Key financial data of BOŚ S.A. Group

Transcription

1 BOŚ S.A. Group 2013

2 Key financial data of BOŚ S.A. Group BOŚ S.A. Group Change Y/Y ROE (Group) Net interest income ,0% Net commission & fee income ,3% Net operating income ,5% Gross profit ,8% Net profit ,7% Loans & cash advances to customers ,4% Deposits ,7% Assets ,2% 2,6 4, Bank Change Y/Y C/I (Group) Net interest income ,7% Net commission & fee income ,0% Net operating income ,3% Gross profit ,6% Net profit ,7% Loans & cash advances to customers ,5% Deposits ,8% Assets ,3% 80,5% 73,1% Slajd 2 z 35

3 Key information about BOŚ S.A. Group BOŚ S.A. Group 100% BOS Finance AB 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% % 100% Dom Maklerski Banku Ochrony Środowiska S.A. BOŚ Nieruchomości Sp. z o.o % BOŚ Nieruchomości Sp. z o.o. SKA Structure 17 Branches 78 Operating branches Headquarters 11 Corporate centers Shareholders Number of branches 43,38% 56,62% National Fund for Environmental Protection Others Slajd 3 z 35

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 4 z 35

5 Customers of the Bank Source: Bank, numbers in thou Number of customers Number of customers using electronic channels +14 K +0,5 K Debit and credit cards* Number of accounts* -16 K +17 K * drop in the number of cards in connection with the exchange of cards from Maestro to Mastercard. * Including savings accounts Slajd 5 z 35

6 Marcroeconomic background 1/2 GDP, consumption and investment dynamics Inflation 6,0 % YoY GDP consumption investment (right axis) % YoY 5, ,0 % YoY CPI core inflation 4,0 3, ,0 2,0 10 1,0 0, ,0-1,0-5 -2,0-10 0,0 Employment and salaries dynamics Unemployment rate % YoY % YoY % YoY (K) employment real salary (right axis) nominal salary (right axis) annual change in number of unemployed unemployment rate Slajd 6 z 35

7 Marcroeconomic background 2/2 Deposits dynamics Loans dynamics 30 deposits deposits od individuals % YoY % YoY 25 deposits of institutions % YoY % YoY loans consumer loans institutional loans mortgages ,0 % Interest rates 5,0 PLN PLN exchange rate 4,0 5,0 4,5 3,5 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 35

8 Ratios of BOŚ S.A. Group Net interest margin vs net interest income (m PLN) ROA vs total assets (bn PLN) ,7% 1,7% 1,7% 1,6% 1,8% 1,8% 1,8% 287 1,5% Net interest income Net interest margin (right axis) Net interest margin for Bank (right axis) 3,0% 2,0% 1,0% 0,0% ,2 18,4 15,6 16,9 0,5% 0,4% 0,4% 0,4% 0,4% 0,3% 0,4% 0,2% Total assets ROA (right axis) ROA for Bank (right axis) 1,5% 1,0% 0,5% 0,0% ROE vs capital (m PLN) C/I vs total income (m PLN) % ,3% 5,6% 5,6% 5,5% ,4% ,4% 2,6% 4,5% 8% 6% 4% 2% ,0% 76,6% ,5% 76,4% ,4% 74,1% ,1% 70,4% % 80% 70% 60% % % Slajd 8 z 35 Capital ROE (right axis) ROE for Bank (right axis) Total income C/I (right axis) C/I for Bank

9 Financial results of BOŚ S.A. Group Item Change thou PLN % 75 Net interest income ,0% Net commission & fee income ,3% Dividend income ,2% Net operatin income ,4% Result on investment securities ,0% Net income on hedge accounting ,1% Foreign exchange result ,6% Operating profit ,5% General administrative expenses ,8% Net impairment loses ,1% Net profit ,7% Assets ,2% Loans & cash advances to customers ,4% Deposits ,7% Gross profit Higher operating profit by 6.5% Decrease of general administrative expenses by 1.8% Growth of loans by 8.4% 38 Fee and commission income (m PLN) Total assets (m PLN) 4% 9% Slajd 9 z 35

10 Interest and fee income Net interest income of BOŚ S.A. Group (m PLN) After 2Q another quarterly improvement in net interest income and net fee and commission income. 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Net fee and commission income of BOŚ S.A. Group (m PLN) Quarterly increase of the Group s net interest income by 11.9% and net fee and commission income by 9.2%. Net commission income in DM BOŚ higher by 22.7% (4Q vs. 3Q 2013) Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Slajd 10 z 35 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% % 60% % 22% 9% 55% Net fee and commission income +9.4 m Y/Y Operating income m Y/Y 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 35

12 Thou Thou Thou Cost of credit BOŚ S.A. Group (m PLN) ,37% -0,46% -0,51% 0,0% -0,2% -0,4% -0,6% BOŚ S.A. Group net impairment loses per quarter (thou PLN) 4Q Q Net impairment loses Risk margin (right axis) -0,8% -80 Net impairment loses deterioration by 15.1% Y/Y Risk margin rise by 0.05 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 26.5% (4Q 2013 vs. 4Q 2012) due to additional provision for loans granted to client from construction sector. Corporate and public finance (m PLN) ,0% ,0% -10-0,31% -14-0,47% -0,28% ,5% ,37% -38-0,2% -0,4% -20-1,0% ,58% -0,67% -47-0,6% -0,8% -30 Net impairment loses Risk margin (right axis) -1,5% Net impairment loses Risk margin (right axis) -1,0% Slajd 12 z 35

13 Balance sheet m PLN Loans and advances to customers ,4% Derivative financial instruments ,6% Cash and deposits with the Central Bank ,0% Deposits with other banks, loans and advances to other banks ,2% Other assets ,5% Total assets ,2% Amounts due to customers ,7% Amounts due to other banks ,8% Liabilities under banking securities issued Item Change ,7% Other liabilities ,2% Total equity ,7% Total liabilities ,2% Higher volumes: Loans +8.4% Y/Y Amounts due to customers +11.7% Y/Y Total assets + 9.2% Y/Y 26% Assets - structure 9% 65% Loans and advances to customers Securities Cash and other assets Credits / Deposits 91,3% 94,1% -2,8 p.p Total assets (m PLN) Liabilities - structure 2% 3% 8% 15% Amounts due to customers Liabilities under banking securities issued Amounts due to other banks Other liabilities 72% Equity Slajd 13 z 35

14 Liabilities per division Category Division Customers Corporate and public finance (5.6 bn PLN) Corporate customers (4.7 bn PLN) Public finance (0.9 bn PLN) BOŚ S.A. Group Amounts due to customers (13.2 bn PLN) Retail clients (5.2 bn PLN) Ecological funds (0.6 bn PLN) Debt securities issued (2.7 bn PLN) Loans from financial institutions and ecolological funds (2.3 bn PLN) Loans and advances from international financial institutions (1.3 bn PLN) Subordinated debt (0.3 bn PLN) Other clients (0.1 mld zł) Ecological funds resources intended for lending (0.4 bn PLN) Slajd 14 z 35

15 Gross loans and advances per division Division Customer group including Loan portfolio (capital as of ) of which eco-loan portfolio Corporate clients (4.5 bn PLN) Medium and large enterprises 2.4 bn PLN Corporate and public finance Public finance (2.9 bn PLN) Small enterprises Local governments 2.1 bn PLN 2.5 bn PLN 2.67 bn PLN (35.9% of the corporate and public finance division s loan portfolio) BOŚ S.A. Group Municipal entreprises 0.3 bn PLN Retail Retail clients (4.9 bn PLN) Microenterprises and homeowner associations Retail clients 0.2 bn PLN 4.7 bn PLN 0.18 bn PLN (3.6% of the retail division s loan portfolio) Slajd 15 z 35

16 Eco-loans Balance of eco-loans (m PLN) 29% Constant increase of eco-loans share in total loans. 6% % 8% 46% % 34% Retail Public finance Corporate Eco-loans sales (m PLN) % % 22% 66% 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. 11% 5% 84% Retail Corporate Public finance Slajd 16 z

17 Lending portfolio quality 24% 40% Retail Corporate 28% 41% Public finance % % % 1% 57% 42% 52% 47% Gross loans and advances -305 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% 12,9% 11,1% 6,2% 3,3% 4,8% 7,1% 5,6% 5,4% 5,6% 4,0% 4,2% Slajd 17 z 35 Corporate and public finance loans Mortgages Other retail Retail total

18 Brokerage DM BOŚ Number of accounts at the end of 2013 (thou) Number of new accounts (thou) 10,0 9,0 9,0 8,7 80,0 73,0 8,0 70,0 63,1 7,0 60,0 50,0 40,0 30,0 20,0 10,0 0,0 Source: Bank 9,9 Forex Internet General 6,0 5,0 4,0 3,0 2,0 1,0 0,0 2,0 5,1 4,4 1, Forex Internet General Market shares (sessions transactions) Shares Futures Options 21,8% 14,8% 20,2% 17,8% 2,1% 2,7% Source: WSE Slajd 18 z 35

19 Important events for BOŚ Bank in 2013 Confirmation of the Bank's long-term rating at 'BBB' by Fitch Ratings. BOŚ S.A. was the first institution in Europe which used the whole amount of JESSICA funds in one of the supported regions. First accomplished investments within JESSICA Initiative: Stary Browar in Kościerzyna, new kindergardens in Jastrzębiu-Zdroju, Multicentrum Stara Kablownia in Czechowice-Dziedzice and diagnostic and medical center in Kołobrzeg. Supporting customers with the Bank's web-based platform with transactional service BossaFund. Extending the portfolio to 16 investment management companies and 195 investment funds. BOŚ ATMs joined Euronet. Almost 2.2 bn PLN of newly signed eco-credit agreements in The dynamics of factoring turnover in BOŚ was higher over 40 % - the turnover increased from PLN 1.18 bn to more than PLN 1.65 bn. Slajd 19 z 35

20 Awards for BOŚ Bank in 2013 BOŚ S.A. was among four Polish companies listed in the EU ranking of enterprises financing and focusing on innovation (EU Industrial R&D Investment Scoreboard 2013). Third place in the ranking of the most dynamic companies offering factoring services in 1H 2013 according to Gazeta Finansowa. Second place for the Bank in "Banking Brands in the media report, in the part titled "The presence of banking brands in traditional media, prepared by Press Service Monitoring Mediów (September 2013). First place for the Bank for the best Internet image according to Gazeta Bankowa report How Google perceives the banks (November 2013). Bank s economists were awarded the first place in the economic forecast ranking for 2013 by Gazeta Giełdy Parkiet. Five initiatives of Bank and Fundacja BOŚ were classified in the report "Responsible Business in Poland Good practices by Responsible Business Forum (the report will be published in April 2014). Among them were: eko-polska.pl - project combining social responsibility of the banking institution with the promotion of pro-environmental attitudes, umocnij swój biznes - offer, which combines the ecological and educational effects with immediate benefits for business, 2 złote dla Zwierzaka - action promoting and supporting the protection of nature, Szkolne Smaki Szkoły dobrego żywienia - a series of conferences about healthy nutrition, POMAGAM CAŁY ROK - program of regular individual philanthropy. Slajd 20 z 35

21 Important events for DM BOŚ in 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 195 investment funds managed by 16 investment companies. BossaBank implementation of a new sales platoform of BOŚ S.A. Group; joint project of DM BOŚ SA and BOŚ Bank S.A. Prizes and awards Second place in the ranking of Forbes magazine and SII for the best brokerage for retail investors - the eighth season on the podium. Award from Gazeta Parkiet for the best Forex transaction platform for BossaFX. Award from the President of the Warsaw Stock Exchange for the cooperation of DM BOŚ, as the market maker, with WSE on the futures market. 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, DM AmerBrokers and DnB Nord to DM BOŚ. The largest increase in market volume of new investment accounts in Slajd 21 z 35

22 New projects and products Slajd 22 z 35 Slajd 22 z 34

23 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. START: December 2013 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. START: September 2013 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 of the family, especially in terms of energy bills, through OZE solutions and eco-product specialization of the Bank. START: February 2014 Slajd 23 z 35

24 New Model BOŚ branch office: greater efficiency, lower costs Income: The increase of number of selling advisors per branch office by adding the functions and responsibilities of each Director and head of sales. Focusing on selected products with higher margins, mostly pro-ecological loans and advances at the expense of reduction / cancellation of less profitable products. Advisors will have more time for clients due to the back-office centralization and cash automation. Creating a new, positive image (eco-branch office). Costs: Reduction of number of employees as a result of matching the scale of the business in a every single branch starting from Q2'14. Implement automation of cash handling (recyclers). Reduction of the space in line with the new model and the modernization of the facility. Withdrawal from unprofitable outlets which do not meet additional business criteria. The opening of offices in the new standard in smaller towns, according to the network development plan. Slajd 24 z 35

25 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 25 z 35

26 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: Client orders BOŚ EKOsystem. Recommendation of the best solution. Formalities in one place. Finding the funding. Client uses BOŚ EKOsystem in his house. Slajd 26 z 35

27 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 27 z 35

28 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 28 z 35

29 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 23 contracts in 3 voivoidships. Slajd 29 z 35

30 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 30 z 35

31 Appendices Slajd 31 z 34 Slajd 31 z 35

32 Financial results of BOŚ S.A. Group thou PLN Change Y/Y Interest income and similar income ,2% Interest expense and similar charges ,4% Net interest income ,0% Fee and commission income ,3% Fee and commission expense ,6% Net commission & fee income ,3% Dividend income ,2% Net trading income ,4% Result on investment securities ,0% Result on hedge accounting ,1% Foreign exchange result ,6% Other operating income ,7% Other operating expenses ,6% Net impairment loses ,1% General administrative expenses ,8% Gross profit ,8% Income tax charge ,3% Net profit ,7% Slajd 32 z 35

33 Consolidated statement of financial position thou PLN Change Y/Y Cash and deposits with the Central Bank ,0% Deposits with other banks, loans and advances to other banks ,2% Held-for-trading securities ,8% Derivative financial instruments ,1% Hedging derivatives ,3% Loans and advances to customers ,4% Investment securities ,6% Investment in assosiate ,1% Assets held for sale ,1% Intangible assets ,0% Property, plant and equipment ,9% Income tax assets ,0% Other assets ,3% Total assets ,2% Amounts due to the Central Bank ,8% Amounts due to other banks ,8% Derivative financial instruments ,4% Hedging derivatives ,6% Deposits from customers ,7% Liabilities under banking securities issued ,7% Subordinated debt ,1% Provisions ,6% Income tax liabilities ,5% Other liabilities ,5% Equity ,7% Total equity and liabilities ,2% Slajd 33 z 35

34 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 34 z 35

35 Contact for Investors: Web page: BOŚ Bank S.A. Investor Relations Team 32, Żelazna Str Warszawa Slajd 35 z 35