Financial results

H1 2019 results

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Q1 2019 results

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2018 integrated report

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Comparable data

  • Yearly

  • Quarterly

Yearly

mln PLN

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

Total income1

2 548,6

2 747,2

2 990,0

3 245,1

3 328,5

3 544,8

3 778,1

4 324,5

4 769,1

5 232,4

Total expenses

1 505,9

1 609,5

1 700,0

1 866,2

1 868,4

1 929,7

2 155,7

2 099,2

2 135,8

2 326,8

Net income

595,1

753,1

880,1

832,3

961,5

1 040,7

1 127,0

1 253,0

1 403,1

1 525,9

Loans2

27 330,9

31 240,5

38 457,1

45 205,6

48 552,1

57 130,9

68 681,0

78 069,5

87 524,2

103 125,8

Deposits

47 584,7

47 400,1

52 932,1

57 898,4

67 547,9

75 658,9

87 818,5

95 825,4

104 503,3

117 682,5

Loans / Deposits

57,4%

65,9%

72,7%

78,1%

71,9%

75,5%

78,2%

81,5%

83,8%

87,6%

Cost / Income

59,1%

58,6%

56,9%

57,5%

56,1%

54,4%

57,1%

48,5%

44,8%

44,5%

ROE

13,1%

14,2%

14,7%

11,7%

11,6%

11,1%

11,0%

11,7%

12,6%

12,5%

ROA

0,9%

1,2%

1,3%

1,1%

1,2%

1,1%

1,1%

1,1%

1,2%

1,2%

Total capital ratio

12,0%

13,2%

11,9%

14,6%

17,3%

14,2%

13,7%

14,7%

16,7%

15,6%

Tier 1 ratio

12,0%

13,2%

11,9%

14,6%

17,3%

14,2%

13,7%

13,7%

15,8%

14,8%

Book value per share (PLN)

37,5

43,4

49,3

62,5

66,3

80,4

82,1

80,5

90,7

102,5

Earnings per share (PLN)

4,57

5,79

6,76

6,40

7,39

8,00

8,66

9,63

10,78

11,73

1 Including share in subsidiaries profits
2 Net loans and other receivables from customers, excluding Eurobond portfolio

Quarterly

mln PLN

1Q 2018

2Q 2018

3Q 2018

4Q 2018

1Q 2019

2Q 2019

 

Total income1

1 256,9

1 310,2

1 305,9

1 359,4

1 386,3

1 451,2

Total expenses

628,3

555,0

577,2

566,3

721,1

581,1

Net income

322,2

372,7

378,8

452,2

325,4

470,3

Loans2

90 290,5

94 724,3

99 223,8

103 125,8

107 387,4

110 509,0

Deposits

104 650,5

109 173,8

110 205,0

117 682,5

120 414,0

122 992,0

Loans / Deposits

86,3%

86,8%

90,0%

87,6%

89,2%

89,9%

Cost / Income

50,0%

42,4%

44,2%

41,7%

52,0%

40,0%

ROE

10,8%

12,5%

12,6%

14,2%

9,7%

13,6%

ROA

1,02%

1,16%

1,14%

1,31%

0,91%

1,27%

Total capital ratio

16,1%

15,2%

15,2%

15,6% 15,82% 15,05%

Tier 1 ratio

15,12%

14,35%

14,41%

14,75% 14,49% 13,80%

Book value per share (PLN)

92,7

91,4

93,5

102,5 103,2 109,4

Earnings per share (PLN)

9,91

11,46

11,65

13,90 10,00 14,46

1 Including share in subsidiaries profits
2 Net loans and other receivables from customers, excluding Eurobond portfolio

Share price performance

​Applicable WSE indices

WIG, WIG30, mWIG40, WIG-Banki, RESPECT

LEI

259400YLRTOBISHBVX41

ISIN

PLBSK0000017

FISN

INGBSK/BRSH SER-B PLN1.0

WSE ticker

ING

Bloomberg / Reuters

ING PW / INGP.WA

Dividends

  • Dividend policy

  • Dividend story

  • More info

Dividend policy

Dividend policy


On 1 March 2019 the Supervisory Board has approved the ING Bank Śląski S.A. Dividend Policy as recommended by the Bank Management Board.

The Dividend Policy endorses:

  • a long-term stable process of dividend payout in adherence to the rules of prudent management and any and all regulatory requirements which the Bank shall comply with;
  • the option to pay dividend from the capital surplus over the minimum capital adequacy ratios and over the minimum capital ratios set for the Bank by the PFSA for dividend payout purposes:
    • minimum common equity Tier 1 (CET1) at the level of 4,5% + combined buffer requirement1 + 1,5%,
    • minimum Tier 1 (T1) at the level of 6% + combined buffer requirement1 + 1,5%,
    • minimum total capital ratio (TCR) at the level of 8% + combined buffer requirement1 + 1,5%.

1 Combined buffer requirement binding in the year of dividend payout from the profit of the previous year.

When determining the recommended dividend payout amount to the General Meeting, the Bank Management Board review in particular the following terms and conditions:

  • the current financial standing of the Bank and the Bank Group, including limitations in the case of sustaining financial loss or low profitability (low ROA/ROE),
  • Bank's and Bank Group’s assumptions of the management strategy and risk management strategy,
  • Polish Financial Supervision Authority’s stance on the banks’ dividend policy, including – within capital criteria – the sensitivity of the Bank to unfavourable macroeconomic scenario (ST parameter),
  • limitations under Article 56 of the Act on macroprudential supervision over the financial system and crisis management in the financial system of 05 August 2015,
  • the need to adjust profits of the present period or unapproved annual profits recognised as own funds with foreseeable dividends, according to art 26 of the Regulation EU 575/2013.

Details: Dividend policy of ING Bank Śląski S.A. (15 September 2016).

Update of the ING Bank Śląski S.A. Dividend policy (9 March 2018).

Update of the ING Bank Śląski S.A. Dividend policy (1 March 2019).

Dividend story

Dividend story

    Dividend yield (%)

    Dividend per share (PLN)

Note: Data prior the share split in November 2011 (1:10) adjusted accordingly.
Dividend yield as of dividend day.

More info

Year
 
Net result standalone (PLN m) Net result consolidated (PLN m) Dividend (PLN m) Dividend payout ratio standalone (%) Dividend payout ratio consolidated (%) Dividend per share (PLN) Dividend date Share price at dividend date (PLN) Dividend yield (%) Dividend payout date
2018 1 525,9 1 525,9 455,4 29,8% 29,8% 3,50 18.4.2019 194,60 1,8% 06.5.2019
2017 1 348,5 1 403,1 416,3 30,9% 29,7% 3,20 25.4.2018 192,80 1,7% 10.5.2018
2016 1 208,7 1 253,0 - - - - - - - -
2015 1 140,0 1 127,0 559,4 49,1% 49,6% 4,30 20.4.2016 121,80 3,5% 5.5.2016
2014 1 067,9 1 040,7 520,4 48,7% 50,0% 4,00 20.4.2015 143,95 2,8% 5.5.2015
2013 920,1 961,5 572,4 62,2% 59,5% 4,40 14.5.2014 129,60 3,4% 3.6.2014
2012 757,8 832,3 - - - - - - - -
2011 903,6 880,1 - - - - - - - -
2010 702,3 753,1 195,2 27,8% 25,9% 1,50 22.6.2011 85,50 1,8% 1.7.2011
2009 582,2 595,1 - - - - - - - -
2008 455,6 445,4 - - - - - - - -
2007 610,2 630,7 152,2 24,9% 24,1% 1,17 14.5.2008 53,10 2,2% 2.6.2008
2006 540,6 591,4 363,0 67,1% 61,4% 2,79 24.5.2007 87,00 3,2% 11.6.2007
2005 506,8 549,5 357,8 70,6% 65,1% 2,75 18.5.2006 64,50 4,3% 5.6.2006
2004 366,3 399,0 266,7 72,8% 66,8% 2,05 24.6.2005 43,70 4,7% 11.7.2005
2003 28,7 30,6 10,4 36,3% 34,0% 0,08 16.6.2004 37,40 0,2% 1.7.2004
2002 154,0 141,1 31,2 20,3% 22,1% 0,24 16.6.2003 30,95 0,8% 3.7.2003
2001 97,3 100,3 19,5 20,1% 19,5% 0,15 14.5.2002 38,50 0,4% 3.6.2002
2000 138,3 150,9 27,8 20,1% 18,4% 0,30 10.7.2001 26,95 1,1% 3.9.2001

Note: Data prior the share split in November 2011 (1:10) adjusted accordingly

Shareholder structure

ING Bank Śląski share capital amounts to PLN 130 100 000 and is divided into 92 600 000 A-series ordinary shares and 37 500 000 B-series ordinary shares of PLN 1 face value each.

  75,00%
      ING Bank N. V.
      97 575 000 shares

  8,30%
      Aviva Otwarty Fundusz
      Emerytalny Aviva
      Santander*

      10 792 367  shares

  16,70%
      Other stock exchange
      investors
      21 732 633 shares

*As per semi-annually reported assets structure of Aviva Otwarty Fundusz Emerytalny Aviva Santander, as at 28 June 2019.

ING Bank N.V. is a member of ING Group – a global group of financial institutions offering retail and corporate banking services. ING Group companies pursue business in over 40 countries in Europe, North and South Americas, in the Near East as well as in Asia and Australia. ING Group pursues business in four areas: Market Leaders, Challengers, Growth Markets – including Poland as a well as through a global corporate banking network dedicated to strategic clients – Wholesale Banking.

A Dutch financial institution, ING Groep N.V., is the ING Group’s parent company. It was incorporated in 1991 through the merger of a Dutch insurance company, Nationale-Nederlanden, with a Dutch bank, NMB Postbank Groep.
More information on ING Group is available at www.ing.com.

Analysts & Consensus

  • Recommendations

  • Consensus

Recommendations

The presented market consensus has been made on the basis of the reports of independent stock analysts monitoring the financial and commercial results of ING Bank Śląski S.A. and issuing recommendations for bank shares.

None of the estimates or recommendations presented below shall be seen as a forecast or opinion of the ING Bank Śląski S.A. Management Board. Management Board of the Bank did not publish any forecasts of the Company's results.

Recommendations
 

4

3

4

Buy / Accumulate Hold / Neutral Reduce / Sell


202,37 PLN

Average target price

Last update:  2.08.2019

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Consensus

The presented market consensus has been made on the basis of the reports of independent stock analysts monitoring the financial and commercial results of ING Bank Śląski S.A. and issuing recommendations for bank shares.

None of the estimates or recommendations presented below shall be seen as a forecast or opinion of the ING Bank Śląski S.A. Management Board. Management Board of the Bank did not publish any forecasts of the Company's results.

Consensus

(Average based on analysts forecasts)
 

mln PLN 2019 2020 2021
Net profit 1 700 1 885 2 046
number of previews 11 11 10
Last update:  2.08.2019

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Rating

  • Fitch Ratings

  • Moody's Investors Service

Fitch Ratings

Fitch Ratings

Long-term Issuer Default Rating (IDR): A
Long-term IDR Outlook: Stable
Short-term Issuer Default Rating: F1
Viability Rating: bbb+
Support Rating: 1
National Long-term Rating: AAA (pol)
National Long-term Rating Outlook: Stable
National Short-term Rating: F1+ (pol)

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Moody's Investors Service

Moody's Investors Service

Long-term Deposits Rating: A2
Short-term Deposits Rating: P-1
Baseline Credit Assessment (BCA): baa2
Adjusted Baseline Credit Assessment (Adjusted BCA): baa1
Outlook: Stable
Counterparty Risk Assessment (CR Assessment) long-term/short-term: A1 (cr) / P-1 (cr)
Counterparty Risk Rating (CR Rating) long-term/short-term: A1 / P-1

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Contact us

Investor Relations Bureau

e-mail: investor@ingbank.pl

tel.: +48 (22) 820 44 16
fax: +48 (32) 602 09 97

Address:
ul. Puławska 2, 02-566 Warsaw, Poland

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