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Aggregate operational, non-exceptional net profit increased to $512.63 million in the first half of 2017, growing by 2.18% from the same period in 2016. The un-audited financial results of the three largest listed Lebanese banks (BLOM, Audi, and Byblos) for the first half of 2017 show that they have maintained their sustainable performance and growth, despite the continuing difficult operating conditions arising from the economic slowdown in Lebanon and political instability in neighboring countries. We will also use the opportunities offered by co-operation within the largest financial group in Central Europe to increase the dynamics of the Bank's development" - said Michał Krupiński, Vice President of the Management Board of Bank Pekao S.A., head of the Board.* Doe not include the exceptional profits of $95.22 million made from the sale of Bank Audi’s credit cards operations. The new management team relies on Pekao's strong position, using fresh insights and no restrictions related to the situation of the former strategic investor. Further improvement of both performance and credit risk ratios were the basis of almost 10% increase in net profit under comparable conditions – said Tomasz Kubiak CFO of Bank Pekao S.A. The results of the second quarter are a continuation of the current solid trends. All key parameters were improved, with the cost of risk at 39bps and the NPL ratio at 5.9%, while the provision coverage ratio increased to 75.4%. Cost / income ratio amounted to 45.4%.Īssets quality was maintained at a consistently sound level. (+3.7% yoy)īank continued improvement of operating costs efficiency, reducing costs by (-1.4% yoy) to PLN 1,594m. Retail deposits, up by +7.5% yoy to PLN 73,303m, while corporate deposits amounted to PLN 62,302m. In the first half of the year, new retail loans increased to 8,9bn (+38% yoy), driven by strong performance of retail loans PLN 4,8bn. The Group’s net interest margin after six months was stable on the level of 2.77%, thanks to +2bps qoq.Īfter six months fees and commission amounted to PLN 1,156 m ( -2.1% yoy), and reflected lower credit activity of corporate customers and continued migration of customers to the digital channels.īank Pekao achieved double-digit growth in key retail loans, +12.5% yoy to PLN 54,768m, while key corporate loans grew by +1.5% yoy to PLN 55,895m. In the first half of 2017 net interest income increased to PLN 2,251m, (+4.6% yoy), thanks to an increase in volumes. Total operating income reached PLN 3,511m (+2.7% yoy) on comparable terms. In first half of 2017 the value of new retail loans reached a record level of PLN 8.9 bln (+38.0% yoy).Īfter first half of the year Pekao’s consolidated net profit reached PLN 885m, which means that on comparable basis net profit was +9.5% higher yoy.įirst half operating profit was at the level of PLN 1, 917m (+6.5% yoy) in comparable terms.Ĭore operating income reported for the first half of 2017 amounted to PLN 3,407m, (+2.2% yoy). Bank continued a double digit grow of key retail loans, up by +12.5% yoy and solid grow of retail savings (+ 7.5% yoy).
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ROE increased by 1.2 pp, at the level of 8.7% delivered with strong capital base with Core Tier I at 18,0%. for the first half of 2016 amounted to PLN 885 m +9.5% yoy on comparable basis. Consolidated net profit of Bank Pekao S.A.