GETIN Holding Group's financial results for year 2010

Transcription

1 GETIN Holding Group's financial results for year presentation of audited financial results for Investors and Analysts Warsaw, 25 February 2011

2 Continuation of dynamic development of the Group Major improvement of the financial results of the Group in all key segments growth of consolidated net profit by 52.6% (to the company shareholders) Results and efficiency of management of the Group appreciated by the market and experts increased market capitalisation of GETIN Holding by PLN 2.8 billion that is by 44.4% in relation to th and 11th position in the ranking Listed company of the Year (Getin Noble Bank and Getin Holding respectively) Key success pillars: high sales dynamics (growth by 27.8% y/y) further improvement of cost efficiency of operations (decrease of C/I by 2.0 pp) well thought out investment decisions 2

3 Main achievements in Strong position in the financial product and service market No. 1 in the financial advisory market - Open Finance No. 1 in sale of car loans Getin Noble Bank No. 1 in bancassurance Insurance Company Europa No. 2 in sale of mortgage loans Getin Noble Bank No. 2 in healthcare funding MW Trade Successful SPO of Insurance Company Europa combined with sale of shares in the company by Getin Noble Bank Extention of the Group by new companies operating in the financial market: MW Trade healthcare funding Idea Bank (licensed by GMAC Bank Polska) a bank for enterpreneurs PF Leasing non-bank leasing company take-over of control over PDK 1) (until October the shareholding interest was 42.9%) conclusion of a conditional share purchase agreement in Allianz Bank Polska conclusion of a preliminary share purchase agreement in a bank in Russia 1) Until 14 February 2011 Fiolet PDK 3

4 Key new projects in Start of Idea Bank (licensed by GMAC Bank Polska) a specialist bank for enterpreneurs launching of a broad and flexible product offer development of efficient distribution channels (Internet, advisers, intermediaries) Take-over of MW Trade a company focused on healthcare funding growth of the loan portfolio by 188.7% in the second half of 4,5 dynamic growth of net profit (PLN million) 2,9 2,5 growth of market price of MW Trade by 152,0% in relation to the transactional price Start of operations by PF Leasing a non-bank leasing company a broad and mobile distribution network universal, safe and efficient financing of investments use of synergy collaboration with Idea Bank, Tax Care and PDK H1 H2 4

5 Sales in Getin Noble Bank Europa Group Foreign companies (PLN m) according to PAS (PLN m) (PLN m) +18,7% +45,1% +84,8% 9 316, , , , ,4 559,0 The value of sold financial products in the GETIN Holding Group after 12 months exceeded PLN 16 billion (growth by 27.8% y/y) Open Finance supported the sale of financial products for PLN 13.3 billion (growth by 13.2% y/y) 5

6 Sale in the Getin Noble Bank Group Sale (PLN m) +18,7% Credit portfolio (PLN bn) +30,9% , ,6 257, , , ,7 546, , , ,9 leasing retail loans 25,6 33, , ,6 SME loans car loans mortgage loans 1) Deposit balance (PLN bn) +31,2% 37,0 Consolidation on the second position in sale of mortgage loans with annual growth of 35.1% 28,2 Dynamic growth of leasing sales (+112.1% y/y) At the end of the year the loan to deposit ratio amounted to 90.5% 1) ) Pro-forma information on Getin Noble Bank 6

7 Sale in Europa Group Premium written according to IAS (PLN m) Sales according to PAS (PLN m) +45,1% 4 415,3 199, ,4 349,5 499,8 499, , ,9 TU Europa TU na Życie Europa Group's net profit (PLN m) attributable to the shareholders of the parent company +25,0% 150,5 120,4 Over PLN 150 million in net profit, growth by 25.0% growth in premium written according to IAS by 15,6% (non-life insurance company by 43.0%) Growth of sales (according to PAS) in the life and non-life companies in the Group by +45.4% and +43.0% respectively Source: Consolidated financial statements of the Europa Group for 12 months ended on 31 December 7

8 Dynamic development of foreign companies Plus Bank (Ukraine) Sale by foreign companies +84,8% Over 30% share in the market of car loans 1 033,0 129,0 Growth of sale of cash loans earning high fees Lower funding costs than planned Improved loan portfolio quality effect of modifications to credit policy, pre-collection and collection actions 559,0 8,0 119,0 82,0 350,0 174,0 201,0 529,0 car loans SME loans retail loans leasing Sombelbank (Belarus) Carcade (Russia) Dynamic development of operations: assets growth in the Bank by 86.4% loan portfolio growth by 117,1% Efficient and dynamic growth of sales by 74.3% y/y 11 new bank branches were opened Stable sale growth, +51.1% y/y Lower funding costs Dynamic growth of fee income Conclusion of preliminary purchase agreement for shares in a bank in Russia opportunity to extend the offer with car loans 8

9 Key financial information of GETIN Holding PLN m / Stable growth of net interest income Net interest income 1 273,5 977,5 +30,3% Net fee and commission income 556,4 380,8 +46,1% Regular diversification of revenues Other operating income and costs 613,1 629,0-2,5% Best efficiency of operations among all banks listed at WSE improved cost to income ratio by 2.0 pp Increased provisions for non-performing loans - slightly improvement in H2 Result on provision for NIL Overhead costs Net profit (attributable to equity holders of the parent company) ,2-829,4-933,1-799,7 421,1 276,0 +27,2% +16,7% +52,6% C / I 38,2% 40,2% -2,0 p.p. 9

10 Companies' contribution to the Group's results Net profit attributable to company shareholders for (PLN m) 450,1 +45,7% 150,4 +25,1% 45,3-6, , ,1 +44,4% -104,2 +77,2% 421,1 +52,6% Year Change y/y Getin Noble Bank Group TU Europa Group Foreign companies PDK MW Trade Reversible consolidation adj. Holding and consolidation adj. GH Group (profit of the parent company) 87.3% of reversible adjustments is due to transactions between the Europa Group and the Getin Noble Bank Group, others result mainly from transactions between PDK and Getin Noble Bank PLN million of consolidation adjustment is due set-off of the share sale transaction in Insurance Company Europa by Getin Noble Bank PLN million are minority interests PLN million is a result of revaluation of 42.9% shares in PDK held when control in the company was taken over 10

11 Growing profitability of foreign companies Contribution by foreign companies (PLN m) to the net profit attributable to the shareholders of the parent company Net profit (PLN m) 45,3 11,7 21,3-7,1 +14,5% -12,3% 45,3 - Year Change y/y 19, ,8% -4,0 PlusBank Group Sombelbank Carcade GI and consolidation adj. GI Group (profit of the parent company) -41, Improved cost efficiency and regular growth of income-generating base Significant growth of income of foreign companies 11

12 Appendices Appendix 1: Group Structure Appendix 2: Key financial parameters of the Getin Holding Group Appendix 3: Key financial parameters of the Getin Noble Bank Group Appendix 4: Key financial parameters of the Europa Group Appendix 5: Consolidated profit and loss account of the Getin Holding Group Appendix 6: Balance sheet structure 12

13 Appendix 1: Structure of the Group advisory services insurance banking foreign operations healthcare funding non-bank leasing retail banking 1) private banking 1) advisory services investment funds leasing brokerage banking for micro and SMEs 1) Trademarks of Getin Noble Bank S.A. 13

14 Appendix 2: Key financial parameters Getin Holding Group Equity (PLN bn) Balance sheet total (PLN bn) net of minority interests +15,7% +31,7% 4,43 46,9 3,83 35, Net profit (PLN m) for the company shareholders +52,6% C / I (%) -2,0 p.p. 421,1 40,2% 276,0 38,2% 14

15 Appendix 3: Key financial parameters Getin Noble Bank Group Equity (PLN bn) net of minority interests +13,8% 3,29 Balance sheet total (PLN bn) +29,3% 42,8 2,89 33, Net profit (PLN m) for the company shareholders C / I (%) +45,7% -3,6 p.p. 450,1 36,1% 32,5% 308,9 Source: Consolidated financial statements of the Getin Noble Bank Group for 12 months ended on 31 December 15

16 Appendix 4: Key financial parameters Europa Group Net profit (PLN m) to the company shareholders +25,0% Balance sheet total (PLN bn) +45,2% 120,4 150,5 6,87 4, Premium written according to IAS (PLN m) ROE 1) (%) +15,6% -0,3 p.p. 605,4 699,7 38,6% 38,3% 349,4 499,8 255,9 199,9 non life life 1) Calculated as a ratio of net profit for the financial period to equity at the beginning of the financial period Source: Consolidated financial statements of the Europa Group for 12 months ended on 31 December 16

17 Appendix 5: Consolidated profit and loss account Getin Holding Group PLN m / Net interest income 1 273,5 977,5 +30,3% Net fee and commission income 556,4 380,8 +46,1% Other operating income and costs 613,1 629,0-2,5% Result on provision for NIL ,2-829,4 +27,2% Overhead costs -933,1-799,7 +16,7% Operating profit 454,7 358,2 +26,9% Share in net profit (loss) of associates -4,5-0,6 x7,5 Share in net profit (loss) of subsidiaries 35,0 0,0 --- Profit / (loss) before income tax 485,2 357,6 +35,7% Corporate income tax -9,2-21,5-57,2% Net profit /(loss) 476,0 336,1 +41,6% Non-controlling interest -54,9-60,1-8,7% Net profit (attributable to equity holders of the parent company) 421,1 276,0 +52,6% 17

18 Appendix 6: Balance sheet structure Getin Holding Group Assets (PLN m) Liabilities and Equity (PLN m) Investment securities Amounts due from banks Other assets 6,2% 7,8% 14,5% ,4 9,6% 10,5% Other liabilities Total equity Loans and advances to customers 71,5% 79,9% Deposits from customers