The management also upheld the declaration of being ready to propose to pay out dividend in line with the banking watchdog's guidelines (i.e. of 0-75% of annual profits). Last year, the bank's AGM allocated 75% of the annual profit to dividend. Market consensus is the payment of 99% of the 2013 profit as dividend.
The lender reported that its consolidated revenue fell by 6.6% y/y to PLN 2,546.9mn last year, primarily due to the decline in the net interest income. On the other hand, the net fee and commission income and Treasury result increased.
Bank Handlowy said that at the end of 2013, its ROE was 15.3%, ROA was 2.1%, while Cost/Income ratio - 54% (C/I ratio excluding the restructuring provision: 51%) and its capital adequacy ratio - 17.5%.
At the end of 2013, the group's total assets amounted to PLN 45.4bn vs. PLN 43.5bn at the end of 2012
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