Liabilities

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Changes in the structure of liabilities

Amounts due to customers were the main item under the Group's liabilities and equity. As at the end of 2014, amounts due to customers and debt securities issued totaled PLN 129,466.0 million, and their share in the total assets was 77.2%, compared with 77.5% as at the end of 2013. The share of total shareholder's equity in the total assets was 14.3% as at the end of 2014, compared with 14.8% as at the end of 2013.

External sources of financing (in PLN million)

 

31.12.2014

31.12.2013

Change

Amounts due to Central Bank

1.0

1.0

0.0%

Amounts due to other banks

5,344.7

6,417.7

(16.7%)

Amounts due to customers

125,609.0

119,796.7

4.9%

Debt securities issued

3,857.0

3,063.7

25.9%

Total external sources of financing

134,811.7

129,279.1

4.3%

The deposit base is widely diversified and the deposits sourced from retail and corporate customers. In addition, the Group uses also funds borrowed on the interbank market. The Group is not dependent on any single customer nor group of customers.

As at the end of 2014, the geographical structure of deposits acquired through the Bank's domestic branches was as follows:

 

REGION

% of total deposits

Warszawski

44.5%

Mazowiecki

11.2%

Małopolski

10.0%

Południowo-Wschodni

7.2%

Centralny

6.8%

Wielkopolski

4.5%

Śląski

4.1%

Pomorski

4.0%

Dolnośląski

3.9%

Zachodni

3.8%

Total

100.0%

Total customer savings (in PLN million)

 

31.12.2014

31.12.2013

Change

Amounts due to corporate

64,490.7

64,965.6

(0.7%)

Non-financial entities

49,142.8

45,411.0

8.2%

Non-banking financial entities

9,138.8

13,734.0

(33.5%)

Budget entities

6,209.1

5,820.6

6.7%

Retail deposits

55,275.7

50,777.2

8.9%

Repo and sell-buy-back transactions

4,976.3

3,665.7

35.8%

Other *

866.3

388.2

123.2%

Amounts due to customers

125,609.0

119,796.7

4.9%

Debt securities issued, of which

3,857.0

3,063.7

25.9%

Structured Certificates of Deposit (SCD)

203.7

334.0

(39.0%)

Certificates of Deposit

2,594.7

1,901.9

36.4%

Pekao Bank Hipoteczny S.A. covered bonds

1,029.3

816.2

26.1%

Interest

29.3

11.6

152.6%

Amounts due to customers and debt securities issued, total

129,466.0

122,860.4

5.4%

Investment funds of Pioneer Pekao TFI

17,115.1

16,411.5

4.3%

Bond and money market funds

11,162.0

9,416.8

18.5%

Balanced funds

3,163.9

3,688.0

(14.2%)

Equity funds

2,789.2

3,306.7

(15.7%)

including distributed through the Group’s network

16,669.7

15,609.6

6.8%

* Other item includes interest and funds in transit.

As at the end of December 2014, the total amounts due to the Group's customers and debt securities issued amounted to PLN 129,466.0 million, an increase of PLN 6,605.6 million, i.e. 5.4% in comparison to the end of 2013, despite a decrease by PLN 6,122.5 million of liabilities to Open Pensions Funds (OFE) due to pension funds reform introduced in the first quarter of 2014. Excluding OFE, total amounts due to the Group's customers and debt securities issued increased by PLN 12,728.1 million, i.e. 11.3% in comparison to the end of 2013.

The total volume of retail customers deposits, Structured Certificates of Deposit and other amounted to PLN 55,934.6 million at the end of December 2014, an increase of PLN 4,518.3 million, i.e. 8.8% in comparison to the end of 2013. The value of net assets of investment funds managed by Pioneer Pekao TFI S.A. amounted to PLN 17,115.1 million at the end of December 2014, an increase of PLN 703.6 million, i.e. 4.3% in comparison to the end of 2013.

The total volume of corporate customers deposits, repo and sell-buy-back transactions, Certificates of Deposit, Pekao Bank Hipoteczny S.A. covered bonds, interest and other amounted to PLN 73,531.4 million at the end of December 2014, an increase of PLN 2,087.3 million, i.e. 2.9% as compared to the end of 2013, excluding OFE an increase of PLN 8,209.8 million in comparison to the end of 2013.

 

Amounts due to customers by currency(*)

 

31.12.2014

 

31.12.2013

 

change

 

PLN million

structure

PLN million

structure

 

Denominated in PLN

106,221.9

84.6%

101,473.0

84.7%

4.7%

Denominated in foreign currencies

19,387.1

15.4%

18,323.7

15.3%

5.8%

Total

125,609.0

100.0%

119,796.7

100.0%

4.9%

* Including interest and amounts due in transit

The bulk of the amounts due to customers are denominated in the Polish currency and its share as at the end of December 2014 amounted to 84.6%. The majority of amounts due to customers denominated in foreign currencies were in EUR (61.3%) and USD (34.1%).

Amounts due to customers by contractual maturities

 

31.12.2014

31.12.2013

change

 

PLN million

structure

PLN million

structure

 

Current accounts and overnight deposits

59,847.4

48.0%

55,417.3

46.4%

8.0%

Term deposits

64,895.3

52.0%

63,991.2

53.6%

1.4%

Total deposits

124,742.7

100.0%

119,408.5

100.0%

4.5%

Interest accrued

194.6

x

209.1

x

(6.9%)

Funds in transit

671.7

x

179.1

x

275.0%

Total

125,609.0

x

119,796.7

x

4.9%