DOCSLIB.ORG

Report of the Management Board

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Report of the Management Board REPORT OF THE MANAGEMENT BOARD ON THE ACTIVITIES OF THE CAPITAL GROUP OF ALIOR BANK S.A. IN H1 2021 This version of our report is a translation from the original, which was prepared in Polish language. All possible care has been taken to ensure that the translation is an accurateAlior Bank representation Group Management of the original.Board’s ReportHowever, for inoperations all matters in H1 of interpretation2021 of information,1 views or opinions, the original language version of our report takes precedence over this translatio n. Table of Contents I. Summary of activities of Alior Bank in H1 2021 ....................................................................................................................... 4 New “More than a Bank” strategy....................................................................................................................................................... 4 Activities implementation ....................................................................................................................................................................... 7 Basic financial data for H1 2021 ....................................................................................................................................................... 10 Distribution network and headcount ............................................................................................................................................. 11 Assessment of activities pursued by the Alior Bank Capital Group ................................................................................... 11 II. External environment of the Bank’s operations .................................................................................................................... 13 Poland’s economic growth ................................................................................................................................................................. 13 Key structural and financial figures for the Polish banking sector in H1 2021 .............................................................. 19 Key structural figures............................................................................................................................................................................. 19 Key income statement items .............................................................................................................................................................. 20 Loans and deposits ................................................................................................................................................................................ 21 Equity and capital ratios ....................................................................................................................................................................... 22 III. Financial results of the Alior Bank S.A. Capital Group ...................................................................................................... 23 Income statement ................................................................................................................................................................................... 23 Net expected credit losses .................................................................................................................................................................. 27 Net impairment charges on non-financial assets ...................................................................................................................... 28 Balance sheet ............................................................................................................................................................................................ 28 Contingent liabilities .............................................................................................................................................................................. 33 Financial projections .............................................................................................................................................................................. 35 Factors affecting Alior Bank’s operations in subsequent quarters .................................................................................... 35 IV. Impact of COVID-19 on the operations of Alior Bank ..................................................................................................... 37 Impact of COVID-19 on the pursuit of the Bank’s business strategy ................................................................................ 37 Impact of COVID-19 on financial results ....................................................................................................................................... 38 Impact of COVID-19 on the operations of the Bank outlets................................................................................................. 38 Impact of COVID-19 on the quality of the credit portfolio ................................................................................................... 39 V. Business activities pursued by Alior Bank .............................................................................................................................. 42 Activities pursued by Alior Bank S.A. .............................................................................................................................................. 42 Retail segment ......................................................................................................................................................................................... 42 Business segment ................................................................................................................................................................................... 56 Treasury activity ....................................................................................................................................................................................... 66 Equity investments ................................................................................................................................................................................. 69 Internet and mobile Banking ............................................................................................................................................................. 70 Strategic partnerships ........................................................................................................................................................................... 72 VI. Activity of companies from the Alior Bank Capital Group ............................................................................................. 77 VII. Major events in the activity of the Alior Bank S.A. Capital Group .............................................................................. 83 Major events post balance-sheet date .......................................................................................................................................... 84 VIII. Issues of bonds and Banking Securities of Alior Bank .................................................................................................... 85 IX. Alior Bank’s risk report ................................................................................................................................................................... 87 Credit risk ................................................................................................................................................................................................... 88 Alior Bank Group Management Board’s Report for operations in H1 2021 2 Operational risk ....................................................................................................................................................................................... 96 Market and liquidity risks .................................................................................................................................................................... 97 Market risk ................................................................................................................................................................................................. 98 Liquidity risk .............................................................................................................................................................................................. 99 Interest rate risk ..................................................................................................................................................................................... 102 Currency risk ........................................................................................................................................................................................... 103 Model risk ................................................................................................................................................................................................ 105 Capital management (ICAAP) .......................................................................................................................................................... 105 X. Internal control system .................................................................................................................................................................
Load more

Recommended publications
  • Raport Odpowiedzialny Biznes W Polsce. Dobre Praktyki
    Koordynatorka wydania: Ewa Albińska Nadzór merytoryczny: Mirella Panek-Owsiańska Redakcja: Ewa Albińska Magdalena Andrejczuk Agnieszka Gajek Marcin Grzybek Tysiące pracodawców Agnieszka Siarkiewicz Współpraca: z całej Europy Natalia Ćwik Justyna Januszewska Marta Krawcewicz podpisało już Kartę! Renata Putkowska Piotr Sobolewski Dołącz do tego grona! Karolina Szlasa Tłumaczenie: Promuj różnorodność Biuro tłumaczeń KONTEKST Redakcja i korekta: w swoim miejscu pracy! Beata Stadryniak-Saracyn Monitoring rynku: Podpisz Kartę Różnorodności! zespół Forum Odpowiedzialnego Biznesu Monitoring mediów: na podstawie materiałów dostarczonych przez Źródło materiałów: materiały własne firm Kalendarium: na bazie informacji z portali odpowiedzialnybiznes.pl kampaniespoleczne.pl Publikacja udostępniona jest na licencji: Uznanie autorstwa-Użycie niekomercyjne 3.0 Polska (CC BY-NC 3.0 PL). Prawa do zdjęć, grafiki i logo są zastrzeżone. Treść licencji jest dostępna Więcej: na stronie: http://creativecommons.org/licenses/ www.kartaroznorodnosci.pl by-nc-sa/3.0/pl Wydawca: Forum Odpowiedzialnego Biznesu ul. Szpitalna 5/5, 00-031 Warszawa koordynator karty różnorodności w polsce tel.: +48 22 627 18 71, fax: +48 22 627 18 72 e-mail: [email protected] www.odpowiedzialnybiznes.pl Opracowanie graficzne i skład: Olga Figurska, www.lunatikot.pl patronat honorowy Druk: Libra Print, www.libra-print.pl Inicjatywa promowana przez Komisję Europejską Fotokod, zamieszczony na okładce, został wygenerowany na stronie Podpisanie Karty w Polsce jest bezpłatne i dobrowolne www.koddlaciebie.pl należącej do SUPERMEDIA Interactive. SPIS TREŚCI Słowo wstępne Mirella Panek- Owsiańska . 3 Koniec świata odwołany Natalia Ćwik . 4 oo Konferencja Rio+20 Beata Jaczewska . 6 ACTA Jarosław Lipszyc, Marcin Drabek . 7 Nieistniejące słowo roku Krzysztof Grabowski . 8 Efektywność zarządzania różnorodnością Maria Hegarty . 9 Równe traktowanie standardem dobrego rządzenia Agnieszka Kozłowska-Rajewicz .
    [Show full text]
  • Rap2012 ANG.Indd
    Copyright by Forum Odpowiedzialnego Biznesu, Warszawa 2012. Responsible Business Forum ul. Szpitalna 5/5 00-031 Warszawa tel. +48 (22) 627 18 71 tel/fax: +48 (22) 627 18 72 [email protected] www.responsiblebusiness.pl For more information about Report mail us at: [email protected] “Responsible business in Poland 2012. Good practices” Report is a summary of the activities undertaken by companies, institutions and non-governmental organizations in the domain of corporate social responsibility and sustainable development. Report is an abstract of all the events that took place last year in Poland, in regard to these issues. A core element of the publication are corporate good practices – this year Report contains 262 good practices from areas in according to ISO 26000 standard: Organizational governance, Human rights, Labour practices, The environment, Fair operating practices, Consumer issues, Community involvement and development. They are inspiring examples of principles of responsibility application in all sections of business – in the workplace, towards market, society, and environment. In addition, the Report contains articles and experts’ statements, analysis, opinions and review of last year events, research results review, and press publications overview. CONTENTS Foreword Mirella Panek- Owsiańska ............................................. 3 End of the world cancelled Natalia Ćwik ......................................................... 4 oo Rio+20 Beata Jaczewska ...................................................... 6 ACTA Jarosław
    [Show full text]
  • Management Board's Report on Operations Of
    Asseco Group Annual Report for the year ended December 31, 2019 Present in Sales revenues 56 countries 10 667 mPLN 26 843 Net profit attributable highly commited to the parent employees company's shareholders 322.4 mPLN Order backlog for 2020 5.3 bPLN 7 601 mPLN market capitalization 1) 1) As at December 30, 2019 Asseco Group in 2019 non-IFRS measures (unaudited data) Non-IFRS figures presented below have not been audited or reviewed by an independent auditor. Non-IFRS figures are not financial data in accordance with EU IFRS. Non-IFRS data are not uniformly defined or calculated by other entities, and consequently they may not be comparable to data presented by other entities, including those operating in the same sector as the Asseco Group. Such financial information should be analyzed only as additional information and not as a replacement for financial information prepared in accordance with EU IFRS. Non-IFRS data should not be assigned a higher level of significance than measures directly resulting from the Consolidated Financial Statements. Financial and operational summary: • Dynamic organic growth and through acquisitions – increase in revenues by 14.4% to 10 667.4 mPLN and in operating profit by 22.5% to 976.2 mPLN (1 204.4 mPLN EBIT non-IFRS – increase by 14.9%) • International markets are the Group’s growth engine – 89% of revenues generated on these markets • Double-digit increase in sales in the Formula Systems and Asseco International segments • 81% of revenues from the sales of proprietary software and services • Strong business diversification (geographical, sectoral, product) Selected consolidated financial data for 2019 on a non-IFRS basis For the assessment of the financial position and business development of the Asseco Group, the basic data published on a non-IFRS basis constitute an important piece of information.
    [Show full text]
  • Dariusz Szwed (Biuro Wspierania Lobbingu Ekologicznego)
    INSTYTUT NA RZECZ EKOROZWOJU Raport 1/2002 Rola organizacji pozarządowych w kształtowaniu proekologicznych wzorców konsumpcji Projekt dofinansowany przez Narodowy Fundusz Ochrony Środowiska i Gospodarki Wodnej Projekt pod kierunkiem Jolanty Kamienieckiej Warszawa, 2002 r. Instytut na rzecz Ekorozwoju (InE) jest pozarządową organizacją “non profit” o statusie fundacji, mającą na celu propagowanie, rozwijanie i wdrażanie do praktyki zasad i metod rozwoju zrównoważonego (ekorozwoju). InE powstał i działa dzięki pomocy finansowej German Marshall Fund of the United States, Ford Foundation i Rockefeller Brothers Fund, a od 1995 roku również Charles Stewart Mott Foundation. W swojej działalności skupia się na zagadnieniach ekonomicznych, prawnych, społecznych i politycznych – w powiązaniu z ochroną środowiska; współpracuje z Sejmem, Senatem, administracją pań- stwową i samorządową oraz z organizacjami ekologicznymi. Instytucje i osoby pragnące wesprzeć działalność Instytutu mogą dokonywać wpłat na rzecz Fundacji Instytut na rzecz Ekorozwoju w Banku Polska Kasa Opieki SA, II Oddział w Warszawie, nr konta dla wpłat w złotówkach: 12401024-21016572-2700-401112-001, nr konta dla wpłat w dewizach: 12401024-21016572-2700-457872-001. The Institute for Sustainable Development (ISD) is an independent, non-governmental and non-profit organisation, whose main target of activity is implementation and dissemi- nation of the sustainable development concept in Poland. The Institute has been esta- blished – and carried out its operations – thanks to donations of the German Marshall Fund of the United States, the Ford Foundation and the Rockefeller Brothers Fund, and, since 1995, also the Charles Steward Mott Foundation. It focuses on economic, legal, so- cial and political issues in connection with environmental protection; collaborates with Polish parliament, with state administration as well as local governments and non- governmental ecological movements.
    [Show full text]
  • The Mismatch Between the Maturity Structure of Bank Assets and Liabilities in Polish Listed Banks and the Polish Banking Sector: an Empirical Study
    PRACE NAUKOWE UNIWERSYTETU EKONOMICZNEGO WE WROCŁAWIU RESEARCH PAPERS OF WROCLAW UNIVERSITY OF ECONOMICS AND BUSINESS 2020, vol. 64, nr 9 ISSN 1899-3192 e-ISSN 2392-0041 Ivanna Chaikovska Jagiellonian University in Krakow e-mail: [email protected], [email protected] ORCID: 0000-0002-9425-2852 THE MISMATCH BETWEEN THE MATURITY STRUCTURE OF BANK ASSETS AND LIABILITIES IN POLISH LISTED BANKS AND THE POLISH BANKING SECTOR: AN EMPIRICAL STUDY DOI: 10.15611/pn.2020.9.02 JEL Classification: G21; G28; G32; K22. © 2020 Ivanna Chaikovska This work is licensed under the Creative Commons Attribution-ShareAlike 4.0 International License. To view a copy of this license, visit http://creativecommons.org/licenses/by-sa/4.0/ Quote as: Chaikovska, I. (2020). The mismatch between the maturity structure of bank assets and liabilities in Polish listed banks and the Polish banking sector: An empirical study. Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu, 64(9). Abstract: The purpose of the article is to identify the problem of the mismatch between the maturity structure of assets and liabilities of the Polish banking sector and Polish listed banks. The article analyzes the maturity balance sheet structure of the Polish banking sector in 2010 and 2019 and Polish listed banks in 2019. The results of this analysis indicate a significant mismatch in the maturity structure of assets and liabilities of Polish banks and the need for a significant reconstruction of the structure of liabilities in the direction of their extension. Furthermore, the results of the analysis identify the most and the least secure Polish listed banks in terms of mismatches in the maturity balance sheet structure, as well as banks with opposite trends in the maturity structure compared to the Polish banking sector.
    [Show full text]
  • Winter in Prague Tuesday 5 December to Friday 8 December 2017
    emerging europe conference Winter in Prague Tuesday 5 December to Friday 8 December 2017 Our 2017 event held over 4 informative and jam-packed days, will continue the success of the previous five years and host almost 3,000 investor meetings, with over 160 companies representing 17 countries, covering multiple sectors. For more information please contact your WOOD sales representative: WOOD & Company Save Warsaw +48 222 22 1530 the Date! Prague +420 222 096 452 conferences 2017 London +44 20 3530 0611 [email protected] Participating companies in 2016 - by country Participating companies in 2016 - by sector Austria Hungary Romania Turkey Consumer Financials Healthcare TMT Atrium ANY Banca Transilvania Anadolu Efes Aegean Airlines Alior Bank Georgia Healthcare Group Asseco Poland AT&S Budapest Stock Exchange Bucharest Stock Exchange Arcelik AmRest Alpha Bank Krka AT&S CA Immobilien Magyar Telekom Conpet Bizim Toptan Anadolu Efes Athex Group (Hellenic Exchanges) Lokman Hekim CME Conwert MOL Group Electrica Cimsa Arcelik Banca Transilvania Cyfrowy Polsat S.A. Erste Bank OTP Bank Fondul Proprietatea Coca-Cola Icecek Astarta Bank Millennium Industrials Luxoft Immofinanz Wizz Air Hidroelectrica Dogan Holding Atlantic Grupa BGEO Aeroflot Magyar Telekom PORR Nuclearelectrica Dogus Otomotiv Bizim Toptan Bank Zachodni WBK Cimsa O2 Czech Republic RHI Kazakhstan OMV Petrom Ford Otosan CCC Bucharest Stock Exchange Ciech Orange Polska Uniqa Insurance Group Steppe Cement Romgaz Garanti Coca-Cola Icecek Budapest Stock Exchange Dogus Otomotiv OTE Vienna
    [Show full text]
  • Securitizing Energy
    SECURITIZING ENERGY: FROM GEOPOLITICS TO ENERGY DEMOCRACY THE CASE OF GERMANY, POLAND & UKRAINE By Izabela Surwillo Submitted to Central European University Doctoral School of Political Science, Public Policy and International Relations In Partial Fulfilment of the Requirements for the Degree of Doctor of Philosophy Supervisor: Xymena Kurowska CEU eTD Collection Budapest, Hungary 2016 Declaration I hereby declare that this thesis contains no materials accepted for any other degrees in any other institutions. The thesis contains no materials previously written and/or published by another person, except where the appropriate acknowledgment is made in the form of bibliographical reference. Izabela Surwillo May 31, 2016 CEU eTD Collection i ACKNOWLEDGEMENTS Writing this dissertation was one of the most challenging and rewarding tasks that I have undertaken so far. Its successful completion would not have been possible without the help of many people, whom I have encountered during this journey. I would like to thank my supervisor Xymena Kurowska, for her continuous encouragement, critical feedback and strategic advice throughout this experience. Without her support from the very beginning of the project, writing and completing this research would not have been possible. I am grateful to Paul Roe and Matteo Fumagalli for all of their comments, suggestions and critiques over the years, which helped me to steer my research toward the right path and not to lose the larger picture of the phenomenon studied. I am thankful to Felix Ciută for academic inspiration in the initial stages of my project. I am also grateful to Olexiy Haran for facilitating my interviews and for providing academic support during my research stay in Kyiv.
    [Show full text]
  • OA S.A. Fee Regulations
    Fee Regulations of the Online Arbitration S.A. 0 Fee Regulations (Appendix No. 1 to the Terms and Conditions for Provision of Electronic Services by Online Arbitration S.A. and Appendix No. 1 to the Terms and Conditions for Arbitrators of the Online Arbitration Court) § 1 List of Fees 1. The Administrator will collect the following fees: a) registration fee for opening User account in the Application, b) fee for proceedings before the Court, consisting of: administrative fee and arbitration fee in a 1:3 proportion, c) fee for the set-off claim, d) fee for issuing an additional copy of the ruling, e) fee for access to archived minutes from a closed case, f) fee for expert opinion. 2. The fees are to be paid to Administrator’s bank account, by bank transfer or through the online payment system in the Application. The payment system is provided by eCard S.A. § 2 Amounts of Fees for Proceedings before the Court and of the Fee for the Set-off Claim. 1. The base rate of the fee for proceedings before the Court will be calculated accordingly to the value of the dispute, i.e.: a) up to 2 200 EUR: 276 EUR, b) from 2 201 EUR to 4 500 EUR: 133 EUR and 6,5% of the value of the dispute (not less than 143 EUR), c) from 4 501 EUR to 11 500 EUR: 430 EUR and 4,0% of the amount over 4 500 EUR, d) from 11 501 EUR to 23 200 EUR: 444 EUR and 3,8% of the amount over 4 500 EUR, e) from 23 201 EUR to 232 500 EUR: 1155 EUR and 2% of the amount over 23 200 EUR, f) from 232 501 EUR to 2 325 600 EUR: 5341 EUR and 0,27% of the amount over 232 1 500 EUR, g) from 2 325 601 EUR: 10 922 EUR and 0,3% of the amount over 2 325 600 EUR.
    [Show full text]
  • Towards Sustainability in E-Banking Website Assessment Methods
    sustainability Article Towards Sustainability in E-Banking Website Assessment Methods Witold Chmielarz and Marek Zborowski * Faculty of Management, University of Warsaw, Krakowskie Przedmie´scie26/28, 00-927 Warsaw, Poland; [email protected] * Correspondence: [email protected] Received: 23 June 2020; Accepted: 24 August 2020; Published: 27 August 2020 Abstract: Nowadays, banking services have evolved from offline financial services to online platforms available in the form of websites and mobile applications. While multiple methods exist for evaluation of generic-purpose websites, the appraisal of banking services requires a more sophisticated approach. Multiple factors need to be taken into consideration, revolving not only around technical and usability aspects of the sites, but also considering the economic and anti-crisis factors. Moreover, due to the fact that one of the groups of people interested in banking services assessment are potential clients, which might or might not be technically and theoretically literate, a sustainable approach to banking services evaluation is needed. The main contribution of this paper is a sustainable approach balancing the evaluation accuracy with usage simplicity and computational complexity of evaluation methods. Also, a reference model for banking services evaluation is provided. In practical terms, a set of all significant commercial banking services in Poland is assessed. Last, but not least, a preliminary study of practical applicability of various evaluation methods amongst computer-literate banking clients is performed. Keywords: internet banking; website evaluations; multi-criteria evaluation methods 1. Introduction One of the most important problems associated with bank management at present is how to maintain the existing clients and how to acquire new ones.
    [Show full text]
  • Report of Alior Bank S.A. Group on Non-Financial Information for 2019
    REPORT OF ALIOR BANK S.A. GROUP ON NON-FINANCIAL INFORMATION FOR 2019 1 Table of content 1. Alior Bank Group and its parent company – Alior Bank S.A. ................................................................................................................. 3 1.1. Who we are .......................................................................................................................................................................................................... 3 1.2. Our business strategy ...................................................................................................................................................................................... 5 1.3. Our relations ..................................................................................................................................................................................................... 11 1.5 Alior Bank Group companies ...................................................................................................................................................................... 18 1.6. Our awards ........................................................................................................................................................................................................ 23 2. Foundations of our activity .................................................................................................................................................................. 27 2.1. Ethics – rules of
    [Show full text]
  • PDF-Xchange 4.0 Examples
    Management Board’s report on the activity 2019 of the PZU Group in H1 WorldReginfo - 35b8e694-a22f-4240-a5d1-0f41a928a85b WorldReginfo - 35b8e694-a22f-4240-a5d1-0f41a928a85b Table of Contents CEO Letter to Shareholders 6 05 Financial results 67 5.1 Major factors contributing to the consolidated financial result 68 01 PZU Group Overview 11 5.2 PZU Group’s income 70 02 External environment 23 5.3 PZU Group’s claims paid and technical provisions 73 2.1 Main trends in the Polish economy 24 5.4 PZU Group’s acquisition and administrative expenses 73 2.2 External environment in the Baltic States and Ukraine 25 5.5 Drivers and atypical events affecting the results 74 2.3 Situation on financial markets 26 5.6 PZU Group’s asset and liability structure 74 2.4 External factors that may affect the conditions of operations and the PZU Group’s activities 5.7 Contribution to the consolidated result made by industry segments 76 in H2 2019 28 06 Risk management 87 03 PZU Group’s operations 33 6.1 Objective of risk management 88 3.1 Structure of the PZU Group 34 6.2 Risk management system 88 3.2 Non-life insurance (PZU, LINK4 and TUW PZUW) 35 6.3 Risk appetite 90 3.3 Life insurance (PZU Życie) 40 6.4 Risk management process 90 3.4 Banking (Bank Pekao, Alior Bank) 44 6.5 PZU Group’s risk profile 92 3.5 Mutual funds (TFI PZU) 47 6.6 Reinsurance operations 99 3.6 International operations 49 6.7 Capital management 100 3.7 Medical services (Health) 51 3.8 Pension funds (PTE PZU) 52 07 PZU on the capital and debt markets 103 7.1 PZU’s share price 104 3.9 Other
    [Show full text]
  • 2017-Program-ANG Int-LIGHT.Pdf
    ��������� �������������������� ��������������������� ������������������� ���������������������� ���������������������� ���������������������������������������������������������������������������������������������������� ������������������������������������������������������ T I E � �� J C C H � A N K O I L � F O Y G R I A I I T ME H DYCZNYC ���������������������� ���������������������� ���������������������������������������������������������������������������������������������������� ������������������������������������������������������ T I E � �� J C C H � A N K O I L � F O Y G R I A I I T ME H DYCZNYC ���������������������� ���������������������� ��������������������������������������������������������������������������������������������������� ���������������������������������������������������������������� ���� ���� �������������� ��� ������ ���������������������� ���������������������� ��������������������������������������������������������������������������������������������������� ���������������������������������������������������������������� ���� ���� �������������� ��� ������ ���������������������� ���������������������� �������������������������������������������������������������������������������������������� ����������������������������������������������������������������������������� ���������������������� ���������������������������������������������������������������������� ��������������������������������������������������������������������������������������������������� �������������������������������������������������������
    [Show full text]