Q3 2024 Bank Handlowy w Warszawie SA Earnings Call Transcript
Key Points
- Bank Handlowy w Warszawie SA (FRA:6HW) reported a solid quarter with revenue exceeding PLN1 billion and a net profit of PLN545 million, marking the highest level in the last four quarters.
- The lending portfolio increased by 7% year-over-year, driven primarily by institutional clients, and the deposit volume rose by 2%.
- The bank's total capital ratio stood at 22.8%, well above regulatory thresholds, indicating a strong capital position.
- The Consumer Bank segment saw a 9% quarter-on-quarter increase in top-line growth, particularly in Wealth Management, which also experienced a 2% increase in clients.
- The bank maintained strong cost discipline, achieving the lowest expense figure in the last four quarters, with a cost-income ratio of 32%.
- The Institutional Banking segment experienced a 5% decrease in revenue quarter-over-quarter, primarily due to lower trading results.
- The Consumer Bank's FX volumes saw a slight decrease, attributed to small ticket transactions and a lack of retail investment activity.
- Net fee and commission income decreased by 5% quarter-over-quarter, influenced by seasonality and the absence of one-off events.
- The treasury segment reported a 6% decrease in net interest income quarter-over-quarter, impacted by a lower balance sheet due to dividend payouts.
- There was a slight decrease in domestic transaction value on cards, down by 2%, although cross-border transaction value increased.
Hello, everyone. It's 2:00 p.m., so we can start the financial results for third quarter of Citi Handlowy. Hello, everyone. My name is Adam Piotrak. I'm responsible for Investor Relations.
I'm with Maciej Krywoniuk, Head of Strategy and Investor Relations, who will pass through the earnings presentation. Presentation, you can find on our website in the section Investor Relations.
Maciej, the floor is yours.
Okay. Thank you, Adam. Thank you, everyone, for joining. A very good afternoon to you all. As mentioned by Adam, I'll walk you through the earnings presentation. It's available on our website under the Investor Relations tab.
And just to open, I wanted to share with you that we will not be commenting on exit from Consumer Bank, and important milestones regarding the exit will be shared with out of the market participants through Warsaw Stock Exchange
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
