ING Bank Slaski S.A. Announces Consolidated and Standalone Earnings Results for the First Quarter Ended March 31, 2017
May 10, 2017 at 04:41 am EDT
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ING Bank Slaski S.A. announced consolidated and standalone earnings results for the first quarter ended March 31, 2017. For the period, the consolidated company reported net interest income of PLN 815.5 million as compared to PLN 668.1 million for the same period last year. Net commission income was PLN 289.6 million as compared to PLN 253.9 million for the same period last year. Net income on basic activities was PLN 1,134.5 million as compared to PLN 975.6 million for the same period last year. Net profit attributable to shareholders of the company was PLN 300.2 million as compared to PLN 259.2 million for the same period last year. Earnings per ordinary share were PLN 2.31 as compared to PLN 1.99 for the same period last year. Net cash flow from operating activities was PLN 532.6 million as compared to net cash flow used in operating activities of PLN 250.7 million for the same period last year. Purchase of property plant and equipment was PLN 18.7 million as compared to PLN 12.1 million for the same period last year. Purchase of intangible assets was PLN 6.9 million as compared to PLN 15.0 million for the same period last year. Result before tax was PLN 413.8 million against PLN 337.4 million a year ago. Return on assets was 1.1% against 1.0% a year ago. Return on equity was 12.0% against 10.9% a year ago.
For the period, the standalone company reported net interest income of PLN 784.0 million as compared to PLN 637.5 million for the same period last year. Net commission income was PLN 277.7 million as compared to PLN 239.3 million for the same period last year. Net income on basic activities was PLN 1,090.6 million as compared to PLN 928.4 million for the same period last year. Net profit was PLN 280.0 million as compared to PLN 253.7 million for the same period last year. Earnings per ordinary share were PLN 2.15 as compared to PLN 1.95 for the same period last year. Net cash flow from operating activities was PLN 488.3 million as compared to net cash flow used in operating activities of PLN 332.6 million for the same period last year. Purchase of property plant and equipment was PLN 18.5 million as compared to PLN 12.1 million for the same period last year. Purchase of intangible assets was PLN 6.1 million as compared to PLN 14.8 million for the same period last year. Result before tax was PLN 388.1 million against PLN 327.9 million a year ago.
ING Bank Slaski SA is a Poland-based commercial Bank. The Bank divides its business into two segments: Retail Banking segment and Corporate Banking segment. Its offer includes currents accounts, savings, credits and loans credit and paying cards, insurances, electronic banking, broker activities and fund management and other activities connected with finance, insurance and pension funds. As of December 31, 2012, the Bankâs subsidiaries and affiliated entities were ING Securities SA, Centrum Banku Slaskiego Sp. z o.o., ING ABL Polska SA, ING Uslugi dla Biznesu SA, Solver Sp. z o.o. and ING Powszechte Towarzystwo Emerytalne SA. The Bankâs major shareholder was ING Bank NV, with a 75% stake of its capital.
ING BANK SLASKI S.A. 
