GETIN NOBLE BANK GROUP

Transcription

1 GROUP FINANCIAL RESULTS FOR THE FIRST THREE QUARTERS OF 2012 Presentation of non-audited financial results for investors and analysts Warsaw, November 14 th, 2012

2 INTRODUCTION We are consistently pursuing our strategic goal to be ranked among the top five banks on the market. Balance sheet total #6 (+1 position 1) ) Loans Deposits Interest income Fee and commission income #5 (without change) #5 (without change) #4 (without change) #5 (without change) Net result #9 (-6) Key success factors» a consistently changing balance sheet structure (more shorter-term, fasteramortising products with higher profit margins) with profitability rates maintained» steady growth of revenue not related to credit risk» diversification of funding sources» effective reduction in the costs of risk» reduced financing pressure 1) Initial results of banks for Q2 2012, as reported by the daily Rzeczpospolita; a move in the same ranking for Q

3 INTRODUCTION Ranking of banks after first half of ) Assets Equity Loans Deposits 1 PKO BP PKO BP PKO BP PKO BP Bank Pekao Bank Pekao Bank Pekao Bank Pekao BRE Bank BRE Bank BRE Bank ING Bank ING Bank BZ WBK ING Bank BRE Bank BZ WBK ING Bank Getin Nobłe Bank Getin Nobłe Bank Getin Nobłe Bank Bank Millennium Bank Millennium BZ WBK BGK Bank Handlowy BZ WBK Bank Millennium Bank Millennium Getin Nobłe Bank Kredyt Bank BGK Kredyt Bank Bank BPH Nordea Bank Kredyt Bank Bank Handlowy Kredyt Bank Bank BPH Bank BGŻ up from 7 th position 2) up from 9 th position 2) no change no change Interest income Fee and commission income Result from banking activities Net result 1 PKO BP PKO BP PKO BP PKO BP Bank Pekao Bank Pekao Bank Pekao Bank Pekao BRE Bank BZ WBK BZ WBK BZ WBK Getin Nobłe Bank BRE Bank BRE Bank BRE Bank ING Bank Getin Nobłe Bank ING Bank Bank Handlowy BZ WBK ING Bank Bank Handlowy ING Bank Bank Millennium Bank BPH Getin Nobłe Bank Santander Consumer Kredyt Bank Bank Handlowy Bank Millennium BGK Credit Agricole Bank Millennium Bank BPH Getin Nobłe Bank Bank Handlowy Alior Bank Credit Agricole Bank Millennium 221 no change no change down from 3 th position 2) 3) down from 3 th position On the operating costs side, the Bank remained in the 12 th place it held a year ago. 2) 3) 1) Initial results of banks for Q2 2012, as reported by the daily Rzeczpospolita 2) A move up in the same ranking for Q

4 SUMMARY over 12% over PLN 1,1 bln nearly PLN 300 mio of CAR Bank already has of issued sub debt of equity increase registered by the Court in November; succesful issue of new J and K series shares 30 ths of active current accounts net monthly increase 61% of income from current accounts (ROR) increase in 3Q 12 on a year-to-year basis 52% of non-loans related income share 1/3 of credit risk provisions decrease in w Q3 12 on a year-to-year basis 4% are lower administration costs in 2012 (vs 3Q 2012 YTD) at 4% inflation rate 85% of loan-to-deposit ratio; one of the lowest in the banking sector 15% increase of average monthly high yield loans sale in 2012 in connection with startegi change in sales mix 48% decrease of average monthly sale of mortgage loans in 2012 compared to the previous year +0,1 pp of NIM increase in 3Qą12 compared to 2Q 12 until the end of Feb 2013 Bank has got all CIRS transactions collateralised 4

5 THE RECENT ACHIEVEMENTS Successful merger with former Allianz Bank Polska S.A. Success of new shares in J and K series issue scale of the transaction: ca. PLN 1 billion of assets and 80 ths of clients Issue of shares in two series: J series: amount: PLN 200 millions price: PLN 1,00 per share purpose increase of capital adequacy ratio and financing organic growth K series: amount: PLN 96 millions price: PLN 1,60 per share purpose : potential and done aquisitions Total PLN 296 millions of new capital raised Oversubsriptions within Additonal Tranche of 3175,78% and average reduction rate of 96,95% in J series and 171,90% of oversubscription and 63,22% of reduction in K series Equity increase registered by the Court in November; impact on the CAR ca. +0,6 p.p. Purchase of DnB NORD Bank Purchase of the Retail and SME banking business from DnB NORD (Norwegian bank operations in Poland) On October 2nd 2012 Getin Noble Bank S.A. and Bank DnB NORD Polska S.A. have signed the preliminary agreement under which Getin Noble Bank will purchase an organized part of Bank DnB NORD Polska's banking business Scale ca. PLN 1 billion of assets and liabilities, estimated price: PLN 5 millions Purchase of Dexia Kommunalkredit Bank Purchase of Dexia Kommunalkredit Bank Polska S.A. (Polish operations of Dexia Bank) On 7 November 2012, Getin Noble Bank S.A. and Dexia Kommunalkredit Bank AG signed a preliminary agreement for the acquisition by Getin Noble Bank of 100% shares of Dexia Kommunalkredit Bank Polska S.A. Scale ca. PLN 0,5 billion of assets and liabilities, estimated price: ca. PLN 57 millions (maximum of 70% of the banks net book value) 5

6 KEY FINANCIAL RATIOS Success of implemented strategy Dynamic development with maintained stability and secure situation 3Q 2012; change vs 3Q ) PLN m Loan balance ,5 +4,3% Deposit balance ,4 +9,7% Balance sheet total ,9 +7,0% Equity 4 355,8-1,1% (attributable to equity holders of the parent company) ROE 10,8% C/I 35,8% CAR 4,5) over 12% PLN m; stand-alone data 2) Net interest income 957,0-0,2% Net fee and commission income 583,9 +4,1% Result on risk provision -743,2-17,3% Non-loans 51,9% +11,6 p.p. related income share 4) Loans/deposits 84,5% -4,4 p.p. Cost of risk 4,6) 2,2% -0,9 p.p. PLN m; consolidated data Profit before tax 368,4-63,4% Net profit 3) 300,3-67,0% (attributable to equity holders of the parent company) # clients [mio] 2,1 +21,4% # branches ) 2011 figures for the merged banks 2) Presentation of stand-alone date with regard to Idea Bank and Open Finance impact on 2011 financial results 3) In 2011, PLN 620 million in gain from the loss of control of Open Finance; in 2012, PLN 86 million in gain from the sale of Idea Bank. 4) Stand-alone GNB 5) Estimation of an actual CAR level 6) Result on provision for NIL and other accounts receivable to average loans volume; annualized factor 6

7 PROFIT OF THE BANK AND GROUP COMPANIES FOR Q The Group s banking activity was the main source of its net income. PLN m cumulatively 268,4-47,9% 10,5-35,1% 16,6-6,2% 37,1 +15,8% 1) -32,3 x 300,3-67,0% 2012 y/y change Getin Noble Bank Noble Funds Noble Securities Open Finance Other activities and consolidation adj. GNB Group (profit of the parent company) PLN 38,6 m concerns adjustment for sale of Idea Bank PLN -19,7 m adjustment for dividend from NF TFI PLN -11,7 m adjustment for dividend from DM NS PLN -7,1 m of OF dividend adjustment PLN -14,4 m of profit attributable to non-controlling shareholders PLN -18,0 m of other adjustments 1) According to 48,85% GNB s share in profit of associated company PLN 37,1 m included into GNB consolidated profit 7

8 GETIN NOBLE BANK CAPITAL STABILITY AND BALANCE SHEET STRUCTURE SECURITY Bank achieved its goal on solvency ratio at a level not lower than 12% at the end of Capital adequacy ratio 1) pb + 5,0% 11,6% c.a.+0,6% over 12,0% 9,5% -2,9% 2010 increase of capital requirements increase of equity registered increase of equity from new J and K series shares current estimated CAR level One of the Bank s strategic goals is to build a secure asset and liability structure in terms of foreign currencies and liquidity (liabilities with longer maturities, increased financing stability, alternative forms of improving liquidity by raising funds on the market) Sub-debt total issue as of the end of Oct 2012 of over PLN 1,1 billions. Remaining PLN 40 millions of issued sub-debt in progress of inclusion to equity (impact on CAR of +0,1 p.p.) Succesful equity increase through new shares issue in September 2012 registered by the Court in November 2012; PLN 296 millions of raised equity with impact on the CAR of ca. +0,65 p.p. 1) Stand-alone GNB 8

9 DEPOSITS: BALANCE AND MARKET SHARE In the last 12 months, the Bank has grown at nearly four times the pace of the market growth rate Saldo (mln PLN) 1) Udziały rynkowe (%) 2) +9,7% +0,2 p.p ,2% 6,4% During the first 9 months of 2012, the Bank attracted more than PLN 1,2 billion in deposits with maturities over 3 years. Declining demand for financing total increase of Bank s deposit portfolio in first nine months of 2012 of PLN 2,6 billions, whereas in the same period in 2011 it was nearly PLN 8,3 billions deposit increase. 1) For 2011 figures for merged banks Getin Noble Bank and Get Bank 2) Market shares calculated on the basis of NBP data (market = banks operating in Poland + Polish branches of credit institutions and branches of foreign banks + SKOKs) 9

10 ROR (CURRENT ACCOUNTS) Success of the launched in the mid year project of active current accounts base increase, as one of indicatives aiming to decrease the cost of financing New ROR and IKE accounts [monthly; 000 ] Migration of the accounts from other banks 1) [GNB s marketshare] 27,7 28,7 32,3 2) 28,3 27,9% 25,0% 9,6 11,2 19,1 14,1 15,1 18,6 6,9% 10,1% 5,7% 4,2% 7,0% 7,7% Jan'12 Feb'12 Mar'12 Apr'12 May'12 Jun'12 Jul'12 Aug'12 Sep'12 Oct'12 Mar'12 Apr'12 May'12 Jun'12 Jul'12 Aug'12 Sep'12 Oct'12 Bank increases current accounts portfolio at a pace of ca. 30 ths accounts per month Efficient acquisition of accounts from other banks nearly ¼ of accounts migrated between banks in October came to GNB 1) Based on data from Związek Banków Polskich from OGNIVO platform 2) Incl. sales of interest-bearing current accounts at Get Bank in January-May

11 RESULT FROM BUSINESS OPERATIONS Decrease in both cost of credit risk and administration costs Dynamically growing repeatable revenue over a half of toal fees and commissions already Credit risk provisions (PLN m) Administration cost (PLN m) NII, F&C income and non-loans related income (PLN m) ,0% ,0% ,0% 50,0% +12% 51,9% 60,0% 50,0% % ,0% ,0% ,0% -4 % ,0% 30,0% 20,0% 40,3% % ,0% 30,0% 20,0% ,0% ,0% ,0% 0 1-3Q' Q' ,0% 1-3Q' Q'2012-0,0% 1-3Q' Q'2012 net interest income net fee and commission income non-loans related income share 0,0% Standalone net fee and commission income in 3Q 2012 increased by over 4% on a year-to-year basis. In consolidated terms, the figure fell as a result of inclusion of Idea Bank and Open Finance in Consistent growth of the Bank s non-lending revenue base In 2012, already nearly 52% of the Bank s commissions were generated by non-lending activities, i.e. up by nearly 15 percentage points against the figure for 3Q 2011 YTD and up by nearly 10 percentage points in comparison to whole year Decrease in fee and commission income in the third quarter of 2012 related to lower distribution of structured products. 1) Stand-alone GNB; month-to-month 11

12 LOANS: BALANCE AND MARKET SHARE Effective change of the Bank s strategy lower sales of mortgage loans offset by higher sales of high-margin products Portfolio balance (PLN m) 1) Market share (%) 2) Sale of loans (PLN m) 3) +4,3% +0,2 p.p ,2% 5,4% Focus on the sale of products with shorter amortisation periods and with higher spreads, such as cash loans, car loans, loans for SMEs and leases. Sales of these products in H were up against the average level for the previous year by nearly 15%, with a decrease in sales of mortgage loans by nearly a half. Sales in the first quarters of 2012 amounted to PLN 8,0 bln, which was an increase by over 25% compared to the previous year. Share of foreign-currency loans in relation to the Bank s total portfolio is steadily lower, with a drop to 36.2% 4) as at the end of September 2012, meaning it was lower by 5.9 p.p. than as at the end of ) 2011 figures for merged banks Getin Noble Bank and Get Bank 2) Market shares calculated on the basis of NBP data (market = banks operating in Poland + Polish branches of credit institutions and branches of foreign banks + SKOKs) 3) Stand-alone GNB; January-June 2012 figures for the merged banks of Getin Noble Bank and Get Bank 4) Stand-alone GNB 12

13 SALES MIX Sale structure change; shorter-term, faster-amortising loans, higher lending margins Other loans avg. month-to-moth sale [PLN m] Sales structure 1) avg. month-to-moth sale [PLN m] -1% -51% -48% +6% +15% car loans & leasing % retail loans mortgage loans other loans +28% 2011 Q Q 2012 YTD SME and corporate loans MARGIN 2) 2,1% 7,1% ) Stand-alone GNB 2) A lending margin over WIBOR 3M for loans sold in 2012; the target margin level in the case of mortgage loans 13

14 RETAIL AND SME/CORPORATE LOANS Dynamically growing sales of high-margin loans Corporate loans portfolio grew 3 times faster than the market. Sale (PLN m) 1) Portfolio (PLN m) 1,2) +50,6% +0,2% RETAIL LOANS High sales dynamic on the difficult market. Over the last 12 months the Bank s consumer credit balance grew by 12.6%, whereas the entire banking sector reported decrease by 4.9%. Total Q sales increase of over a half on a year-to-year basis. Q3'2011 Q4'2011 Q1'2011 Q2'2011 Q3' ,0% +35,8% SME AND CORPORATE LOANS The Bank has already acquired over 100 thousand corporate customers H sales of loans of over PLN 1.8 billion, i.e. 26.6% on a year-to-year basis. Q3'2011 Q4'2011 Q1'2012 Q2'2012 Q3' ) 2011 figures for merged banks Getin Noble Bank and Get Bank 2) Gross portfolio 14

15 CAR LOANS AND LEASING Maintained position of leader in car loans Sale of car loans (PLN m) Portfolio (PLN m) 1) -2,4% -2,5% Q3'2011 Q4'2011 Q1'2012 Q2'2012 Q3'2012 Leasing (PLN m) -13,4% th place in the market for leases on cars and delivery vehicles with a GVR of up to 3.5 tonnes. 7 th place in the Polish movables lease market after the first three quarters of Nearly 75% increase in sales of loans at Opel and Chevrolet dealerships Sales of car loans continued at high levels despite low dynamic in sales of new vehicles (+2%) and despite a decrease in import of used vehicles (-4.5%) 2) Q3'2011 Q4'2011 Q1'2012 Q2'2012 Q3'2012 Sales decrease on year-to-year basis deriving from deconsolidation of Idea Bank. Stand-alone GNB noted an increase of 9% y/y. 1) Balance of gross car loans portfolio 2) Figures according to SAMAR report 15

16 CREDIT RISK Noticeable results of measures aimed at improving asset quality Cost of credit risk (%) 1) corporate loans car loans 2) mortgage loans retail loans loans total change 1,1% 3,6% -2,50 p.p. 2,1% 3,5% -1,37 p.p. 2,3% 2,7% -0,41 p.p. 2,5% 3,9% -1,37 p.p. 2,2% 2,9% -0,76 p.p. A noticeable decrease in credit risk charges in 2012, i.e. by over PLN 170 millions (28% on a year-to-year basis), meaning a decrease of almost PLN 225 millions on a year-to-year basis). Lower costs of risk, with a growing loan balance, confirm the continuously improving quality of the Bank s loan portfolio. A one-off increase of retail credit risk charges related to technical effect of an impact of bank assets sale in Q on model factors as well as deriving from breakdowns in collection IT systems. Impairment charges and loans balance (PLN m) 4) Avg monthly impairment charges (PLN 000) ) 4) 1Q'2011 2Q'2011 3Q'2011 4Q'2011 1Q'2012 2Q'2012 3Q'2012 Oct'12 TOTAL LOANS car loans Q1'2010 Q2'2010 Q3'2010 Q4'2010 Q1'2011 Q2'2011 Q3'2011 Q4'2011 Q1'2012 Q2'2012 Q3' mortgage loans retail loans corporate loans impairment charges loans portfolio balance 1) Result on provision for NIL and other accounts receivable to average loans volume; annualized factor; stand-alone GNB 2) Including leasing 3) Stand-alone GNB 4) Q and Q figures for the merged banks of Getin Noble Bank and Get Bank 16

17 CREDIT RISK The quality of the Bank s new loan portfolio was maintained within the limits of its risk appetite policy. Loan default rates: 90+ after 6 and 12 months from loan disbursement for loans disbursed in the different quarters starting from 2008 Mortgage loans 1Q'08 2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q' Risk apetite 6M Risk apetite 12M Retail loans Car loans 1Q'08 2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q' Risk apetite 12M Risk apetite 6M 1Q'08 2Q'08 3Q'08 4Q'08 1Q'09 2Q'09 3Q'09 4Q'09 1Q'10 2Q'10 3Q'10 4Q'10 1Q'11 2Q'11 3Q'11 4Q'11 1Q' Risk apetite 6M Risk apetite 12M 17

18 CREDIT RISK Bank efficiently adjusts procedures of evaluation and acceptance to market conditions and clients situation Retail loans Interest on 30 DPD in repayment of the third instalment (%) Car loans Interest on 30 DPD in repayment of the third instalment (%) 6,4% 6,6% 3,5% 2,2% 2,7% 3,1% 1,6% 1,9% 3,0% 1,8% 1,0% 1,6% 0,8% 0,7% 01'08 05'08 09'08 01'09 05'09 09'09 01'10 05'10 09'10 01'11 05'11 09'11 01'12 05'12 01'08 05'08 09'08 01'09 05'09 09'09 01'10 05'10 09'10 01'11 05'11 09'11 01'12 05'12 18

19 INVESTMENT ACTIVITIES Main transactions carried out in last years PURCHASE NOBLE Securities S.A. (former Polonia NET S.A. Brokerage House) GMAC Bank Polska S.A. Allianz Bank Polska S.A. Link4 Life TUnŻ S.A. DnB NORD Polska S.A. Dexia Kommunalkredit Bank Polska S.A. SALE Open Finance (IPO; GNB did not participate in capital increase and sold 23,5 mio of OF shares) TU Europa S.A. Open Life TUŻ S.A. [former Link4 Life TUnŻ S.A.] Idea Bank S.A. [former GMAC Bank Polska S.A.] 19

20 THE RECENT TRANSACTION ACQUISITION OF DNB NORD POLSKA S RETAIL BUSINESS Legal construction: organized part of the banking enterprise. Loan portfolio of PLN 975 millions, the transaction will probably affect about PLN 700 millions of loan balance (after obtaining clients approvals) average monthly loans sales in GNB. Deposit portfolio no less than the loan balance a condition to the transaction, what implies there is no liquidity strain for GNB, moreover lower cost of financing. Relatively short-term loans (40% mature until the end of 2015 and 90% until 2020) dilution of maturity terms in GNB in line with the current Bank s strategy. Most of loans in PLN (only about PLN 20 millions FX loans for SME). Borrowers: housing condominiums (PLN 690 millions), SME (PLN 270 millions), retail clients (PLN 13 millions) positive change in GNB s loan mix. The NPLs excluded from the transaction a positive impact on the risk profile, healthy portfolio. 35 thousands of clients' accounts and 38 branches. Impact on CAR - 0,15% - capital from the new issue of shares (PLN 300 millions) and PLN 190 millions of sub-debt to be added to capital ensure CAR level at minimum 12%. Positive impact on GNB s financial result (SME portfolio purchase with proportionate discount, other elements not more than cost of organic acquisition). 20

21 THE RECENT TRANSACTION PURCHASE OF 100% OF DEXIA KOMMUNALKREDIT BANK POLSKA SHARES Legal construction: purchase of 100% of bank s shares Price: maximum of 70% of the bank s book value, what indicates estimated value of the transaction reaching around PLN 57 millions Equity of Dexia Bank amounts to over PLN 80 millions; balance sheet total exceeds PLN 500 million; Tier 1 solvency ratio exceeds 59% 9 months into 2012, Dexia Kommunalkredit Bank Polska has generated a positive financial result Loan portfolio: total amount of nearly PLN 0,5 billion Deposit portfolio: attractive source of financing in the form of European Investment Bank funds of total PLN 370 millions of long term financing, without depreciation, with price slightly above WIBOR; positive impact on GNB s liquidity situation and lower cost of financing comparing to GNB; preliminary positive decision of EIB All loans granted to local self-government authorities and their subsidiaries as well as in infrastructure projects Estimated impact on GNB s CAR level of +0,15% Positive impact on GNB s financial result (purchase price with a discount to the net book value) Additional few millions of tax shield 21

22 GETIN UP A NEW CONSIDERED BANKING Getin UP is a long term project performed under Getin Bank brand. The main goal of the project is to place the Bank in line of category leaders. First stage includes implementation of a modern internet banking and introduction of a new banking account Getin UP. Each element of the offer was based on latest global trends of internet banking. We put on functionality and usability because modern banking has to be simple and practical. Getin UP is anew considered banking. Many of proposed solutions were rebuilt from scratch to make them more convenient and efficient. 22

23 GETIN UP TECHNOLOGICAL REVOLUTION IN GETIN BANK Getin UP account combines in one place all available on the market technological news. This is an unique combination of 4 elements: Innovative transfers with possibility to make them without knowing recipient s account number, via Facebook, SMS, Mobile banking mobile banking application (Android and ios), contactless payment via mobile phone (NFC and Pay Pass sticker), invoice payment via QR codes Practical tools to control expenses Personal Finance Manager, which helps to track day to day expenses, the world s first display card (MasterCard Display), which displays an account balance Friendly Saving new functionalities and applications which helps to motivate in saving: Targeted Savings Accounts, Keep The Change option, application for impulse saving Additionally we want to offer our clients completely new design of our internet banking. The new user interface will present useful information in an attractive way. 23

24 GETIN UP SKOK TECHNOLOGICZNY W GETIN BANKU 24

25 KEY FINANCIAL DATA Equity (attributable to equity holders of the parent company) PLN m ) ) / / , , ,4 +3,1% -1,1% Sub debt Balance sheet total Loans balance Deposits balance 1 148,9 400,0 355,0 +187,2% +223,6% , , ,5 +5,4% +7,0% , , ,0 +2,2% +4,3% , , ,6 +5,6% +9,7% PLN m 3Q Q Q ) 3Q 12/ 2Q 12 3Q 12/ 3Q 11 Net interes income 2) 3) 328,0 313,6 348,7 +4,6% -5,9% Net fee and commission income 2) 3) 177,1 198,9 192,1-10,9% -7,8% Overhead costs -200,5-215,4-231,6-6,9% -13,4% Net profit (attributable to equity holders of the parent company) 61,4 82,4 94,6-25,4% -35,1% C /I - consolidated (%) 4) 35,8% 34,8% 25,2% +1,0 p.p. +10,6 p.p. ROE 4) 10,8% 13,3% 36,2% -2,4 p.p. -25,4 p.p. NIM 5) 2,5% 2,4% 2,9% +0,1 p.p. -0,5 p.p. CAR 2) 4) 11,6% 10,9% 10,2% 6) +0,7 p.p. +1,4 p.p. 1) For the year 2011 merged date of Getin Noble Bank and Get Bank 2) stand-alone GNB 3) stand-alone date with regard to Idea Bank and Open Finance impact on 2011 financial results 4) YTD data 5) QTD data 6) GNB data 25

26 DISCLAIMER This presentation has been prepared for information purposes only to be used by Getin Noble Bank S.A. s customers and shareholders and by market analysts and may not be considered as an offer or recommendation to execute any transactions. The information contained in this presentation is based on publicly available and reliable sources. However, Getin Noble Bank S.A. cannot guarantee that this information is complete. Getin Noble Bank S.A. takes no responsibility for the consequences of any decisions based on any information contained in this presentation. The information contained in this presentation has never been subject to independent verification and may at any time be subject to change or modification. The publication by Getin Noble Bank S.A. of the figures contained in this presentation is not a breach of the regulations applicable to companies whose shares are traded on a regulated market. The information provided in this presentation has already been disclosed in current or periodic reports published by Getin Noble Bank S.A. or constitutes an addition to those reports, and its publication does not require the bank to fulfil the obligation to provide information as imposed on the bank as a public company. The content of this presentation may not, in any case, be interpreted as an express or implied statement or assurance made by the company or its representatives. In addition, neither the company nor its representatives may be held liable, in any way (as a result of negligence or for any other reason) for any loss or damage that might arise in connection with use of this presentation or any content of this presentation or that might arise in any other way in connection with the information contained in this presentation. n the event of a change to the company s strategy or intentions or in the event of unexpected facts or circumstances affecting the company s strategy or intentions, the company is not responsible for informing the public of any possible modifications or changes to any information, data or statements provided in this presentation. This presentation contains information relating to the Polish banking sector, including information on the company s market share. Except for information described as based on other sources only, the market-related information referred to above has been prepared based on data from the sources of the third persons named in this document and includes estimates, assessments, corrections and opinions based on the company s experience and knowledge of the sector in which the company operates. Since the market-related information referred to above has in part been prepared based on estimates, assessments, corrections and opinions and has not been verified by independent third persons (except for information described as based on the sources of third persons), the information is, to some degree, subjective in nature. It is presumed that the above estimates, assessments, corrections and opinions are based on reasonable grounds and that the market-related information properly reflects the situation in the banking sector and in the markets in which the company operates. However, it is not certain that the estimates, assessments, corrections and opinions are the most appropriate basis for conclusions relating to market information or that market information prepared by other sources will not be considerably different from the market-related information contained in this presentation. Please note that the only reliable source of information on the situation of Getin Noble Bank S.A., forecasts, events, financial results and indicators is the current and periodic reports published by Getin Noble Bank S.A. as part of its obligation to provide information. 26