BOŚ S.A. Group 3Q 2013

Transcription

1 BOŚ S.A. Group 3Q 2013

2 Key financial data of BOŚ S.A. Group (thou PLN) 1 3 Q Q 2013 Change YoY ROE Net interest income ,8% Net commission & fee income ,0% 2,9% 3,7% Net operating income ,6% Gross profit ,0% Q 2013 Net profit ,5% data at the end of given period (% / thou PLN) Change YoY C/I CAR 15,27% 15,24% 13,44% 1,83 p.p. customers ,3% Liabilities ,2% 80,0% 75,1% Assets ,6% Q 2013 Slajd 2z 30

3 Key information about BOŚ S.A. Group BOŚ S.A. Group Bank Ochrony Środowiska S.A. 100% 100% Struture Headquarters BOS Finance AB 99,62% Invest Management Banku Ochrony Środowiska S.A. S.K.A. Dom Maklerski Banku Ochrony Środowiska S.A. 17 Branches 11 Corporate centers 100% 0,38% 78 Operating branches BOŚ Eko Profit S.A. Shareholders Number of branches 43,38% 56,62% National Fund for Environmental Protection Others 3Q Q 2013 Slajd 3z 30

4 Management Board Mariusz Klimczak President of the Management Board Mr Klimczak coordinates the total body of the Bank activities, including Managerial and Organizing Division. In banking secor since 1996, in BOŚ since Stanisław Kolasiński Vice President First Deputy President of the Management Board Mr Kolasiński is in charge of Risk Division. In banking secor since 1992, in BOŚ since Przemysław Lech Figarski Vice President of the Management Board Mr Figarski is in charge of Retail Division. In banking secor since 1989, in BOŚ since Adam Zbigniew Grzebieluch Vice President of the Management Board Mr Grzebieluch is in charge of Support Division responsible for IT, telecoms and technology projects. In banking secor since 1994, in BOŚ since Krzysztof Wojciech Telega Vice President of the Management Board Mr Telega is in charge of Corporate and Treasury Divisions. In banking secor since 1991, in BOŚ since Slajd 4z 30

5 Customers of the Bank Source: Bank, numbers in thou Number of customers Number of customers using electronic channels 12 K 1 K Q Q Q Q 2013 Debit and credit cards* Number of accounts* 13 K 14 K Q Q 2013 * drop in the number of cards in connection with the exchange of cards from Maestro to Mastercard. Slajd 5z Q Q 2013 * Including savings accounts

6 Marcroeconomic background 1/2 GDP, consumption and investment dynamics Inflation 6,0 5,0 4,0 % r/r GDP consumption investment (right axis) % YoY ,0 % YoY CPI core inflation 3,0 2, ,0 1,0 5 0,0 0 2,0 1,0 5 2,0 1q09 3q09 1q10 3q10 1q11 3q11 1q12 3q12 1q ,0 Jan 09 Jul 09 Jan 10 Jul 10 Jan 11 Jul 11 Jan 12 Jul 12 Jan 13 Jul 13 Employment and salaries dynamics Unemployment rate % r/r % YoY % in thou. YoY 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 13 Jul Jan 09 Jul 09 Jan 10 Jul 10 Jan 11 Jul 11 Jan 12 Jul 12 Jan 13 Jul Slajd 6z 30

7 Marcroeconomic background 2/2 Deposits dynamics Loans dynamics % YoY % YoY deposits deposits of individuals deposits of institutions % YoY loans % YoY consumer loans institutional loans mortgages q09 3q09 1q10 3q10 1q11 3q11 1q12 3q12 1q q09 3q09 1q10 3q10 1q11 3q11 1q12 3q12 1q13 3q13 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 Jul 13 4,0 PLN/EUR PLN/USD (P) PLN/CHF (right axis) 3,5 Jan 09 Jul 09 Jan 10 Jul 10 Jan 11 Jul 11 Jan 12 Jul 12 Jan 13 Jul 13 2,5 2,0 Slajd 7z 30

8 Ratios of BOŚ S.A. Group Net interest margin vs net interest income (m PLN) 20 ROA vs total assets (bn PLN) 1,5% ,0% 18 1,0% ,7% 1,8% 1,8% 1,7% 1,5% Q Q 2013 Net interest income Net interest margin (right axis) 2,0% 1,0% 0,0% ,5% 18,0 0,4% 15,2 16,9 16,4 15,6 0,2% 0,3% 0,3% Q Q 2013 Total assets ROA (right axis) 0,5% 0,0% ROE vs capital (m PLN) 10% C/I vs total income (m PLN) ,3% 5,6% ,9% 3,2% 3,7% 8% 6% 4% 2% ,6% ,4% 80,0% ,3% 75,1% % 80% 70% 60% Q Q % Q Q % Capital ROE (right axis) Total income C/I (right axis) Slajd 8z 30

9 Financial results of BOŚ S.A. Group m PLN Item Q1 Q Q1 Q Change Gross profit 39% Net interest income ,8% Net commission & fee income ,0% Dividend income ,2% Net operatin income ,8% Result on investment securities ,8% Net income on hedge accounting x Foreign exchange result ,3% Operating profit ,6% General administrative expenses ,9% Net impairment loses ,4% Net profit ,5% Assets ,6% Loans & cash advances to customers ,3% Deposits ,2% Fee and commission income (m PLN) Q Q 2013 Higher operating profit by 2,6% Higher net impairment loses by 10,4% Lower general administrative expenses by 1,9% Total assets (m PLN) 10% % Q Q Q Q 2013 Slajd 9z 30

10 Interest and fee income Net interest income of BOŚ S.A. Group (m PLN) Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 Net fee and commission income of BOŚ S.A. Group (m PLN) After 2Q another quarterly improvement in net interest income and net fee and commission income. Quarterly increase of the Group s net interest income by 4,5% and net fee and commission income by 5,3%. Higher net commission income in DM BOŚ (3Q vs. 2Q 2013) Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 Slajd 10 z 30 Bank Subordinates

11 Result on banking activities of BOŚ S.A. Group Result on banking activities of BOŚ S.A. Group (m PLN) 11% 7% % 61% 12% 22% 11% 56% Net fee and commission income + 3,1 m Y/Y Operating income +9.0 m Y/Y 1 3Q Q 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% % 53% % % 22% 60% Slajd 11 z 30

12 Thou Cost of credit BOŚ S.A. Group (m PLN) ,37% Q Q ,47% 0,44% 0,47% 0,0% 0,2% 0,4% 0,6% BOŚ S.A. Group net impairment loses per quarter (thou PLN) 3Q Q Net impairment loses Risk margin (right axis) 0,8% -80 Net impairment loses rise by 10,4% Y/Y Risk margin rise by 0,03 pp Y/Y Risk Margin annualized net impairment loses for given period / average balance of gross loans and advances to customers for given period. Retail (m PLN) 1,0% The rise by 117,1% (3Q 2013 vs. 3Q 2012) due to additional allowances for one client from construction sector. Corporate and public finance (m PLN) Thou Q Q ,31% 14 0,47% 22 0,45% 0,75% 16 0,0% -0,5% -1,0% Thou Q Q ,37% ,43% 25 0,49% 0,57% 0,0% -0,2% -0,4% -0,6% -40-0,8% -30 Net impairment loses 27 Risk margin (right axis) -1,5% Net impairment loses Risk margin (right axis) -1,0% Slajd 12 z 30

13 Balance sheet Item vs Change m PLN vs Loans and advances to customers % 5% Higher volumes: Loans +6% Y/Y Amounts due to customers +12% Y/Y Total assets + 10% Y/Y Derivative financial instruments % 19% Cash and deposits with the Central Bank % 43% Deposits with other banks, loans and advances to other banks % 3% Other assets % 37% Assets structure 9% Total assets % 7% Amounts due to customers % 9% Amounts due to other banks % 17% 26% Loans and advances to customers Securities Liabilities under banking securities issued % 4% Other liabilities % 15% 65% Cash and other assets Total equity % 0% Total liabilities % 7% Credits / Deposits 91,1% 94,2% 96,1% 5,1 p.p. 3,2 p.p Total assets (m PLN) Liabilities structure 4% 3% 8% 14% Amounts due to customers Liabilities under banking securities issued Amounts due to other banks Other liabilities 71% Equity Slajd 13 z 30

14 Liabilities per division Category Division Customers Corporate and public finance (5,3 bn PLN) Corporate customers (4,3 bn PLN) Public finance (1,0 bn PLN) BOŚ S.A. Group Amounts due to customers (12,9 bn PLN) Retail clients (5,4 bn PLN) Ecological funds (0,5 bn PLN) Debt securities issued (2,5 bn PLN) Loans from financial institutions and ecolological funds (2,2 bn PLN) Loans and advances from international financial institutions (1,2 bn PLN) Subordinated debt (0,3 bn PLN) Ecological funds resources intended for lending (0,5 bn PLN) Slajd 14 z 30

15 Gross loans and advances per division Division Customer group including Loan portfolio (capital as of ) of which eco loan portfolio Corporate clients (4,2 bn PLN) Medium and large enterprises 2,4 bn PLN Corporate and public finance Public finance (2,9 bn PLN) Small enterprises Local governments 1,8 bn PLN 2,5 bn PLN 2,44 bn PLN (34,4% of the corporate and public finance division s loan portfolio) BOŚ S.A. Group Municipal entreprises 0,4 bn PLN Retail Retail clients (4,9 bn PLN) Microenterprises and homeowner associations Retail clients 0,2 bn PLN 4,7 bn PLN 0,17 bn PLN (3,5% of the retail division s loan portfolio) Slajd 15 z 30

16 Eco loans Balance of eco-loans (m PLN) 24% Constant increase of eco loans share. 6% % 8% 48% % 36% Retail Public finance Corporate Eco-loans sales (m PLN) 222% 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. 14% 6% 10% % 20% % Retail Corporate Public finance Q Q 2013 Slajd 16 z 30

17 Lending portfolio quality % 41% Retail Public finance Corporate % % 31% % 1% 1% 52% 47% 52% 47% Gross loans and advances 318 Write offs 295 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% 14,0% 12,9% 8,9% 8,4% 8,2% 6,2% 3,3% 4,8% 5,9% 5,8% 5,8% 4,1% 4,1% 4,0% Q Q 2013 Slajd 17 z 30 Corporate and public finance loans Mortgages Other retail Retail total

18 Brokerage DM BOŚ Number of accounts at the end of 3Q 2013 (thou) Number of new accounts (thou) 80,0 70,0 60,0 50,0 40,0 30,0 20,0 10,0 0,0 Source: Bank 70,9 60,3 9,5 Forex Internetowe Ogółem 7,0 6,0 5,0 4,0 3,0 2,0 1,0 0,0 2,0 6,5 5,1 4,4 2,9 1,9 1,3 1,6 1, Q Q 2013 Forex Internet General Market shares (sessions transactions) Shares Futures Options 21,8% 22,1% 14,8% 14,4% 19,9% 17,9% 2,1% 2,0% 2,6% Source: WSE Q Q Q Q Q Q 2013 Slajd 18 z 30

19 Important events for BOŚ Bank in 3Q 2013 Events BOŚ ATMs joined Euronet. Opening of the first completed investment under JESSICA initiative in Pomerania Stary Browar Kościerzyna. Over 1,5 bn PLN of newly signed credit agreements in Awards Best Cash loan for 3000 PLN ranked by Money.pl. BOŚ in the top banks in the category of "quality" in the Forbes ranking of evaluating a bank offer for companies. Bank s economists were awarded by Gazeta Giełdy Parkiet first place in the economic forecast ranking after the third quarter. The first place for holiday cash loan in Comperia ranking. Third place in Gazeta Finansowa ranking of the most dynamic factors. Konta Elastycznego z Taryfą Optymalną one of the four best accounts for companies according to Bankier.pl. Loan with no contribution one of the three best ion the market according to Comperia.pl. Konto Elastyczne z Taryfą Oszczędną among the cheapest accounts for companies according to Tax Care. Slajd 19 z 30

20 Important events for DM BOŚ in 3Q 2013 Expansion of product offer Bossa Zagranica access to on line investing in shares of companies on foreign exchanges (NYSE, NASDAQ, LSE, Deutsche Boerse). Equity CFD opportunity to trade in shares listed on the Warsaw Stock Exchange through the platform BOSSAFX under CFD. BossaFund investment products from Noble Funds TFI were implemented; at the end of September BossaFund offered 167 investment funds managed by 15 investment companies. Awards and prizes Second place in the ranking of Forbes magazine and SII for the best brokerage for retail investors the eighth season on the podium. Participation in the consolidation of the market Customer acquisition implementation of the decision of FSA on the transfer of client assets from DnB Nord Brokerage to DM BOŚ. The largest increase in market volume of new investment accounts in Slajd 20 z 30

21 New projects and products Slajd 21 z 30 Slajd 21 z 34

22 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 22 z 30

23 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 23 z 30

24 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 24 z 30

25 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 23 contracts in 3 voivoidships. Slajd 25 z 30

26 Appendices Slajd 26 z 34 Slajd 26 z 30

27 Financial results of BOŚ S.A. Group thou PLN Q1 Q Q1 Q Change Y/Y Interest income and similar income ,9% Interest expense and similar charges ,1% Net interest income ,8% Fee and commission income ,4% Fee and commission expense ,8% Net commission & fee income ,0% Dividend income ,2% Net trading income ,8% Result on investment securities ,8% Result on hedge accounting ,8% Foreign exchange result ,3% Other operating income ,1% Other operating expenses ,6% Net impairment loses ,4% General administrative expenses ,9% Gross profit ,0% Income tax charge ,3% Net profit ,5% Slajd 27 z 30

28 Consolidated statement of financial position thou PLN Change Y/Y Change YtD Cash and deposits with the Central Bank ,3% 42,5% Deposits with other banks, loans and advances to other banks ,0% 2,6% Held for trading securities ,5% 771,2% Derivative financial instruments ,1% 34,8% Hedging derivatives ,6% 29,7% Loans and advances to customers ,3% 5,3% Investment securities ,4% 18,9% Investment in assosiate ,0% 0,0% Intangible assets ,4% 0,5% Property, plant and equipment ,1% 4,4% Income tax assets ,7% 0,4% Other assets ,5% 14,9% Total assets ,6% 6,7% Amounts due to the Central Bank ,0% 73,6% Amounts due to other banks ,5% 16,6% Derivative financial instruments ,8% 35,5% Hedging derivatives ,8% 41,6% Liabilities under banking securities issued ,2% 8,9% Amounts due to customers ,2% 3,6% Liabilities under banking securities issued ,1% 0,5% Subordinated debt ,0% 25,5% Provisions ,0% 163,9% Income tax liabilities ,8% 58,0% Other liabilities ,2% 0,3% Total equity and liabilities ,6% 6,7% Slajd 28 z 30

29 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 29 z 30

30 Contact for Investors: E mail: Web page: BOŚ Bank S.A. Investor Relations Team 32, Żelazna Str Warszawa Slajd 30 z 30