Slide 1: BRE Bank Group Results Q1-2 2007
BRE Bank Group Results Q1-2 2007 Profitable Growth BRE Bank SA Management Board Presentation for Investors and Analysts 31 July 2007 1
Slide 2: Agenda
Agenda Introduction Summary of Q1-2 2007 BRE Bank’s Q1-2 2007 Results Business Line Financial Results and Highlights Analysis of Q1-2 2007 Financial Results Appendix Detailed Results of the Business Lines, Q2 2007 Additional Information on Selected Financial Data Macroeconomics 2
Slide 3: Agenda
Agenda Introduction Summary of Q1-2 2007 BRE Bank’s Q1-2 2007 Results Business Line Financial Results and Highlights Analysis of Q1-2 2007 Financial Results Appendix Detailed Results of the Business Lines, Q2 2007 Additional Information on Selected Financial Data Macroeconomics 3
Slide 4: Summary of Q1-2 2007
Summary of Q1-2 2007 1 High Highprofitability profitability 2 Focus Focuson oncustomer customerbusiness business 3 Strengthened Strengthenedposition positionin instrategic strategicmarkets markets 4
Slide 5: Summary of Q1-2 2007: High Profitability of Regular Business Operations
Summary of Q1-2 2007 High Profitability of Regular Business Operations Profit before tax (continued and discontinued PLN 530.6 M operations) Profit before tax (continued operations) PLN 436.4 M ROE before tax* 33.5% Cost/Income (C/I)* 58.0% Capital adequacy ratio (CAR) 10.41% All presented financial
Slide 6: Dynamic Growth in Loans to Customers
Summary of Q1-2 2007 Dynamic Growth in Loans to Customers Growth in Loans (PLN M) +32% +32% Gross loans to customers up 32% YoY, including: 3,2 -0,9 4,9 +22,6% -41,5% +75,9% Retail loans up 75.9%. 29,9 Corporate loans up 22.6%. 22,6 30.06.2006 Individual Corporate Other 30.06.2007 clients clients
Slide 7: Deposits
Summary of Q1-2 2007 Deposits Growth in Deposits (PLN M) +34,5% +34,5% Total deposits up 34.5% YoY, mainly including: 5,4 -0,1 Corporate deposits up considerably 2,2 (+41.3% YoY) 29,3 +25,7% +41,3% -30,7% Retail deposits up steadily though at a falling 21,8 rate (+25.7% YoY) 30.06.2006 Individual
Slide 8: Agenda
Agenda Introduction Summary of Q1-2 2007 BRE Bank’s Q1-2 2007 Results Business Line Financial Results and Highlights Analysis of Q1-2 2007 Financial Results Appendix Detailed Results of the Business Lines, Q2 2007 Additional Information on Selected Financial Data Macroeconomics 8
Slide 9: Growing Profitability of Business Lines
Summary of Q1-2 2007 Results Business Line Results Growing Profitability of Business Lines Profit before Tax by Business Line, Q1-2 2007 v. Q1-2 2006 (PLN M) Corporations and Financial Markets Retail Banking (+PB) +56.8% +460.4% 230.6 +109.2% 126.7 147.1 82.9 39.6 22.6 Corporates and Institutions Tr
Slide 10: Strategic Subsidiaries Results
Summary of Q1-2 2007 Results Strategic Subsidiaries Results Profit before Tax of Consolidated Subsidiaries Profit before tax of 30,9 (PLN M) strategic subsidiaries 25,3 I-IIQ2006 up by nearly 22% 19,017,5 I-IIQ2007 17,6 13,4 13,1 12,7 year on year 11,0 8,6 9,2 6,8 5,5 5,4 5,5 5,7 2,6 2,7 2,4 2,8 -2,
Slide 11: Agenda
Agenda Introduction Summary of Q1-2 2007 BRE Bank’s Q1-2 2007 Results Business Line Financial Results and Highlights Analysis of Q1-2 2007 Financial Results Appendix Detailed Results of the Business Lines, Q2 2007 Additional Information on Selected Financial Data Macroeconomics 11
Slide 12: Corporations and Financial Markets: Summary
Business Line Results and Highlights, Q2 2007 Corporations and Financial Markets: Summary Growing Business Expansion Profitability Profit before tax Corporate loans up 28.3% YTD. in Q1-2 2007 Number of corporate customers up 68% YoY to PLN 313.6 M in Q1-2 2007 up by 1,219 to exceed 12 thou. Active p
Slide 13: Corporates and Institutions: Customers
Business Line Results and Highlights, Q1-2 2007 Corporates and Institutions: Customers Total New Corporate Banking Customers 848 2 552 1 917 Active acquisition: 557 number of clients grew 649 613 in Q1-2 2007 by 1,219 498 606 (6.3% YoY) I - XII I - III IV - VI VII - X-XII I- XII I- III IV-VI 2005 20
Slide 14: Corporations and Financial Markets: Financial Results
Business Line Results and Highlights, Q1-2 2007 Corporations and Financial Markets: Financial Results Net fee and Net interest commission Net trading Impairement Costs and income income income losses amortization Pre-tax profit Line’s Financial Results, 313,6 281,0 Line’s profit before tax at PLN
Slide 15: Retail Banking: Summary
Business Line Results and Highlights, Q1-2 2007 Retail Banking: Summary Growing Fast Growth of Customer Base Contribution to 190 thou. new customers (+12% Group Profit YTD) including 21 thou. PLN 126.7 M profit before tax, microcorporates and 240 thou. new more than PLN 100 M YoY. accounts (+13%) ye
Slide 16: Retail Banking: Loans
Business Line Results and Highlights, Q1-2 2007 Retail Banking: Loans Loans 2007: 12,5 250 Market share (PLN B) 4.9% 10 200 Retail Portfolio up PLN 2.5 B (to PLN 10.7 B), resulting in 7,5 150 4.4% 3.0% 2.1% improvement of market BRE Bank (LHS) 5 100 Market (RHS) share in retail loans to 4.9% 2,5 1.2
Slide 17: Retail Banking: Savings
Retail Banking:Line Business Savings Results and Highlights, Q1-2 2007 BRE Bank customers opt for more profitable investments Debt securities 2 904 2.6% Monetary Investment Fund Assets at Quarter End (PLN M) 5.0% 2 002 1 588 Equity 1 245 72.8% 995 1 077 Hybrid Structure of 19.6% Investment Fund Asse
Slide 18: Analysis: Retail Banking (+PB) Financial Results
Business Line Results and Highlights, Q1-2 2007 Analysis: Retail Banking (+PB) Financial Results Structure of Retail MultiBank; Segment’s Profit 69.3 Banking Profit 42.0 before Tax 57.5 before Tax, (by quarter, PLN M) 47.3 Q1-2 2007 43.6 (PLN) Other; -6.8 9.7 1.1 1.5 8.6 mBank; 75.1 PB; 16.4 0.0 0.8
Slide 19: Structure of BRE Bank Group's Profit
Business Line Results and Highlights, Q1-2 2007 Structure of BRE Bank Group’s Profit Income * Cost 356; 15; 1% 58% 587; 56% 14; 2% 333; 31% 206; 121; Result/Gross Profit 34% 12% Corporates and Institutions 52.3% 38; 6% 231 Corporates Trading and Investments and Markets Retail Banking 83 * The total
Slide 20: Agenda
Agenda Introduction Summary of Q1-2 2007 BRE Bank’s Q1-2 2007 Results Business Line Financial Results and Highlights Analysis of Q1-2 2007 Financial Results Appendix Detailed Results of the Business Lines, Q2 2007 Additional Information on Selected Financial Data Macroeconomics 20
Slide 21: Profit & Loss account of continued operations
Analysis of Q1-2 2007 Results Profit & Loss account of continued operations Q1-2 Q1-2 2007 2007 (PLN (PLN M) M) Change Change YoY YoY Change Change QoQ QoQ *** *** Total income* 1 052.5 +38.4% +10.2% Total costs (610.3) +22.7% +11.7% 442.3 +67.9% +8.1% Operating profit** Net provisions (5.9) -82.2%
Slide 22: Significant Growth in Core Business Income
Analysis of Q1-2 2007 Results Significant Growth in Core Business Income Steady growth of net interest income, improving trading profit BRE Bank Group Income Q2 2007 v. Q1 2007 Net commission income grew PLN M +10.2% +10.2% quarter by quarter and was the largest income item at PLN 241.4 M 16.6 in
Slide 23: Costs Under Control
Analysis of Q1-2 2007 Results Costs Under Control C/I ratio (for continued operations only) at 58.0%* in Q1-2 2007 Overhead Costs (+Amortisation/Depreciation) of the BRE Bank Group by Quarter +11.7% +11.7% Costs QoQ QoQ C/I Overheads at PLN 276.5 M in Q2 2007, up in PLN M +28.2% +28.2% w% 90 12.7%
Slide 24: Credit Provisions
Analysis of Q1-2 2007 Results Credit Provisions Continued improvement of the quality of the loans portfolio resulting in positive net credit and loans impairment provisions in Q2 2007 . Net Credit and Loans Impairment Provisions (consolidated data, PLN M) Net impairment of credit and Q1 Q2 Q3 Q4 Q
Slide 25: Structure of BRE Bank's Risk Portfolio
Analysis of Q1-2 2007 Results Stucture of BRE Bank’s Risk Portfolio Sustained high ratio of specific provisions to the default portfolio, falling share of NPLs in the total loans portfolio 11.8% 10.8% 9.2% 8.5% 7.2% 5.9% 5.6% 5.5% 4.8% 4.4% Quality of loans and default portfolio 4.4 4.4 3.9 3.9 3.5
Slide 26: Summary of Q1-2 2007
Summary of Q1-2 2007 1 High Highprofitability: profitability:33.5% 33.5%ROE ROE(before (beforetax) tax)on onregular regularoperations operations 2 Customer Customerbusiness businesscontributes contributes81% 81%of ofthe theGroup’s Group’sprofit profitbefore beforetax tax 3 Strengthened Strengthenedp
Slide 27: Appointment of a New Management Board Member
BRE Bank Group Results, Q1-2 2007 Appointment of a New Management Board Member BRE Bank Management Board: Division of Responsibility Sławomir Lachowski President, General Director Jerzy Jóźkowiak Bernd Loewen Jarosław Mastalerz* Management Board Member, Management Board Member, Management Board Memb
Slide 28: Agenda
Agenda Introduction Summary of Q1-2 2007 BRE Bank’s Q1-2 2007 Results Business Line Financial Results and Highlights Analysis of Q1-2 2007 Financial Results Appendix Detailed Results of the Business Lines, Q2 2007 Additional Information on Selected Financial Data Macroeconomics 28
Slide 29: Appendix: Detailed Business Lines Results and Highlights
Appendix Detailed Business Lines Results and Highlights: Retail Banking and Private Banking Corporations and Financial Markets Corporates and Institutions Trading and Investments 29
Slide 30: Retail Banking: Summary
Appendix Retail Banking: Summary At the end of Q2 2007 2500 [thou.] End of Q2 2007 Change End of Q1 2007 2000 1.82 1.82MM +5.2% 1.73 1.73MM 1500 customers +5.2% customers 1000 customers customers 2.15 2.15MM 2.05 2.05MM 500 accounts +4.9% +4.9% accounts accounts accounts 0 Customers Accounts PLN7.95
Slide 31: 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) 12,5 400 350 10 300 BRE Bank’s 7,5 2.1% 2.5% 250 Retail Banking 1.7% 200 Line continues 5 1.3% to grow above 150 100 2,5 50 the market 2003 2004 2005 2006 0 0 I I I I I VI VI VI VI XI
Slide 32: Retail Banking: Investment Funds
Appendix BRE Bank Retail Banking: Investment Funds Structure of Assets: MultiBank Investment Fund Assets MultiBank Investment Funds at Quarter End (PLN M) Debt Investment fund assets changed securities 2% 713 Monetary MultiBank by PLN 239.8 M in Q2 2007. 4% MultiBank customers’ interest Equity H
Slide 33: mBank eBroker, MultiBank Brokerage Service
Appendix BRE Bank Retail Banking: mBank – eBroker, MultiBank – Brokerage Service 62,3 Opened Dynamic growth of Investment brokerage services for Accounts (thou.) 46,1 retail customers 34,2 37,3 28,1 23,5 eBroker trading exceeded PLN 561 M 17,3 14,1 in June 2007, 9,4 6,7 and Brokerage Service tradi
Slide 34: Retail Banking v. the Market: Loans
Appendix BRE Bank Retail Banking v. the Market: Loans BRE Bank’s Retail Banking is steadily growing its share in the loans sector (especially for housing loans) Loans 2007: 12,5 2007: 250 10 Housing Loans 9.5% 100 (PLN B) 4.9% (PLN B) 10 200 8 80 7,5 150 6 6.5% 9% 60 3% 4.4% 5.1% 2.1% 5 100 4 40 1.2
Slide 35: Mortgage Loans: Portfolio Structure and Quality
Appendix BRE Bank Retail Banking: Mortgage Loans: Portfolio Structure and Quality Structure of the Retail Loans Portfolio (Household Loans) as at 30 June 2007 7% 6% BRE Bank’s Mortgage Loans Portfolio 2% (Retail Loans) Retail Mortgage Loans Total PLN FX Balance-sheet value 8.7 1.5 7.2 (PLN B) Averag
Slide 36: Car Insurance Supermarket
Appendix BRE Bank Retail Banking: Car Insurance Supermarket The Car Insurance Supermarket was launched on 13 February 2007 Comparison and choice of 7 offers of liability and accident insurance, each offer in 3 variants Purchase and service integrated with the eKONTO account 10 112 cars insured 24/7
Slide 37: Acquisition of Microenterprises
Appendix BRE Bank Retail Banking: Acquisition of Microenterprises 206.6 thousand Number of Microenterprises Served by microenterprises BRE Bank Retail Banking Line thou. served by BRE Bank 220 Retail Banking 55.4 170 53.2 50.8 48.0 46.0 9.7 thousand microenterprises acquired 120 39.0 42.5 in Q2 20
Slide 38: Growth of Sales, Q2 2007
Appendix BRE Bank Retail Banking: Growth of Sales, Q2 2007 mBank Customers Deposits Loans (thou.) +12.2% (PLN M) +11.3% (PLN M) +37.5% 530 617 -15,7 72 609 85 270 5915 4183 5314 64 1447 562 3043 328 3043 63 1290 1290 337 556 76 4035 1140 257 1015 5 06 06 06 6 07 07 7 00 00 00 05 06 07 05 06 07 06 06
Slide 39: Growth of the Distribution Network
Appendix BRE Bank Retail Banking: Growth of the Distribution Network mBank Distribution Network MultiBank Branches Total: Total: 7 24 54 56 61 62 62 67 71 35 46 72 82 83 84 84 93 102 44 41 139 97 38 38 38 38 50 52 56 34 40 42 46 47 22 4 13 46 46 52 58 33 38 44 45 7 31 2 14 14 15 15 15 15 15 2003 200
Slide 40: Detailed Business Lines Results and Highlights
Appendix Detailed Business Lines Results and Highlights: Retail Banking and Private Banking Corporations and Financial Markets Corporates and Institutions Trading and Investments 40
Slide 41: Corporates and Institutions: Newly Acquired Customers
Appendix Corporates and Institutions: Newly Acquired Customers Total New Corporate 1147 1 219 Customers • 1,219 new corporate customers acquired in H1 2007, i.e., 6.3% +6.3% +6.3% more than in H1 2006; of those, 76% were K3 customers and 20% were K2 customers. 06'2006 06'2007 • There were 12,012 cor
Slide 42: Corporates and Institutions: Loans and Deposits
Appendix Corporates and Institutions: Loans and Deposits 8% Corporate Loans Corporate Deposits (BRE Bank, PLN B) (BRE Bank, PLN B) 19.7 11.8 16.6 10.4 16.2 9.6 10.1 9.2 14.3 9.1 K1 49% 12.9 39% 8.4 34% 34% 48% 52% 37% 7.3 53% 10.7 10.9 K2 9.2 K3 57% 56% 58% 58% K3 37 41 42 % 39 % % % 4% 7% 8% 8% Ent
Slide 43: Loans and Deposits: Market Share
Appendix Corporates and Institutions : Loans and Deposits: Market Share BRE Bank’s Market Share in Corporate Loans and Deposits* 12,0% 10,0% 8,0% 6,0% Source: NBP reports 4,0% Ja -05 J a -06 Se 0 5 Se 0 6 N 5 N 6 7 Ju 5 Ju 6 M 05 M 06 M 07 M 5 M 6 M 7 0 0 -0 -0 -0 -0 -0 -0 ov ov l- l- p- p- n- n- n-
Slide 44: Cash Management – Supporting Long-term Customer Relations
Appendix Corporates and Institutions : Cash Management – Supporting Long-term Customer Relations Cash Management – Strategic Product Line Supporting Long-term Customer Relations Direct Debits Identification of Mass Payments Identification of Trade Payments (thou. transactions) (M transactions) (thou
Slide 45: Foreign Trade Service and Risk Management Products
Appendix Corporates and Institutions : Foreign Trade Service and Risk Management Products Structure of Profit on Trade Finance Products Profit on Financial Instruments (PLN M) +1.1 +1.1%% +8.6 +8.6%% 1.0% 1.3% PLN 76.8 M PLN 70.7 M 12.2% 11.6% 34,2% 35,3% 37.4 35.5% 36.1% 33.5 52,1% 52,2% 51.0% 51.3
Slide 46: Dom Inwestycyjny BRE Banku (DI BRE)
Appendix Corporates and Institutions: Dom Inwestycyjny BRE Banku (DI BRE) DI BRE Accounts (thou.) DI BRE accounts 23.0 DI BRE profit before tax at PLN 30.9 M year to date (up by more than 230% YoY). eBroker (mBank) 62.3 DI BRE equities trading at PLN 8.95 B in H1 2007. Brokerage Service (MultiBa
Slide 47: Good Market for Leasing and Factoring
Appendix Corporates and Institutions : Good Market for Leasing and Factoring BRE Leasing The Intermarket Group Value of leasing contracts executed in Jan-Jun The pre-tax profit of Intermarket Group companies was 2007: PLN 1.5 B, up 34% YoY. PLN 25.9 M in Jan-Jun 2007, up 6% YoY. The pre-tax prof
Slide 48: BRE Bank Hipoteczny (BBH)
Appendix Corporates and Institutions: BRE Bank Hipoteczny (BBH) Loans Portfolio (PLN M) Profit before Tax (PLN M) Balance-sheet Exposure 100 108 -8% -8% 118 466 190 427 399 Housing loans* 213 2196 Local government 19,0 1 967 17,5 1 643 1 775 loans Commercial loans 31.12.2005 31.12.2006 31.03.2007 30
Slide 49: Detailed Business Lines Results and Highlights
Appendix Detailed Business Lines Results and Highlights: Retail Banking and Private Banking Corporations and Financial Markets Corporates and Institutions Trading and Investments 49
Slide 50: Trading and Investments: Market Share and Position
Appendix Trading and Investments: Market Share and Position BRE Bank’s Market Share* BRE Bank in the Market in Investment Banking Services of Non-Treasury Debt** (BRE – in navy blue) As at 30 June 2007 (PLN M) 14,5% 18,6% 38,0% 16.57% 17.05% 37% #2 #2 #1 BRE Bank’s Market Share 12 211,5 Market BRE B
Slide 51: Trading and Investments: Proprietary Investments
Appendix Trading and Investments: Proprietary Investments Major Propietary Investments as at 31 Equity stake March 2007 r. At the end of Q2 2007, the Bank’s proprietary investments portfolio was Vectra SA* 19.95% PLN 278 M at cost. PZU SA 0.76% The portfolio at cost was stable year to date. Garb
Slide 52: Additional Information: Selected Financial Data
Appendix Additional Information: Selected Financial Data Consolidated Profit and Loss Account under IFRS Interest Income Structure, Interest Margin Fee and Commission Income Structure Cost Structure Balance Sheet Analysis – Structure of Assets and Liabilities Non-performing Loans 52
Slide 53: Consolidated Profit and Loss Account under IFRS
Appendix Additional Information: Selected Financial Data Consolidated Profit and Loss Account under IFRS PLN’000 Q1 2006 Q2 2006 Q3 2006 Q4 2006 Q1 2007 Q2 2007 By quarter * Net interest income 170 496 160 777 194 128 198 777 227 536 241 394 Net commission income 89 477 94 522 104 699 127 712 142 85
Slide 54: Net Interest Income
Appendix Additional Information: Selected Financial Data Net Interest Income Structure of Net Interest Income (consolidated figures, PLN M) Net Interest Income 7 Net interest income in Q2 2007 up 6.1% QoQ 550 510 9 34 Other and up 41.6% YoY. 470 22 33 430 4 31 29 Interest income (up 31.6% YoY) g
Slide 55: Net Commission Income
Appendix Additional Information: Selected Financial Data Net Commission Income Structure of Net Commission Income (consolidated figures, PLN M) 220 Net Commission Income 200 28 180 Net commission income up modestly QoQ 160 20 45 53 (up 2.5%) 140 38 and up 57.3% YoY. 120 40 41 18 18 Commission inc
Slide 56: Interest Income Structure
Appendix Additional Information: Selected Financial Data Interest Income Structure Structure of Net Interest Income Net Interest Income, Q2 2007 Q2 2007 by Business Line (consolidated figures, %) (consolidated figures, PLN M) 6.6 -3.3 -0.2 135.3 Debt securities held for trading 242.2 6% Loans and Ot
Slide 57: Commission Income Structure
Appendix Additional Information: Selected Financial Data Commission Income Structure Structure of Net Commission Income Net Commission Income, Q2 2007 Q2 2007 by Business Line (consolidated figures, %) (consolidated figures, PLN M) Guarantees 6.4 Other granted and 12% trade finance Brokerage -3.0 fe
Slide 58: Overhead Cost Structure
Appendix Additional Information: Selected Financial Data Overhead Cost Structure Structure of Overhead Costs BRE Bank Group’s C/I (+Amortisation/Depreciation) (based on average balances) by quarter, PLN M, consolidated figures 8.7 66.1 320 6.6 64.7 7.1 64.0 63.7 2.5 6.9 45.4 280 8.5 43.6 43.0 57.7 2
Slide 59: Loans & Deposits
Appendix Additional Information: Selected Financial Data Loans & Deposits +33.6% +33.6% +34.5% +34.5% 29,0 29,3 25,8 24,7 26,7 21,7 22,7 23,0 21,8 22,7 +4% +4% +2% +2% +12% +12% +12% +12% +4% +4% +8% +8% +8% +8% +10% +10% 30.06.06 30.09.06 31.12.06 31.03.2007 30.06.2007 30.06.06 30.09.06 31.12.06 31
Slide 60: Balance Sheet Analysis: Assets
Appendix Additional Information: Selected Financial Data Balance Sheet Analysis: Assets PLN B Structure of Assets Credits and Loans to Customers* PLN B 50 - Portfolio by Customer Category 45 12.1 25% 30 0.9 3% 40 10.0 22% 1.0 11.6 27% 1.5 3% 1.6 3% 25 4% 35 4.8 14% 8.5 22% 8.8 22% 1.5 3% 3.8 8% 1.9
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 50 30 4 8% 0,1 0% 3,6 8% 45 3,1 6% 0,2 1% 40 10% 3,6 9% 2,8 6% 3,5 7% 25 0,2 1% 3,8 3,1 8% 2,6 6% 3,6 8% 0,2 1% 35 4,7 13% 2,2 6% 2,5 6% 3,4 8% 9,0
Slide 62: Non-performing Loans: Portfolio Structure
Appendix Additional Information: Selected Financial Data Non-performing Loans: Portfolio Structure* Steadily decreasing share of NPLs in the (balance-sheet) loans portfolio 30.06.2007 31.12.2006 31.12.2005 Exposure % Provisions Exposure % Provisions Exposure % Provisions PLN B % PLN B % PLN B % cove
Slide 63: Improving Quality of BRE Bank's Risk Portfolio
Appendix Additional Information: Selected Financial Data Improving Quality of BRE Bank’s Risk Portfolio Change of average PD of the Corporate Portfolio 2,00% vs. Non-Retail Impairment Provisions 160,00 1,80% impairment provisions 1,80% 1,79% 140,00 1,71% 1,71% 1,65% average, weighted 1,60% Risk Volu
Slide 64: Macroeconomics
Appendix Macroeconomics > SRE? BRE BANK SA 64 =>
Slide 65: Macroeconomics: GDP and Labour Market
Appendix Macroeconomics GDP and Labour Market 35,0% Very fast growing GDP, 30,0% further improvement of the 25,0% GDP growth labour market 20,0% 15,0% GDP growth rate (7.4%) in Q1 2007 the 10,0% I highest in close to 10 years; the rate is 5,0% estimated to have dropped to ca. 6% in 0,0% Q2. Q1 Q2
Slide 66: Inflation and NBP Interest Rates
Appendix Macroeconomics Inflation and NBP Interest Rates Growing inflation pressure Inflation indicators prompted the MPC to 5,0% tighten the monetary policy 4,0% 3,0% 2,0% The Monetary Policy Council raised the 1,0% NBP interest rates in April and June; the 0,0% NBP reference rate was 4.5%. 07.05
Slide 67: Loans and Deposits in the Banking Sector
Appendix Macroeconomics Loans and Deposits in the Banking Sector Increasing growth of 70% Households corporate loans 60% (Dynamic YoY) 50% 40% Corporate loans up by more than 22% YoY in 30% June, approaching the growth in deposits; 20% strong interest in loans proves continued high investment acti
Slide 68: 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 Analyst, Investor Relations Tel.: +48 22 829 04 53 Fax: