The results of Bank Pekao S.A.

Add to my report
Previous chapter | Next chapter

The main items from the Bank's income statement in presentation form are as follows:

(in PLN million)

 

2014

2013

Change

Net interest income

4,334.5

4,310.5

0.6%

Dividend income

153.6

143.8

6.8%

Total net interest income and dividend income

4,488.1

4,454.3

0.8%

Net non-interest income

2,546.6

2,733.0

(6.8%)

Operating income

7,034.7

7,187.3

(2.1%)

Operating costs

(3,223.3)

(3,230.4)

(0.2%)

Operating profit

3,811.4

3,956.9

(3.7%)

Net result on other provisions

(1.4)

13.8

x

Net impairment losses on loans and off-balance sheet commitments

(541.4)

(623.0)

(13.1%)

Net result on investment activities

1.5

88.7

(98.3%)

Profit before tax

3,270.1

3,436.4

(4.8%)

Net profit for the period

2,662.3

2,800.0

(4.9%)

In 2014, the Bank's net profit amounted to PLN 2,662.3 million, decrease of PLN 137.7 million, i.e. 4.9% in comparison to 2013 mainly due to lower trading result and the impact of regulatory constraints.

The Bank's operating profit reported for 2014 was lower by 3.7% in comparison with 2013 due to lower operating income affected mainly by lower net fee and commission income and lower trading result, partially compensated by better operating costs lower by 0.2%.

The main Bank's financial information are as follows:

 

31.12.2014

31.12.2013

Change

Total gross loans in PLN million *

100,330.6

93,186.8

7.7%

Impaired receivables to total receivables in %

6.6%

7.1%

(0.5) p.p.

Total deposits in PLN million *

120,279.7

115,843.7

3.8%

Repo and sell-buy-back transactions in PLN million

5,253.4

3,665.7

43.3%

Structured Certificates of Deposit in PLN million

203.7

334.0

(39.0%)

Certificates of Deposit in PLN million

2,594.7

1,901.9

36.4%

Total assets in PLN million

164,322.8

155,286.6

5.8%

Investment funds distributed through the Bank’s network in PLN million

15,660.9

14,628.6

7.1%

Capital adequacy ratio (Basel III) in %

17.1%

18.3%

(1.2) p.p.

* The nominal value.

The volume of gross loans of the Bank's clients as at the end of December 2014 amounted to PLN 100,330.6 million, an increase of PLN 7,143.8 million, i.e. 7.7% as compared to the end of 2013. At the end of December 2014, the total volume of retail loans amounted to PLN 48,377.8 million and volume of corporate loans amounted to PLN 51,952.8 million.

The total amounts due to the Bank's customers (including customer deposits, repo and sell-buy-back transactions, Structured Certificates of Deposit, Certificates of Deposit) amounted to PLN 128,331.5 million, an increase of PLN 6,586.2 million, i.e. 5.4% as compared to the end of 2013, despite a decrease by PLN 6,122.5 million of liabilities to Open Pensions Funds due to pension funds reform introduced in the first quarter of 2014.

The value of net assets of investment funds managed by Pioneer Pekao TFI S.A. and distributed through the Bank's network increased by PLN 1,032.3 million, i.e. 7.1% as compared to the end of 2013.