FINANCIAL RESULTS 1Q 2013 Better resilience, exceptional potential

Transcription

1 FINANCIAL RESULTS 1Q 2013 Better resilience, exceptional potential Warsaw,

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. 1

3 EXECUTIVE SUMMARY Net profit at mln PLN, in line with the plan, confirming better results resilience than the sector Key retail lending +16% y/y, supporting income generation with resilience in fee and commission and NIM at 3.5% Strict cost control, with -3.9% y/y decrease Stabilisation of CoR at 71 b.p. level 2

4 NET PROFIT NET PROFIT (PLN mil.) -6.3% 710,6 665,5 1Q 12 1Q 13 ROE Normalised 18.9% 17.3% Net Profit at mln PLN, resulting in ROE 11.2% on strong capital base of Core Tier1 19.5% Normalised ROE at 17.3%, assuming Core Tier1 10%, confirming sound profitability also in challenging environment 3

5 OPERATING PROFIT OPERATING INCOME (PLN mil.) -2.9% 1 917, ,5 OPERATING PROFIT (PLN mil.) -1.9% 1Q 12 1Q ,5 986,9 OPERATING COSTS (PLN mil.) -3.9% 910,8 875,6 1Q 12 1Q 13 1Q 12 1Q 13 4 Operating profit at mln PLN, with savings on costs partially offsetting pressure on net interest income C/I at 47% Note: On the sector comparable basis, including income from sale of investment portfolio and excluding share in profit of equity method consolidated entities

6 OPERATING INCOME OPERATING INCOME (PLN mil.) -2.9% 1 917, ,5 173,6 175,7 550,5 552,0 y/y ch. +1.2% +0.3% 1 193, ,8-4.9% 1Q 12 1Q 13 Net interest income F&C Other income Operating income at mln PLN, - 2.9% y/y following market wide pressure on net interest income Note: On the sector comparable basis, income from sale of investment portfolio and excluding share in profit of equity method consolidated entities 5

7 TOTAL NET INTEREST INCOME AND NET INTEREST MARGIN TOTAL NET INTEREST INCOME (PLN mil.) -4.9% 1 193, ,8 1Q 12 1Q 13 NET INTEREST MARGIN 3,6% 3,5% 1Q 12 1Q 13 NII at mln PLN, -4.9% y/y with NIM managed at 3.5% despite sharp rate decrease 6

8 PORTFOLIO VALUATION INCOME FROM SALE OF INVESTMENT PORTFOLIO AND AFS REVALUATION RESERVE (PLN mil.) 437,4 43,2 116,6 57,6 1Q 12 1Q 13 Income from sale of investment portfolio Revaluation reserve AFS (eop) Potential of more than 0.4 bln AFS revaluation reserve preserved for the future 7

9 RETAIL AND CORPORATE LOANS RETAIL (PLN mil.) CORPORATE (PLN mil.) +9.9% +0.9% -3.0% -1.4% ` +16.3% % Mar 12 Dec 12 Mar 13 Mar 12 Dec 12 Mar 13 Mortgage PLN, Cash Other Strategic products MID, SME, PS Other Strategic segments Key retail products up by +16.3% y/y results in retail loans +10% y/y continuing positive dynamics of previous quarters Corporate loans only marginally lower despite weak demand and growing price competition Note: Pekao Group - gross loans and loans equivalents combining public sector consistently for all periods, excluding PJSC UniCredit Bank in Ukraine 8

10 RETAIL SAVINGS AND CORPORATE DEPOSITS RETAIL (PLN mil.) CORPORATE (PLN mil.) +2.8% +2.4% -2.5% -3.5% % % Mar 12 Dec 12 Mar 13 Retail Deposits MF Mar 12 Dec 12 Mar 13 Commercial deposits + Repo + SBB Public sector Retail savings +2.8% y/y thanks to both deposits and mutual funds, while corporate deposits performance reflects price / volume trade-off management Note: Deposits volume excluding PJSC UniCredit Bank in Ukraine 9

11 NET FEES AND COMMISSIONS NET FEES AND COMMISSIONS (PLN mil.) +0.3% 550,5 552,0 89,5 91,3 105,5 109,1 y/y ch. +1.9% +3.4% 124,7 122,8-1.6% 230,7 228,8-0.8% 1Q 12 1Q 13 Other Lending Cards Capital market Fees and commissions confirming last year level despite weak loans demand and cut in interchange fees 10

12 OPERATING COSTS OPERATING COSTS (PLN mil.) -3.9% 910,8 875,6 y/y ch. 93,4 87,5 338,1 315,9-6.3% -6.6% 479,3 472,3-1.5% 1Q 12 1Q 13 Payroll costs Other administrative expenses Depreciation Continuation of excellent costs savings, which are decreasing by -3.9% y/y thanks to improvement in all categories 11

13 ASSETS QUALITY NPL 6.7% 7.5% 7.8% COST OF RISK Mar 12 Dec 12 Mar 13 0,58% 0,80% 0,71% Performing NPL NPL ratio (%) PROVISION COVERAGE RATIO 72,1% 64,7% 64,7% 1Q 12 4Q 12 1Q 13 Mar 12 Dec 12 Mar 13 Stabilisation in cost of risk, with Q1 ratio at level of 71 b.p., - 9 b.p. compared to Q4 one Coverage ratio unchanged at 64.7% Note: Pekao Group incl. PJSC UniCredit Bank in Ukraine 12

14 DYNAMICS OF PEKAO S OPERATING RESULTS VS. SECTOR - Q1 Y/Y NII F&C OTHER REVENUE 0,3% 11,4% -4,9% 3,0% Pekao -10,0% Sector Pekao -0,7% Sector Pekao Sector OPERATING INCOME OPERATING COSTS OPERATING PROFIT 0,2% -1,8% -1,1% -5,6% -4,0% -10,3% Pekao Sector Pekao Sector Pekao Sector Better than the sector dynamic on operating results Note: NBP data for sector (excluding Pekao), unconsolidated data for Pekao for comparability 13

15 CONCLUSION Start of the year in line with the plan, limiting net profit drop to single digit Operating profit kept close to 1 bln, supported by core revenues resilience, strong cost control and with only marginal contribution from sale of investment portfolio Key strategic retail lending continuing double digit growth Cost savings effectiveness, consolidation in cost of risk and potential coming from unrealised gains on investments give us comfort for the achievement of our plan 14

16 AGENDA APPENDIX 15

17 POLISH ECONOMY - OUTLOOK 2013 MACROECONOMIC SCENARIO F GDP, % y/y Consumption, % y/y Investments, % y/y Unemployment, % eop CPI, % M WIBOR, % eop Reference rate, % eop Exchange rate EUR, eop Exchange rate USD, eop Public sector deficit (% GDP) Note: Internal macroeconomic scenario 16

18 POLISH BANKING SECTOR - OUTLOOK 2013 BANKING SYSTEM VOLUMES F** Loans, y/y % retail, y/y % - Mortgages - Consumer loans corporate, y/y % 14.8* SME loans 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) Note: Internal macroeconomic scenario

19 18 POLISH ECONOMY TRENDS KEY PARAMETERS (1) GDP (% YoY) INVESTMENTS (% YoY) ,5 6,66,66,6 6,3 6,1 5,2 3,2 0,4 1 1,6 3,2 2,7 3,7 4,24,7 4,44,3 4,54,9 3,4 2,3 1,3 0,70,6 23,8 19,0 16,615,1 11,712,3 10,4 7,2 6,3 3,73,93,8 3,8 2,0 4,3 5,97,48,6 2,8 10,0 6,8 1,4-1,7-4, Q 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 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q13F GDP Pr Consumption contribution Net export contribution Investment contribution TRADE BALANCE ACCOUNT (EUR bl.) CONSUMPTION (% YoY) 6,7 4,84,7 3, ,6 5,4 3 1,2 2,3 2,2 1,7 3,2 3,7 3,4 3,33,2 2,5 1,4 1,7 1,3 0,2-0,2-0,4 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 11 1Q 12 2Q 12 3Q 12 4Q 12 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 10 1Q 11 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 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 10 1Q 11 2Q 11 3Q 11 4Q 11 1Q 12 2Q 12 3Q 12 4Q 12-2,7-3,4-3,3-4,5-4,0-5,4-5,7-5,9-1,2-1,1-1,5-1,6-1,4-1,6-2,5-3,3-1,9-3,2-1,6-2,1-2,4-2,6-0,4-1,4 Source: Central Statistical Office; March 2007 March 2013

20 19 POLISH ECONOMY TRENDS KEY PARAMETERS (2) CORPORATE EMPLOYMENT (ths. eop) ,8 5,0 5, ,2 4,5 4,7 4, ,8 2, ,2 1,6 1, , Q 06 2Q 07 4Q 07 2Q 08 4Q 08 2Q 09 4Q 09 2Q 10 4Q10F -1,7-2,3-2,1-1, UNEMPLOYMENT (%) Source: Central Statistical Office; March 2007 March 2013 AVERAGE CORPORATE WAGES (% YoY) RETAIL SALES (real terms, % YoY) 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 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 14,3 13, ,3 12,1 12,4 11,6 11,2 11,1 11,7 11,9 10,9 10,9 11,5 10,6 9,4 8,9 9,5 13,3 12,5 12,3 11,8 14,3 13,4 12,4 7,8 10,10,1 9,0 11,7 12,3 10,4 7,2 6,3 3,7 3,93,8 2,83,8 2,0 4,34,1 5,0 6,1 4,6 5,4 2,6 2,0 3,8 2,2 17,4 16, ,1 12,8 11,8 8,4 1 4,8 1 3,6 4,7 0,3 1,12,9 7,3 6 8,8 7,1 6,9 8,6 1,9-0,8 2,9 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 11 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 3Q 12 4Q 12 1Q 13 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 11 1Q 12 2Q 12 Avg. Corporate Wages CPI

21 20 POLISH ECONOMY TRENDS KEY PARAMETERS (3) EXCHANGE RATES INFLATION, INTEREST RATES 1, ,4 2,2 2,2 3,2 3,5 3,3 3 2,9 3,7 3,7 3,6 3,8 4,1 4,3 4,7 1,3 2,9 4,1 4,1 4 3,9 4,6 4, Source: NBP ,2 4,2 4,2 4,2 4,4 4,3 4,1 3,9 3,8 4,0 4,2 4,7 5,1 5,7 6,2 6,7 6,6 5,9 3,4 4,1 4,7 4,8 5,0 4,9 5,1 4,9 5 5 CPI REF. RATE 3M WIBOR 4,25 4Q 06 2Q 07 4Q 07 2Q 08 4Q 08 2Q 09 4Q 09 2Q 10 4Q10 2Q 11 4Q 11 2Q 12 4Q 12

22 21 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) TOTAL SECTOR LENDING (% YoY) TOTAL SECTOR DEPOSITS (% YoY) Source: NBP; March 2000 March 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 12 2Q 12 3Q 12 4Q 12 1Q Households Corporate Households Corporate Q 00 3Q 00 1Q 01 3Q 01 1Q 02 3Q 02 1Q 03 3Q 03 1Q 04 3Q 04 1Q 05 3Q 05 1Q 06 3Q 06 1Q 07 3Q 07 1Q 08 3Q 08 1Q 09 3Q 09 1Q 10 3Q 10 1Q 11 3Q 11 1Q 12 3Q 12 1Q 13 1Q 00 3Q 00 1Q 01 3Q 01 1Q 02 3Q 02 1Q 03 3Q 03 1Q 04 3Q 04 1Q 05 3Q 05 1Q 06 3Q 06 1Q 07 3Q 07 1Q 08 3Q 08 1Q 09 3Q 09 1Q 10 3Q 10 1Q 11 3Q 11 1Q 12 3Q 12 1Q 13 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 1Q 12 2Q 12 3Q 12 4Q 12 1Q 13

23 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) 50% 45% 40% 35% % 30% 25% % 25% 20% 15% 20% 15% 10% 10% 5% 0% 5% 0% -5% XII' I II III IV V VI VII VIII IX X XI XII -5% XII' I II III IV V VI VII VIII IX X XI XII CORPORATE LENDING DYNAMIC IN THE POLISH BANKING SECTOR (% YTD) 35% 30% 25% 20% 15% 10% 5% 0% CORPORATE DEPOSITS DYNAMIC IN THE POLISH BANKING SECTOR (% YTD) 17% 12% 7% 2% -3% -8% % I II III IV V VI VII VIII IX X XI XII -13% XII' I II III IV V VI VII VIII IX X XI XII Source: NBP; January 2007 March

24 23 BANKING SECTOR TRENDS NON-PERFORMING LOANS (3) 11,8% 11,2% 12,4% 13,3% 13,9% 14,1% 13,4% 14,3% 12,9% 12,6%12,5% 12,3% 12,2%12,2% 13,0% 13,3% 9,9% 9,7% 9,7% 9,9% 9,2% 9,6% 9,9% 9,7% 9,5% 9,4% 6,6% 8,1% 7,5% 8,7% 8,2% 7,7% 7,5% 7,6% 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 12 Jun 12 Sep 12 Dec 12 Mar 13 HOUSEHOLDS NPL RATIO IN THE POLISH BANKING SECTOR CORPORATE NPL RATIO IN THE POLISH BANKING SECTOR Source: NBP 18,0%17,8% 18,2% 17,8% 18,2% 17,8% 17,9% 16,9%17,2% 17,3% 17,3% 15,8% 11,3% 13,1% 14,8% 9,1% 10,0% 1,2% 1,3% 1,4% 1,5% 1,5% 1,6% 1,8% 1,9% 2,0% 2,1% 2,2% 2,3% 2,5% 2,6% 2,7% 2,8% 2,9% 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 12 Jun 12 Sep 12 Dec 12 Mar 13 7,5% 6,0% 3,5% 11,9% 10,1% 9,6% 12,2%12,2% 12,4% 11,5% 11,2% 11,5% 10,9% 11,1% 11,3%11,7% 10,7%10,5% 10,4% 8,4% 6,3% Mortgage Cash SME Corporate 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 Mar 12 Jun 12 Sep 12 Dec 12 Mar 13 Total corporate 4,5% 4,9% 5,4% 6,6% 6,7% 7,2%7,2% 7,4% 7,2%7,3%7,2% 7,5% 7,3% 7,5% 7,4% 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 Mar 12 Jun 12 Sep 12 Dec 12 Mar 13 Total retail

25 24 SELECTED DATA

26 CONSOLIDATED INCOME STATEMENT mln PLN 1Q 12 4Q 12 1Q 13 Q/Q % Y/Y % Net interest income ,0% -4,9% Net fee and commission ,1% 0,3% Operating income (3) ,4% -2,9% Operating costs ,0% -3,9% OPERATING PROFIT (3) ,4% -1,9% Provisions ,7% 21,9% PROFIT BEFORE INCOME TAX ,6% -5,5% Income tax ,2% -2,0% GROUP NET INCOME (1) ,4% -6,3% Cost/Income Ratio (%) (4) 47,5% 44,0% 47,0% 3,0-0,5 Cost of Risk incl. UCB (%) 0,58% 0,80% 0,71% - 0,1 0,1 ROE (%) 13,0% 13,0% 11,2% - 1,8-1,8 ROE normalised (%) (2) 18,9% 19,6% 17,3% - 2,3-1,6 CAR (%) 18,9% 19,0% 19,9% 0,9 1,0 NIM (%) 3,6% 3,7% 3,5% - 0,2-0,1 (1) Net profit attributable to equity holders of the Bank 25 (2) Assuming Core Tier I 10% (3) On the sector comparable basis, including gain on investments and excluding share in profit of equity method consolidated entities (4) Operating income including income from sale of investment portfolio and excluding share in profit of equity method consolidated entities

27 ACTIVITY BY SEGMENTS mln PLN Retail Banking Private Banking Corporate&Investment Banking Assets&Liabilities Management & Others (2) Group IQ' 2012 IQ' 2013 Y/Y % IQ' 2012 IQ' 2013 Y/Y % IQ' 2012 IQ' 2013 Y/Y % IQ' 2012 IQ' 2013 Y/Y % IQ' 2012 IQ' 2013 Y/Y % Net interest income (1) % % % % % Non-interest income % 8 7-9% % % % Operating income % % % % % Operating costs % % % % % OPERATING PROFIT % % % % % Net write-downs/provision % % % % % PROFIT BEFORE INCOME TAX % 6,8 7,0 4% % % ,5% (1) Total net interest income, dividends and other income from equity investments 26 NOTE: P&L in line with Consolidated Income statement presentation form of the Report on Activities

28 NET PROFIT OF THE GROUP - BANK AND ENTITIES cumulative in PLN million Group's share in capital/votes % IQ' 2012 IQ' 2013 Y/Y % Bank Pekao S.A. Banking - Poland 705,8 684,4-3,0% Entities - consolidated under full method % Pekao Leasing Holding S.A. Leasing 80% 26,8 26,9 0% Pekao Leasing Sp. z o.o. Leasing 36% 9,6 8,1-16% PJSC UniCredit Bank Banking - Ukraine 100% 9,3 7,4-20% Centralny Dom Maklerski Pekao S.A. Brokerage 100% 8,0 8,1 1% Pekao Bank Hipoteczny S.A. Mortgage Bank 100% 2,6 1,2-54% Pekao Pioneer PTE S.A. Pension Fund 65% 2,5 3,2 28% Pekao Faktoring Sp. z o.o. Factoring 100% 2,1 1,8-14% Centrum Bankowości Bezpośredniej Sp. z o.o. Call Centre 100% 0,9 0,4-56% Pekao Financial Services Sp. z o.o. Servicing MF/PF 100% 1,2 1,7 42% Jana Kazimierza Development Sp. z o.o. Real estate development 100% 1,9 0,1 --- Centrum Kart S.A. Cards 100% 0,4 0,4 0% Pekao Fundusz Kapitałowy Sp. z o.o. Business consulting 100% 0,2 0,2 0% Pekao Property S.A. Real estate development 100% -0,2-0,1 --- FPB "MEDIA" Sp. z o.o. Real estate development 100% 0,2 0,1 --- Pekao Telecentrum Sp. z o. o. Services 100% 0,1 0,1 0% Metropolis Sp. z o.o. Real estate development 100% 0,0-0,1 --- Entities - valued under the equity method % Pioneer Pekao Investment Management S.A. Mutual Funds 49% 12,3 12,1-2% Krajowa Izba Rozliczeniowa S.A. Clearing Services 34% 1,2 2,7 125% Dom Inwestycyjny Xelion Sp. z o.o. Financial Advisory 50% 0,0 0,1 ###### Exclusions and consolidation adjustments -74,5-93,3 25% Group Net Profit* 710,6 665,5-6,3% (*) Group net profit attributable to equity holders of the Bank 27 NOTE: Entities in liquidation or sold not presented

29 PJSC UNICREDIT BANK IN UKRAINE GENERAL PICTURE mln PLN 1Q 12 4Q 12 1Q 13 Q/Q % Y/Y % Operating income % -20% Net profit % -21% Gross loans % -10% Retail % -23% Corporate % -6% Gross deposits % 8% Retail % 34% Corporate % -7% 28

30 CONSOLIDATED BALANCE SHEET mln PLN Mar 12 Dec 12 Mar 13 Q/Q % Y/Y % Cash and amounts due from Central Bank % 3% Loans and advances to banks % 4% Loans and advances to customers* % 2% Investment securities % -2% Assets held for sale % -13% Intangible assets % -5% Tangible fixed assets % -5% TOTAL ASSETS ,9% 0,5% Amounts due to the Central Bank #DZIEL/0! -100% Amounts due to other banks % -11% Financial liabilities held for trading % 374% Amounts due to customers % -2% Debt securities in issue % 29% Amounts related with assets held for sale % 4% Total liabilities ,7% -0,9% Total Shareholders' equity ,4% 8,4% 29 NOTE: Main positions of consolidated balance sheeet (*) Including loans and advances from customers and receivables from finance leases

31 CUSTOMERS FINANCING mln PLN Mar 12 Dec 12 Mar 13 Q/Q % Y/Y % Loans* ,2% 0,6% retail % 10% corporate % -6% Non quoted securities % 7% Reverse repo transactions % 22% Other % 15% Nominal value adjustment % -1763% Impairment losses % 7% Net loans and advances % 2% Securities issues by non monetary entities** % 32% TOTAL CUSTOMERS FINANCING*** % 2% (*) Including debt securities eligible for rediscounting at Central Bank, net investments in financial leases to customers 30 (**) Securities issued by non monetary entities including local governments (***) Total customers financing includes Loans and advances at nominal value and Securities issued by non monetary entities

32 SELECTED DATA Bank Mar 12 Dec 12 Mar 13 Q/Q % Y/Y % Outlets ,1% 0,2% ATM's ,0% 0,4% Employees ,5% -2,7% No of PLN current accounts (ths)* ,4% 9,9% No of mortgage loan accounts (ths)** ,6% 10,0% No of clients holding a consumer loan accounts (ths)*** Number of individuals with an access to electronic banking Pekao24 (ths) ,2% -1,9% ,5% 11,4% Number of individuals with an access to mobile banking (ths) ,1% 118,1% Number of business clients (SME) with an access to electronic banking PekaoFirma24 (ths) ,4% 10,4% Group Mar 12 Dec 12 Mar 13 Q/Q % Y/Y % Employees ,6% -2,7% (*) Number of accounts including pre-paid card accounts 31 (**) Retail clients accounts (***) Pożyczka Ekspresowa (Express Loan)

33 LOANS EXPOSURE - SECTORS SECTOR DESCRIPTION* Services 16,5% 16,9% 14,4% Public administration 9,6% 13,4% 13,0% Real estate 12,6% 12,4% 13,4% Energy 11,8% 10,3% 13,8% Construction and timber industry 9,1% 8,4% 7,2% Manufacture of basic metals and fabricated metal products 6,1% 6,1% 4,8% Financial intermediation 6,2% 5,7% 6,7% Manufacture of chemical and pharmaceutical products 6,0% 5,4% 5,9% Transport 4,0% 4,1% 5,0% Manufacture of food products and beverages 3,9% 3,4% 3,6% Manufacture of pulp, paper and paper products, publishing and printing 2,6% 2,9% 2,5% Manufacture of vehicles 2,8% 2,8% 2,4% Telecommunication and IT 3,1% 2,8% 2,6% Other sectors 5,7% 5,4% 4,5% Total 100% 100% 100% Note: Based on the annual Group data including current exposure and commitment 32

34 MUTUAL FUNDS MUTUAL FUNDS VOLUMES (PLN mil.) MUTUAL FUNDS - ASSETS STRUCTURE (PPIM SA) +11.9% +5.4% % 26% 57% PPIM SA Mar 12 Dec 12 Mar 13 Third party funds distributed by the Group Money market & bonds Equity Balanced MARKET SHARE (%) 20,8% 20,9% 20,9% Increase of mutual funds by 11.9% y/y Change of mutual funds structure towards money market and bonds funds Mar 12 Dec 12 Mar 13 Note: Market share funds distributed by Pekao Group, compared with the market of retail investment funds available for individuals 33

35 KEY LENDING PRODUCTS STOCK PLN MORTGAGE LOANS VOLUMES (PLN mil.) CONSUMER LOANS VOLUMES (PLN mil.) +20.8% +2.5% +2.5% % Mar 12 Dec 12 Mar 13 Mar 12 Dec 12 Mar 13 34

36 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 19% 16% 40% 0,4% 0,4% 81% 84% 31% 99% 29% Assets Liabilities Assets Liabilities PLN FX up to 1 year 1-5 years above 5 years 35

37 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 Positive 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 Short-term deposit rating Prime-1 Prime-1 Financial strength C- Outlook Negative Stable/ Negative** A2 A2 (* ) Banking Industry Country Risk Assessment (BICRA) 36 (**) Outlook for Poland "stable" and for Polish banking sector "negative" Notes: (1) Bank Pekao S.A. s Viability rating at a- from Fitch Ratings, Stand-alone one at bbb+ from Standard and Poor s and Financial Strength h at C- from Mood s are the highest ratings assigned by these rating agencies to banks rated in Poland; (2) On 21 February 2013 Fitch Ratings has changed the Outlook on Poland's ratings: Long-Term foreign and local currency Issuer Default Ratings (Issuer Default Rating - IDR) to Positive from Stable

38 INVESTOR RELATIONS TEAM S CONTACT DETAILS Q&A related to the presentation: Dariusz Choryło Executive Director Wioletta Reimer Director of IR Office ph.: dariusz.chorylo@pekao.com.pl ph.: wioletta.reimer@pekao.com.pl Dorota Faszczewska-Ward IR Officer Aneta Maciak IR Officer Iwona Milewska IR Officer Krzysztof Szlichciński IR Officer ph.: dorota.faszczewska-ward@pekao.com.pl ph.: aneta.maciak@pekao.com.pl ph.: iwona.milewska@pekao.com.pl ph.: krzysztof.szlichcinski@pekao.com.pl 37 Visit us at: