BANK PEKAO S.A. GENERAL PICTURE

Transcription

1 BANK PEKAO S.A. GENERAL PICTURE

2 Disclaimer This presentation (the Presentation ) has been prepared by Bank Polska Kasa Opieki Spółka Akcyjna ( Bank ) for the clients, shareholders and financial analysts. This presentation should not be treated as an offer or invitation to purchase any securities or financial instruments or as an advice or recommendation in respect to such securities or financial instruments. The presented data are only general information and does not refer to the offered by the Bank products or services. In order to take advantage of the services and products of the Bank, one should be thoroughly familiar with the characteristics of the particular service or product, its rules, risk and legal and tax consequences of the use of particular service or product. The strategy presented in this presentation contains goals which are the ambition of the Management Board and do not constitute any financial results forecast. Rights for the Presentation as a whole are entitled to the Bank. Presentation is a subject to the protection provided by the law, in particular: the Act dated on February 4th, 1994 on Copyright and Related Rights (consolidated text in Journal. Laws of 2006, No. 90, item. 631, as amended); the Act dated on July 27th, 2001 on the Databases protection(journal of Laws No. 128, item. 1402, as amended); the Act dated on April 16, 1993 on Combating Unfair Competition (consolidated text in Journal of Laws of 2003, No. 153, item 1503, as amended) and the Act dated on June 30, 2000 on Industrial Property Law (consolidated text in Journal. Laws of 2003, No. 119, item as amended). This presentation may include forward looking statements, Bank s outlook for the future, future plans and strategies or anticipated events that are not historical facts. Since these statements are based on assumptions, expectations, projections and provisional data about future events, the content is inherently uncertain. Factors that could cause or contribute to differences in current expectations include, but are not limited to: (i) general economic conditions, among which the economic conditions of the business areas and the markets in which Bank and its subsidiaries operate, (ii) the performance of financial markets (iii) changes in laws or regulations and (iv) general competitive conditions locally, regionally, nationally and/or internationally. The Bank does not undertake to publish any updates, modifications or revisions of the information, data or statements contained herein should there be any change in the strategy or intentions of the Bank, or should facts or events occur that affect the Bank s strategy or intentions, unless such reporting obligations arises under applicable laws and regulations. Bank, nor any of its representatives shall not be responsible for any loss or damage it may arise from the use of this Presentation or of any information contained herein or otherwise arising in connection to this Presentation. This presentation is not for the distribution, in or into countries where the public dissemination of the information contained herein may be restricted or prohibited by law. 1

3 Agenda General picture Outlook Appendix 2

4 Bank Pekao snapshot EUR Q Ranking Retail clients 4.6 m 2 Corporate & SME clients 287 ths Assets 40.0 bl 2 Loans 30.3 bl 2 Retail PLN loans 10.5 bl 2 Corporate loans 18.0 bl 1 Deposits 30.7 bl 2 Retail deposits 14.1 bl 2 Corporate deposits 16.6 bl 1 Import / Export 24%/25% (2) 1 Mutual funds 4.4 bl 1 Market cap 11.8 bl 1 Position of Pekao (1) 1 2 <= # of branches Share of Pekao in banking sector Total Revenues 12,5% Operating profit 14,5% Net profit 17,1% 3 NOTE: Financial data as at March 31st, EUR = PLN Number of branches as at March 31st, 2015 (1) Market position of Pekao as at June 30th, Commercial banks only, excluding agencies (2) Data for FY2014

5 Solid Pekao fundamentals CT 1 ROE 17,6% 13,4% 10,3% 10,0% Pekao Sector Pekao Sector L/D RATIO C/I RATIO 91,7% 95,5% 48,5% 51,7% Pekao Sector Pekao Sector ROA 1,5% CoR 0,54 0,62 1,1% Pekao Sector Pekao Sector 4 Sector: NBP

6 Market share - Retail Market leader in retail lending Market leader in retail deposits Market share 8.7% 9.6% PLN MORTGAGES (%) CONSUMER LOANS - PEX(%) pp pp 17,8% 8,4% 9,7% 16,3% Dec 10 Mar 15 Dec 10 Mar 15 5 Source: Adjusted NBP reporting; Dec 2010 Mar 2015

7 Market share - Corporate Market share Market leader in corporate lending Market leader in corporate deposits Project finance & Leveraged finance Debt capital market Bonds on Catalyst arranged in 2014 Leader in cash management service Trade finance market 16% 17% 25% 22% 27% 18% 21% 6 NOTE: Market share as at March 31st, 2015, unless otherwise indicated

8 Market position - Bank Pekao vs peers Deposits Loans Capitalisation on the Warsaw Stock Exchange PKO 43,5 PKO 44,5 Pekao 11,8 Pekao 29,6 Pekao 28,1 PKO 10,4 BZWBK 22,5 BZWBK 21,5 BZWBK 8,4 ING 19,1 MBank 19,3 MBank 4,5 MBank 17,6 ING 15,4 ING 4,3 GetinNoble 13,9 GetinNoble 12,2 Handlowy 3,5 Millennium 12 Millennium 11,5 Millennium 2 Handlowy 6,4 BPH 5,6 BPH 1,5 BPH 2,7 Handlowy 4,2 GetinNoble 1,1 Note: Consolidated data in bln EUR as at March 31st,

9 Bank Pekao history 1929 Creation of the Bank 1998 Merger with 3 regional banks 1998 IPO Pekao listed on WSE 1999 UniCredit as a strategic investor 2007 BPH spin-off 2012 New brand 8

10 Ownership structure shares and votes during shareholder meetings Minority shareholders shares and votes during shareholder meetings 49,9% 50,1% Polish Pension Funds: 15.0% Polish Mutual Funds: 2.0% Note: Latest available data as at 31st of December

11 Ratings of Bank Pekao S.A. FITCH RATINGS BANK PEKAO S.A. POLAND Long-term rating (IDR) A- A- Short-term rating F2 F2 Viability rating a- Support rating 2 Outlook Stable Stable STANDARD AND POOR'S BANK PEKAO S.A. POLAND Long-term rating BBB+ A- Short-term rating A-2 A-2 Stand-alone bbb+ Outlook Stable Positive MOODY'S INVESTORS SERVICE LTD BANK PEKAO S.A. (unsolicited rating) POLAND Long-term foreign-currency deposit rating A2 A2 Short-term deposit rating Prime-1 Prime-1 BCA baa1 Outlook Stable* Stable/ Negative** 10 Notes: Bank Pekao S.A. s Viability rating at a- from Fitch Ratings, Stand-alone one at bbb+ from Standard and Poor s and BCA at baa1 from Moody s are the highest individual ratings assigned by these rating agencies to banks rated in Poland (*) On Moody s revised Pekao outlook to "stable driven by the implementation by agency new rating methodology for assessing banks' creditworthiness while taking into account changes in the European regulations regarding the likelihood of government support in light of the introduction BRRD by European Parliament and Council (**) Stable for the economy and Negative for the banking sector in Poland

12 Pekao Group organizational structure BANK PEKAO SUPERVISORY BOARD MANAGEMENT BOARD President of the Management Board C.E.O President s Office Internal Audit Department Stakeholders Engagement Research & Development Dept. Investors Relations & Market Strategic Analysis Dept. Legal Department Macroeconomic Research Office Compliance Department Retail Banking Division Private Banking Division Corporate Banking and MIB Division Financial Division (CFO) Risk Management Division (CRO) Human Resources Division Global Banking Services Area Logistics and Procurement Division Identity and Communication Area MAIN SUBSIDIARIES OF PEKAO GROUP Brokerage activity Assets management Operational and financial lease Recourse, non-recourse factoring, forfaiting 11 Business units Back office units

13 Agenda General picture Outlook Appendix 12

14 Polish economy outlook MACROECONOMIC SCENARIO F 2016F GDP, % y/y 3,3 3,4 3,5 Consumption, % y/y 3,0 3,5 4,0 Investments, % y/y 9,4 5,5 7,2 Unemployment, % eop 11,5 10,8 10,2 CPI, % avg 0,0-0,6 1,9 3M WIBOR, % avg 2,06 1,7 2,3 Reference rate, % eop 2,00 1,5 2,0 Exchange rate EUR, eop 4,26 4,2 4,1 Exchange rate USD, eop 3,51 3,7 3,9 Public sector balance, % GDP -3,2-2,8-2,5 Note: Internal macroeconomic scenario 13

15 Polish banking sector outlook BANKING SYSTEM VOLUMES F** 2016F** LOANS, y/y % 6,5 7,2 6,5 Retail, y/y % 5,5 7,1*** 5,4 Mortgage 5,1 8,0*** 5,0 Consumer loans* 6,1 5,8 6,0 Corporate y/y % 7,4 7,5 7,8 SME loans 6,3 7,5 8,5 SAVINGS, y/y % 9,0 7,4 7,3 DEPOSITS, y/y % 8,7 7,2 7,3 Retail, y/y % 9,2 7,5 7,3 Corporate y/y % 9,0 7,1 7,4 Mutual funds, y/y % 10,6 8,5 7,5 14 * all non-mortgage retail loans ** internal scenario *** including effect of stronger CHF on existing portfolio

16 Agenda General picture Outlook Appendix 15

17 Selected data Bank Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Mar 15 Outlets ATM's Employees No of PLN current accounts (ths)* No of mortgage loan accounts (ths)** No of clients holding a consumer loan accounts (ths)*** Number of individuals with an access to electronic banking Pekao24 (ths) Number of individuals with an access to mobile banking (ths) Number of business clients (SME) with an access to electronic banking systems (ths) Group Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Mar 15 Employees**** Outlets**** ATM's**** Number of MF accounts (ths)***** Number of Brokerage accounts (ths)****** (*) Number of accounts including pre-paid card accounts (**) Retail clients accounts (***) Pożyczka Ekspresowa (Express Loan) (****) PJSC UniCredit Bank excluded since Sep 2013 (****) Pioneer Pekao Investment Management S.A. (*****) Including: Dom Maklerski Pekao (Dom Maklerski), subsidiarycentralny Dom Maklerski Pekao S.A. (CDM), and associated entity Xelion

18 Consolidated income statement mln PLN Q1 15 Share in income or cost (%) Net interest income (1) % Net fee and commission % Operating income % Operating costs (2) % Payroll costs % Other administrative expenses % Depreciation % OPERATING PROFIT Provisions Guarantee funds charges PROFIT BEFORE INCOME TAX Income tax GROUP NET INCOME (3) Cost/Income Ratio (%) (4) 49,2% 45,9% 44,4% 44,6% 44,7% 44,3% Cost of Risk (%) 0,68% 0,63% 0,72% 0,71% 0,56% 0,53% ROE (%) 13,1% 14,2% 13,3% 12,0% 11,5% 10,3% CAR (%) - Basel ,1% 18,3% 17,3% 17,6% NIM (%) 3,5% 3,7% 3,7% 3,4% 3,1% 2,9% L/D (%) 80,1% 85,8% 86,5% 84,6% 88,8% 93,7% 17 (1) NII and dividends and other income from equity investments (2) Cost excl. guarantee funds charges (3) Net profit attributable to equity holders of the Bank (4) Cost excl. guarantee funds charges Note: 2010 and 2011 data don t include impact of changes in bancassurance accounting treatment

19 Pekao Group structure net profit breakdown mln PLN cumulative Share in entitiy % Q1 15 Bank Pekao S.A. Banking - Poland Entities - consolidated under full method of which: (*) Pekao Leasing Sp. z o.o. Leasing 36% 4,8 42,0 41,9 40,6 54,6 9,2 Centralny Dom Maklerski Pekao S.A. Brokerage 100% 51,5 46,0 30,5 39,3 42,4 10,4 Pekao Bank Hipoteczny S.A. Mortgage Bank 100% 17,5 17,3 15,7 12,7 10,0 0,1 Pekao Pioneer PTE S.A. Pension Fund 65% 12,4 12,0 11,4 13,8 15,4 0,4 Pekao Faktoring Sp. z o.o. Factoring 100% 11,3 10,7 10,2 10,1 8,2 1,7 Pekao Investment Banking S.A. Brokerage 100% , ,0 Centrum Bankowości Bezpośredniej Sp. z o.o. Call Centre 100% 1,1 3,7 3,2 3,9 2,4 0,3 Pekao Financial Services Sp. z o.o. Servicing MF/PF 100% 9,8 7,4 3,9 6,6 7,2 2,0 Centrum Kart S.A. Cards 100% 4,6 3,7 2,5 1,7 2,6-0,9 Pekao Fundusz Kapitałowy Sp. z o.o. Business consulting 100% 2,8 1,3 1,2 0,6 0,3 0,1 Pekao Property S.A. Real estate development 100% ,6-0,4-0,9 0,0 Entities - valued under the equity method Pioneer Pekao Investment Management S.A. Mutual Funds 49% 57,1 62,3 45,2 48,3 51,8 11,8 Krajowa Izba Rozliczeniowa S.A. Clearing Services 34% 8,4 10,9 7,4 10,0 10,0 3,3 Dom Inwestycyjny Xelion Sp. z o.o. Financial Advisory 50% 0,8 0,7 0,7 1,1 1,5 0,4 Exclusions and consolidation adjustments Group Net Profit (**) (*) Entities in liquidation, sold or indirect ownership not presented 18 (**) Group net profit attributable to equity holders of the Bank (reported) Note: Data as reported; 2010 and 2011 data don t include impact of changes in bancassurance accounting treatment

20 Consolidated balance sheet mln PLN Dec 10 Dec 11 Dec 12 Dec 13 Dec 14 Mar 15 Share in balance sheet (%) Cash and amounts due from Central Bank % Loans and advances to banks % Loans and advances to customers* % Investment securities % Assets held for sale % Intangible assets % Tangible fixed assets % TOTAL ASSETS % Amounts due to the Central Bank % Amounts due to other banks % Financial liabilities held for trading % Amounts due to customers % Debt securities issued % Total liabilities % Total Shareholders' equity % (*) Including loans and advances from customers and receivables from finance leases 19 Note: Dec 2010 data don t include impact of changes in bancassurance accounting treatment

21 Bank Pekao on the Warsaw Stock Exchange Bank Pekao S.A. on the Warsaw Stock Exchange (WSE) Bank Pekao SA is listed on the Warsaw Stock Exchange and London Stock Exchange (GDRs program) The largest bank on WSE in terms of market capitalisation (12 bln EUR) The biggest Polish company in terms of market capitalisation The second biggest bank in terms of value of turnovers and volume of shares in free float among banks Bank WIG 20, WIG 30, MSCI, CEERIUS Sustainability Index Note: Data as at 31st of March