Santander Bank Polska SA (WAR:SPL)
zł 459.2 -4.4 (-0.95%) Market Cap: 46.93 Bil Enterprise Value: 53.44 Bil PE Ratio: 9.64 PB Ratio: 1.60 GF Score: 83/100
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Half Year 2024 Santander Bank Polska SA Earnings Call Transcript

Jul 24, 2024 / 10:59 AM GMT
Release Date Price: zł539.8 (+0.07%)

Key Points

Positve
  • Santander Bank Polska SA (BKZHY) reported a net profit of EUR 2.4 billion for the first half of 2024.
  • Customer deposits grew by 7% year-on-year, totaling PLN 215 billion.
  • The number of digital customers increased by 7% year-on-year, with mobile app users growing by over 13%.
  • The bank's capital position remains strong with a TCR of 17.8% and Tier one ratio of 16.7%.
  • Return on equity for the group was 19.1%, indicating strong profitability.
Negative
  • The bank faced a significant tax burden of EUR 1,267 million in the second quarter.
  • Total regulatory costs amounted to ZAR 172 million, impacting overall profitability.
  • Net interest income declined by 3% in Q2, driven by the impact of COVID payment holidays.
  • Total costs for the first six months grew by 11% year-on-year, driven by inflation, salary adjustments, and IT costs.
  • Provisions for expected credit losses totaled EUR 611 million in the first six months, higher than the corresponding period last year.


Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SPL1.WA - Santander Bank Polska SA
Half Year 2024 Santander Bank Polska SA Earnings Call
Jul 24, 2024 / NTS GMT

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Presentation
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Operator [1]
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Good morning. Welcome at the presentation of financial results of Santander Bank Polska Group for the first half of 2024. My name is Scott David Conn, Head of Investor Relations at Santander Bank Polska.

Today, the results will be presented by our CEO, MichaÃ… Gajewski; Luca member of the Management Board of possible for finances, financial FIN46 Carsky, Head of Accounting and Financial Control division. I would like to encourage you to ask questions via the link available on the website or you can also send questions directly to me are the misconduct of the car at santander dot PL.

So let's start with the presentation and then we will hold a Q&A session.

Good morning, and thank you, Agnes Karl. My
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