ING Bank Śląski recorded PLN 669 million of consolidated net profit attributable to shareholders of the parent company in Q4 2021 compared to PLN 313.9 million profit a year earlier, the bank said in its report, presenting preliminary unaudited data.
Net interest income amounted to PLN 1,416.4 million compared to PLN 1,154.2 million a year earlier. The fee and commission income was PLN 476m, compared to PLN 431.7m a year earlier.
The bank’s total assets amounted to PLN 201.65 billion at the end of 2021 compared to PLN 186.59 billion at the end of 2020.
In the whole of 2021, the bank had PLN 2,308.3 million of consolidated net profit attributable to shareholders of the parent company, compared to PLN 1,337.6 million of profit a year earlier.
Basic financial data of the ING Bank Śląski Group for four quarters of 2021 compared to the same period last year:
* the result on core activities increased by 10.5% to PLN 6,867.6 million, including:
– net interest income increased by 9.4% to PLN 4,969.7 million,
– commission result improved by 20.7% to PLN 1,844.8 million,
* total costs increased by 7.3% to PLN 2,964.5 million,
* result before risk costs increased by 22.6% to PLN 3,331.3 million,
* provisions for expected credit losses decreased by 60.7% to PLN 316 million,
* gross profit increased by 57.7% to PLN 3,015.3 million,
* net profit increased by 72.6% to PLN 2,308.3 million,
* return on equity (ROE) reached the level of 13.6% compared to 7.6% last year,
* cost / income ratio amounted to 43.2% compared to 44.5% last year,
* the net interest margin reached the level of 2.58% compared to 2.63% in the previous year,
* the total capital ratio was 15.08% compared to 19.52% last year, “the report said.
On a standalone basis, the net profit in 2021 amounted to PLN 2,308.3 million, compared to PLN 1,337.6 million profit a year earlier.
ING Bank Śląski has been listed on the WSE since 1994. Its main shareholder is the Dutch group ING.
Source: ING Bank Śląski and ISBnews
