Capital adequacy
Information about the qualitative and quantitative adequacy of the capital of ING Bank Śląski S.A.
Financial results
Actual information
Comparable data
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
Dividends
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
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.
| |
|
*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.
General meeting
Analysts & 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
5 |
4 |
2 |
| Buy / Accumulate | Hold / Neutral | Reduce / Sell |
202,12 PLN
Average target price
Last update: 1.10.2019
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 | 1 729 | 1 905 | 2 052 |
| number of previews | 11 | 11 | 11 |
| Last update: 1.10.2019 | |||
Rating
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) |
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 |
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