2Q 2012 consolidated financial results. August 2012

Transcription

1 BANK HANDLOWY W WARSZAWIE S.A. 2Q 2012 consolidated financial results August 2012

2 Another quarter of solid net profit NET PROFIT ROE 14.8% 1.1 p.p. QoQ 1.9 p.p. YoY /PLN MM/ % -5% Gains on sale of AFS securities ROA 2.2% 0.2 pp p.p. QoQ 0.5 pp p.p. YoY Cost/Income 54% 1.9 p.p. pp QoQ 9.7 p.p. pp YoY Loans/Deposits 77% 9.0 p.p. QoQ 8.0 p.p. YoY CAR 18.3% p.p. QoQ p.p. YoY 2Q Q Q

3 Net interest income Net interest income (PLN MM) Net interest margin Bank vs. sector +6% -7% % 4.4% 4.4% -14% Corporate Banking Citi Handlowy 3.7% 3.7% 47% 3.2% Sector 2.8% 2.8% 2.8% 0% Retail Banking 53% 3 2Q Q Q % QoQ 2% 2% QoQ Debt securities Customer activity 2Q Q Q Q Q 2012 Net interest margin on total assets Net interest margin on interest-bearing assets

4 Corporate, commercial & retail loans /PLN MM/ 6,979 7, % Sector: +12% 8,392 Corporate & commercial loans +5% Sector: +2% 8,814 34% Public sector and others (+97% QoQ; +24% YoY) SMEs & MMEs (+5% QoQ; +18% YoY) Double-digit annual growth of total loans volume (24% YoY vs.12% YoY in sector) 39% 21% Global Clients (+4% QoQ;+8%YoY) Corporate Clients (-5% QoQ; +71% YoY) An increase of loans volume in 2Q 2012 after a decline in 1Q 2012 /PLN MM/ 1Q Q Q Q % Sector: +7% 5,133 5,118 5,090 +2% 5,176 Sector: +2% Retail loans 15% Mortgage loans (+14% QoQ; +76% YoY) Downward trend in retail loans stopped growth by 2% QoQ 42% 42% Cash loans (-1% QoQ; -7% YoY) Credit cards (+0.1% QoQ; -5% YoY) Maintained double-digitdigit growth of mortgage loans (+14% QoQ) 1Q Q Q Q

5 Deposits focus on operating accounts /PLN MM/ 11,470 6,046 6, % Sector:+2% Corporate deposits 13,828 12,059-12% 12, ,544 Sector: -0.8% -23% 5,819 5,425 5,731 6,285 0% 6,301 Term deposits (-8% r./r.) Demand deposits (+10% YoY) Decline of term deposits with demand deposits remaining stable in 2Q 2012 Total deposits volume nearly unchanged in annual terms /PLN MM/ 1Q Q Q Q 2012 Retail deposits +7% 5,855 5,699 3,929 3,667 Sector: +13% 6,081 6,113 +1% Sector: +1.5% 3,785-2% 3,721 1,926 2,033 2,296 +4% 2,392 Term deposits (+1% YoY) Y) Demand deposits (+18% YoY) Stable growth of retail deposits (+1% QoQ, +7% YoY) Another quarter of demand deposits increase the effect of consistent focus on operating accounts 5 1Q Q Q Q 2012

6 Net fee and commission income maintained at a stable level /PLN MM/ % -1% Corporate Banking -2% QoQ and -19% YoY Brokerage -65% YoY -36% QoQ 10% 35% Custody +4% YoY +13% QoQ -2% Corporate Banking Other -30% YoY +62% QoQ 6% 49% Payment orders & cash management -5% YoY -4% QoQ 43% Retail Banking 0% QoQ and -2% YoY 0% Retail Banking 57% Credit cards +4% YoY +10% QoQ Investment 2Q Q Q 2012 & insurance 37% -9% YoY -10% QoQ 54% 2% 7% Cash loans -30% YoY -9% QoQ Other +12% YoY -2% QoQQ 6

7 Treasury result Treasury result (PLN MM) +164% % Result on customer operations ,1 2Q Q Q 2012 Result on proprietary management Q Q Q 2012 Trading and result on customer activity Gains on AFS securities sale 2Q Q Q 2012 Note: The scales on the graphs are not comparable For the fourth year in a row the Bank placed 1 st in the corporate FX trading category in a ranking published by the prestigious Euromoney magazine 7

8 General administrative expenses and depreciation /PLN MM/ % Restructuring expenses PLN438MM % % Corporate Banking 47% Corporate Banking +1% QoQ and +11% YoY Other expenses Depreciation Transaction costs Premises Technology 21% 5% 6% 2% 10% 56% Staff expenses Retail Banking -22% QoQ and -10% YoY Retail Banking 53% 2Q Q Q 2012 Other expenses 5% 11% Depreciation Marketing 5% Transaction costs 9% 11% Premises 42% Staff expenses 18% Technology Cost/Income 2Q Q Q 2012 Change QoQ Change YoY Corporate Banking 52% 37% 45% Retail Banking 76% 86% 67% Bank 64% 56% 54% 8

9 Consistent credit risk policy Net impairment losses (PLN MM) Non-performing loans ratio (NPL) (45) 14.5% 13.5% 13.5% (30) (15.4) 0.5% (16.5) (20.0) 11.3% (14.8) 0.6% 9.2% 8.7% 0.4% 9.2% (15) (28.9) (28.1) (3.0) (13.0) 6.8% (13.2) 61% 6.1% (10.3) (7.0) 0 (1.5) Q Q Q Q Q Q Q Q Q Q 2012 Corporate Banking Retail Banking Cost of risk (%) NPL ratio went down to 8.7% due to improved quality of corporate loans portfolio Provision coverage ratio 90% 89% 91% 78% 80% 78% 64% 61% 61% 2 2 Provision coverage ratio at a high level of 80% 3 Cost of risk maintained at a low level 0.6% in 2Q 2012 vs. 0.4% in 1Q 2012 and 0.5% in 2Q Q Q Q Q Q 2012 Bank Corporate Banking Retail Banking 9

10 Liquidity and capital adequacy stable and safe position Capital adequacy ratio vs. equity level l Loans to deposits ratio: Bank vs. banking sector 18.0% 16.5% 65% 16.4% 18.0% 18.3% 115% 117% 116% 115% 115% 69% 72% 63% 68% 77% Q Q Q Q Q Q Q Q Q Q 2012 Equity (PLN B) Capital Adequacy ratio Citi Handlowy Sector Source: Data for sector based on the Polish Central Bank data. 10

11 Citi Handlowy share price in An increase in the Bank s share price of 30% (WIG Banks increase of 11%, WIG20 increase of 5%) 85 Management Board resolution on the proposed distribution of net profit for 2011 Announcement of branch network optimalisation plan Announcement of an extension of employment restructuring process e price (PLN) Shar Publication of preliminary 4Q 2011 financial results Dividend declaration day Dividend day For the fifth time ranked in The last share price listed on ; Citi Handlowy: PLN Citi Handlowy WIG-Banks WIG 20

12 Appendix

13 Retail banking operational data (in thousands) 2Q Q Q 2012 Change YoY % change YoY Current accounts including: % 6.2% Operating accounts % Saving accounts % Credit cards, including: (52) (5.9%) Co-brand cards (12) (2.6%) Debit cards including: (6) (1.4%) PayPass cards % 13

14 Retail banking volumes (PLN million) 1Q Q 2012 Change QoQ % change QoQ Deposits 6,081 6, % Demand deposits 2,296 2, % Other deposits, including: 3,785 3,721 (64) (1.7%) Saving accounts 2,535 2,507 (28) (1.1%) Loans 5,090 5, % 1.7% Credit cards 2,168 2, % Cash loans 2,177 2,165 (12) (0.5%) Mortgage loans % 4% 14

15 Net profit 2Q 2012 vs. 2Q 2011 /PLN MM/ +52% Q 2011 Interests Fees Treasury Other Revenue Expenses Net impairment losses Tax 2Q 2012 Net interest income 6% YoY Net fee and commission income Treasury result Expenses & depreciation Net impairment losses 10% YoY 164% YoY 1% YoY 30% YoY 15