PV EcoCredit PV Domestic photovoltaic installations - own electricity for your house: Real savings in the household budget. Innovation and full control. Comfort and convenience in use. Ecology and energy security. The comprehensive offer of the Bank: Help from the ecology advisers the best financing of photovoltaic installation. 20% discount on the purchase and installation of photovoltaic system through collaboration with suppliers. Help in completing the formalities. Preferential financing up to 100% of investment costs. Insurance. Slajd 26 z 33

27 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 S.A. was the first institution in Europe which used the whole amount of JESSICA funds in one of the supported regions. BOŚ signed 42 contracts in 3 voivoidships. Slajd 27 z 33

28 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 28 z 33

29 Slajd 29 z 33 Appendices

30 Financial results of BOŚ S.A. Group thou PLN 1-3Q Q 2013 Change Y/Y Interest income and similar income ,1% Interest expense and similar charges ,2% Net interest income ,6% Fee and commission income ,5% Fee and commission expense ,2% Net commission & fee income ,6% Dividend income ,5% Net trading income ,6% Result on investment securities ,5% Result on hedge accounting ,8% Foreign exchange result ,7% Other operating income ,3% Other operating expenses ,1% Net impairment loses ,4% General administrative expenses ,4% Gross profit ,3% Income tax charge ,8% Net profit ,0% Slajd 30 z 33

31 Consolidated statement of financial position thou PLN Change Y/Y Cash and deposits with the Central Bank ,7% Deposits with other banks, loans and advances to other banks ,7% Held-for-trading securities ,3% Derivative financial instruments ,5% Hedging derivatives ,7% Loans and advances to customers ,9% Investment securities ,9% Investment in assosiate ,0% Intangible assets ,6% Property, plant and equipment ,5% Income tax assets ,5% Other assets ,7% Total assets ,4% Amounts due to the Central Bank ,2% Amounts due to other banks ,2% Derivative financial instruments ,4% Hedging derivatives ,7% Deposits from customers ,5% Liabilities under banking securities issued ,7% Subordinated debt ,7% Provisions ,0% Income tax liabilities ,3% Other liabilities ,4% Equity ,5% Total equity and liabilities ,4% Slajd 31 z 33

32 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 32 z 33

33 Contact for Investors: Web page: BOŚ Bank S.A. Investor Relations Team 32, Żelazna Str Warszawa Slajd 33 z 33