Slide 1: Results of the BRE Bank Group Q1 2008
Results of the BRE Bank Group Q1 2008 BRE Bank SA Management Board Presentation for Investors and Analysts 6 May 2008 1
Slide 2: Agenda
Agenda BRE Bank Group Results Q1 2008 BRE Bank Group: A Quarter in Brief Key Achievements and Financial Results of the Business Lines Analysis of the Consolidated Financial Results Appendix Detailed Results of the Business Lines, Q1 2008 Additional Information: Selected Financial Data Macroeconomics
Slide 3: Agenda
Agenda BRE Bank Group Results Q1 2008 BRE Bank Group: A Quarter in Brief Key Achievements and Financial Results of the Business Lines Analysis of the Consolidated Financial Results Appendix 3
Slide 4: Summary of Q1 2008 in the BRE Bank Group
Summary of Q1 2008 in the BRE Bank Group Major Events and Achievements 1 High profitability of the core business 2 Continued dynamic growth of business 3 Sustained safety of the capital base on NCA implementation 4 Update of the BRE Bank Group strategy in the autumn 2008 4
Slide 5: High Profitability of Business
Summary of Q1 2008 in the BRE Bank Group High Profitability of Business Continued and discontinued operations Profit before tax PLN 427.6 M ROE before tax 52.0% Cost/Income (C/I) 43.6% Capital adequacy ratio (CAR) 9.5% Unless indicated otherwise, the presented financial data refer to the BRE Bank Gr
Slide 6: Focus on Growing the Profitability of the Regular Business
Summary of Q1 2008 in the BRE Bank Group Focus on Growing the Profitability of the Regular Business Regular operations* Profit before tax PLN 289.9 M ROE before tax 35.3% Cost/Income (C/I) 52.7% Recurrent net profit * i.e., continued and discontinued operations net of the sale of Vectra SA (PLN M) 2
Slide 7: Dynamic Growth of Loans to Clients
Summary of Q1 2008 in the BRE Bank Group Dynamic Growth of Loans to Clients Growth of Gross Loans Total lending up by (PLN B) +10.3% +10.3% 10.3% QoQ 40 +9.6% QoQ +11.7% QoQ -7.0% QoQ 35 2.3 -0.1 1.3 30 Loans to retail clients 25 up by 9.6% QoQ 20 34.4 37.9 and 53.6% YoY 15 10 Loans to corporate
Slide 8: Seasonal Lower Growth in Deposits
Summary of Q1 2008 in the BRE Bank Group Seasonal Lower Growth in Deposits Growth Rate of Deposits +3.7% +3.7% (PLN B) +17.8% -3.2% -68.8% Total deposits up QoQ QoQ QoQ 35 -0.6 -0.5 by 3.7% QoQ 30 2.3 25 Continued growth of deposits 20 of retail clients 32.4 33.6 15 (up by 17.8% QoQ 10 and up by 4
Slide 9: Liquidity
Summary of Q1 2008 in the BRE Bank Group Liquidity The ratio of loans to deposits at 110.8%... … but analysis of the loans portfolio and its funding reveals that the actual ratio of loans to deposits is 77.4% Ratio of Loans to Deposits in the BRE Bank Group Structure of Financing Loans of the BRE Ba
Slide 10: Results of the Business Lines
Summary of Q1 2008 in the BRE Bank Group Results of the Business Lines Profitability of the Business Lines Corporations & Financial Markets Retail Banking (+PB) Profit before Tax by Business Line Q1 2008 v. Q1 2007 (PLN M) +54.4% +310.9% 173.9 +9.8% 147.2 Repayment of non- +38.9% 14.8 performing loa
Slide 11: Results of the Strategic Subsidiaries
Summary of Q1 2008 in the BRE Bank Group Results of the Strategic Subsidiaries Profit before Tax of Consolidated Subsidiaries Profit before tax 34.1* (PLN M) of the strategic Q1 2007 subsidiaries Q1 2008 in Q1 2008 9.4 11.4 12.3 10.5 10.5 8.8 7.4 up by over 40% YoY 5.8 5.3 4.1 4.4 3.1 2.8 2.5 2.5 2.
Slide 12: Agenda
Agenda BRE Bank Group Results Q1 2008 BRE Bank Group: A Quarter in Brief Key Achievements and Financial Results of the Business Lines Analysis of the Consolidated Financial Results Appendix 12
Slide 13: Corporations and Financial Markets in Q1 2008
Results and Achievements of the Business Lines Corporations and Financial Markets in Q1 2008 Summary Growing Business profitability expansion The Line’s profit before tax Loans to enterprises at PLN 321 M in Q1 2008 up by 40% YoY Significant growth in sales of including: loans and guarantees PLN 137
Slide 14: Corporates and Institutions: Summary of Q1 2008 - Clients
Results and Achievements of the Business Lines Corporates and Institutions: Summary of Q1 2008 Clients Corporate Clients: Number and Structure Total New Corporate Banking Customers 10 033 11 442 12 285 12 435 2552 614 2495 963 K1 948 K1 969 K1 928 K1 3 770 662 3 721 3 470 K2 K2 3 179 K2 K2 613 606 5
Slide 15: Corporates and Institutions: Loans and Deposits
Results and Achievements of the Business Lines Corporates and Institutions: Summary of Q1 2008 Loans and Deposits 5.9% 6.5% 6.7% 8.6% 9.3% 9.3% 5.9% 6.5% 8.6% 9.3% Market share in Market share in loans Corporate Deposits Volume deposits Corporate Loans Volume (BRE Bank, PLN B) (BRE Bank, PLN B) 14.4
Slide 16: Corporations and Financial Markets: Financial Results
Results and Achievements of the Business Lines in Q1 2008 Corporations and Financial Markets in Q1 2008 Financial Results Financial Resultsof the Line, Q1 2008 The profit before tax of the Line in Q1 2008 (PLN M) up by 133% YoY to PLN 321 M -6 (net of the sale of Vectra: up by 33.2% YoY, or by PLN
Slide 17: BRE Bank Retail Banking in Q1 2008
Results and Achievements of the Business Lines BRE Bank Retail Banking in Q1 2008 Summary Steady high Steady growth contribution to the of the client base Line’s profit Acquisition in Q1 2008: PLN 76 M of profit before tax of the in Poland: Line in Q1 2008 (up by 9.8% YoY) 121.4 k clients (+6% QoQ)
Slide 18: Retail Banking: Clients, Deposits and Loans
Results and Achievements of the Business Lines BRE Bank Retail Banking in Q1 2008 Clients, Deposits and Loans At the end of Q1 2008 End of Q1 2008 Change End of 2007 (M) 2.2 M 2.0 M 3 clients +6.0% +6.0% 2 1 0 2.6 M accounts +6.7% +6.7% 2.4 M Customers Accounts 12.0 B deposits (PLN) +15.4% 10.4 B +1
Slide 19: Retail Banking: Mortgage Loans
Results and Achievements of the Business Lines BRE Bank Retail Banking in Q1 2008 Mortgage Loans Successful quarter in the mortgage loans market Mortgage loans balance-sheet portfolio up by PLN 1.5 B in 2008 (+53.6% YoY) jointly in mBank and MultiBank #2 in Poland* in newly granted mortgage loan
Slide 20: Retail Banking (+PB): Financial Results
Results and Achievements of the Business Lines BRE Bank Retail Banking (+PB) in Q1 2008 Financial Results Structure of the Profit before Tax of Retail Profit before Tax of the Segment Banking in Q1 2008 (by quarter**, PLN M) -16 MultiBank; (PLN M) mBank 33.4 CZ &SK 69.3 70.9 57.5 76.0 48.9 -27,1 43.
Slide 21: Agenda
Agenda BRE Bank Group Results Q1 2008 BRE Bank Group: A Quarter in Brief Key Achievements and Financial Results of the Business Lines Analysis of the Consolidated Financial Results Appendix 21
Slide 22: P&L of Continued Operations
Analysis of the Results, Q1 2008 P&L of Continued Operations (PLN M) Q1 2008 QoQ change YoY change Total income* 789.2 +30.3% +57.6% Total cost (344.7) -7.0% +19.6% Operating profit** 444.5 +89.1% +109.2% Net provisions (22.2) -38.5% +220.3% Profit before tax 422.3 +112.3% +105.4% Net profit*** 360.
Slide 23: Significant Growth of Income
Analysis of the Results, Q1 2008 Significant Growth of Income Income up by 30.3%, also driven by the one-off profit on the sale of Vectra and the seasonal high profit of BRE.locum Income net of the Vectra transaction up by 7.6% QoQ BRE Bank Group Income Structure of BRE Bank Group Income Q1 2008
Slide 24: Interest Income
Analysis of the Results, Q1 2008 Interest Income Net Interest Income, Q1 2008 by Business Line* (PLN M) 21.5 -3.4 -2.1 Steadily growing 160.8 interest margin 316.4 , 139.7 Management Eliminations Banking & Income in Q1 Trading and Investments Corporates & Structure of Interest Income Q1 2008 Net Int
Slide 25: Commission Income
Analysis of the Results, Q1 2008 Commission Income Net Commission Income, Q1 2008 by Business Line* Structure of Net Commission Income Q1 2008 (PLN M) (%) Guarantees 6.7 5.9 and trade Other finance Brokerage commission -6.2 8% fees s and fees 97.3 14% 4% Client's 157.1 accounts and money transfers 5
Slide 26: Costs under Control
Analysis of the Results, Q1 2008 Costs under Control Overhead Costs (+Amortisation/Depreciation) of the BRE Bank Group C/I ratio** By Quarter -7.0% -7.0% of regular operations Costs, +19.6% +19.6% QoQ QoQ C/I at 52.7% in Q1 2008 PLN M % 360 90 320 80 280 70 Overhead costs and amortisation/deprecia
Slide 27: Credit Provisions
Analysis of the Results, Q1 2008 Credit Provisions Stabilised quality of the portfolio Net provisions driven by portfolio provisions growing with the growth of the risk portfolio Net Credit and Loans Impairment Provisions BRE Bank Portfolio Quality: Comparison (consolidated data, PLN M) (%) 5 4 4.6
Slide 28: The Bank Keeps a Safe Capital Adequacy Ratio
Analysis of the Results, Q1 2008 The Bank Keeps a Safe Capital Adequacy Ratio Relation between Capital Adequacy Ratio (CAR) Available growth in RWA as at 31.03.2008 (PLN B; LHS) and Risk Weighted Assets (RWA) RWA (PLN B, LHS) 70 12,5% CAR (%; RHS) 11,5% 60 10,5% 50 9,5% 40 8,5% 30 7,5% 6,5% Dynami
Slide 29: Is the BRE Bank Group Considering a Change of Strategy?
Summary Is the BRE Bank Group Considering a Change of Strategy? The main directions of BRE Bank Group’s strategic development remain valid 2008 business targets and mid-term financial goals are maintained Updated strategy of the BRE Bank Group for the years 2009-2011 to be announced in the autumn of
Slide 30: Summary
Summary 1 ROE on the core business continues to grow; it was 35.3% before tax in Q1 2008 Dynamic growth in volumes of gross loans, up by 10.3% QoQ and 42.2% YoY; with a balanced contribution of retail loans and corporate loans 2 Deposits grew less fast due to seasonal factors (up by 3.7% QoQ): corpo
Slide 31: Appendix
Agenda Appendix —> BRE BANK SA 31
Slide 32: Detailed Results of the Business Lines, Q1 2008
Appendix Detailed Results of the Business Lines, Q1 2008 32
Slide 33: Retail Banking v. the Market: Deposits and Investment Funds
Appendix BRE Bank Retail Banking v. the Market: Deposits and Investment Funds Deposits and Investment Funds (PLN B) 2008: 3.5% BRE Bank Retail Banking Line 1.3% 1.7% 2.1% 2.6% 3.1% continues 15 400 to grow above the market 350 12,5 300 10 250 7,5 200 150 5 BRE Bank (LHS) 100 Market (RHS) 2,5 50 2003
Slide 34: Retail Banking: Savings
Appendix BRE Bank Retail Banking: Savings BRE Bank customers quickly react Debt to changing conditions on the financial market Securitie s Investment Fund Assets Structure 5.4% At Quarter End of Investment (PLN M) Funds Assets 2 904 Pienię- 2 719 2 434 żne 2 002 7.2% 1 819 1 588 1 245 995 1 077 Equi
Slide 35: Retail Banking: mBank eBroker, MultiBank Brokerage Service
Appendix BRE Bank Retail Banking: mBank – eBroker, MultiBank – Brokerage Service Dynamic growth Opened Investment Accounts (thou., incremental) 90.0 of brokerage services 74.4 83.0 for Retail Banking 62.3 customers 46.1 37.3 34.2 28.1 23.5 In March 2008 14.1 17.3 11.0 12.4 13.8 9.4 eBroker trading
Slide 36: Retail Banking v. the Market: Loans
Appendix BRE Bank Retail Banking v. the Market: Loans BRE Retail Banking Loans 2008 (PLN B) 5.5% 1.2% 2.1% 3.0% 4.5% 5.2% 15 250 BRE Retail Banking loans portfolio up to PLN 14.9 B 12,5 200 10 150 7,5 Market share 5 100 in retail loans 50 up to 5.5% at the end of March 2008 2,5 2003 2004 2005 2006 2
Slide 37: Retail Banking v. the Market: Mortgage Loans
Appendix BRE Bank Retail Banking v. the Market: Mortgage Loans In Q1 2008 we sold PLN 1 463 M of new mortgage loans, remaining one of the top market leaders Housing Loans 2008: Mortgage Loans: Market Leaders by Value of Sales (PLN B) 9.7% January-February 2008 (PLN B) 14 2.9% 5.1% 6.5% 9.0% 9.5% 120
Slide 38: Mortgage Loans: Portfolio Structure and Quality
Appendix BRE Bank Retail Banking: Mortgage Loans: Portfolio Structure and Quality BRE Bank’s Mortgage Loans Portfolio Structure of the Retail Banking Loans Portfolio (Retail Banking loans to individuals) (Household Loans) at 31.03.2008 3% 3% 5% Total PLN FX Balance-sheet value 12.2 2.3 9.9 (PLN B) A
Slide 39: Retail Banking: Acquisition of Microenterprises
Appendix BRE Bank Retail Banking: Acquisition of Microenterprises 251.1 thousand microenterprises served by BRE Bank Retail Banking mBank MultiBank Number of served enterprises 62.3 65.2 up by 15.5 thousand 55.4 59.1 53.2 in Q1 2008 46.0 48.0 50.8 42.5 39.0 PLN 1,324.7 M of loans 27.9 185.9 173.
Slide 40: Retail Banking: Growth of Sales, Q1 2008
Appendix BRE Bank Retail Banking: Growth of Sales, Q1 2008 mBank Clients Deposits Loans (thou.) +26% (PLN M) +48.9% (PLN M) +70.7% 104 1202 835 104 505 78 964 711 64 530 85 1732 752 8 831 6 234 1629 16 609 5 399 617 7 629 1290 3 043 1015 1140 4 035 05 06 07 08 07 07 07 07 08 05 06 07 08 05 06 07 08
Slide 41: Internet Platform – SUS and Insurance Centre
Appendix BRE Bank Retail Banking: Internet Platform – SUS and Insurance Centre ‘It’s hard to top the Car Insurance Supermarket’ Newsweek ‘mBank’s offer is the most attractive’ Pentor Research International The Car Insurance Supermarket (mBank) was launched on 13 February 2007 and the Insurance Cen
Slide 42: Retail Banking: Growth of the Distribution Network
Appendix BRE Bank Retail Banking: Growth of the Distribution Network mBank Distribution Network MultiBank Branches (in Poland) (in Poland) Total: Total: 7 24 54 65 67 75 83 103 117 35 46 72 84 93 101 101 109 113 44 46 44 44 225 41 139 41 38 27 34 4 10 4 13 61 61 57 57 65 67 42 52 56 58 46 52 22 40 3
Slide 43: mBank in Czech and Slovakia
Appendix BRE Bank Retail Banking: mBank in Czech and Slovakia At the end of Q1 2008 End of Q1 2008 Change End of 2007 (thou.) 150 120 90 85.3 thou. clients x3 x3 25.7 thou. 60 30 0 Customers Accounts 127.8 thou. accounts x4 x4 36.4 thou. (EUR M) (EUR M) 6 250 5 200 4 236.4 M deposits (EUR) x25 8.4 M
Slide 44: Corporates and Institutions: Loans and Deposits
Appendix Corporates and Institutions: Loans and Deposits 8% Corporate Loans Volume Corporate Deposits Volume (BRE Bank, PLN B) (BRE Bank, PLN B) 14.4 19.7 19.7 18.2 17.6 12.2 12.7 12.8 16.2 16.6 11.8 11.0 11.5 49% 53% 44% 10.4 14.4 45% 9.6 10.1 48% 52% 12.9 12.7 13.3 9.2 9.1 34% 34% 36% 38% 12.5 39%
Slide 45: Corporates and Institutions: Loans and Deposits – Market Share
Appendix Corporates and Institutions: Loans and Deposits – Market Share BRE Bank’s Market Share in Corporate Loans and Deposits* 12% 10% 8% 6% Source: NBP reports 4% Se 05 Se 06 Se 07 Ju 5 Ju 6 Ju 7 M 5 M 6 M 7 M 8 M 05 N 05 Ja 5 M 06 N 06 Ja 6 M 07 N 07 Ja 7 8 -0 -0 -0 -0 -0 -0 -0 0 0 0 0 p- p- p-
Slide 46: Corporates and Institutions: Cash Management
Appendix Corporates and Institutions: Cash Management Cash Management – Strategic Product Line Supporting Long-term Customer Relations Direct Debit Identification of Trade Payments Number of Clients Using Cash (thou. of transactions) (thou. of transactions) Consolidation Services +23.6% +23.6% +44.5
Slide 47: Foreign Trade Service and Risk Management Products
Appendix Corporates and Institutions: Foreign Trade Service and Risk Management Products Foreign Trade Service Sales of Financial Instruments The market position in foreign trade service The profit on sales of financial instruments and the launch of innovative product solutions to corporate cust
Slide 48: Good Market for Leasing and Factoring
Appendix Corporates and Institutions: Good Market for Leasing and Factoring BRE Leasing Intermarket Group Value of leasing contracts signed in Q1 2008 The profit before tax of Intermarket Group companies was PLN 0.8 B, up by 23% YoY in Q1 2008 was PLN 14.4 M (up by 17.0% YoY); Profit before ta
Slide 49: BRE Bank Hipoteczny (BBH)
Appendix Corporates and Institutions BRE Bank Hipoteczny (BBH) Loans Portfolio (PLN M) Profit before Tax (PLN M) Balance-sheet Exposure 81 86 95 100 569 562 108 511 118 466 190 Housing Loans** 427 399 213 2595 2700 Local 42.4 +21.1% +21.1% 2 196 2 386 Government 1 775 1 967 Loans 1 643 Commercial 9.
Slide 50: Dom Inwestycyjny BRE Banku (DI BRE)
Appendix Corporates and Institutions Dom Inwestycyjny BRE Banku (DI BRE) DI BRE Accounts End of Q1 2008 Profit before tax at PLN 10.5 M in Q1 2008 (thou.) compared to PLN 12.3 M in Q1 2007 DI BRE accounts 24.0 and PLN 53.9 M in 2007 eBroker (mBank) 91.0 DI BRE equities trading at PLN 5.9 B in Q1
Slide 51: Trading and Investments: Market Share
Appendix Trading and Investments Market Share BRE Bank’s Maret Share* BRE Bank in the Market in Investment Banking Services of Non-Treasury Debt** (BRE – in navy blue) at 31.03.2008 (PLN M) Market 13 989.1 BRE Bank 12 699.7 16.8% 22.7% 38.0% 11 128.7 3 271.5 2 481.5 2 718.4 Treasury IRS/FRA OIS Bill
Slide 52: Proprietary Investments Portfolio
Appendix Trading and Investments Proprietary Investments Portfolio Major Equity Investments Equity Stake at 31.03.2008 At the end of Q1 2008, the portfolio under management PZU SA 0.76% was PLN 312 M at cost Garbary Sp. z o.o. 100.00% Compared to the end of 2007, the portfolio under management w
Slide 53: Additional Information: Selected Financial Data
Appendix Additional Information: Selected Financial Data 53
Slide 54: Consolidated Profit and Loss Account under IFRS
Appendix Additional Information: Selected Financial Data Consolidated Profit and Loss Account under IFRS PLN’000 Q1 2007 Q2 2007 Q3 2007 Q4 2007 Q1 2008 By quarter * Net interest income 227 536 241 394 267 770 291 083 315 346 Net commission income 142 857 146 631 139 004 135 721 150 441 Dividend inc
Slide 55: Net Interest Income
Appendix Additional Information: Selected Financial Data Net Interest Income The net interest income up quarter by Interest Income Structure (by quarter, consolidated data, PLN M) quarter: PLN 315.3 M in Q1 2008 v. PLN 291.1 M in Q4 2007, PLN 227.5 M in Q1 2007 790 8 Other 740 Consolidated net i
Slide 56: Net Commission Income
Appendix Additional Information: Selected Financial Data Net Commission Income Commission Income Structure (consolidated data, PLN M) Net commission income in Q1 2008 220 up by 10.9% QoQ 200 28 42 46 and up by 5.3% YoY 180 43 160 20 53 20 18 The largest item, lending commissions, up by 140 38 19
Slide 57: Trading Income
Appendix Additional Information: Selected Financial Data Trading Income Trading Income Structure (%) Q1 2008 Trading Income Structure (by quarter, consolidated data, PLN M) Trading & Origination 31,6% 160 140 120 Customer- 100 driven Risk & 62,7% liqidity 80 5,7% 60 Q1-4 2007 40 Trading & 20 Origina
Slide 58: Overhead Cost Structure
Appendix Additional Information: Selected Financial Data Overhead Cost Structure Structure of Overhead Costs (+Amortisation/Depreciation) C/I of the BRE Bank Group by quarter, PLN M, consolidated data (based on average balances) 7,7 57.6 58.0 58.1 360 10,3 56.9 8,7 41,4 320 45,4 7,1 8,9 280 45,4 42,
Slide 59: Loans and Deposits
Appendix Additional Information: Selected Financial Data Loans and Deposits Loans Deposits (PLN B) (PLN B, net) +44.3% +44.3% +26.0% +26.0% 37,2 32,4 33,6 31,6 33,7 29,3 29,0 29,0 26,7 25,8 +12% +12% +9% +9% +7% +7% +11% +11% +10% +10% -1% -1% +12% +12% +4% +4% 31.03.07 30.06.07 30.09.07 31.12.07 31
Slide 60: Balance Sheet Analysis: Assets
Appendix Additional Information: Selected Financial Data Balance Sheet Analysis: Assets Structure of Assets Loans and Advances to Customers* (PLN B) - Portfolio by Customer Category (PLN B) 65 60 3,2 5% 40 55 4,4 8% 3,9 7% 0,6 2% 8% 3,7 4,9 8% 35 50 4,1 7% 0,6 2% 4,8 10% 3,7 7% 2,2 4% 0,8 3% 45 7% 6
Slide 61: Balance Sheet Analysis: Liabilities
Appendix Additional Information: Selected Financial Data Balance Sheet Analysis: Liabilities Structure of Liabilities Structure of Deposits (PLN B) (PLN B) 65 60 35 5,7 9% 0,2 1% 55 9% 0,7 2% 4,9 3,7 6% 30 0,1 0% 50 4,1 8% 3,4 6% 2,7 4% 0,2 1% 45 4 8% 3,3 6% 2,9 5% 0,2 1% 3,6 8% 3,1 6% 3,4 7% 25 18,
Slide 62: Capital Adequacy Ratio
Appendix Additional Information: Selected Financial Data Capital Adequacy Ratio Capital Adequacy Ratio under NCA Capital Requirement 31.12.2007 31.12.2007 Q1 2008 (PLN M) Basel I Basel II Basel II Credit risk 2 998 2 896 3 218 Market risk 93 123 125 Operational risk - 280 280 Other risks 24 47 51 To
Slide 63: Structure of BRE Bank's Risk Portfolio
Appendix Additional Information: Selected Financial Data Structure of BRE Bank’s Risk Portfolio Continued decrease of default loans as a percentage of the loans portfolio, falling ratio of provisions to default exposures 9.2% 8.5% 7.2% 5.9% 5.6% 5.5% 4.8% 4.4% 4.6% 3.6% 3.6% Quality of the Loans and
Slide 64: NPLs: Portfolio Structure
Appendix Additional Information: Selected Financial Data NPLs: Portfolio Structure* The share of NPLs in the portfolio (balance-sheet) remained stable 31.03.2008 31.12.2007 31.03.2007 Expo- % Provi- Expo- % Provi- Expo- % Provi- sure sions % sure sions % sure sions % As BRE Bank PLN B coverage PLN B
Slide 65: Macroeconomics
Appendix Macroeconomics GER BRE BANK SA 65
Slide 66: Macroeconomics: GDP and Labour Market
Appendix Macroeconomics: GDP and Labour Market Relatively high GDP growth, GDP growth factors (%) very dynamic growth of wages 10 Consumption Others Investment GDP Net exports and employment 8 6 GDP growth at 6.1% YoY in Q4 2007 4 and 6.6% YoY in 2007 2 However, gradual decrease in GDP rate sinc
Slide 67: Macroeconomics: Inflation and NBP Interest Rates
Appendix Macroeconomics: Inflation and NPB Interest Rates Growing inflation: CPI (% YoY), RPP inflation target NBP intervention rate (%) A monetary policy challenge 7% CPI NBP 6% CPI since November 2007 above the ceiling 5% of the band of deviation from the inflation target; CPI at 4.1% YoY in Mar
Slide 68: Macroeconomics: Loans and Deposits in the Banking Sector
Appendix Macroeconomics: Loans and Deposits in the Banking Sector Sharp fall Corporations in corporate deposit growth, 35 30 Deposits Loans gradually slowing growth 25 of household loans 20 15 10 Growth of corporate deposits down 5 from ca. 30% to only 6.1% YoY 0 This means that the free cash av
Slide 69: Contact
Contact BRE Bank’s Investor Relations Officers at your service: Jakub Korczak Director, Investor Relations Direct dial: +48 22 829 04 79 Secretariat: +48 22 829 02 98 Fax: +48 22 829 02 97 E-mail: jakub.korczak@brebank.pl or Joanna Filipkowska Tel.: +48 22 829 04 53 Analyst, Investor Relations Fax: