Integrated Report 2020

Letter from the CFO

  • 102-14
  • 102-15

Dear All,

It is our pleasure to present the next integrated Annual Report of BNP Paribas Bank Polska S.A. in a digital version.

Transparent and reliable communication with the public is a strategic element for us as a listed company. We perceive reporting not only as providing information required by law or accounting standards, but also as presenting a comprehensive and consistent picture of the Bank’s activities and performance. In addition to financial and business data, non-financial aspects are growing in importance, which we increasingly include in our materials for capital market participants.

The 2020 Integrated Report outlines how we have performed in an unpredictable and changing environment and the impact this has had on our performance, business operations or strategic directions. The solid foundations we built following the integration completed in 2019 have allowed us to adapt smoothly to new circumstances, maintain our full operational capability and sustain our ability to generate satisfactory financial results.

The Group's net profit in 2020 amounted to PLN 733 million, its best annual result ever despite the impact of the pandemic and the increased risk associated with CHF loans. Despite the negative impact of the interest rate cuts to record-low level, we noted an increase in the Group's net banking income and, thanks to consistent cost control, we improved efficiency as expressed by the cost-to-income ratio to 53%.

Trends on the balance sheet side were consistent with the behaviour of the banking sector as a whole. Further improvement in the Bank’s liquidity position was driven by a significant increase in amounts due to Customers (by 4.5% year-on-year) and, on the other hand, by lower dynamics in gross loan volumes (+2.4% year-on-year), with loans to individual Customers increasing by 12.7% year-on-year and corporate loans decreasing by 4.2% year-on-year. We also improved our capital position, with a Group Tier 1 capital ratio of 13.55% at the end of 2020, that is 4.8 p.p. above the regulatory minimum.

The results we achieved in a challenging year 2020 show that we are on the right track in the transformation and implementation of the strategy of BNP Paribas Bank Polska, and further business model adaptation and sustainable growth remain our priorities in 2021.


Jean-Charles Aranda
Vice-President of the Management Board, CFO
BNP Paribas Bank Polska S.A.

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