Getin Holding

Getin Holding's corporate loans rose 54.4% to PLN 15,878 mil in 2017

By Helgi Analytics - May 1, 2018

Getin Holding's loans reached PLN 18,383 mil in the 2017, up from PLN 12,747 mil compared to the previous year. Histori...

Getin Holding's share price (end of period) rose 32.7% to PLN 1.38 in 2017

By Helgi Analytics - May 1, 2018

Getin Holding stock traded at PLN 1.38 per share at the end of 2017 implying a market capitalization of USD 295 mil. Since the end of 2...

Getin Holding's net profit fell 29.2% to PLN 183 mil in 2017

By Helgi Analytics - May 1, 2018

Getin Holding made a net profit of PLN 183 mil under revenues of PLN 1,613 mil in 2017, up -29.2% and 2.79% respectively compared to ...

Profit Statement 2015 2016 2017
Net Interest Income PLN mil 581 841 960
Net Fee Income PLN mil 442 434 392
Other Income PLN mil 141 294 261
Total Revenues PLN mil 1,164 1,569 1,613
Staff Cost PLN mil 414 395 406
Operating Profit PLN mil 311 742 775
Provisions PLN mil 273 271 373
Net Profit PLN mil 127 259 183
Balance Sheet 2015 2016 2017
Interbank Loans PLN mil 518 536 298
Customer Loans PLN mil 9,372 11,571 17,184
Debt Securities PLN mil 3,111 3,967 4,605
Total Assets PLN mil 23,164 25,845 28,204
Shareholders' Equity PLN mil 2,717 3,236 3,526
Interbank Borrowing PLN mil 1,336 994 1,313
Customer Deposits PLN mil 14,660 17,710 19,692
Issued Debt Securities PLN mil 1,382 957 940
Ratios 2015 2016 2017
ROE % 4.75 8.70 5.43
ROA % 0.586 1.06 0.679
Costs (As % Of Assets) % 3.94 3.38 3.10
Costs (As % Of Income) % 73.3 52.7 51.9
Capital Adequacy Ratio % ... ... 9.79
Net Interest Margin % 2.68 3.43 3.55
Loans (As % Of Deposits) % 63.9 65.3 87.3
NPLs (As % Of Loans) % 14.8 16.2 9.74
Provisions (As % Of NPLs) % 64.6 56.9 66.9
Valuation 2015 2016 2017
Market Capitalisation (End Of Period) USD mil 227 182 295
Share Price (End Of Period) PLN 1.22 1.04 1.38
Price/Earnings (P/E) 6.98 2.94 5.61
Price/Book Value (P/BV) 0.328 0.235 0.297
Dividend Yield % 0 0 0
Earnings Per Share (EPS) 0.175 0.354 0.246
Book Value Per Share 3.72 4.42 4.64
Dividend Per Share 0 0 0

Get all company financials in excel:

Download Sample   $19.99

summary Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                            
Net Interest Income PLN mil               1,708 443 596 720 581    
Total Revenues PLN mil               3,738 1,420 1,120 1,456 1,164    
Operating Profit PLN mil               2,514 844 443 581 311    
Net Profit PLN mil               976 580 246 174 127    
balance sheet                            
Interbank Loans PLN mil               197 863 286 560 518    
Customer Loans PLN mil               2,150 4,306 6,262 8,246 9,372    
Debt Securities PLN mil               482 953 1,731 2,743 3,111    
Total Assets PLN mil               61,800 9,760 13,347 20,124 23,164    
Shareholders' Equity PLN mil               6,233 1,996 2,239 2,619 2,717    
Interbank Borrowing PLN mil               672 1,539 2,012 1,701 1,336    
Customer Deposits PLN mil               2,595 5,147 7,422 12,737 14,660    
Issued Debt Securities PLN mil               122 480 878 1,723 1,382    
ratios                            
ROE %               17.5 14.1 11.6 7.16 4.75    
ROA %               1.80 1.62 2.13 1.04 0.586    
Costs (As % Of Assets) %               2.25 1.61 5.86 5.23 3.94    
Costs (As % Of Income) %               32.7 40.5 60.5 60.1 73.3    
Capital Adequacy Ratio % ... ... ... ... ...   ... 9.88 ... ... ... ... ...  
Net Interest Margin %               3.14 1.24 5.16 4.30 2.68    
Interest Income (As % Of Revenues) %               45.7 31.2 53.2 49.4 49.9    
Fee Income (As % Of Revenues) %               15.4 18.8 36.6 29.2 38.0    
Staff Cost (As % Of Total Cost) %               42.9 48.8 48.9 48.8 48.5    
Equity (As % Of Assets) %               10.1 20.5 16.8 13.0 11.7    
Loans (As % Of Deposits) %               82.9 83.7 84.4 64.7 63.9    
Loans (As % Assets) %               3.48 44.1 46.9 41.0 40.5    
NPLs (As % Of Loans) %               6.16 6.28 11.7 11.7 14.8    
Provisions (As % Of NPLs) %               71.0 65.2 58.9 59.7 64.6    
valuation                            
Market Capitalisation (End Of Period) USD mil               645 654 918 379 227    
Number Of Shares (Average) mil               728 733 734 721 726    
Share Price (End Of Period) PLN               3.05 2.76 3.77 1.86 1.22    
Earnings Per Share (EPS)               1.34 0.792 0.336 0.241 0.175    
Book Value Per Share               8.56 2.72 3.05 3.63 3.72    
Dividend Per Share               0 0.103 0.005 0 0    
Price/Earnings (P/E)               2.27 3.49 11.2 7.71 6.98    
Price/Book Value (P/BV)               0.356 1.01 1.24 0.512 0.328    
Dividend Yield %               0 3.72 0.123 0 0    
Earnings Per Share Growth % ...             127 -41.0 -57.6 -28.1 -27.6    
Book Value Per Share Growth % ...             23.5 -68.2 12.0 19.1 2.29    
income statement Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
income statement                            
Interest Income PLN mil               4,151 1,048 1,439 1,621 1,450    
Interest Cost PLN mil               2,444 605 843 901 869    
Net Interest Income PLN mil               1,708 443 596 720 581    
Net Fee Income PLN mil               577 267 410 426 442    
Other Income PLN mil               1,453 711 114 311 141    
Total Revenues PLN mil               3,738 1,420 1,120 1,456 1,164    
Staff Cost PLN mil               524 281 331 427 414    
Depreciation PLN mil               78.4 35.0 50.3 63.7 66.6    
Other Cost PLN mil               620 260 296 384 373    
Operating Cost PLN mil               1,223 576 678 875 853    
Operating Profit PLN mil               2,514 844 443 581 311    
Provisions PLN mil               1,249 57.2 165 239 273    
Extra and Other Cost PLN mil               -10.7 0 0 0.012 -31.8    
Pre-Tax Profit PLN mil               1,276 787 278 342 69.6    
Tax PLN mil               165 174 3.03 82.2 -79.5    
Minorities PLN mil               134 32.6 28.6 85.9 129    
Net Profit PLN mil               976 580 246 174 127    
Dividends PLN mil               0 75.3 3.39 0 0    
growth rates                            
Net Interest Income Growth % ...             34.1 -74.1 34.8 20.6 -19.3    
Net Fee Income Growth % ...             0.201 -53.8 53.7 3.85 3.91    
Total Revenue Growth % ...             53.3 -62.0 -21.1 30.0 -20.1    
Operating Cost Growth % ...             31.7 -52.9 17.7 29.1 -2.47    
Operating Profit Growth % ...             66.5 -66.4 -47.6 31.3 -46.6    
Pre-Tax Profit Growth % ...             163 -38.3 -64.7 23.0 -79.6    
Net Profit Growth % ...             132 -40.6 -57.5 -29.4 -27.1    
balance sheet Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
balance sheet                            
Cash PLN mil               152 279 501 759 981    
Interbank Loans PLN mil               197 863 286 560 518    
Customer Loans PLN mil               2,150 4,306 6,262 8,246 9,372    
Retail Loans PLN mil               1,308 1,425 2,026 1,984 1,023    
Mortgage Loans PLN mil ... ...           284 2.35 5.84 4.88 4.54    
Consumer Loans PLN mil ... ...           358 1,331 1,895 1,384 675    
Corporate Loans PLN mil               853 2,881 4,236 6,261 8,350    
Debt Securities PLN mil               482 953 1,731 2,743 3,111    
Fixed Assets PLN mil               369 673 797 1,290 988    
Total Assets PLN mil               61,800 9,760 13,347 20,124 23,164    
Shareholders' Equity PLN mil               6,233 1,996 2,239 2,619 2,717    
Of Which Minority Interest PLN mil               598 167 190 609 940    
Liabilities PLN mil               55,567 7,764 11,108 17,506 20,447    
Interbank Borrowing PLN mil               672 1,539 2,012 1,701 1,336    
Customer Deposits PLN mil               2,595 5,147 7,422 12,737 14,660    
Retail Deposits PLN mil               2,328 4,379 5,925 11,020 12,650    
Corporate Deposits PLN mil               250 761 1,483 1,682 2,004    
Sight Deposits PLN mil               159 448 981 2,055 1,683    
Term Deposits PLN mil               2,431 4,698 6,441 10,656 12,977    
Issued Debt Securities PLN mil               122 480 878 1,723 1,382    
Other Liabilities PLN mil               52,178 598 797 1,345 3,069    
asset quality                            
Non-Performing Loans PLN mil               139 282 788 1,035 1,535    
Gross Loans PLN mil               2,259 4,490 6,726 8,864 10,364    
Total Provisions PLN mil               98.7 184 464 618 992    
growth rates                            
Customer Loan Growth % ...             -93.6 100 45.4 31.7 13.7    
Retail Loan Growth % ...             -95.9 8.98 42.1 -2.04 -48.5    
Mortgage Loan Growth % ... ... ...         -98.9 -99.2 149 -16.5 -6.95    
Consumer Loan Growth % ... ... ...         -85.6 271 42.4 -27.0 -51.2    
Corporate Loan Growth % ...             -38.5 238 47.0 47.8 33.4    
Total Asset Growth % ...             31.9 -84.2 36.7 50.8 15.1    
Shareholders' Equity Growth % ...             26.3 -68.0 12.2 17.0 3.77    
Customer Deposit Growth % ...             -93.1 98.3 44.2 71.6 15.1    
Retail Deposit Growth % ...             -92.7 88.1 35.3 86.0 14.8    
Corporate Deposit Growth % ...             -93.8 204 95.0 13.4 19.1    
ratios Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
ratios                            
ROE %               17.5 14.1 11.6 7.16 4.75    
ROA %               1.80 1.62 2.13 1.04 0.586    
Costs (As % Of Assets) %               2.25 1.61 5.86 5.23 3.94    
Costs (As % Of Income) %               32.7 40.5 60.5 60.1 73.3    
Capital Adequacy Ratio % ... ... ... ... ...   ... 9.88 ... ... ... ... ...  
Tier 1 Ratio % ... ... ... ... ... ... ... ... ... ... ... ... ...  
Net Interest Margin %               3.14 1.24 5.16 4.30 2.68    
Interest Spread % ...             2.63 1.02 3.53 3.39 2.12    
Asset Yield %               7.64 2.93 12.5 9.68 6.70    
Cost Of Liabilities % ...             5.01 1.91 8.93 6.30 4.58    
Payout Ratio %               0 13.0 1.38 0 0    
Interest Income (As % Of Revenues) %               45.7 31.2 53.2 49.4 49.9    
Fee Income (As % Of Revenues) %               15.4 18.8 36.6 29.2 38.0    
Other Income (As % Of Revenues) %               38.9 50.0 10.2 21.4 12.1    
Cost Per Employee USD per month ... ...           1,486 1,315 1,237 1,362 1,237    
Cost Per Employee (Local Currency) PLN per month ... ...           4,405 4,280 3,909 4,464 4,602    
Staff Cost (As % Of Total Cost) %               42.9 48.8 48.9 48.8 48.5    
Equity (As % Of Assets) %               10.1 20.5 16.8 13.0 11.7    
Loans (As % Of Deposits) %               82.9 83.7 84.4 64.7 63.9    
Loans (As % Assets) %               3.48 44.1 46.9 41.0 40.5    
NPLs (As % Of Loans) %               6.16 6.28 11.7 11.7 14.8    
Provisions (As % Of NPLs) %               71.0 65.2 58.9 59.7 64.6    
Provisions (As % Of Loans) %               4.59 4.27 7.42 7.50 10.6    
Cost of Provisions (As % Of Loans) %               7.01 1.77 3.11 3.30 3.10    
other data Unit 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
other data                            
Employees ... ...           9,921 5,474 7,062 7,979 7,500    
Sight (As % Of Customer Deposits) %               6.13 8.71 13.2 16.1 11.5    

Get all company financials in excel:

Download Sample   $19.99

Getin Holding's npls (as % of loans) fell 39.9% to 9.74% in 2017

By Helgi Analytics - May 1, 2018

Getin Holding's non-performing loans reached 9.74% of total loans at the end of 2017, down from 16.2% compared to the previous year. Historically, the NPL ratio hit an all time high of 29.7% in 2004 and an all time low of 4.63% in 2008. Provision coverage a...

Getin Holding's price/earnings (P/E) rose 90.9% to 5.61 in 2017

By Helgi Analytics - May 1, 2018

Getin Holding stock traded at PLN 1.38 per share at the end 2017 implying a market capitalization of USD 295 mil. Since the end of 2012, the stock has depreciated by -50.0 % implying an annual average growth of -12.9 %. In absolute terms, the value of the company ...

Getin Holding's net interest margin rose 3.50% to 3.55% in 2017

By Helgi Analytics - May 1, 2018

Getin Holding's net interest margin amounted to 3.55% in 2017, up from 3.43% compared to the previous year. Historically, the bank’s net interest margin reached an all time high of 5.16% in 2013 and an all time low of 1.24% in 2012. The average margin i...

Getin Holding's net interest income rose 14.1% to PLN 960 mil in 2017

By Helgi Analytics - May 1, 2018

Getin Holding generated total banking revenues of PLN 1,613 mil in 2017, up 2.79% compared to the previous year. Historically, the bank’s revenues containing of interest, fee and other non-interest income reached an all time high of PLN 3,738 mil in 2011 and an...

Getin Holding's retail loan growth fell 94.9% to 1.33% in 2017

By Helgi Analytics - September 25, 2018

Getin Holding's retail loans reached PLN 1,306 mil at the end of 2017, up 1.33% compared to the previous year. In the last decade, the average annual loan growth amounted to -18.5%. Overall, retail loans accounted for 7.60% of the bank's loan book at the en...

Getin Holding's customer loan growth rose 107% to 48.5% in 2017

By Helgi Analytics - May 1, 2018

Getin Holding's customer loan growth reached 48.5% in 2017, up from 23.5% compared to the previous year. Historically, the bank’s loans growth reached an all time high of 100% in 2012 and an all time low of -93.6% in 2011. In the last decade, the average ...

More News

Getin Holding SA is a Poland-based financial holding. The Group established by Dr Leszek Czarnecki operates in banking, financial intermediation, insurance and leasing sectors. The Holding's banks specialize in cash loans, car loans, and services targeted at small and medium-sized enterprises. Getin Holding invests in ventures on the markets of Central and Eastern Europe, where it controls five banks and three lease companies. Among the Company’s brands are Idea Bank Polska, Tax Care, Idea Expert, MW Trade, Idea Leasing, Carcade, Kuban Bank, Idea Bank Ukraine and Idea Bank Belarus. The Company is operational in Poland, Ukraine, Belarus and the Russian Federation

Getin Holding Logo

Finance

Getin Holding has been growing its revenues and asset by 0.800% and 4.03% a year on average in the last 10 years. Its loans and deposits have grown by 4.43% and 6.59% a year during that time and loans to deposits ratio reached 87.3% at the end of 2017. The company achieved an average return on equity of 10.0% in the last decade with net profit growing -11.6% a year on average. In terms of operating efficiency, its cost to income ratio reached 51.9% in 2017, compared to 49.4% average in the last decade.

Equity represented 12.5% of total assets or 20.5% of loans at the end of 2017. Getin Holding's non-performing loans were 9.74% of total loans while provisions covered some 66.9% of NPLs at the end of 2017.

Valuation

Getin Holding stock traded at PLN 1.38 per share at the end of 2017 resulting in a market capitalization of USD 295 mil. Over the previous five years, stock price fell by 50% or 12.9% a year on average. That’s compared to an average ROE of 7.54% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 5.61x and price to book value (PBV) of 0.297x in 2017.