ING Bank Slaski S.A. Reports Group Earnings Results for the Fourth Quarter and Year Ended December 31, 2017
January 31, 2018 at 03:18 am EST
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ING Bank Slaski S.A. reported Group earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported net interest income of PLN 904.5 million compared with PLN 809.5 million a year ago. Net interest income held a double-digit annual growth rate, up 2.4% from third quarter, seemingly driven first by volume gains, albeit slowed, then fractional gains in NIM. Fourth quarter NIM raised 0.02 pps to 3.01% on a rise on asset profitability with funding costs long since flat at 0.8%. Net commission income was PLN 297.1 million compared with PLN 283.5 million a year ago. Net income on basic activities was PLN 1,222.2 million compared with PLN 1,122.0 million a year ago. Result before tax was PLN 500.0 million compared with PLN 348.6 million a year ago. Net profit attributable to shareholders of bank was PLN 366.8 million or PLN 2.82 per share compared with PLN 254.9 million or PLN 1.96 per share a year ago.
For the year, the company reported net interest income of PLN 3,452.8 million compared with PLN 2,953.4 million a year ago. Net commission income was PLN 1,182.8 million compared with PLN 1,064.8 million a year ago. Net income on basic activities was PLN 4,755.9 million compared with PLN 4,324.5 million a year ago. Result before tax was PLN 1,882.0 million compared with PLN 1,644.5 million a year ago. Net profit attributable to shareholders of bank was PLN 1,403.1 million or PLN 10.78 per share compared with PLN 1,253.0 million or PLN 9.63 per share a year ago. Return on assets was 1.2% compared with 1.1% a year ago. Return on equity was 12.6% compared with 11.7% 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. 
