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Consolidated financial statements

Consolidated income statement for the year ended 31 December 2014

  Note Period
from 1 January 2014 
to 31 December 2014		 Period
from 1 January 2013
to 31 December 2013
Continuing operations*)   PLN’000 PLN’000
Interest income 7 416,278 423,400
Interest expense 7 (148,128) (179,593)
Net interest income   268,150 243,807
Fee and commission income 8 102,304 73,006
Fee and commission expense 8 (42,647) (31,378)
Net fee and commission income   59,657 41,628
Gain/loss on financial instruments measured at fair value through profit or loss and gain/loss on foreign exchange transactions 9 2,763 2,905
Profit/loss on other financial instruments 10 1,770 5,980
General and administrative expenses 11 (218,622) (212,738)
Net impairment losses 13 (61,013) (42,398)
Other operating revenue 14 8,736 8,739
Other operating expenses 15 (6,296) (4,663)
Operating profit/loss   55,145 43,260
Gross profit   55,145 43,260
Income tax 16 (11,506) (7,233)
Net financial profit/loss for the current period   43,639 36,027
Including attributable to:      
  - shareholders of the parent   43,639 36,027
Weighted average number of ordinary shares   9,729,040 9,729,040
Basic earnings per ordinary share (in PLN)**   4.49 3.70

* In the year ended 31 December 2014 and in the comparable period no operations were discontinued in the Capital Group.
** The Capital Group does not calculate diluted earnings per share, because in the current period and in the preceding years there have been no capital categories resulting in share dilution.

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Consolidated statement of other comprehensive income for the year ended 31 December 2014

  Note Period
from 1 January 2014
to 31 December 2014		 Period
from 1 January 2013
to 31 December 2013
    PLN’000 PLN’000
Net financial profit/loss for the current period   43 639 36,027
Items that may be reclassified to profit or loss in future:      
Gain/loss on measurement of financial assets available for sale, including: 25, 35.3 4,697 (11,321)
  - deferred tax 16 (1,102) 2,655
Gain/loss on sales of financial assets available for sale reclassified to profit or loss, including:    1,227  5 881
  - deferred tax  16  (288)  (1,379)
Settlement of measurement of financial assets available for sale reclassified to assets held to maturity    (1,820)  (319)
  - deferred tax  16  428  75
Items that will not be reclassified to profit or loss in future:      
Actuarial gains and losses on measurement of defined benefit plans, including:   124 27
- deferred tax 16 (29) (7)
Other comprehensive income total 35.3 4,228 (5,732)
Total income   47,867 30,295
Including attributable to:      
  - shareholders of the parent   47,867 30,295

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Consolidated statement of financial position as at 31 December 2014

  Note Balance as at
31 December 2014		 Balance as at
31 December 2013
    PLN’000 PLN’000
       
Cash in hand and deposits with the Central Bank 19 757,643 327,242
Receivables from other banks 20 158,269 36,329
Financial assets held for trading 22 1,336 1,369
Loans and advances granted to clients 23 5,151,777 5,055,712
Investments in financial assets: 24 1,519,266 1,842,036
  - available for sale 24 1,100,547 1,455,018
  - held to maturity 24 418,719 387,018
Property, plant and equipment 25 47,921 44,666
Intangible assets 26 32,401 30,215
Current income tax receivables 16 120 98
Net deferred tax asset (asset items) 16 21,020 18,004
Other assets 27 29,274 27,074
Total assets   7,719,027 7,382,745
 
Liabilities and equity      
Liabilities to the Central Bank 28 11 11
Liabilities to other banks 29 4,020 41,762
Liabilities arising from sold securities (repo) 21 177,701 49,610
Financial liabilities held for trading 22 94 17
Liabilities to clients 30 6,492,023 6,230,578
Liabilities arising from issue of debt securities 31 358,256 431,597
Subordinated liabilities 32 142,090 142,027
Current income tax liabilities 16 2,979 3,138
Provisions 33 2,855 3,419
Other liabilities 34 99,366 88,821
Total liabilities   7,279,395 6,990,980
 
Share capital   97,290 97,290
Supplementary capital   34,068 34,068
Revaluation reserve   2,877 (1,351)
Other reserve capitals   267,238 242,207
Retained earnings   38,159 19,551
Total equity 35 439,632 391,765
Total liabilities and equity   7,719,027 7,382,745

 
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Consolidated statement of cash flows for the year ended 31 December 2014

  Note Period
from 1 January 2014
to 31 December 2014		 Period
from 1 January 2013
to 31 December 2013
Cash flows from operating activities   PLN’000 PLN’000
Net financial profit/loss for the current period   43,639 36,027
Total adjustments:   508,408 (824,396)
Amortization/ depreciation 11 20,804 21,939
Interest accrued (from the income statement)   (268,150) (243,807)
Interest paid
(126,364) (158,897)
Interest received   377,379 372,684
Gain/loss on investing activities   (55) (13)
Change in the balance of receivables from other banks 39 (121,102) (8,180)
Change in financial assets held for trading   33 (603)
Change in loans and advances to customers 39 (64,862) (422,186)
Change in investment financial assets available for sale 39 367,305 (384,898)
Change in investment financial assets held to maturity 39 (32,227) 6,028
Change in the balance of other assets   (2,200) (11,797)
Change in liabilities to the Central Bank   0 5
Change in liabilities to other banks 39 (37,699) 38,894
Change in liabilities arising from securities sold under sell-and-buy-back arrangements   128,091 49,610
Change in financial assets held for trading   77 0
Change in liabilities to customers 39 260,475 (88,349)
Change in provisions   (564) (576)
Change in other liabilities 39 10,851 12,011
Income tax paid   (15,695) (13,746)
Tax expense recognized in the income statement   11,506 7,233
Other items 39 805 252
Net cash from operating activities   552,047 (788,369)
 
Cash flows from investing activities      
Receipts from investing activities   71 58
Sale of property, plant and equipment   71 58
Payments to investing activities   26,913 25,527
Acquisition of intangible assets   11,415 12,828
Acquisition of property, plant and equipment   15,498 12,699
Net cash from investing activities   (26,842) (25,469)
 
Cash flows from financing activities      
Proceeds from financing activities   330,000 227,850
Issue of debt securities   330,000 227,850
Payments to financing activities   424,421 23,657
Payment of lease liabilities   311 623
Bond buyback   400,000 0
Payment of interest on issued financial instruments and contracted subordinated liabilities   24,110 23,034
Net cash from financing activities   (94,421) 204,193
 
Net increase (decrease) in cash and cash equivalents   430,784 (609,645)
including net exchange differences   71 (127)
Cash and cash equivalents at the beginning of the period   331,700 941,345
Cash and cash equivalents at the end of the period 39 762,484 331,700

 
Pobierz XLS

Consolidated statement of changes in equity for the year ended 31 December 2014

  Note Share capital Supplementary capital Revaluation
reserve		 Other reserve
capitals		 Retained earnings Total equity
 
      Statutory
supplementary capital		 Share premium     Undistributed
profit/loss		 Net financial
profit/loss for
the current
period
    PLN’000 PLN’000 PLN’000 PLN’000 PLN’000 PLN’000 PLN’000 PLN’000
As at 1 January 2014   97,290 25,468 8,600 (1,351) 242,207 (16,476) 36,027 391,765
Profit for the period   0 0 0 0 0 0 43,639 43,639
Total comprehensive income   0 0 0 4,228 0 0 0 4,228
Comprehensive income   0 0 0 4,228 0 0 43,639 47,867
Profit distribution   0 0 0 0 25,031 10,996 (36,027) 0
As at 31 December 2014 35 97,290 25,468 8,600 2,877 267,238 (5,480) 43,639 439,632

 

Consolidated statement of changes in equity for the year ended 31 December 2013

  Note Share capital Supplementary capital Revaluation
reserve		 Other reserve
capitals		 Retained earnings Total equity
 
      Statutory
supplementary capital		 Share premium     Undistributed
profit/loss		 Net financial
profit/loss for
the current
period
    PLN’000 PLN’000 PLN’000 PLN’000 PLN’000 PLN’000 PLN’000 PLN’000
As at 1 January 2013   97,290 25,161 8,600 4,381 195,070 (7,981) 38,949 361,470
Profit for the period   0 0 0 0 0 0 36,027 36,027
Total comprehensive income   0 0 0 (5,732) 0 0 0 (5,732)
Comprehensive income   0 0 0 (5,732) 0 0 36,027 30,295
Profit distribution   0 307 0 0 47,137 (8,495) (38,949) 0
As at 31 December 2013 35 97,290 25,468 8,600 (1,351) 242,207 (16,476) 36,027 391,765

 
Pobierz XLS

 

Annual Report 2014 - Bank Pocztowy