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Bank Handlowy

BH's net profit rose 206% yoy to PLN 479 mil in 4Q2022

By Helgi Analytics - March 13, 2023

Bank Handlowy made a net profit of PLN 479 mil in the fourth quarter of 2022, up 206% when compared to the same period of last ye...

BH's customer deposits rose 11.6% yoy to PLN 50,347 mil in 3Q2022

By Helgi Analytics - March 13, 2023

Bank Handlowy's customer deposits reached PLN 50,347 mil in 2022-09-30, up 9.49% compared to the previous year. Polish banking ...

Bank Handlowy - Quarterly Interest Margin & Yields

By Helgi Analytics - March 13, 2023

Bank Handlowy's net interest margin amounted to 1.46% in the fourth quarter of 2020, up from 1.41% when compared to the previous...

Annual Quarterly
Profit Statement 2018 2019 2020
Net Interest Income PLN mil 1,117 1,165 1,013
Net Fee Income PLN mil 550 565 560
Other Income PLN mil 611 604 580
Total Revenues PLN mil 2,278 2,334 2,154
Staff Cost PLN mil 530 521 531
Operating Profit PLN mil 1,084 1,059 939
Provisions PLN mil 75.1 213 198
Net Profit PLN mil 642 481 347
Balance Sheet 2018 2019 2020
Interbank Loans PLN mil 1,334 1,166 570
Customer Loans PLN mil 21,949 23,732 21,914
Investments PLN mil 16,527 19,469 31,753
Total Assets PLN mil 49,305 51,979 60,942
Shareholders' Equity PLN mil 7,057 7,075 7,581
Interbank Borrowing PLN mil 1,754 2,374 8,775
Customer Deposits PLN mil 38,334 39,788 43,394
Issued Debt Securities PLN mil 0 143 ...
Ratios 2018 2019 2020
ROE % 9.18 6.81 4.73
ROA % 1.39 0.951 0.614
Costs (As % Of Assets) % 2.59 2.52 2.15
Costs (As % Of Income) % 52.4 54.6 56.4
Capital Adequacy Ratio % 16.8 17.2 22.0
Net Interest Margin % 2.42 2.30 1.80
Loans (As % Of Deposits) % 57.3 59.6 50.5
NPLs (As % Of Loans) % 3.21 3.41 3.70
Provisions (As % Of NPLs) % 91.8 83.0 100
Valuation 2018 2019 2020
Market Capitalisation USD mil 2,411 1,786 1,229
Number Of Shares mil 131 131 131
Share Price PLN 69.1 51.8 35.2
Price/Earnings (P/E) 14.1 14.1 13.2
Price/Book Value (P/BV) 1.28 0.957 0.606
Dividend Yield % 7.24 7.22 9.84
Earnings Per Share (EPS) PLN 4.92 3.68 2.65
Book Value Per Share PLN 54.0 54.1 58.0
Dividend Per Share PLN 5.00 3.74 3.46

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summary Unit 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
income statement                                                  
Net Interest Income PLN mil                 ...                   1,170 984 1,012 1,092 1,117    
Total Revenues PLN mil                 ...                   2,555 2,193 2,093 2,184 2,278    
Operating Profit PLN mil                 ...                   1,255 963 899 975 1,084    
Net Profit PLN mil                 ...                   933 687 524 531 642    
balance sheet                                                  
Interbank Loans PLN mil                 ...                   2,066 757 2,277 837 1,334    
Customer Loans PLN mil                 ...                   16,771 18,976 17,170 19,849 21,949    
Investments PLN mil                 ...                   27,165 25,406 22,877 19,646 16,527    
Total Assets PLN mil                 ...                   49,844 49,507 45,210 43,038 49,305    
                                                     
Shareholders' Equity PLN mil                 ...                   7,411 6,851 6,790 6,939 7,057    
Interbank Borrowing PLN mil                 ...                   11,894 10,400 8,430 2,922 1,754    
Customer Deposits PLN mil                 ...                   29,633 31,398 29,123 32,137 38,334    
Issued Debt Securities PLN mil                 ... ...     ...           0 0 0 0 0   ...
ratios                                                  
ROE % ...               ... ...                 12.7 9.63 7.68 7.74 9.18    
ROA % ...               ... ...                 1.96 1.38 1.11 1.20 1.39    
Costs (As % Of Assets) % ...               ... ...                 2.73 2.48 2.52 2.74 2.59    
Costs (As % Of Income) %                 ...                   50.9 56.1 57.1 55.4 52.4    
Capital Adequacy Ratio % ... ...             ...                   17.5 17.1 17.4 17.9 16.8    
Net Interest Margin % ...               ... ...                 2.46 1.98 2.14 2.47 2.42    
Interest Income (As % Of Revenues) %                 ...                   45.8 44.9 48.3 50.0 49.0    
Fee Income (As % Of Revenues) %                 ...                   24.2 28.8 26.8 26.6 24.1    
Staff Cost (As % Of Total Cost) % ... ...             ... ...                 44.6 46.0 46.3 43.9 44.4    
Equity (As % Of Assets) %                 ...                   14.9 13.8 15.0 16.1 14.3    
Loans (As % Of Deposits) %                 ...                   56.6 60.4 59.0 61.8 57.3    
Loans (As % Assets) %                 ...                   33.6 38.3 38.0 46.1 44.5    
NPLs (As % Of Loans) % ... ...             ... ...                 5.67 3.58 3.57 3.54 3.21    
Provisions (As % Of NPLs) % ... ...             ... ...                 78.3 81.2 86.2 81.3 91.8    
valuation                                                  
Market Capitalisation USD mil ...               ...                   3,948 2,391 2,390 3,080 2,411    
Number Of Shares mil ...             ... ...                   131 131 131 131 131    
Share Price PLN ...               ...                   107 71.9 76.4 81.9 69.1    
Earnings Per Share (EPS) PLN ...             ... ...                   7.14 5.26 4.01 4.07 4.92    
Book Value Per Share PLN ...             ... ...                   56.7 52.4 52.0 53.1 54.0    
Dividend Per Share PLN                 ... ...                 7.43 4.68 4.53 4.11 5.00    
Price/Earnings (P/E) ...             ... ...                   15.0 13.7 19.1 20.1 14.1    
Price/Book Value (P/BV) ...             ... ...                   1.89 1.37 1.47 1.54 1.28    
Dividend Yield % ...               ... ...                 6.95 6.51 5.93 5.02 7.24    
Earnings Per Share Growth % ... ...           ... ... ...                 -5.73 -26.4 -23.7 1.41 20.9    
Book Value Per Share Growth % ... ...           ... ... ...                 1.42 -7.56 -0.879 2.19 1.70    
income statement Unit 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
income statement                                                  
Interest Income PLN mil                 ...                   1,495 1,240 1,267 1,361 1,314    
Interest Cost PLN mil                 ...                   325 256 255 269 197    
Net Interest Income PLN mil                 ...                   1,170 984 1,012 1,092 1,117    
Net Fee Income PLN mil                 ...                   619 631 561 581 550    
Fee Income PLN mil                 ...                   726 709 639 665 639    
Fee Expense PLN mil                 ...                   107 78.1 78.1 83.9 89.0    
Other Income PLN mil                 ...                   767 578 520 512 611    
Total Revenues PLN mil                 ...                   2,555 2,193 2,093 2,184 2,278    
Staff Cost PLN mil ... ...             ... ...                 580 566 553 531 530    
Depreciation PLN mil ... ... ... ... ... ... ... ... ... ... ... ... ...           35.8 35.9 32.2 29.7 28.8   ...
Other Cost PLN mil ... ... ... ... ... ... ... ... ... ... ... ... ...           685 629 609 648 636   ...
Operating Cost PLN mil                 ...                   1,300 1,230 1,194 1,209 1,194    
Operating Profit PLN mil                 ...                   1,255 963 899 975 1,084    
Provisions PLN mil                 ...                   -2.72 19.6 83.0 112 75.1    
Extra and Other Cost PLN mil                 ...                   107 78.0 147 161 176    
Pre-Tax Profit PLN mil                 ...                   1,150 865 668 702 833    
Tax PLN mil                 ...                   217 179 145 170 191    
Minorities PLN mil                 ...                   0 0 0 0 0    
Net Profit PLN mil                 ...                   933 687 524 531 642    
Net Profit Avail. to Common PLN mil                 ...                   933 687 524 531 642    
Dividends PLN mil                 ... ...                 971 611 592 537 653    
growth rates                                                  
Net Interest Income Growth % ...               ... ...                 -6.16 -15.9 2.81 7.90 2.34    
Net Fee Income Growth % ...               ... ...                 -3.64 2.01 -11.1 3.46 -5.29    
Total Revenue Growth % ...               ... ...                 -6.98 -14.2 -4.59 4.37 4.32    
Operating Cost Growth % ...               ... ...                 -7.55 -5.40 -2.95 1.29 -1.28    
Operating Profit Growth % ...               ... ...                 -6.38 -23.3 -6.68 8.45 11.3    
Pre-Tax Profit Growth % ...               ... ...                 -7.19 -24.8 -22.8 4.99 18.7    
Net Profit Growth % ...               ... ...                 -5.73 -26.4 -23.7 1.41 20.9    
market share                                                  
Market Share in Revenues %                 ...                   4.43 3.92 3.53 3.54 3.54    
Market Share in Net Profit %                 ...                   5.88 6.14 3.76 3.91 4.92    
Market Share in Employees %     ...   ...   ... ... ... ...                 2.42 2.33 2.16 2.17 2.02    
Market Share in Bank Cards % ... ... ... ... ... ... ... ... ... ... ... ... ... ...         4.75 4.56 2.57 2.44 2.24   ...
Market Share in Debit Cards % ... ... ... ... ... ... ... ... ... ... ... ... ... ...         1.03 0.941 0.801 0.755 0.695   ...
Market Share in Credit Cards % ... ... ... ... ... ...                         23.1 22.9 11.9 12.1 11.6   ...
Market Share in Branches % ... ... ... ... ... ... ... ... ... ... ... ...             0.361 0.380 0.222 0.288 0.252   ...
balance sheet Unit 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
balance sheet                                                  
Cash & Cash Equivalents PLN mil                 ...                   1,523 2,170 666 462 7,272    
Interbank Loans PLN mil                 ...                   2,066 757 2,277 837 1,334    
Customer Loans PLN mil                 ...                   16,771 18,976 17,170 19,849 21,949    
Retail Loans PLN mil   ... ... ... ... ... ... ... ... ... ...   ... ... ... ... ... ... ... ... ... 7,093 7,535    
Corporate Loans PLN mil   ... ... ... ... ... ... ... ... ... ...   ... ... ... ... ... ... ... ... ... 11,332 12,876    
Investments PLN mil                 ...                   27,165 25,406 22,877 19,646 16,527    
Property and Equipment PLN mil                 ...                   367 354 343 377 364    
Intangible Assets PLN mil ... ...             ...                   1,388 1,372 1,351 1,352 1,419    
Goodwill PLN mil ... ... ... ... ... ... ... ... ... ... ... ... ...           1,246 1,246 1,246 1,246 1,246   ...
Total Assets PLN mil                 ...                   49,844 49,507 45,210 43,038 49,305    
                                                     
Shareholders' Equity PLN mil                 ...                   7,411 6,851 6,790 6,939 7,057    
Of Which Minority Interest PLN mil                 ...                   0 0 0 0 0    
Liabilities PLN mil                 ...                   42,433 42,656 38,420 36,099 42,248    
Interbank Borrowing PLN mil                 ...                   11,894 10,400 8,430 2,922 1,754    
Customer Deposits PLN mil                 ...                   29,633 31,398 29,123 32,137 38,334    
Sight Deposits PLN mil                 ... ...                 19,537 20,421 22,302 22,661 25,692    
Term Deposits PLN mil                 ... ...                 9,963 10,854 6,821 9,284 12,405    
Issued Debt Securities PLN mil                 ... ...     ...           0 0 0 0 0   ...
Other Liabilities PLN mil                 ... ...     ...           907 859 867 1,040 2,160   ...
asset quality                                                  
Non-Performing Loans PLN mil ... ...             ... ...                 996 700 633 723 726    
Gross Loans PLN mil                 ...                   17,550 19,544 17,715 20,437 22,616    
Risk-Weighted Assets PLN mil ... ... ... ... ... ... ... ... ... ...                 28,209 27,987 27,499 27,882 29,518   ...
Total Provisions PLN mil                 ... ...                 780 568 546 588 667    
growth rates                                                  
Customer Loan Growth % ...               ... ...                 10.1 13.1 -9.52 15.6 10.6    
Retail Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 6.24    
Corporate Loan Growth % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 13.6    
Total Asset Growth % ...               ... ...                 9.79 -0.676 -8.68 -4.80 14.6    
Shareholders' Equity Growth % ...               ... ...                 1.42 -7.56 -0.879 2.19 1.70    
Customer Deposit Growth % ...               ... ...                 13.0 5.96 -7.25 10.3 19.3    
market share                                                  
Market Share in Customer Loans %                 ...                   1.61 1.72 1.48 1.65 1.78    
Market Share in Corporate Loans %   ... ... ... ... ... ... ... ... ... ...   ... ... ... ... ... ... ... ... ... 3.10 3.46    
Market Share in Consumer Loans %   ... ... ... ... ... ... ... ... ... ...   ... ... ... ... ... ... ... ... ... 1.06 1.07    
Market Share in Total Assets %                 ...                   3.25 3.09 2.64 2.42 2.48    
Market Share in Customer Deposits %                 ...                   2.83 2.82 2.40 2.53 3.10    
ratios Unit 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                                                   
ROE % ...               ... ...                 12.7 9.63 7.68 7.74 9.18    
ROTE % ... ... ...           ... ...                 15.7 11.9 9.59 9.63 11.4    
ROE (@ 15% of RWA) % ... ... ... ... ... ... ... ... ... ... ...               22.1 16.3 12.6 12.8 14.9   ...
ROA % ...               ... ...                 1.96 1.38 1.11 1.20 1.39    
Return on Loans % ...               ... ...                 5.83 3.84 2.90 2.87 3.07    
Operating Profit (As % of RWA) % ... ... ... ... ... ... ... ... ... ... ...               4.46 3.43 3.24 3.52 3.78   ...
Costs (As % Of Assets) % ...               ... ...                 2.73 2.48 2.52 2.74 2.59    
Costs (As % Of Income) %                 ...                   50.9 56.1 57.1 55.4 52.4    
Costs (As % Of Loans) % ...               ... ...                 8.13 6.88 6.61 6.53 5.71    
Costs (As % Of Loans & Deposits) % ...               ... ...                 2.96 2.54 2.47 2.46 2.13    
Capital Adequacy Ratio % ... ...             ...                   17.5 17.1 17.4 17.9 16.8    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ...   ... ... ... ... ... ... ... ... 17.5 17.1 17.4 17.9 16.8    
Net Interest Margin % ...               ... ...                 2.46 1.98 2.14 2.47 2.42    
Interest Spread % ...               ... ...                 2.33 1.89 2.05 2.36 2.34    
Asset Yield % ...               ... ...                 3.14 2.50 2.67 3.08 2.85    
Revenues (As % of RWA) % ... ... ... ... ... ... ... ... ... ... ...               9.08 7.81 7.54 7.89 7.94   ...
Cost Of Liabilities % ...               ... ...                 0.808 0.601 0.629 0.723 0.503    
Payout Ratio %                 ... ...                 104 89.0 113 101 102    
Interest Income (As % Of Revenues) %                 ...                   45.8 44.9 48.3 50.0 49.0    
Fee Income (As % Of Revenues) %                 ...                   24.2 28.8 26.8 26.6 24.1    
Other Income (As % Of Revenues) %                 ...                   30.0 26.4 24.8 23.4 26.8    
Staff Cost (As % Of Total Cost) % ... ...             ... ...                 44.6 46.0 46.3 43.9 44.4    
Equity (As % Of Assets) %                 ...                   14.9 13.8 15.0 16.1 14.3    
Equity (As % Of Loans) %                 ...                   44.2 36.1 39.5 35.0 32.2    
Loans (As % Of Deposits) %                 ...                   56.6 60.4 59.0 61.8 57.3    
Loans (As % Assets) %                 ...                   33.6 38.3 38.0 46.1 44.5    
NPLs (As % Of Loans) % ... ...             ... ...                 5.67 3.58 3.57 3.54 3.21    
Provisions (As % Of NPLs) % ... ...             ... ...                 78.3 81.2 86.2 81.3 91.8    
Provisions (As % Of Loans) %                 ... ...                 4.65 2.99 3.18 2.96 3.04    
Cost of Provisions (As % Of Loans) % ...               ... ...                 -0.017 0.110 0.459 0.603 0.359    
other data Unit 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                                                   
Branches ... ... ... ... ... ... ... ... ... ... ... ...             44.0 45.0 25.0 30.0 25.0   ...
Employees     ...   ...   ... ... ... ...                 4,170 3,986 3,640 3,561 3,276    
Employees Per Bank Branch ... ... ... ... ... ... ... ... ... ... ... ...             94.8 88.6 146 119 131   ...
Cost Per Employee USD per month ... ... ...   ...   ... ... ... ...                 3,537 3,179 3,132 3,246 3,720    
Cost Per Employee (Local Currency) PLN per month ... ... ...   ...   ... ... ... ...                 11,591 11,828 12,654 12,434 13,469    
customer breakdown Unit 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
                                                   
Customers mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       1.20 1.32 0.681 0.692 0.687    
Number of Accounts mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0.601    
Payment Cards mil ... ... ... ... ... ... ... ... ... ... ... ... ... ...         1.70 1.61 0.947 0.954 0.926    
Debit Cards mil ... ... ... ... ... ... ... ... ... ... ... ... ... ...         0.306 0.277 0.248 0.251 0.246    
Credit Cards mil ... ... ... ... ... ...                         1.39 1.33 0.699 0.703 0.680    
Average Size of Deposit PLN ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 63,742    
Accounts (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 87.5    
Payments Cards (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       141 121 139 138 135    
Debit Cards (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       25.4 20.9 36.5 36.3 35.8    
Credit Cards (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       116 100 103 102 98.9    
                                                     
Market Value per Customer (Local Currency) PLN ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       11,624 7,055 14,668 15,504 13,185    
Revenue per Customer (Local Currency) PLN ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       2,125 1,659 3,074 3,157 3,314    
Net Profit per Customer (Local Currency) PLN ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       776 519 769 768 934    
Loan per Customer (Local Currency) PLN ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       13,948 14,350 25,218 28,696 31,931    
Deposit per Customer (Local Currency) PLN ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       24,646 23,744 42,775 46,461 55,767    
Market Value per Customer USD ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       3,283 1,808 3,510 4,453 3,507    
Revenue per Customer USD ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       649 446 761 824 915    
Net Profit per Customer USD ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       237 140 190 200 258    
Loan per Customer USD ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       3,940 3,678 6,034 8,243 8,493    
Deposit per Customer USD ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...       6,962 6,087 10,235 13,346 14,833    

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BH's mortgage loans fell 8.92% yoy to PLN 2,169 mil in 3Q2022

By Helgi Analytics - March 13, 2023

Bank Handlowy's mortgage loans reached PLN 2,169 mil in 2022-09-30, down 3.39% compared to the previous year. Polish banking sector provided mortgage loans of PLN 483 bil in 2022-09-30, down 2.34% when compared to the last year. Bank Handlowy accounted fo...

BH's retail deposits rose 12.2% yoy to PLN 18,212 mil in 3Q2022

By Helgi Analytics - March 13, 2023

Bank Handlowy's retail deposits reached PLN 18,212 mil in 2022-09-30, up 2.80% compared to the previous year. Polish banking sector accepted retail deposits of PLN 973 bil in 2022-09-30, up 2.72% when compared to the last year. Bank Handlowy accounted for...

BH's employees rose 0.241% yoy to 2,910 in 4Q2022

By Helgi Analytics - March 13, 2023

Bank Handlowy employed 2,910 persons in 2022-12-31, up 0.588% when compared to the previous year. Historically, the bank's workforce hit an all time high of 5,840 persons in 2008-03-31 and an all time low of 2,893 in 2022-09-30. Average cost reached USD 3,970 per ...

BH's total revenues rose 66.4% yoy to PLN 760 mil in 3Q2022

By Helgi Analytics - March 13, 2023

Bank Handlowy generated total banking revenues of PLN 760 mil in 2022-09-30, down 24.9% compared to the previous year. Polish banking sector banking sector generated total revenues of PLN 24,268 mil in 2022-09-30, down 1.11% when compared to the last ...

BH's net interest income rose 254% yoy to PLN 897 mil in 4Q2022

By Helgi Analytics - March 13, 2023

Bank Handlowy generated total banking revenues of PLN 1,039 mil in the fourth quarter of 2022, up 94% when compared to the same period of last year and 36.6% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, ...

BH's npls (as % of loans) fell 2.29% yoy to 4.69% in 4Q2022

By Helgi Analytics - March 13, 2023

Bank Handlowy's non-performing loans reached 4.69% of total loans at the end of 2022-12-31, down from 4.80% compared to the previous year. Historically, the NPL ratio hit an all time high of 63.3% in 2004-03-31 and an all time low of 3.19% in 2017-06-30. Pr...

BH's consumer loans fell 12.8% yoy to PLN 4,084 mil in 3Q2022

By Helgi Analytics - March 13, 2023

Bank Handlowy's consumer loans reached PLN 4,084 mil in 2022-09-30, down 4.41% compared to the previous year. Polish banking sector provided consumer loans of PLN 284 bil in 2022-09-30, down 0.631% when compared to the last year. Bank Handlowy accounted f...

BH's corporate deposits rose 7.25% yoy to PLN 26,419 mil in 3Q2022

By Helgi Analytics - March 13, 2023

Bank Handlowy's corporate deposits reached in 2017-12-31, down 0% compared to the previous year. Polish banking sector accepted corporate deposits of PLN 369 bil in 2017-12-31, up 9.42% when compared to the last year. Bank Handlowy accounted for of all ...

BH's costs (as % of assets) fell 4.22% yoy to 1.78% in 4Q2022

By Helgi Analytics - March 13, 2023

Bank Handlowy's cost to income ratio reached 30.4% in the fourth quarter of 2022, down from 40.4% when compared to the previous quarter. Historically, the bank’s costs reached an all time high of 73.4% of income in 1Q2017 and an all time low of 29.7% in 2Q20...

BH's price/earnings (P/E) fell 58.2% yoy to 5.15 in 4Q2022

By Helgi Analytics - March 13, 2023

Bank Handlowy stock traded at per share at the end first quarter of 1970 implying a market capitalization of. Since the end of 1Q1965, the stock has A PHP Error was encountered Severity: Warning Message: A non-numeric value encountered Filename: src/Environment.php(358) : ev...

More News

Bank Handlowy is a Poland-based commercial bank. It offers its products and services under Citibank Handlowy brand such as checking, or savings accounts, loans, insurance, and credit cards specifically targeted to individuals, small companies, and large companies. The bank was created by the 2001 merger of Bank Handlowy w Warszawie, Poland's oldest bank founded in 1870, and Citibank (Poland). The Bank's parent entity is Citibank Overseas Investment Corporation (COIC) holding 75% in the bank.

Bank Handlowy Logo

Finance

Bank Handlowy has been growing its revenues and asset by -2.40% and 4.97% a year on average in the last 10 years. Its loans and deposits have grown by 5.97% and 6.21% a year during that time and loans to deposits ratio reached 50.5% at the end of 2020. The company achieved an average return on equity of 9.72% in the last decade with net profit growing -7.68% a year on average. In terms of operating efficiency, its cost to income ratio reached 56.4% in 2020, compared to 54.4% average in the last decade.

Equity represented 12.4% of total assets or 34.6% of loans at the end of 2020. Bank Handlowy's non-performing loans were 3.70% of total loans while provisions covered some 100% of NPLs at the end of 2020.

Valuation

Bank Handlowy stock traded at per share at the end of 2020 resulting in a market capitalization of . Over the previous three years, stock price rose by 0% or 0% a year on average. That’s compared to an average ROE of 6.91% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 13.2x and price to book value (PBV) of 0.606x in 2020.

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