DSK Bank

DSK Bank's net interest margin fell 15.2% to 3.91% in 2017

By Helgi Analytics - November 05, 2019

DSK Bank's net interest margin amounted to 3.91% in 2017, down from 4.61% compared to the previous year. Historically, the...

DSK Bank's customer deposits rose 5.44% to BGN 10,254 mil in 2017

By Helgi Analytics - November 05, 2019

DSK Bank's customer deposits reached BGN 10,254 mil in 2017, up 5.44% compared to the previous year. Bulgarian banking sector a...

DSK Bank's retail deposits rose 8.90% to BGN 8,215 mil in 2017

By Helgi Analytics - November 05, 2019

DSK Bank's retail deposits reached BGN 8,215 mil in 2017, up 8.90% compared to the previous year. Bulgarian banking sector acce...

Profit Statement 2015 2016 2017
Net Interest Income BGN mil 564 532 473
Fee Income (As % Of Revenues) % 19.8 22.1 25.1
Other Income BGN mil 36.5 55.3 62.4
Total Revenues BGN mil 749 754 715
Staff Cost BGN mil 105 112 123
Operating Profit BGN mil 468 444 372
Provisions BGN mil 107 95.3 45.6
Net Profit BGN mil 321 303 285
Balance Sheet 2015 2016 2017
Interbank Loans BGN mil 3,200 1,145 1,617
Customer Loans BGN mil 6,230 6,364 6,784
Debt Securities BGN mil 930 1,014 1,355
Total Assets BGN mil 11,264 11,832 12,359
Shareholders' Equity BGN mil 1,611 1,590 1,631
Interbank Borrowing BGN mil 224 117 14.8
Customer Deposits BGN mil 9,310 9,725 10,254
Issued Debt Securities BGN mil 80.1 137 144
Ratios 2015 2016 2017
ROE % 20.1 18.9 17.7
ROA % 3.00 2.62 2.35
Costs (As % Of Assets) % 2.63 2.69 2.83
Costs (As % Of Income) % 37.5 41.1 48.0
Capital Adequacy Ratio % 17.3 17.6 17.1
Net Interest Margin % 5.28 4.61 3.91
Loans (As % Of Deposits) % 66.9 65.4 66.2
NPLs (As % Of Loans) % 15.1 13.7 11.2
Provisions (As % Of NPLs) % 93.9 90.0 92.3
Growth Rates 2015 2016 2017
Total Revenue Growth % 12.0 0.759 -5.28
Operating Cost Growth % 2.15 10.5 10.5
Operating Profit Growth % 19.0 -5.06 -16.3
Net Profit Growth % 40.7 -5.65 -6.03
Customer Loan Growth % 0.006 2.17 6.59
Total Asset Growth % 11.5 5.04 4.45
Customer Deposit Growth % 16.3 4.46 5.44
Shareholders' Equity Growth % 1.58 -1.29 2.56
Employees 4,502 4,679 4,872

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summary Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                              
Net Interest Income BGN mil                 521 499 469 505 564    
Total Revenues BGN mil                 656 650 623 668 749    
Operating Profit BGN mil                 422 398 368 393 468    
Net Profit BGN mil                 87.7 161 191 228 321    
balance sheet                              
Interbank Loans BGN mil                 1,054 1,193 1,471 2,485 3,200    
Customer Loans BGN mil                 6,697 6,508 6,191 6,229 6,230    
Debt Securities BGN mil                 204 326 540 567 930    
Total Assets BGN mil                 8,558 8,703 8,864 10,104 11,264    
Shareholders' Equity BGN mil                 1,332 1,437 1,492 1,586 1,611    
Interbank Borrowing BGN mil                 44.3 244 292 406 224    
Customer Deposits BGN mil                 6,429 6,612 6,980 8,003 9,310    
Issued Debt Securities BGN mil                 687 295 76.7 86.8 80.1    
ratios                              
ROE %                 6.09 11.7 13.0 14.8 20.1    
ROA %                 1.02 1.87 2.17 2.41 3.00    
Costs (As % Of Assets) %                 2.73 2.92 2.90 2.90 2.63    
Costs (As % Of Income) %                 35.6 38.8 40.9 41.1 37.5    
Capital Adequacy Ratio % ...               16.5 16.0 16.9 18.1 17.3    
Net Interest Margin %                 6.09 5.79 5.33 5.32 5.28    
Interest Income (As % Of Revenues) %                 79.5 76.8 75.2 75.5 75.3    
Fee Income (As % Of Revenues) %                 17.1 17.7 19.5 19.7 19.8    
Staff Cost (As % Of Total Cost) %                 37.2 36.0 38.0 36.6 37.3    
Equity (As % Of Assets) %                 15.6 16.5 16.8 15.7 14.3    
Loans (As % Of Deposits) %                 104 98.4 88.7 77.8 66.9    
Loans (As % Assets) %                 78.3 74.8 69.8 61.7 55.3    
NPLs (As % Of Loans) % ...               17.3 21.1 21.5 15.5 15.1    
Provisions (As % Of NPLs) % ...               74.1 73.7 82.2 88.5 93.9    
income statement Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                              
Interest Income BGN mil                 730 687 609 605 606    
Interest Cost BGN mil                 209 188 140 99.8 41.7    
Net Interest Income BGN mil                 521 499 469 505 564    
Net Fee Income BGN mil                 112 115 121 132 148    
Other Income BGN mil                 22.7 35.8 33.4 31.6 36.5    
Total Revenues BGN mil                 656 650 623 668 749    
Staff Cost BGN mil                 87.0 90.8 96.9 100 105    
Depreciation BGN mil                 36.3 42.1 32.3 39.6 40.3    
Other Cost BGN mil                 110 119 126 135 136    
Operating Cost BGN mil                 234 252 255 275 281    
Operating Profit BGN mil                 422 398 368 393 468    
Provisions BGN mil                 324 212 142 121 107    
Extra and Other Cost BGN mil                 0 0 0.270 0 0    
Pre-Tax Profit BGN mil                 98.5 186 226 272 361    
Tax BGN mil                 10.7 22.5 23.3 28.1 36.5    
Minorities BGN mil                 0.080 2.11 12.2 16.0 3.89    
Net Profit BGN mil                 87.7 161 191 228 321    
growth rates                              
Net Interest Income Growth % ...               5.16 -4.23 -6.15 7.75 11.7    
Net Fee Income Growth % ...               0.896 2.89 5.25 8.65 12.6    
Total Revenue Growth % ...               4.69 -0.871 -4.17 7.22 12.0    
Operating Cost Growth % ...               2.10 7.88 1.21 7.75 2.15    
Operating Profit Growth % ...               6.18 -5.71 -7.57 6.85 19.0    
Pre-Tax Profit Growth % ...               -32.0 88.8 21.6 20.4 32.7    
Net Profit Growth % ...               -32.5 83.9 18.1 19.7 40.7    
market share                              
Market Share in Revenues %                 16.7 17.0 16.8 17.1 18.1    
Market Share in Net Profit %                 18.5 30.7 37.8 32.1 35.7    
Market Share in Employees % ...               13.2 14.1 13.8 14.3 14.7    
Market Share in Bank Cards % ... ... ... ... ... ... ... ... ... ... 17.3 19.9 19.0 ... ...
Market Share in Debit Cards % ... ... ... ... ... ... ... ... ... ... ... 21.7 20.4 ... ...
Market Share in Credit Cards % ... ... ... ... ... ... ... ... ... ... ... 9.37 10.3 ... ...
Market Share in Branches % ...               10.2 9.94 10.0 10.3 10.4    
balance sheet Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                              
Cash BGN mil                 249 250 262 376 372    
Interbank Loans BGN mil                 1,054 1,193 1,471 2,485 3,200    
Customer Loans BGN mil                 6,697 6,508 6,191 6,229 6,230    
Retail Loans BGN mil                 5,524 5,485 5,445 5,557 4,938    
Mortgage Loans BGN mil ... ...             2,629 2,584 2,518 2,350 2,288    
Consumer Loans BGN mil ... ...             2,895 2,901 2,927 3,208 2,650    
Corporate Loans BGN mil                 2,145 2,209 2,060 2,230 2,312    
Debt Securities BGN mil                 204 326 540 567 930    
Fixed Assets BGN mil                 330 389 358 391 397    
Total Assets BGN mil                 8,558 8,703 8,864 10,104 11,264    
Shareholders' Equity BGN mil                 1,332 1,437 1,492 1,586 1,611    
Of Which Minority Interest BGN mil                 1.24 6.43 18.1 38.8 23.0    
Liabilities BGN mil                 7,225 7,266 7,372 8,518 9,653    
Interbank Borrowing BGN mil                 44.3 244 292 406 224    
Customer Deposits BGN mil                 6,429 6,612 6,980 8,003 9,310    
Retail Deposits BGN mil                 5,250 5,420 5,660 6,433 7,107    
Corporate Deposits BGN mil                 864 801 919 1,207 1,766    
Sight Deposits BGN mil ... ... ... ... ... ... ... ... ... ... 3,399 4,459 6,153 ... ...
Term Deposits BGN mil ... ... ... ... ... ... ... ... ... ... 3,180 3,182 3,158 ... ...
Issued Debt Securities BGN mil                 687 295 76.7 86.8 80.1    
Other Liabilities BGN mil                 65.0 115 23.1 21.9 38.3    
asset quality                              
Non-Performing Loans BGN mil ...               1,330 1,627 1,614 1,116 1,096    
Gross Loans BGN mil                 7,683 7,707 7,517 7,217 7,259    
Total Provisions BGN mil                 985 1,199 1,326 988 1,030    
growth rates                              
Customer Loan Growth % ...               -2.50 -2.83 -4.87 0.612 0.006    
Retail Loan Growth % ...               0.493 -0.714 -0.731 2.07 -11.1    
Mortgage Loan Growth % ... ... ...           1.53 -1.72 -2.56 -6.68 12.8    
Consumer Loan Growth % ... ... ...           -0.431 0.200 0.902 9.59 -27.9    
Corporate Loan Growth % ...               5.75 2.97 -6.72 8.23 -146    
Total Asset Growth % ...               -0.074 1.70 1.85 14.0 11.5    
Shareholders' Equity Growth % ...               -14.0 7.88 3.81 6.31 1.58    
Customer Deposit Growth % ...               7.37 2.84 5.57 14.6 16.3    
Retail Deposit Growth % ...               7.22 3.24 4.43 13.7 10.5    
Corporate Deposit Growth % ...               20.2 -7.28 14.7 31.4 46.3    
market share                              
Market Share in Customer Loans %                 12.4 11.7 11.1 12.1 12.3    
Market Share in Corporate Loans %                 6.42 6.30 5.87 7.19 7.59    
Market Share in Retail Loans % ... ...             28.9 29.7 29.7 33.3 27.9    
Market Share in Consumer Loans %                 29.2 29.3 29.1 30.2 27.2    
Market Share in Mortgage Loans % ... ...             29.6 28.9 28.5 26.9 26.5    
Market Share in Total Assets %                 14.2 13.5 12.7 14.4 14.8    
Market Share in Customer Deposits %                 12.0 11.4 11.1 12.5 13.9    
Market Share in Retail Deposits %                 17.0 15.7 15.0 16.4 16.7    
Market Share in Corporate Deposits %                 6.32 5.62 5.95 7.87 9.69    
ratios Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                              
ROE %                 6.09 11.7 13.0 14.8 20.1    
ROA %                 1.02 1.87 2.17 2.41 3.00    
Costs (As % Of Assets) %                 2.73 2.92 2.90 2.90 2.63    
Costs (As % Of Income) %                 35.6 38.8 40.9 41.1 37.5    
Capital Adequacy Ratio % ...               16.5 16.0 16.9 18.1 17.3    
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ... 16.3 17.6 17.1    
Net Interest Margin %                 6.09 5.79 5.33 5.32 5.28    
Interest Spread % ...               5.60 5.37 5.01 5.12 5.21    
Asset Yield %                 8.53 7.96 6.93 6.38 5.67    
Cost Of Liabilities % ...               2.93 2.60 1.92 1.26 0.459    
Interest Income (As % Of Revenues) %                 79.5 76.8 75.2 75.5 75.3    
Fee Income (As % Of Revenues) %                 17.1 17.7 19.5 19.7 19.8    
Other Income (As % Of Revenues) %                 3.46 5.51 5.35 4.72 4.87    
Cost Per Employee USD per month ...               1,151 1,050 1,214 1,219 1,138    
Cost Per Employee (Local Currency) BGN per month ...               1,619 1,598 1,789 1,850 1,939    
Staff Cost (As % Of Total Cost) %                 37.2 36.0 38.0 36.6 37.3    
Equity (As % Of Assets) %                 15.6 16.5 16.8 15.7 14.3    
Loans (As % Of Deposits) %                 104 98.4 88.7 77.8 66.9    
Loans (As % Assets) %                 78.3 74.8 69.8 61.7 55.3    
NPLs (As % Of Loans) % ...               17.3 21.1 21.5 15.5 15.1    
Provisions (As % Of NPLs) % ...               74.1 73.7 82.2 88.5 93.9    
Provisions (As % Of Loans) %                 14.7 18.4 21.4 15.9 16.5    
Cost of Provisions (As % Of Loans) %                 4.78 3.22 2.23 1.95 1.71    
other data Unit 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                              
Branches ...               386 381 378 385 383    
Employees ...               4,477 4,736 4,514 4,527 4,502    
ATMs                 890 878 873 883 874    
Payment Cards '000 ... ... ... ... ... ... ... ... ... ... 1,339 1,464 1,381 ... ...
Debit Cards '000 ... ... ... ... ... ... ... ... ... ... ... 1,364 1,268 ... ...
Credit Cards '000 ... ... ... ... ... ... ... ... ... ... ... 87.9 97.0 ... ...
Sight (As % Of Customer Deposits) % ... ... ... ... ... ... ... ... ... ... 48.7 55.7 66.1 ... ...

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DSK Bank's net profit fell 6.03% to BGN 285 mil in 2017

By Helgi Analytics - November 05, 2019

DSK Bank made a net profit of BGN 285 mil under revenues of BGN 715 mil in 2017, up -6.03% and -5.28% respectively compared to the previous year. Historically, the bank’s net profit reached an all time high of BGN 321 mil in 2015 and an all time low of BGN 45.6 mil i...

DSK Bank's total revenues fell 5.28% to BGN 715 mil in 2017

By Helgi Analytics - November 05, 2019

DSK Bank generated total banking revenues of BGN 715 mil in 2017, down 5.28% compared to the previous year. Bulgarian banking sector banking sector generated total revenues of BGN 3,870 mil in 2017, down 4.62% when compared to the last year. As ...

DSK Bank's employees rose 4.13% to 4,872 in 2017

By Helgi Analytics - November 05, 2019

DSK Bank employed 4,872 persons in 2017, up 4.13% when compared to the previous year. Historically, the bank's workforce hit an all time high of 4,872 persons in 2017 and an all time low of 3,569 in 2006. Average cost reached USD 1,211 per month per employee, ...

DSK Bank's corporate deposits rose 10.8% to BGN 1,776 mil in 2017

By Helgi Analytics - November 05, 2019

DSK Bank's corporate deposits reached BGN 1,776 mil in 2017, up 10.8% compared to the previous year. Bulgarian banking sector accepted corporate deposits of BGN 22.0 bil in 2017, up 13.8% when compared to the last year. DSK Bank accounted for 8.06% of all...

DSK Bank's mortgage loans fell 0.109% to BGN 2,130 mil in 2017

By Helgi Analytics - November 05, 2019

DSK Bank's mortgage loans reached BGN 2,130 mil in 2017, down 0.109% compared to the previous year. Bulgarian banking sector provided mortgage loans of BGN 9.45 bil in 2017, up 7.40% when compared to the last year. DSK Bank accounted for 22.5% of all mort...

DSK Bank's npls (as % of loans) fell 18.5% to 11.2% in 2017

By Helgi Analytics - November 05, 2019

DSK Bank's non-performing loans reached 11.2% of total loans at the end of 2017, down from 13.7% compared to the previous year. Historically, the NPL ratio hit an all time high of 21.5% in 2013 and an all time low of 2.27% in 2006. Provision coverage amount...

DSK Bank's corporate loans rose 9.07% to BGN 2,714 mil in 2017

By Helgi Analytics - November 05, 2019

DSK Bank's loans reached BGN 7,564 mil in the 2017, up from BGN 7,260 mil compared to the previous year. Historically, the bank’s loans reached an all time high of BGN 7,707 mil in 2012 and an all time low of BGN 2,977 mil in 2005. In the last decade, t...

DSK Bank's customer loans rose 6.59% to BGN 6,784 mil in 2017

By Helgi Analytics - November 05, 2019

DSK Bank's customer loans reached BGN 6,784 mil in 2017, up 6.59% compared to the previous year. Bulgarian banking sector provided customer loans of BGN 59.7 bil in 2017, up 6.73% when compared to the last year. DSK Bank accounted for 11.4% of all custome...

DSK Bank's branches fell 1.34% to 367 in 2017

By Helgi Analytics - November 05, 2019

DSK Bank employed 4,872 persons in 2017, up 4.13% compared to the previous year. Historically, the bank's workforce hit an all time high of 4,872 persons in 2017 and an all time low of 3,569 in 2006. The bank operated a network of 367 branches and 890 ATMs...

DSK Bank's capital adequacy ratio fell 2.45% to 17.1% in 2017

By Helgi Analytics - November 05, 2019

DSK Bank's capital adequacy ratio reached 17.1% at the end of 2017, down from 17.6% compared to the previous year. Historically, the bank’s capital ratio hit an all time high of 18.1% in 2014 and an all time low of 16.9% in 2013. The Tier 1 ratio amounted to ...

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DSK Bank EAD is the biggest Bulgarian retail bank. The Bank offers a wide range of banking and other financial services to commercial and private banking clients. Its products include loans, current and saving accounts, and deposits amongst others. In addition to providing mainstream banking products, the Group undertakes insurance activities, stock brokerage, investment in mutual funds, leasing services, real estate investment management and financial advice, amongst others. At the end of 2013, the Bank operated 378 branches and 873 ATMs in Bulgaria and employed over 4,500 persons. The Bank was founded in 1951 and is headquartered in Sofia, Bulgaria. It is owned by OTP Bank, Hungary's largest bank.

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Finance

DSK Bank has been growing its revenues and asset by 4.26% and 4.65% a year on average in the last 10 years. Its loans and deposits have grown by 1.80% and 7.41% a year during that time and loans to deposits ratio reached 66.2% at the end of 2017. The company achieved an average return on equity of 14.9% in the last decade with net profit growing 4.25% a year on average. In terms of operating efficiency, its cost to income ratio reached 48.0% in 2017, compared to 39.4% average in the last decade.

Equity represented 13.2% of total assets or 24.0% of loans at the end of 2017. DSK Bank's non-performing loans were 11.2% of total loans while provisions covered some 92.3% of NPLs at the end of 2017.