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Selected financial data and ratios

Below, we present the selected items of the Consolidated Financial Statements of the Capital Group of BNP Paribas Bank Polska S.A.

The most important event affecting the level of net profit in 2019 and the comparability with results from 2018 was the finalization on 31 October 2018 of the acquisition of the Core Business of Raiffeisen Bank Polska S.A. ("RBPL"). As a consequence of the method used to perform and settle the transaction, only the income and expenses of the Core Business of Raiffeisen Bank Polska S.A. for the last two months of 2018 are recognized in the profit or loss of the Bank Capital Group for 2018 (i.e. made after 31 October 2018).
In addition, the following factors related to the aforementioned transaction have affected the comparability of results reported in 2019 and 2018:
• integration costs in the amount of PLN 414,537 thousand recognized in the general administrative expenses and other operating expenses in 2019, in comparison to PLN 265,804 thousand of integration costs recognized in 2018 (concerning the initiated process of merging the Bank with RBPL and previous merger processes of BGŻ S.A. and BNP Paribas Bank Polska S.A. and acquisition of SKOK Rafineria;
• the initial settlement of the merger of entities and calculating the gain on the bargain purchase of the Core Business of RBPL, as a result of which the amount of PLN 291,706 thousand was recognized in the category of other operating income;
• an allowance due to expected credit losses (ECL) in the 12-month horizon for loans and advances to customers and amounts due from banks, without impairment as well as for debt securities measured at amortised cost, recognized in the result of 2018, in the total amount of PLN 238,897 thousand.​

 

Consolidated financial highlights

in PLN thousand 2019-12-31 (YTD)     2018-12-31 (YTD)
Net interest income 3 168 759 2 106 851
Net fee and commission income 819 937 567 390
Profit before income tax 872 955 468 896
Net profit for the period 614 694 360 378
Total comprehensive income for the period 598 766 359 569
Total net cash flows 1 407 756  (17 752)
in PLN thousand 2019-12-31 2018-12-31
Total assets 109 954 142 109 022 519
Loans and advances to customers 73 811 039 73 413 950
Total liabilities 98 7947 59 98 462 706
Amounts due to customers 86 134 984 87 191 708
Share capital 147 419 147 419
Total equity 11 159 383 10 559 813

 

Selected consolidated key ratios

  2019               2018
Return on equity(1) 8,7%* 6,5%*
Return on assets(2) 0,9%* 0,6%*
Net interest margin(3) 2,9% 2,7%
Expense to Income(4)) 55,7%* 59,9%*
Cost of credit risk(5) (0,59%)* (0,55%)
Net loans to Deposits(6) 85,7% 84,2%
Gross loans to Total sources of funding(7) 82,2% 81,3%
Earnings (loss) per share 4,17 3,63
Total capital ratio 15,03%  14,63%
Tier 1 capital ratio 12,78% 12,38%

 

* Normalized values calculated excluding: integration costs (2019 – PLN -414,537 thousand, 2018 – PLN -265,804 thousand), allowance due to expected credit losses in connection with the acquisition of the Core Business of RBPL (2018: PLN -238,897 thousand) and the gain on the bargain purchase of the Core Business of RBPL (2018: PLN +291,706 thousand). The impact of integration costs and the cost of the allowance due to expected credit losses on the net profit was estimated using the standard 19% income tax rate. In the case of the "costs" category, the amount visible in the financial statements was reduced by the amount of integration costs recorded as general administrative expenses and depreciation. In the case of the "income" category, the amount of the income statement comprising the result from banking activities was adjusted for the integration costs recorded under other operating costs and the gain on bargain purchase of the Core Business of the RBPL.

(1) Net profit in relation to average equity, calculated based on quarter-end balances.

(2) Net profit in relation to average assets, calculated based on quarter-end balances.

(3) Net interest income in relation to average assets, calculated based on quarter-end balances. Due to a significant increase in the balance sheet total as of 31 October 2018 and the prospective recognition of the interest result of the acquired Core Business of RBPL for the last two months of 2018 in the Bank's interest income - for the fourth quarter of 2018 the weighted average number of days was assumed.

(4) Total general administrative expenses, amortization and depreciation in relation to total net banking income, calculated as the total of net interest income, net fee and commission income, dividend income, net trading income, net investment income, result on hedge accounting and other operating income and expenses.

(5) Net impairment allowances on loans and advances and provisions for contingent liabilities in relation to the average balance of gross loans and advances to customers measured at amortised cost, calculated based on quarter-end balances.

(6) Net loans and advances to customers in relation to customer deposits, balance at the end of the period.

(7) Gross loans and advances to customers in relation to total liabilities to customers, debt securities issued, loans from other banks and subordinated liabilities, balance at the end of the period

 

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