Assets

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Changes in the structure of assets

Loans and advances to customers and securities represent items of the largest value under assets. As at the end of 2014, they accounted for 68.6% and 15.0% of the total assets, respectively, while as at the end of 2013, the respective figures were 65.6% and 22.2%.

Cash and due from Central Bank (in PLN million)

 

31.12.2014

31.12.2012

change

Cash and due from Central Bank, including:

9,226.3

4,191.2

120.1%

Cash

3,399.3

2,104.6

61.5%

Current account at Central Bank

5,826.8

2,086.3

179.3%

Other

0.2

0.3

(33.3%)

Customers' Financing

Customer structure of loans and advances (in PLN million)

 

31.12.2014

31.12.2013

Change

Loans and advances at nominal value

120,293.6

108,734.9

10.6%

Loans *

104,108.3

96,727.3

7.6%

Retail

49,264.0

44,475.4

10.8%

Corporate

54,844.3

52,251.9

5.0%

Non- quoted securities

10,399.6

9,428.2

10.3%

Reverse repo transactions

5,785.7

2,579.4

124.3%

Other **

347.7

357.6

(2.8%)

Nominal value adjustment

107.2

48.1

122.9%

Impairment losses

(5,770.4)

(5,203.3)

10.9%

Total net receivables

114,978.1

103,937.3

10.6%

Securities issued by non-monetary entities ***

899.2

815.7

10.2%

Total customers’ financing ****

121,192.8

109,550.6

10.6%

* Including debt securities eligible for rediscounting at Central Bank and net investments in financial leases to customers.
** Including interest and receivables in transit.
*** Securities issued by non-monetary entities being loans equivalents.
**** Total customers’ financing includes loans and advances at nominal value and securities issued by non-monetary entities.

As at the end of December 2014, the volume of total customers' financing amounted to PLN 121,192.8 million, an increase of PLN 11,642.2 million, i.e. 10.6% in comparison to the end of 2013.

As at the end of December 2014, the volume of retail loans amounted to PLN 49,264.0 million, an increase of PLN 4,788.6 million, i.e. 10.8% in comparison to the end of 2013.

In the area of mortgage lending, the Bank continued its policy of offering only PLN mortgage loans. The residual stock of mortgage loans denominated in foreign currencies, almost entirely acquired as a result of the merger of the spun-off part of Bank BPH SA in 2007, represents only 4.3% of total loans of the Bank.

The volume of corporate loans, non-quoted securities, reverse repo transactions and securities issued by non-monetary entities amounted to PLN 71,928.8 million, an increase of PLN 6,853.6 million, i.e. 10.5% in comparison to the end of 2013.

Receivables and impairment losses (in PLN million)

 

31.12.2014

31.12.2013

Change

Gross receivables (*)

120,458.0

108,853.6

10.7%

Not impaired

112,255.8

100,940.4

11.2%

Impaired

8,202.2

7,913.2

3.7%

Impairment losses

(5,770.4)

(5,203.3)

10.9%

Interest

290.5

287.0

1.2%

Total net receivables

114,978.1

103,937.3

10.6%

(*) Including debt securities eligible for rediscounting at Central Bank, net investments in financial leases to customers, non-quoted securities, reverse repo and buy-sell-back transactions.

As at December 31, 2014, the ratio of impaired receivables to total receivables amounted to 6.8% and was better by 0.5 p.p. in comparison to the end of 2013.

Impairment losses as at the end of December 31, 2014 amounted to PLN 5,770.4 million.

Loans and advances to customers by currency(*)

 

31.12.2014

31.12.2013

change

 

PLN million

structure

PLN million

structure

 

Denominated in PLN

99,594.0

82.5%

89,461.3

82.0%

11.3%

Denominated in foreign currencies (**)

21,154.5

17.5%

19,679.3

18.0%

7.5%

Total

120,748.5

100.0%

109,140.6

100.0%

10.6%

Impairment losses

(5,770.4)

x

(5,203.3)

x

10.9%

Total net

114,978.1

x

103,937.3

x

10.6%

(*) Including interest and receivables in transit.
(**) Including indexed loans.

The currency structure of loans and advances to customers is dominated by amounts expressed in the Polish złoty; as at the end of December 2014, their share was 82.5%. The largest portion of foreign currency loans and advances to customers were represented by those denominated in EUR (59.6%), CHF (24.2%) and USD (15.6%).

Loans and advances to customers by contractual maturities(*)

 

31.12.2014

31.12.2013

change

 

PLN million

structure

PLN million

structure

 

Current and up to 1 month

18,848.8

15.6%

14,441.7

13.2%

30.5%

1 to 3 months

3,368.6

2.8%

3,076.5

2.8%

9.5%

3 months to 1 year

11,347.1

9.4%

11,092.7

10.2%

2.3%

1 to 5 years

38,136.7

31.6%

35,103.8

32.2%

8.6%

Over 5 years

48,699.6

40.3%

45,068.3

41.3%

8.1%

Other

347.7

0.3%

357.6

0.3%

(2.8%)

Total

120,748.5

100.0%

109,140.6

100.0%

10.6%

Impairment losses

(5,770.4)

x

(5,203.3)

x

10.9%

Total net

114,978.1

x

103,937.3

x

10.6%

(*) Including interest and receivables in transit.

Loans and advances with maturity over 5 years represents 40.3% of total loans and advances (mainly attributed to mortgage loans and receivables for which the maturity date already passed).

Information on loan concentration is included in the Note 28 and 29 to the Consolidated Financial Statements of Bank Pekao S.A. for the period ended on December 31, 2014.