2011 FINANCIAL RESULTS. Double digit profit growth, exceptionally well positioned for 2012

Transcription

1 2011 FINANCIAL RESULTS Double digit profit growth, exceptionally well positioned for 2012 Warsaw, March 20th, 2012

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. 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. Bank does not undertake any obligation to update or publicly release any revisions to any forward-looking statements contained herein. 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. 2

3 EXECUTIVE SUMMARY y/y Net Profit growth in Q4 enabling 2011 Net Profit at 2.9 bln PLN, y/y Sustainable Operating Profit growth at y/y confirming high quality of results Double digit growth of key retail y/y and corporate y/y lending enabling market share gains Positive development of retail +5 y/y and double digit growth of corporate deposits y/y achieved thanks to careful liquidity and spread management Key strategic advantages in terms of capital Core Tier I 17.0, funding L/D 88.2 and cost of risk 0.63 further strengthen 3

4 NET PROFIT NET PROFIT (PLN mil.) ,7 +0, ,8 ROE 4Q 10 3Q 11 4Q 11 Normalised y/y Net Profit growth in Q4 enabling 2011 net profit up y/y, ROE 14.2, delivered on strong capital base of Core Tier Normalised ROE at 20.8 assuming Core Tier I 10 4

5 OPERATING PROFIT OPERATING INCOME (PLN mil.) , , , OPERATING PROFIT (PLN mil.) 4Q 10 3Q 11 4Q , , , OPERATING COSTS (PLN mil.) 926-0, , , Q 10 3Q 11 4Q Q 10 3Q 11 4Q Operating profit up y/y, thanks to +7.1 y/y operating income growth and good cost control C/I improved y/y by +3.1 p.p. to

6 OPERATING INCOME OPERATING INCOME (PLN mil.) +6,3 +0,7 +7, ,1 +1,6 +7, ,5y/y ,4y/y ,7y/y ,8y/y 4Q 10 3Q 11 4Q Total net interest income* Total F&C Other income Operating income from core activity up +7.5 y/y, driven by NII growth 6 (*) Total net interest income, dividends and other income from equity investments including swap points

7 TOTAL NET INTEREST INCOME AND NET INTEREST MARGIN TOTAL NET INTEREST INCOME* (PLN mil.) +14,7 +3,8 +9, Q 10 3Q 11 4Q NET INTEREST MARGIN +0,1pp -0,1pp +0,1pp 3,6 3,7 3,6 3,6 3,7 4Q 10 3Q 11** 4Q 11** NII growing +9.8 y/y thanks mainly to volume growth, supported by quaterly dynamic NIM at a very good level, increased by +0.1p.p. y/y 7 (*) Total net interest income, dividends and other income from equity investments including swap points (**) On comparable basis

8 RETAIL AND CORPORATE LOANS RETAIL (PLN mil.) CORPORATE (PLN mil.) +16,4 +2,8 +18,9 +9, ,1q/q +23, ,1q/q ,6q/q +11, ,6q/q Dec 10 Sep 11 Dec 11 Dec 10 Sep 11 Dec 11 Mortgage PLN, Cash Other Strategic products MID & SME Other* Strategic products Solid growth in strategic lending areas, retail (+23.1 y/y) and corporate (+11.3 y/y) allowing double-digit growth in total volumes supported by quaterly dynamic 8 Loans volume excluding PJSC UniCredit Bank in Ukraine (*) Including non quoted debt securities and securities issued by local governments classified as AFS

9 KEY RETAIL LENDING PRODUCTS SALES PLN MORTGAGE LOANS SALE (PLN mil.) +26,9 CASH LOANS SALE (PLN mil.) +18, M 10 12M 11 12M 10 12M 11 Strong sales of consumer loans and mortgages in PLN 9

10 CORPORATE SEGMENT PUBLIC SECTOR FINANCING (PLN mil.) +69, M 10 12M 11 Exceptional growth in Public Sector, capturing country strategic investments 10

11 RETAIL SAVINGS AND CORPORATE DEPOSITS RETAIL (PLN mil.) CORPORATE (PLN mil.) +5,0 +2,4 +15,4 +13, Retail Deposits MF Dec 10 Sep 11 Dec 11 Dec 10 Sep 11 Dec 11 Commercial deposits + Repo + SBB Public sector Retail deposits grew by +5.0 y/y; mutual funds influenced by market uncertainty Commercial corporate deposits increase by y/y, thanks also to seasonal, exeptional end-year peak 11 Deposits volume excluding PJSC UniCredit Bank in Ukraine

12 NET FEES AND COMMISSIONS NET FEES AND COMMISSIONS (PLN mil.) +3,4-3,5-2, y/y ch ,5-4,8 +29, ,8 4Q 10 3Q 11 4Q Other Lending Cards Capital market related* Fees and commissions up by +3.4 y/y driven by lending fees (*) Revenues on mutual funds and brokerage 12

13 OPERATING COSTS OPERATING COSTS (PLN mil.) -0,9-1, , y/y ch , , ,2 4Q 10 3Q 11 4Q Payroll costs Depreciation Other administrative expenses Costs under control +0.6 y/y, including impact of increased mandatory costs for deposit guarantee fund 13

14 ASSETS QUALITY (*) NPL RATIO 7,0 6,8 6, COST OF RISK (***) Dec 10 Sep 11 Dec 11 Performing (**) NPL (**) NPLratio () PROVISION COVERAGE RATIO 0,68 0,63 72,7 75,1 73, Dec 10 Sep 11 Dec 11 Cost of risk at 63bp confirming leadership in risk management NPL ratio slightly improved to 6.6; coverage ratio at 73.0 (*) incl. PJSC UniCredit Bank in Ukraine 14 (**) Gross receivables including debt securities eligible for re-discounting at NBP, net investments in finance lease, non-quoted securities, reverse repo and BSB (***) Pekao Group, incl. provisions on derivatives

15 CONCLUSIONS Solid results with double digit net profit growth DRIVEN BY SUSTAINABLE, INCREASING REVENUES STREAM AND BEST IN CLASS COST CONTROL CONTINUED POSITIVE business development with SOUND VOLUMES growth in ALL key STRATEGIC AREAS BALANCE SHEET STRENGTHS IN TERMS OF CAPITAL, LIQUIDITY, ASSET QUALITY WERE CONFIRMED AS DISTINGUISHED FEATURES OF PEKAO 15

16 2012 DEFINED, CLEAR PRIORITIES Business as usual implementing linear improvement initiatives to keep faster than the market delivery in key retail lending products further costs improvements actions while keeping investing Comprehensive cross segments action plan aligning positioning of the Bank to identified regions market potential. Enlargement of retail customer base, leveraging on our strong position in corporate, innovative products for young people and Euro 2012 exclusivity Reinforce our corporate leading position continuing lending momentum 2011 also through dedicated acquisition teams (Go Poland) 16

17 AGENDA APPENDIX 17

18 POLISH ECONOMY - OUTLOOK 2012 MACROECONOMIC SCENARIO 2011F/A 2012F GDP, y/y Consumption, y/y Investments, y/y Unemployment, eop CP I, M WIBOR, Reference rate, eop Exchange rate EUR, eop Exchange rate USD, eop Public sector deficit ( GDP)

19 POLISH BANKING SECTOR - OUTLOOK 2012 BANKING SYSTEM VOULUMES Loans, y/y retail, y/y - PLN mortgages - Consumer loans corporate, y/y - SME loans * F** Savings, y/y Deposits, y/y retail, y/y corporate, y/y Mutual funds, y/y * 2011 growth in loans was significantly distorted by the weakening of the zloty (FX adjusted growth rate was around 10) ** Growth rates excluding effects of FX movements (changes in the zloty value of existing FX loans)

20 20 POLISH ECONOMY TRENDS KEY PARAMETERS (1) 7,4 6,5 6,5 6,5 6 5,8 4,8 4,2 4,4 4,4 4,3 4,2 4,2 5,6 6,1 3,3 3,5 2,9 3 1,8 1,1 0,8 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q10 1Q11 2Q 11 3Q 11 4Q 11F 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 TRADE BALANCE ACCOUNT (EUR bl.) 6,7 4,8 4,8 3, ,6 5,4 3 3,5 4,1 3,9 3,5 3 3,3 1,6 2,3 2,2 1,7 2,1 2Q 10 3Q 10 4Q 10 1Q 11 2Q 11 3Q 11 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q10 1Q11 2Q 11 3Q 11 4Q 11F 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 4Q 11F GDP ( YoY) INVESTMENTS ( YoY) 23, ,6 17,1 15,1 15,2 6 7,8 0,4 0,9-1,7-12,4 CONSUMPTION ( YoY) -2,67-3,4-3,3-4,5-4,0-1,2-1,1-1,5-1,6-1,4-1,7-2,5-3,3-1,9-2,28-2,68-3,03-5,4-5,7-5,9 Source: Central Statistical Office; March 2007 Dec ,1-0,8-1,4-3,3 8,5 10,8 1Q 10 2Q 10 3Q 10 4Q 10 1Q 11 2Q 11 1Q 09 2Q 09 3Q 09 4Q 09 3Q 11 4Q 11F

21 21 CORPORATE EMPLOYMENT (ths. eop) ,8 5,0 5,2 4,2 4,5 4,7 4,2 3,8 2,9 2,2 1,6 1, , Q 06 2Q 07 4Q 07 2Q 08 4Q 08 2Q 09 4Q 09 2Q 10 4Q10F ,7-2,3-2,1-1,0 UNEMPLOYMENT () 14,7 12,9 13,0 13,1 11,5 12,1 11,5 11,9 11,9 11,6 12,2 12,1 11,211,2 10,8 10,710,8 11,5 9,8 9,1 9,1 AVERAGE CORPORATE WAGES ( YoY) 11,8 12,0 11,0 9,8 10,1 8,9 7,8 7,8 6,3 4,7 3,8 3,4 3,5 3,6 2,0 3,53 4,33 3,73 3,7 2,7 4,1 3,2 3,6 3,3 2 2,4 3,0 2,2 3,3 4,3 2,2 2,9 4,3 3,8 5,2 4,6 5,3 4,6 4,1 4,6 RETAIL SALE ( YoY) 6,7 17,7 4,8 16,2 17,0 15,9 4,8 4,8 3,5 5,5 5,6 5,1 5,3 3,3 1,6 4,5 5,2 3,8 2,3 1,7 6,4 3,0 9,8 9,1 2,2 14,4 3,5 10,310,6 2,8 4Q 06 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10F 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q10 1Q 11 2Q 11 3Q 11 4Q 11F 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q10 1Q 11 2Q 11 3Q 11 4Q 11F 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q10 1Q 11 2Q 11 3Q 11 4Q 11F Avg. Corporate Wages CPI 15,4 20,7 11,8 6,4 2,1 2,5 3,0 1Q 07 2Q 07 3Q 07 4Q 07 1Q 08 2Q 08 3Q 08 4Q 08 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q10 1Q 11 2Q 11 3Q 11 4Q 11F POLISH ECONOMY TRENDS KEY PARAMETERS (2) Source: Central Statistical Office; March 2007 Dec 2011

22 22 POLISH ECONOMY TRENDS KEY PARAMETERS (3) EXCHANGE RATES 5,00 4,50 4,00 3,50 3,00 2,50 2,00 PLN/EUR PLN/USD 1,50 Jan-00 Jul-00 Jan-01 Jul-01 Jan-02 Jul-02 Jan-03 Jul-03 Jan-04 Jul-04 Jan-05 Jul-05 Jan-06 Jul-06 Jan-07 Jul-07 Jan-08 Jul-08 Jan-09 Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12 INFLATION, INTEREST RATES 8 4,9 5,9 6,2 5,9 6,3 6,5 6,7 6,6 6,5 6,6 6,9 6,6 7 4,2 3,7 3,53,5 3,5 3,5 3,5 3,4 3,53,5 3,5 3,3 3,1 2,9 2,6 2,42,2 2,3 2,0 2,8 2,0 2,5 3,1 2,7 5,0 4,8 4,3 4,5 4,54,54,5 4,5 4,54,54,54,5 4,6 4,3 4,2 4,3 4,1 4,3 4,2 4,0 3,9 3,83,83,8 3,6 3,6 3,9 3,9 3,9 3,9 3,8 3,8 3,9 3,9 4,0 4,1 4,1 4,2 4,3 4,2 4,2 4,2 4,2 4,3 4,2 4,2 4,1 4,2 4,2 4,3 4,5 4,6 4,4 4,5 4,7 4,7 4,7 4,8 4,9 5,0 5,0 5 5, ,5 5,3 5,85,85,8 4,2 4,0 4,1 4,0 6,06,06,06,06,0 4,4 4,64,84,8 4,5 5,8 3,7 5,0 3,3 4,3 2,8 4,0 3,6 3,3 4,0 3,83,83,8 3,5 3,6 CPI 3M WIBOR REF. RATE 3,5 3,50 3,50 3,50 3,5 3,5 3,53,5 3,6 3,8 1 Jan-08 Mar-11 May-08 Jul-08 Sep-08 Nov-08 Jan-09 Mar-11 May-09 Jul-09 Sep-09 Nov-09 Jan-10 Mar-11 May-10 Jul-10 Sep-10 Nov-10 Jan-11 Mar-12 May-11 Jul-11 Sep-11 Nov-11 Jan-12 Source: NBP

23 BANKING SECTOR TRENDS KEY PARAMETERS - YoY (1) HOUSEHOLDS AND CORPORATE LENDING DYNAMIC IN THE POLISH BANKING SECTOR ( YoY) HOUSEHOLDS AND CORPORATE DEPOSITS DYNAMIC IN THE POLISH BANKING SECTOR ( YoY) Households Corporate Households Corporate Q 00 2Q 00 3Q 00 4Q 00 4Q 01 4Q 02 4Q 03 4Q 04 4Q 05 4Q 06 4Q 07 4Q 08 4Q 09 4Q 10 4Q 11 1Q 00 2Q 00 3Q 00 4Q 00 4Q 01 4Q 02 4Q 03 4Q 04 4Q 05 4Q 06 4Q 07 4Q 08 4Q 09 4Q 10 4Q 11 TOTAL SECTOR LENDING ( YoY) Q Q 01 1Q 02 1Q 03 1Q 04 1Q 05 1Q Q 07 1Q Q Q Q 11 TOTAL SECTOR DEPOSITS ( YoY) Q Q Q 02 1Q 03 1Q 04 1Q 05 1Q 06 1Q 07 1Q Q Q 10 1Q Source: NBP; March 2000 Dec 2011

24 BANKING SECTOR TRENDS KEY PARAMETERS - YTD (2) HOUSEHOLDS LENDING DYNAMIC IN THE POLISH BANKING SECTOR ( YTD) HOUSEHOLDS DEPOSITS DYNAMIC IN THE POLISH BANKING SECTOR ( YTD) XII' I II III IV V VI VII VIII IX X XI XII XII' I II III IV V VI VII VIII IX X XI XII CORPORATE LENDING DYNAMIC IN THE POLISH BANKING SECTOR ( YTD) CORPORATE DEPOSITS DYNAMIC IN THE POLISH BANKING SECTOR ( YTD) I II III IV V VI VII VIII IX X XI XII -10 XII' I II III IV V VI VII VIII IX X XI XII 24 Source: NBP; Jan 2007 Dec 2011

25 BANKING SECTOR TRENDS NON-PERFORMING LOANS (3) HOUSEHOLDS NPL IN THE POLISH BANKING SECTOR 9,1 10,0 11,3 14,8 15,8 16,9 18,0 17,80 17,2 18,20 17,80 13,1 1,2 1,3 1,4 1,5 1,5 1,6 1,8 1,9 2,0 2,10 2,20 2,30 CORPORATE NPL IN THE POLISH BANKING SECTOR 9,9 11,8 11,2 8,1 6,6 7,5 13,9 13,3 12,4 9,6 9,2 9,9 14,1 14,3 13,4 9,7 9,5 12,9 8,7 12,6 12,5 7,7 8,2 7,5 Mar 09 Jun 09 Sep 09 Dec 09 Mar 10 Jun 10 Sep 10 Dec 10 Mar 11 Jun 11 Sep 11 Dec 11 Mar 09 Jun 09 Sep 09 Dec 09 Mar 10 Jun 10 Sep 10 Dec 10 Mar 11 Jun 11 Sep 11 Dec 11 Mortgage Cash 12,2 12,2 12,4 11,5 11,2 11,5 10,9 10,7 10,5 10,1 9,6 8,4 6,3 Dec 08 Mar 09 Jun 09 Sep 09 Dec 09 Mar 10 Jun 10 Sep 10 Dec 10 Mar 11 Jun 11 Sep 11 Dec 11 Total corporate SME Corporate 25 Source: NBP

26 26 SELECTED DATA

27 CONSOLIDATED INCOME STATEMENT mln PLN 4Q 10 3Q 11 4Q 11 Q/Q Y/Y Total 10 Total 11 Y/Y Net interest income (1) ,8 14, ,8 Net fee and commission ,7-3, ,4 Operating income ,7 6, ,1 Operating costs ,1-0, ,6 OPERATING PROFIT ,4 13, ,8 Provisions ,5 3, ,0 PROFIT BEFORE INCOME TAX ,1 23, ,8 Income tax ,4 38, ,7 GROUP NET INCOME (2) ,6 19, ,8 Cost/Income Ratio () 49,6 47,1 46,2-0,9-3,4 50,6 47,5-3,1 Cost of Risk incl. UCB () 0,6 0,6 0,6-0,1-0,1 0,7 0,6-0,1 Cost of Risk excl. UCB () 0,6 0,6 0,6-0,0-0,0 0,6 0,6-0,0 ROE () 12,9 15,1 14,7-0,4 1,8 13,1 14,2 1,1 ROE normalised () (3) 18,8 22,3 20,8-1,5 2,0 19,3 20,8 1,5 CAR () 17,6 17,1 17,0-0,1-0,6 17,6 17,0-0,6 NIM () 3,6 3,7 3,6-0,1 0,0 3,6 3,7 0,1 (1) Total net interest income, dividends and other income from equity investments including swap points 27 (2) Net profit attributable to equity holders of the Bank (3) assuming Core Tier I 10

28 ACTIVITY BY SEGMENTS mln PLN Retail Banking Private Banking Corporate&Investment Banking Assets&Liabilities Management & Others (2) Group Total 10 Total 11 Y/Y Total 10 Total 11 Y/Y Total 10 Total 11 Y/Y Total 10 Total 11 Y/Y Total 10 Total 11 Y/Y Net interest income (1) Non-interest income Operating income Operating costs OPERATING PROFIT PROFIT BEFORE INCOME TAX ,4 28, (1) Total net interest income, dividends and other income from equity investments excluding swap points 28 (2) including trx inside the Group

29 NET PROFIT OF THE GROUP - BANK AND ENTITIES cumulative in PLN million Group's share in capital/votes Y/Y n the Group's ne Bank Pekao S.A. Banking - Poland Entities - consolidated under full method PJSC UniCredit Bank Banking - Ukraine Centralny Dom Maklerski Pekao S.A. Brokerage Pekao Leasing Sp. z o.o. Leasing Pekao Bank Hipoteczny S.A. Mortgage Bank Pekao Pioneer PTE S.A. Pension Fund Pekao Faktoring Sp. z o.o. Factoring Pekao Financial Services Sp. z o.o. Servicing MF/PF Pekao Leasing Holding S.A. Leasing Centrum Kart S.A. Cards Centrum Bankowości Bezpośredniej Sp. z o.o. Call Centre Pekao Fundusz Kapitałowy Sp. z o.o. Business consulting Pekao Telecentrum Sp. z o. o. Services Holding Sp. z o.o. w likwidacji Entities - valued under the equity method Pioneer Pekao Investment Management S.A. Mutual Funds Krajowa Izba Rozliczeniowa S.A. Clearing Services Xelion. Doradcy Finansowi Sp. z o.o. Financial Advisory Central Poland Fund LLC PE/ES Fund Pirelli Pekao Real Estate Sp. z o.o. Real Estate Exclusions and consolidation adjustments Group Net Profit* (*) roup net profit attributable to equity holders of the Bank 29

30 PJSC UNICREDIT BANK IN UKRAINE GENERAL PICTURE mln PLN 4Q 10 3Q 11 4Q 11 YTD Q/Q Y/Y Total 10 Total 11 Y/Y Operating income Net profit Gross loans Retail Corporate Gross deposits Retail Corporate

31 CONSOLIDATED BALANCE SHEET mln PLN Dec 10 Sep 11 Dec 11 YTD Q/Q Y/Y 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 Other TOTAL ASSETS ,3 2,9 9,3 Amounts due to the Central Bank Amounts due to other banks Financial liabilities held for trading Amounts due to customers Debt securities in issue Amounts related with assets held for sale Other Total liabilities ,0 2,8 10,0 Total Shareholders' equity ,4 3,6 5,4 (*) including loans and advances from customers and receivables from finance leases 31

32 CUSTOMERS FINANCING mln PLN Dec 10 Sep 11 Dec 11 YTD Q/Q Y/Y Loans* retail corporate Non quoted securities Reverse repo transactions LOANS AND ADVANCES AT NOMINAL VALUE Other Nominal value adjustment Impairment losses Net loans and advances SECURITIES ISSUED BY LOCAL GOVERNMENTS** TOTAL CUSTOMERS FINANCING*** ,1 6,5 18,1 (*) including debt securities eligible for rediscounting at Central Bank, net investments in financial leases to customers. 32 (**) Securities issued by local governments classified as securities available for sale. (***) Total customers financing includes Loans and advances at nominal value and Securities issued by local governments.

33 SELECTED DATA Bank Dec 10 Sep 11 Dec 11 YTD Q/Q Y/Y Outlets ,2 0,2-1,2 ATM's ,9 0,7 0,9 Employees ,9-1,0-1,9 No of PLN current accounts (ths)* ,9 0,7 1,9 No of mortgage loan accounts (ths)** ,5 2,1 10,5 No of clients holding a consumer loan accounts (ths)*** Number of individuals with an access to electronic banking Pekao24 (ths) ,6-0,9-2, ,7 3,1 14,7 Number of individuals using mobile banking (ths) Number of business clients (SME) with an access to electronic banking PekaoFirma24 (ths) , ,9 3,6 14,9 Group Dec 10 Sep 11 Dec 11 YTD Q/Q Y/Y Employees ,0-0,7-2,0 (*) Number of accounts including pre-paid card accounts 33 (**) Retail clients accounts (***) PoŜyczka Ekspresowa (Express Loan)

34 LOANS EXPOSURE - SECTORS SECTOR DESCRIPTION* Services 16,5 16,9 Public administration 9,6 13,4 Real estate 12,6 12,4 Energy 11,8 10,3 Construction and timber industry 9,1 8,4 Manufacture of basic metals and fabricated metal products 6,1 6,1 Financial intermediation 6,2 5,7 Manufacture of chemical and pharmaceutical products 6,0 5,4 Transport 4,0 4,1 Manufacture of food products and beverages 3,9 3,4 Manufacture of pulp, paper and paper products, publishing and printing 2,6 2,9 Manufacture of vehicles 2,8 2,8 Telecommunication and IT 3,1 2,8 Other sectors 5,7 5,4 Total (*) Based on the Group data including current exposure and commitment 34

35 NET FEES AND COMMISSIONS NET FEES AND COMMISSIONS BREAKDOWN BY CATHEGORIES (PLN mil.) Q 10 2Q 10 3Q 10 4Q 10 1Q 11 2Q 11 3Q 11 4Q 11 Other Lending Cards MF Brokerage 35

36 MUTUAL FUNDS MUTUAL FUNDS VOLUMES (PLN mil.) MUTUAL FUNDS ASSETS STRUCTURE PPIM SA -23,7-5, Dec 10 Sep 11 Dec 11 MARKET SHARE () Money market & bonds Equity Balanced 15,6 13,4 12,1 Decrease of mutual funds by y/y due to adverse market conditions Dec 10 Sep 11 Dec 11 Change of mutual funds structure towards money market and bonds funds 36

37 KEY RETAIL LENDING PRODUCTS STOCK PLN MORTGAGE LOANS VOLUMES (PLN mil.) +26,0 +5,2 MID AND SME LOANS VOLUMES (PLN mil.) Dec 10 Sep 11 Dec 11 CONSUMER LOANS VOLUMES (PLN mil.) +15,2 +2,8 MID +11,3 SME +2, Dec 10 Sep 11 Dec 11 q/q ch. +2,7 +2, Dec 10 Sep 11 Dec 11 37

38 BALANCE SHEET MANAGEMENT COMMERCIAL ACTIVITY LOANS/ADVANCES AND AMOUNTS DUE TO CUSTOMERS - BREAKDOWN BY CURRENCY LOANS/ADVANCES AND AMOUNTS DUE TO CUSTOMERS - BREAKDOWN BY MATURITY ,6 0, ,4 29 Assets Liabilities Assets Liabilities PLN FX up to 1 year 1-5 years above 5 years 38

39 ASSETS QUALITY (*) (2) NPL RATIO 6,7 6,5 6, COST OF RISK (***) 0,64 0,64 Dec 10 Sep 11 Dec 11 Performing (**) NPL (**) NPLratio () PROVISION COVERAGE RATIO 74,1 76,8 73, Dec 10 Sep 11 Dec 11 Cost of risk at 64bp confirming Pekao competitive advantage in risk management NPL ratio slightly improved to 6.3, coverage ratio at 73.2 (*) excl. PJSC UniCredit Bank in Ukraine 39 (**) Gross receivables including debt securities eligible for re-discounting at NBP, net investments in finance lease, non-quoted securities, reverse repo and BSB (***) Pekao Group excl. Ukraine, incl. provisions on derivatives

40 ASSETS QUALITY - SEGMENTS BREAKDOWN RETAIL CORPORATE 5,9 5,9 5,8 7,7 7,4 7, Dec 10 Sep 11 Dec 11 Performing (**) NPL (**) NPLratio () Dec 10 Sep 11 Dec 11 Performing (**) NPL (**) NPLratio () (*) incl. PJSC UniCredit Bank in Ukraine 40 (**) Gross receivables including debt securities eligible for re-discounting at NBP, net investments in finance lease, non-quoted securities, reverse repo and BSB

41 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+ bbb-***** Outlook Stable Stable 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 Financial strength C- Outlook Watch** Stable/ Negative*** 41 Credit ratings dated on (*) On January 25, 2012 Fitch Ratings withdrew its "individual rating" and sustained "vialility rating" category (**) Rating under review (***) Outlook for Poland "stable" and for Polish banking sector "negative" (**** ) On 14 February 2012, the Standard & Poor's revised Pekao ratings as a consequence of Italy and UniCredit ratings downgrades (***** ) Banking Industry Country Risk Assessment (BICRA)

42 INVESTOR RELATIONS TEAM S CONTACT DETAILS Dariusz Choryło Executive Director ph.: dariusz.chorylo@pekao.com.pl Wioletta Reimer Director of IR Office Dorota Faszczewska-Ward IR Officer Iwona Milewska IR Officer Krzysztof Szlichciński IR Officer ph.: wioletta.reimer@pekao.com.pl ph.: dorota.faszczewska-ward@pekao.com.pl ph.: iwona.milewska@pekao.com.pl ph.: krzysztof.szlichcinski@pekao.com.pl Visit us at: