BOŚ S.A. Group 1H 2015

Transcription

1 BOŚ S.A. Group 1H 2015

2 Key financial data of BOŚ S.A. Group 1H H 2015 Change Y/Y 1Q Q 2015 Change q/q Net interest income ,5% ,0% Net commission & fee income ,1% ,8% Net operating income ,3% ,9% Gross profit ,0% ,5% Net profit ,2% (737) x Group assets (m PLN) 16,0 14,0 12,0 Group loans and deposits (m PLN) 88% 92% 100% 80% ,0 8,0 6,0 14,2 12,5 13,2 14,4 60% 40% 4,0 2,0 20% , % Loans Deposits Loans/deposits Eco-loans in total loans balance 27,7% 25,8% 26,5% 29,6% 12,06% 12,75% Group BOŚ CAR and Tier1 14,03% 14,01% 12,70% 22,7% 23,9% 10,30% 9,90% 10,46% 10,58% 9,58% CAR Tier

3 Key information about BOŚ S.A. Group BOŚ S.A. Group 100% BOS Finance AB BOŚ Ekosystem sp. z o.o. 100% Bank Ochrony Środowiska S.A. 100% BOŚ Eko Profit S.A 100% BOŚ Invest Management Sp. z o.o. 100% MS Wind Sp. z o.o. 100% 99,998% 100% Dom Maklerski Banku Ochrony Środowiska S.A. BOŚ Nieruchomości Sp. z o.o. 0,002% BOŚ Nieruchomości Sp. z o.o. SKA Structure 17 Branches 78 Operating branches Headquarters 11 Corporate centers Shareholders Number od branches 38,12% 56,62% ,26% H H 2015 NFOŚiGW ING OFE and ING DFE Others 3

4 Customers of the Bank Source: Bank, numbers in thousands Number of customers Number of customers using electronic channels +7 thou +1 thou H H 2015 Retail customers H H 2014 Number of accounts* +8 thou +11 thou H H H H 2015 * Including savings accounts 4

5 Marcroeconomic background 1/2 5 4 GDP, consumption and investment dynamics 6 % YoY GDP consumption investment (right axis) % YoY % YoY Inflation CPI core inflation Employment and wages dynamics Unemployment rate % YoY % YoY employment nominal wage (right axis) real wage (right axis) % K YoY annual change in number of unemployed unemployment rate

6 Marcroeconomic background 2/2 30 Deposits dynamics % YoY % YoY Loans dynamics % YoY % YoY deposits deposits od individuals deposits of institutions loans consumer loans institutional loans mortgages % Interest rates 5,0 PLN PLN exchange rate 4,0 5 4,5 3,5 3,0 3 4,0 2,5 NBP reference rate WIBOR 3M 5y bond yield PLN/EUR PLN/USD (right axis) PLN/CHF (right axis) 1 3,5 2,0 6

7 Ratios of BOŚ S.A. Group Net interest margin vs net interest income (m PLN) ROA vs total assets (bn PLN) ,6% 1,5% 1,6% 2,0% 20 1,5% ,2% H H 2015 Net interest income Net interest margin (right axis) 1,0% 0,0% ,7 19,5 19,9 18,4 0,4% 0,3% 0,4% 0,0% H H 2015 Total assets ROA (right axis) 1,0% 0,5% 0,0% ROE vs capital (m PLN) C/I vs total income (m PLN) ,4% 4,4% 4,5% ,3% H H % 4% 2% 0% ,5% 73,4% 71,5% 73,7% H H % 80% 70% 60% 50% Capital ROE (right axis) Total income C/I (right axis) 7

8 Financial results of BOŚ S.A. Group for 1H 2015 thou PLN Item 2Q Q 2015 Zmiana 1H H 2014 Zmiana Net interest income ,0% ,5% Net commission & fee income ,8% ,1% Dividend income x ,9% Net operating income x x Result on investment securities ,3% ,1% Net income on hedge accounting ,3% x Foreign exchange result ,9% ,1% Operating profit ,9% ,3% General administrative expenses ,1% ,7% Net impairment loses ,5% ,3% Gross profit ,5% ,0% Net profit x ,2% Main reasons for the decrease of the results in 1H: Higher financing costs in connection with the second phase of the consolidation of public finance. Significant rise of contributions to the Bank Guarantee Fund. The negative net trading income of DM BOŚ following the decision of the Swiss National Bank to cease to maintain a fixed exchange rate of the Swiss Franc against Euro. Additional provisions for loans. Gross profit of the Bank (m PLN) Net profit of the Bank (m PLN) H H H H 2015

9 Result on banking activities of BOŚ S.A. Group Result on banking activities of BOŚ S.A. Group (m PLN) +10 m 21% 24,4% % 55% 24,2% 51,4% 1Q Q 2015 Net interest income Net fee and commission income Others Result on banking activities of BOŚ S.A. Group (m PLN) in

10 Balance sheet of BOŚ S.A. Group m PLN Item Change vs Change vs Structure of the balance sheet as at : Assets Loans and advances to customers ,7% 4,6% Derivative financial instruments ,4% -2,2% Cash and deposits with the Central Bank ,8% -29,8% Deposits with other banks, loans and advances to other banks ,2% 19,8% 25,1% 8,5% Loans and advances to customers Securities Other assets ,4% -6,5% Total assets ,1% 1,6% 66,4% Cash and other assets Amounts due to customers ,4% 2,2% Amounts due to other banks ,1% 17,8% Liabilities under banking securities issued ,9% 0,2% Other liabilities ,4% 582,7% Total equity ,8% -2,6% Total liabilities ,1% 1,6% Credits / Deposits 91,5% 89,5% 87,8% 3,7 p.p. 2,0 p.p. 7,6% 5,3% 1,8% 12,7% Liabilities Amounts due to customers Liabilities under banking securities issued Amounts due to other banks Total assets (m PLN) ,6% Other liabilities Equity 10

11 Liabilities per division Category Division Customers Corporate and public finance (5.8 bn PLN) Corporate customers (4.8 bn PLN) Public finance (1.0 bn PLN) Amounts due to customers (14.4 bn PLN) Retail clients (7.3 bn PLN) BOŚ S.A. Group Debt securities issued (2.5 bn PLN) Loans from financial institutions and ecolological funds (1.3 bn PLN) Loans and advances from international financial institutions (1.2 bn PLN) Funds intended for lending and other clients (0.1 bn PLN) Subordinated debt (0.6 bn PLN) 11

12 Gross loans and advances per division Division Customer group including Loan portfolio (capital as of ) of which eco-loan portfolio Corporate clients (6.3 bn PLN) Medium and large enterprises 2.7 bn PLN Corporate and public finance Public finance (2.4 bn PLN) Small enterprises Local governments 3.6 bn PLN 2.1 bn PLN 3.9 bn PLN (44.5% 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 0.15 bn PLN 4.73 bn PLN 0.15 bn PLN (3.0% of the retail division s loan portfolio) 12

13 Eco-loans Balance of eco-loans (bn PLN) Constant increase of eco-loans share in total loans. +36% 3,7% 20,2% Retail 2,8 3,4 2,9 4,0 76,1% Public finance Corporate Eco-loans sale (bn PLN) Bank is focused on financing projects in the following areas: energy efficiency and renewable energy sources. 2,4% 2,1% +125% Retail 2,2 1,9 1,8 Public finance Corporate 0,8 95,5% H H 2015

14 Lending portfolio quality bn PLN 21% 37% Retail Public finance Corporate 42% 13,5 12,8 12,5 18% 46% 13,2 36% 1% 0% 49% 50% 45% 55% -0,3 Gross loans and advances Write-offs Net loans and advances -0,3 Gross loans and advances Write-offs Net loans and advances Ratio of non-performing loans by segments 14,5% 16,5% 7,1% 6,0% 5,5% 6,1% 7,2% 8,0% 14 Corporate, public finance and loans for other clients (including banks) Mortgages Other retail Retail total

15 Brokerage DM BOŚ Number of accounts (in thou) Forex Internet 70,7 73,2 76,9 Total 80,9 83,4 67,0 10,5 11,0 11,8 Source: DM BOŚ IH IH 2015 IH IH 2015 IH IH 2015 Market shares (transactions during trading session) Futures - WSE 24,4% Shares - NewConnect 17,6% 20,2% 21,9% Shares - WSE 11,4% 12,8% 2,4% 2,6% 3,6% 15 IH IH 2015 Source: Warsaw Stock Exchange IH IH 2015 IH IH 2015

16 16 Important events for BOŚ S.A. Group in 1H 2015 Important events Balance of eco-loans as at 30 June 2015 amounted to PLN 4,0 bn PLN, which accounted for 29.6% of the total loan balance. The increase in the market share to 3.6% in the first half of 2015 and further increase of the number of funds offered on the platform BossaFund. Introduction of new tools by DM BOŚ: Korelacje BossaFX and BossaToken. Prizes and awards BOŚ, as one of 3 Polish entities, among 1000 European entities, which allocate most funds for R&D. Ranking 2014 EU Industrial R&D Investment Scoreboard was prepared by European Commission. 1st place for EKOlokata Bez Kantów in the rankings by: egospodarka.pl (January), TotalMoney.pl (Jauary, February, March). 1st place for a MasterCard Gold BOŚ card in the ranking of the best credit cards Gold Credit Card for everyone. 1st place for EKOlokata Premium in the ranking of 3-month deposits by Bankier.pl 1st place for account More for less in the ranking of current accounts by Totalmoney.pl. 1st place for EKOlokata Specjalna BOŚ in the ranking of long-term deposits by Totalmoney.pl 3rd place for BOŚ EKOsystem in the category of Financial Innovation of the year in the sixth edition of the "Golden Banker" in The Bull and Bear award from Parkiet newspaper BossaFX was selected the forex platform of the year and nominated in the Best Brokerage House category. DM BOS awarded with a statue of the bull by the Warsaw Stock Exchange for the most active market maker in the futures market in FxCuffs 2015 Award in the category of Polish Forex Broker of the Year. Award the Financial Brand of the Year 2015 from Gazeta finansowa in the category of brokerage houses. KDPW prize - DM BOS awarded for implementation of netting of the securities. TGE award for DM BOS for the largest number of customers acquired in the electricity market in The "Golden Turnover" award by the Warsaw Commodity Clearing House for the highest activity on the new financial instruments Financial Order Home & Market for BossaZagranica in the category of investment product.

17 17 New projects and products

18 MasterCard Gold - Nr 1 credit card in Poland Nr 1 cr5edit card in Polsce according to ranking by TotalMoney.pl, Guaranteed 150 PLN for making card transactions for the total amount of min. 200 PLN The credit limit without interest up to 56 days One of the lowest interest rate of the market - only 8.99% Discounts up to 55% in 2000 shops all over Poland within Buy & Smile discount program Free edition and usage of the card in case of an active user High credit limit - up to PLN in the GOLD tariff From 26 January to 19 April the Bank organized a lottery called Pay with a card win ECOprizes Prizes: Toyota Auris Touring Sports Hybrid and 51 smartphones 18

19 EKOlokata z Bonusem product was implemented in May 2015 Deposit for loyal clients Parameters: Period of time - 12 months Interest rate 2.50% Monimum amount PLN Maximum amount no limit In case of earlier withdrawal like in a current account Extension of the deposit in accordance with the interest rate applicable on the date of renewal An additional bonus of 0.5% of the deposit amount for the customer who: makes non-cash transactions of at least 300 PLN per month maintains the average monthly balance on current account in the amount of 10% of the deposit 19

20 EKOkonto bez Kosztów product was implemented in April st position in the ranking of current accounts oprepared by TotalMoney.pl (at 4th August 2015) 0 PLN for opening and maintaining an account 0 PLN for the cash withdrawal from all ATMs in Poland 0 PLN for domestic electronic transfers 0 PLN for establishing and implementing direct debits 0 PLN for access to electronic banking 0 PLN for the issuance and use of a debit card (with payment card in the amount of 300 PLN / month; otherwise the fee is 5 PLN) Additional offers: I II III Increased interest rates on savings accounts More for less to 4% per year, provided that 1000 PLN will be transferred every month to EKOkonto bez Kosztów The customer can receive a reward 600 PLN for a bike or a sport equipment if he/she declares to pay with the debit card 900 PLN each month of the promotion. If the above condition will not be met, the client will be charged a fee for the debit card in the amount of 10 zł The customer receives the cash equivalent of the prize (600 PLN) if the credit card is issued with min. limit of 3000 PLN and the client buys sport equipment of min. worth of 600 PLN with this card (within the network of partner stores) 20

21 EKOloan for the GEOBIKE bike product was implemented in April 2015 The interest rate of EKOloan on the GEOBIKE bike: up to 36 months fixed 8%, over 36 months variable WIBOR 6M pp margin The amount of installment for the Touring model is 90 PLN in the breakmonth repayment at 40 months (the cost of financing options bicycle at EKOpożyczką is PLN, while there is an option to purchase for cash for PLN) Additionally, with timely repayments of interest will be reduced to 0% for the last 3 installments According to GEOBIKE, riding 100 km on the electric bike costs 1 PLN Using an electric vehicle promotes the protection of the environment by reducing fumes On one battery charge the bike can travel 50 to 80 km and its loading is done with conventional 230V socket and lasts 120 minutes (80% capacity) or 4h to full capacity 21

22 Program Prosumer ( Prosument ) In February 2015 BOŚ signed a contract for Prosumer program and is the only bank taking part in it. The aim of the program: to support distributed and renewable energy sources. Prosumer is a line of a financial contribution (grant of 20 or 40%) of the purchase and installation of micro-installations of renewable electricity or electricity and heat Loand were granted between 24th April and 31st July 2015 At the moment Bank is preparing for the second round of the program. The program promotes new technologies, renewable energy and the attitude of prosumer (including building eco-awareness), and also affects the development of the market for equipment suppliers and installers and increasing the number of jobs in the sector. 22

23 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 Help in completing the formalities Preferential financing up to 100% of investment costs Insurance 23

24 Loan with good energy Product for companies and local governments that are interested in investing in installations using renewable energy sources. A unique feature of the loan is the ability to adjust the amount of loan installments to the variable efficiency of renewable energy sources installations. The loan period can be up to 20 years. 24

25 25 Appendices

26 Financial results of BOŚ S.A. thou PLN Change Interest income and similar income ,6% Interest expense and similar charges ,6% Net interest income ,8% Fee and commission income ,2% Fee and commission expense ,8% Net commission & fee income ,2% Dividend income ,4% Net trading income x Result on investment securities ,8% Result on hedge accounting x Foreign exchange result ,7% Other operating income ,5% Other operating expenses ,6% Net impairment loses ,3% General administrative expenses ,8% Operating profit ,9% Gross profit ,9% Income tax charge ,6% Net profit ,3% 26

27 Financial results of BOŚ S.A. Group thou PLN Change Interest income and similar income ,2% Interest expense and similar charges ,3% Net interest income ,5% Fee and commission income ,1% Fee and commission expense ,4% Net commission & fee income ,1% Dividend income ,9% Net trading income x Result on investment securities ,1% Result on hedge accounting x Foreign exchange result ,1% Other operating income ,6% Other operating expenses ,5% Net impairment loses ,3% General administrative expenses ,7% Operating profit ,0% Gross profit ,0% Income tax charge ,9% Net profit ,2% 27

28 Consolidated statement of financial position thou PLN Change Cash and deposits with the Central Bank ,8% Deposits with other banks, loans and advances to other banks ,2% Held-for-trading securities ,3% Derivative financial instruments ,8% Hedging derivatives ,7% Loans and advances to customers ,7% Investment securities ,4% - available for sale ,8% -held-to-maturity ,8% Assets held for sale 50 - x Intangible assets ,3% Property, plant and equipment ,2% Income tax assets ,7% Other assets ,6% Total assets ,1% Amounts due to the Central Bank ,4% Amounts due to other banks ,1% Derivative financial instruments ,5% Hedging derivatives ,7% Deposits from customers ,4% Liabilities under banking securities issued ,9% Subordinated debt ,0% Provisions ,8% Income tax liabilities ,5% Other liabilities ,9% Equity ,8% 28 Total equity and liabilities ,1%

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. 29

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