Annual / Quarterly Financial Statement • Oct 31, 2017
Annual / Quarterly Financial Statement
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Zagreb, October 31 2017
In accordance with Capital Markets Act, HPB p.l.c. (Bank) as the parent company of HPB Group (Group), publishes unaudited consolidated financial statements for the period from Jan 01 to Sep 30 2017.
This report includes:
Financial statements and notes were made in accordance with the TFI-KI reporting methodology by Croatian Financial Services Supervisory Agency. Items in the profit or loss statement are complied in accordance with IFRS.
HPB Group is, apart from the parent company – HPB p.l.c., comprised of HPB Stambena štedionica (savings bank), HPB Invest (investment fund management) and HPB Nekretnine (real estate agency).
In the 2017 reporting period, Group has recorded a net profit of HRK 1,0M, as opposed to HRK 147,9M of net profit in the same period of prior year. Loss is a cosequence of deteriorated creditworthiness of Agrokor and group of related parties, i.e. is a result of impairment losses that the Bank recognized on these exposures (HRK 193,5M of impairments on exposures towards this group of economically and legally related parties as per Sep 30 2017).
In spite of 2017 reporting period being marked with adverse effects of Agrokor on profitability of the parent company, subisidiaries continue to improve their results and contribute to Group's results. HPB Stambena štedionica made an after-tax profit of HRK2,2M. HPB Invest made a net profit of HRK 1,5M, whilst HPB Nekretnine added a net profit of HRK 823K.
Apart from this, subisidiaries have contributed to the parent through a dividend payout from profits earned in 2016. HPB Stambena štedionica has for the first time in its history paid out a dividend amounting to HRK 400K. Meahwhile, after paying out HRK 3,5M in 2016, HPB Invest paid out a dividend amounting to HRK 1,8M in 2017.
Mladen Mrvelj Board member Domagoj Karadjole Board member
In accordance with the Capital Market Act, the Management Board of HPB p.l.c., the parent company of HPB Group, states that according to their best knowledge the set of consolidated unaudited financial statements for the period from Jan 01 to Sep 30 2017, compiled in accordance with the accounting regulation applicable to credit institutions in Croatia, presents complete and accurate view of assets and liabilities, losses and gains, financial position and results of HPB p.l.c., as well as companies included in consolidation as a whole.
Mladen Mrvelj Board member Domagoj Karadjole Board member
Tomislav Katić Executive director Finance Division
| HPB GROUP | ||||||
|---|---|---|---|---|---|---|
| Appendix 3. Reporting period: |
Jan 01 | to | Sep 30 2017 | |||
| Quarterly financial statements for credit institutions TFI-KI | ||||||
| Registration number (MB): | 03777928 | |||||
| Registration number (MBS): | 080010698 | |||||
| Personal identification number (OIB): |
87939104217 | |||||
| Company: | HPB p.l.c. | |||||
| Postal code and city | 10000 | ZAGREB | ||||
| Address: JURIŠIĆEVA 4 | ||||||
| E-mail address: [email protected] | ||||||
| Internet address: www.hpb.hr | ||||||
| City code and name: | 133 ZAGREB |
|||||
| County code and name: | 21 GRAD ZAGREB |
# of employees: | 1.152 | |||
| Consolidated report: | YES | (as per reporting date) Industry code: |
6419 | |||
| Consolidated companies (in accordance with IFRS): | Headquarters: | Registration number: | ||||
| HPB Stambena Štedionica d.d. | Savska 58, 10000 Zagreb | 02068001 | ||||
| HPB Invest d.o.o. | Strojarska 20, 10000 Zagreb | 01972278 | ||||
| HPB Nekretnine d.o.o. | Amruševa 8, 10000 Zagreb | 01972260 | ||||
| Book-keeping service provided by: |
n/a | n/a | ||||
| Contact: | Tomašek David | |||||
| Phone: 014804900 | Fax: | 014804594 | ||||
| E-mail address: [email protected] | ||||||
| Surname and name: Karadjole Domagoj | ||||||
| Mrvelj Mladen (persons authorized for representation) |
||||||
| Documentation to be made public: |
in equity and notes to financial statements)
Management report
Statement by persons accountable for compiling the report
BALANCE SHEET
| as per Sep 30 2017 |
in HRK | ||
|---|---|---|---|
| Item | AOP label |
Dec 31 2016 | Sep 30 2017 |
| 1 | 2 | 3 | 4 |
| ASSSETS | |||
| 1. CASH AND DEPOSITS WITH THE CNB (002+003) | 001 | 2.263.303.114 | 3.100.192.913 |
| 1.1.Cash | 002 | 421.479.852 | 544.564.885 |
| 1.2.Deposits with the CNB | 003 | 1.841.823.262 | 2.555.628.028 |
| 2. DEPOSITS WITH FINANCIAL INSTITUTIONS | 004 | 774.135.009 | 436.698.700 |
| 3. SHORT-TERM TREASURY BILLS OF THE CROATIAN MINISTRY OF FINANCE | 005 | 415.536.615 | 414.640.114 |
| 4. FINANCIAL ASSETS HELD FOR TRADING | 006 | 696.314.398 | 598.546.487 |
| 5. FINANCIAL ASSETS AVAILABLE FOR SALE | 007 | 2.630.574.528 | 2.388.859.389 |
| 6. FINANCIAL ASSETS HELD TO MATURITY | 008 | 442.835.059 | 144.016.101 |
| 7. FINANCIAL ASSETS VALUED AT FAIR VALUE THROUGH PROFIT OR LOSS, | 009 | 0 | 0 |
| NOT ACTIVELY TRADED | |||
| 8. DERIVATIVE FINANCIAL ASSETS | 010 | 3.780.197 | 0 |
| 9. LOANS TO FINANCIAL INSTITUTIONS | 011 | 81.579.680 | 77.624.352 |
| 10. LOANS TO OTHER CUSTOMERS | 012 | 11.406.936.798 | 11.766.014.431 |
| 11. INVESTMENTS IN SUBSIDIARIES, ASSOCIATED COMPANIES AND JOINT VENTURES | 013 | 7.930.000 | 20.000.000 |
| 12. REPOSSESSED ASSETS | 014 | 0 | 0 |
| 13. TANGIBLE ASSETS (LESS DEPRECIATION) | 015 | 155.541.052 | 141.413.090 |
| 14. OTHER ASSETS | 016 | 827.552.055 | 584.883.453 |
| A) TOTAL ASSETS (001+004 to 016) LIABILITIES |
017 | 19.706.018.505 | 19.672.889.030 |
| 1. BORROWINGS FROM FINANCIAL INSTITUTIONS (019+020) | 018 | 620.995.448 | 652.062.586 |
| 1.1. Short-term | 019 | 0 | 0 |
| 1.2. Long-term | 020 | 620.995.448 | 652.062.586 |
| 2. DEPOSITS (022 to 024) | 021 | 14.781.982.934 | 14.813.806.613 |
| 2.1. Transactional and current accounts | 022 | 3.981.010.898 | 4.283.905.555 |
| 2.2. Savings deposits (demand) | 023 | 1.486.719.761 | 1.530.372.708 |
| 2.3. Term deposits | 024 | 9.314.252.275 | 8.999.528.350 |
| 3. OTHER BORROWINGS (026+027) | 025 | 88.426.108 | 5.247.981 |
| 3.1. Short-term | 026 | 0 | 0 |
| 3.2. Long-term | 027 | 88.426.108 | 5.247.981 |
| 4. DERIVATIVE AND OTHER FINANCIAL LIABILITIES HELD FOR TRADING | 028 | 3.640.667 | 0 |
| 5. ISSUED SECURITIES (030+031) | 029 | 0 | 0 |
| 5.1. Short-term | 030 | 0 | 0 |
| 5.2. Long-term | 031 | 0 | 0 |
| 6. SUBORDINATED DEBT ISSUED | 032 | 0 | 0 |
| 7. HYBRID INSTRUMENTS | 033 | 0 | 0 |
| 8. OTHER LIABILITIES | 034 | 2.317.559.985 | 2.285.880.271 |
| B) TOTAL LIABILITIES (018+021+025+028+029+032+033+034) | 035 | 17.812.605.142 | 17.756.997.451 |
| EQUITY | |||
| 1. SHARE CAPITAL | 036 | 1.214.298.000 | 1.214.298.000 |
| 2. PROFIT/(LOSS) FOR THE PERIOD | 037 | 183.486.624 | 976.806 |
| 3. RETAINED EARNINGS | 038 | 41.154.765 | 130.368.702 |
| 4. REGULATORY RESERVES | 039 | 6.160.835 | 15.708.724 |
| 5. STATUTARY AND OTHER CAPITAL RESERVES | 040 | 363.623.023 | 448.347.821 |
| 6. FAIR VALUE RESERVE | 041 | 84.690.116 | 106.191.526 |
| 7. RESERVES ARISING FROM HEDGING TRANSACTIONS | 042 | 0 | 0 |
| C) TOTAL EQUITY (036 to 042) | 043 | 1.893.413.363 | 1.915.891.579 |
| D) TOTAL LIABILITIES AND EQUITY (035+043) | 044 | 19.706.018.505 | 19.672.889.030 |
| ADDENDUM TO THE BALANCE SHEET (filled-in by the banks submitting consolidated financial statement) | |||
| 1. TOTAL EQUITY 2. Equity attributable to the shareholders of the parent company |
045 046 |
1.893.413.363 1.893.413.363 |
1.915.891.579 1.915.891.579 |
| 3. Minority interest (045-046) | 047 | 0 | 0 |
| Ja n 0 1 2 01 Se 7 for th eri od fro to e p m |
30 20 17 p |
in H R K |
|||
|---|---|---|---|---|---|
| Ite m |
AO P lab el |
Jan 01 - S |
30 20 16 ep |
Ju n 0 1 - Se |
30 201 7 p |
| Cu lat ive mu |
Qu art erl y |
Cu lat ive mu |
Qu art erl y |
||
| 1 | 2 | 3 | 4 | 5 | 6 |
| . In t in 1 ter es co me |
04 8 |
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18 3.0 65 .91 9 |
51 1.5 33 .93 2 |
16 9.7 08 .47 2 |
| 2 . In ter t e es xp en se |
04 9 |
16 8.3 70 .54 2 |
51 .92 4.4 13 |
10 7.6 69 .54 6 |
33 .64 3.4 17 |
| ( ) 3 . N et int st inc 04 8-0 49 ere om e |
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13 1.1 41 .50 6 |
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| . Fe nd iss ion in 4 e a co mm co me |
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38 2.0 31 .55 7 |
14 0.0 76 .87 5 |
41 2.8 06 .29 8 |
16 3.3 40 .00 2 |
| 5 . Fe nd iss ion e a co mm ex p en se |
05 2 |
23 2.1 54 .38 2 |
83 .02 6.2 14 |
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10 4.3 08 .74 0 |
| fee mi ion in ( ) 6 . N et d c 05 1-0 52 an om ss co me |
05 3 |
14 9.8 77 .17 5 |
57 .05 0.6 61 |
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| . G ain s l s l ris ing fro inv in s ub sid iar ies cia ted ies 7 tm ts es os se s a m es en , as so co mp an an j oin t ve ntu res |
d 05 4 |
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| 8 . G ain s l s l fro din tivi tie tra es os se s m g ac s |
05 5 |
56 .87 4.2 18 |
34 .14 6.8 90 |
39 .00 5.1 21 |
20 .35 9.1 15 |
| . G ain s l s l fro bu ilt- in d eri ive 9 vat es os se s m s |
05 6 |
0 | 0 | 0 | 0 |
| 10 . G ain s l s l ris ing fro fin cia l a lue d a t fa ir v alu hro h P &L ets e t es os se s a m an ss va ug , ctiv ely de d t a tra no |
05 7 |
0 | 0 | 0 | 0 |
| 11 . G ain s l s l ris ing fro riti ail ab le for le es os se s a m se cu es av sa |
05 8 |
41 .69 8.4 18 |
0 | 5.4 57 .49 2 |
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| . G ain s l s l ris ing fro riti he ld t rity 12 atu es os se s a m se cu es o m |
05 9 |
0 | 0 | 0 | 0 |
| . G fro 13 ain s l s l ris ing he dg ing tivi tie es os se s a m ac s |
06 0 |
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| 14 . In fro inv in s ub sid iar ies cia ted ies d j oin tm ts t ve ntu co me m es en , as so co mp an an res |
06 1 |
0 | 0 | 0 | 0 |
| 15 . In fro oth uity in str ts co me m er eq um en |
06 2 |
79 4.1 85 |
6.8 35 |
83 5.0 12 |
19 .35 9 |
| . G ain s l s l fro ha di ffe 16 ate es os se s m exc ng e r ren ce s |
06 3 |
( ) 1.1 77 .56 8 |
( ) 70 8.5 37 |
2.1 21 .39 0 |
1.9 39 .56 7 |
| . O 17 the r in co me |
06 4 |
6.6 34 .44 2 |
1.2 68 .61 1 |
4.5 36 .52 8 |
( ) 52 .27 6 |
| 18 . O the tin sts r o p era g co |
5 06 |
43 .55 7.2 43 |
16 .06 9.2 39 |
43 .08 8.9 08 |
14 .54 1.2 82 |
| . G l a nd ad mi nis tive iza tio nd de iat ion 19 tra ort en era ex p en se s, am n a p rec |
06 6 |
29 2.4 19 .68 0 |
10 0.3 68 .05 8 |
29 3.0 98 .69 5 |
96 .23 8.8 19 |
| 20 . O tin rof it ( 05 0+ 05 3 t o 0 64 -06 5-0 66 ) p era g p |
06 7 |
29 9.1 10 .28 2 |
10 6.4 68 .66 9 |
27 9.1 34 .11 5 |
10 6.5 81 .98 1 |
| 21 . Im air los nd isio nt p me se s a p rov ns |
06 8 |
15 1.7 19 .36 2 |
47 .70 4.6 95 |
27 6.2 88 .01 5 |
39 .25 4.0 22 |
| / S S 22 . P RO FIT ( LO ) BE FO RE TA X ( 06 7-0 68 ) |
06 9 |
14 7.3 90 .92 0 |
58 .76 3.9 74 |
2.8 46 .10 0 |
67 .32 7.9 59 |
| 23 . IN CO ME TA X E XP EN SE / D EF ER RE D T AX |
07 0 |
( 46 4.7 39 ) |
1.5 58 .74 0 |
1.8 69 .29 4 |
1.7 94 .41 3 |
| . N ET PR OF IT/ ( LO S S ) FO R T HE PE RIO D ( ) 24 06 9-0 70 |
07 1 |
55 .65 14 7.8 9 |
57 5.2 .20 34 |
97 6.8 06 |
65 .53 3.5 46 |
| 25 . E ing sh arn s p er are |
07 2 |
73 | 28 | 0 | 32 |
| AD DE ND UM TO TH E P &L ( fill ed -in by th e b ks bm itti oli da ted fin cia l st ate an su ng co ns an |
nt) me |
||||
| 1. PR OF IT FO R T HE PE RIO D |
07 3 |
14 7.8 55 .65 9 |
57 .20 5.2 34 |
97 6.8 06 |
65 .53 3.5 46 |
| Att rib ble th ha reh old of th 2. uta to nt e s ers e p are co mp an y |
07 4 |
55 .65 14 7.8 9 |
57 5.2 .20 34 |
97 6.8 06 |
65 .53 3.5 46 |
| 3. Mi rity in t ( 07 3-0 74 ) ter no es |
07 5 |
0 | 0 | 0 | 0 |
Consolidated quarterly financial statements for the period from Jan 01 to Jun 30 2017 (unaudited)
| Jan 01 2017 Sep 30 2017 for the period from to |
in HRK | ||
|---|---|---|---|
| Item | AOP label |
Jan 01 - Sep 30 2016 Jan 01 - Sep 30 2017 | |
| 1 | 2 | 3 | 4 |
| OPERATING ACTIVITIES | |||
| 1. Cash flow from operating activities before changes in assets (002 to 007) | 001 | 311.133.583 | 304.316.209 |
| 1.1. Profit/(loss) before tax | 002 | 147.390.920 | 2.846.100 |
| 1.2. Impairment losses and provisions | 003 | 151.719.362 | 276.288.015 |
| 1.3. Amortization and depreciation | 004 | 33.658.590 | 33.227.519 |
| 1.4. Net unrealised gains less losses from financial assets valued at fair value through profit or loss |
005 | (22.957.412) | (7.376.887) |
| 1.5. Gains / losses from sale of tangible assets | 006 | 144.555 | 1.452.852 |
| 1.6. Other gains / losses | 007 | 1.177.568 | (2.121.390) |
| 2. Net increase / decrease of operating assets (009 to 016) | 008 | (1.594.707.622) | (532.984.954) |
| 2.1. Deposits with the CNB | 009 | (94.697.304) | (713.804.766) |
| 2.2. Tresury bills of the Croatian Ministry of Finance | 010 | (111.685.601) | 896.501 |
| 2.3. Deposits with and loans to financial institutions | 011 | 27.771.602 | 337.436.309 |
| 2.4. Loans to other customers | 012 | (1.154.947.629) | (358.882.367) |
| 2.5. Financial assets held for trading | 013 | 31.538.957 | 105.144.798 |
| 2.6. Financial assets available for sale | 014 | (224.504.767) | 220.213.729 |
| 2.7. Financial assets valued at fair value through profit or loss, not actively traded | 015 | - | - |
| 2.8. Other operating assets | 016 | (68.182.880) | (123.989.158) |
| 3. Net increase / decrease of operating liabilities (018 to 021) | 017 | 1.480.961.995 | 128.183.271 |
| 3.1. Transactional accounts | 018 | 868.952.783 | 302.894.657 |
| 3.2. Savings and term deposits | 019 | 968.866.496 | (271.070.978) |
| 3.3. Derivative financial liabilities and other liabilities actively traded | 020 | 53.688 | (3.640.667) |
| 3.4. Ostale liabilities | 021 | (356.910.972) | 100.000.259 |
| 4. Net cash flow from operating activities before taxation | |||
| (001+008+017) | 022 | 197.387.956 | (100.485.474) |
| 5. Income tax paid | 023 | (199.988) | (1.065.525) |
| 6. Net cash inflow / outflow from operating activities (022+023) | 024 | 197.187.968 | (101.550.999) |
| INVESTING ACTIVITIES | |||
| 7. Net cash flow from investing activities (026 to 030) | 025 | 93.417.097 | 275.428.314 |
| 7.1. Purchase of tangible and intangible assets | 026 | (31.522.488) | (24.225.656) |
| 7.2. Investment in / disposal of subsidiaries, associated companies and joint ventures | 027 | - | - |
| 7.3. Investment in / disposal of financial assets held to maturity | 028 | 124.145.400 | 298.818.958 |
| 7.4. Dividends received | 029 | 794.185 | 835.012 |
| 7.5. Other inflows / outflows from investing activities | 030 | - | - |
| FINANCIAL ACTIVITIES | |||
| 8. Net cash flow from financial activities (032 to 037) | 031 | (252.221.125) | (52.110.989) |
| 8.1. Net increase / decrease of borrowings | 032 | (221.458.910) | (52.110.989) |
| 8.2. Net increase / decrease of issued debt securities | 033 | - | - |
| 8.3. Net increase / decrease of subordinated debt and hybrid instruments | 034 | - | - |
| 8.4. Share capital raised | 035 | - | - |
| 8.5. Dividends paid | 036 | (30.762.215) | - |
| 8.6. Other inflows / outflows from financial activities | 037 | - | - |
| 9. Net increase / decrease of cash and cash equivalents | 038 | 38.383.940 | 121.766.326 |
| (024+025+031) | |||
| 10. Effect of foreign exchange differences on cash and cash equivalents | 039 | (50.809) | 1.318.707 |
| 11. Net increase/(decrease) in cash and cash equivalents (038+039) | 040 | 38.333.131 | 123.085.033 |
| 12. Cash and cash equivalents at the beginning of the year | 041 | 412.197.218 | 421.479.852 |
| 13. Cash and cash equivalents as per reporting date (040+041) | 042 | 450.530.349 | 544.564.885 |
8
| for th e p |
eri od fro m |
Jan | 01 20 17 Sep 30 20 17 to |
in H RK |
|||||
|---|---|---|---|---|---|---|---|---|---|
| AO | Att ribu |
tab le t o th har eho e s |
f th lde nt c rs o e p are om |
pan y |
|||||
| Item | P labe l |
Sha api tal re c |
Ow har n s es |
Reg ulat , st atu tor ory y and oth er r ese rve s |
Ret ain ed nin ear gs |
Pro fit/( he per los s) f or t iod |
Fair lue va res erv e |
Min orit y in ter est |
Tot al e qui ty |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| Bala r Ja n 0 1 20 17 nce as pe |
001 | 1.2 14. 775 .00 0 |
( 477 .00 0) |
369 .78 3.8 58 |
86. 030 .54 2 |
190 .50 2.9 35 |
84. 690 .11 6 |
0 | 1.9 45. 305 .45 1 |
| Effe of c han in a unti olic ies cts ges cco ng p and tion s of co rrec err ors |
002 | 0 | 0 | 0 | ( 44. 875 .77 7) |
( 7.0 16. 311 ) |
0 | ( 51. 892 .08 8) |
|
| Res d b alan Ja n 0 1 20 17 ( 001 +00 2) tate ce as per |
003 | 1.2 14. 775 .00 0 |
( 0) 477 .00 |
369 .78 3.8 58 |
41. 154 .76 5 |
183 .48 6.6 24 |
84. 690 .11 6 |
1.8 93. 413 .36 3 |
|
| Disp l of fina ncia l as sets ilab le fo le osa ava r sa |
004 | 0 | 0 | 0 | 0 | 0 | ( 1.7 97. 966 ) |
( 1.7 97. 966 ) |
|
| Cha in t he f air v alue of fina ncia l as ilab le fo le sets nge ava r sa |
005 | 0 | 0 | 0 | 0 | 0 | 26. 249 .22 5 |
26. 249 .22 5 |
|
| Tax item nise d di ly rect on s re cog in/tr ferr ed f uity ans rom eq |
006 | 0 | 0 | 0 | 0 | 0 | ( ) 2.9 49. 849 |
( ) 2.9 49. 849 |
|
| Oth (los ) re ains and nise d di rect ly in uity er g ses cog eq |
007 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Net ins /(lo s) r gni sed dir ly in uity ect ga sse eco eq (00 05+ 7) 4+0 006 +00 |
008 | 0 | 0 | 0 | 0 | 0 | 21. 501 .41 0 |
0 | 21. 501 .41 0 |
| Los s fo r the riod pe |
009 | 0 | 0 | 0 | 0 | 976 .80 6 |
0 | 976 .80 6 |
|
| Tot al r gni zed inc nd e fo r th erio d eco om e a exp ens e p (00 09) 8+0 |
010 | 0 | 0 | 0 | 0 | 976 .80 6 |
21. 501 .41 0 |
0 | 22. 478 .21 6 |
| e/de Incr in s har pita l eas cre ase e ca |
011 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Purc has e/sa le o f ow har n s es |
012 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Oth han er c ges |
013 | 0 | 0 | 0 | ( ) 7.0 16. 311 |
7.0 16. 311 |
0 | 0 | |
| Tra nsf er t o re ser ves |
014 | 0 | 0 | 94. 272 .68 7 |
96. 230 .24 8 |
( 190 .50 2.9 35) |
0 | 0 | |
| Divi den ds p aid |
015 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| n (0 ) Pro fit a lloc atio 14+ 015 |
016 | 0 | 0 | 94. 272 .68 7 |
96. 230 .24 8 |
( 190 .50 2.9 35) |
0 | 0 | 0 |
| Bala r Ju n 3 0 20 17 ( 003 +01 0+0 11+ 012 +01 3+0 16) nce as pe |
017 | 1.2 14. 775 .00 0 |
( 0) 477 .00 |
464 .05 6.5 45 |
130 .36 8.7 02 |
976 .80 6 |
106 .19 1.5 26 |
0 | 1.9 15. 891 .57 9 |
| 1) INTEREST INCOME in HRK |
|||||||
|---|---|---|---|---|---|---|---|
| Jan 01 - Sep 30 2016 | Jan 01 - Sep 30 2017 | ||||||
| Cumulative | Quarterly | Cumulative | Quarterly | ||||
| Loans | 447.293.248 | 149.884.820 | 437.281.866 | 146.532.943 | |||
| Deposits | 1.246.756 | 333.541 | (1.597.265) | (327.405) | |||
| Securities | 100.216.873 | 32.847.558 | 75.849.331 | 23.502.934 | |||
| TOTAL | 548.756.877 | 183.065.919 | 511.533.932 | 169.708.472 |
| 2) INTEREST EXPENSE in HRK |
||||||
|---|---|---|---|---|---|---|
| Jan 01 - Sep 30 2016 | Jan 01 - Sep 30 2017 | |||||
| Cumulative | Quarterly | Cumulative | Quarterly | |||
| Borrowings | 14.704.787 | 4.895.140 | 10.407.829 | 3.503.033 | ||
| Deposits | 153.665.755 | 47.029.273 | 97.261.717 | 30.140.384 | ||
| TOTAL | 168.370.542 | 51.924.413 | 107.669.546 | 33.643.417 |
| Jan 01 - Sep 30 2016 | Jan 01 - Sep 30 2017 | ||||
|---|---|---|---|---|---|
| Cumulative | Quarterly | Cumulative | Quarterly | ||
| Cash payment operations - channels | 215.613.935 | 73.314.012 | 209.680.812 | 70.711.662 | |
| Retail and card operations | 111.738.124 | 47.424.857 | 144.588.009 | 71.725.253 | |
| Corporate operations | 41.541.276 | 14.749.499 | 42.789.117 | 15.066.923 | |
| Other fee and commission income | 13.138.222 | 4.588.507 | 15.748.360 | 5.836.164 | |
| TOTAL | 382.031.557 | 140.076.875 | 412.806.298 | 163.340.002 |
| Jan 01 - Sep 30 2016 | Jan 01 - Sep 30 2017 | ||||
|---|---|---|---|---|---|
| Cumulative | Quarterly | Cumulative | Quarterly | ||
| Payment operations | 214.816.633 | 73.574.948 | 211.950.286 | 72.721.364 | |
| Other fee and commission expense | 17.337.749 | 9.451.266 | 41.354.223 | 31.587.376 | |
| TOTAL | 232.154.382 | 83.026.214 | 253.304.509 | 104.308.740 |
| 5) GAINS LESS LOSSES FROM TRADING ACTIVITIES in HRK |
||||||
|---|---|---|---|---|---|---|
| Jan 01 - Sep 30 2016 | Jan 01 - Sep 30 2017 | |||||
| Cumulative | Quarterly | Cumulative | Quarterly | |||
| Securities and equity instruments | 24.483.973 | 21.509.539 | 10.092.945 | 9.287.858 | ||
| FX transactions | 33.561.065 | 12.831.643 | 28.464.166 | 10.811.781 | ||
| HRK cash transactions | 367.955 | 178.850 | 486.695 | 277.150 | ||
| Derivatives | (1.538.775) | (373.142) | (38.685) | (17.674) | ||
| TOTAL | 56.874.218 | 34.146.890 | 39.005.121 | 20.359.115 |
| Jan 01 - Sep 30 2016 | Jan 01 - Sep 30 2017 | ||||
|---|---|---|---|---|---|
| Cumulative | Quarterly | Cumulative | Quarterly | ||
| General and administrative expenses | 258.761.090 | 88.623.835 | 259.871.176 | 85.457.264 | |
| Amortization and depreciation | 33.658.590 | 11.744.223 | 33.227.519 | 10.781.555 | |
| Savings deposit insurance costs | 26.930.680 | 9.389.885 | 26.403.185 | 8.599.644 | |
| Other costs | 16.626.563 | 6.679.354 | 16.685.723 | 5.941.638 | |
| TOTAL | 335.976.923 | 116.437.297 | 336.187.603 | 110.780.101 |
| 7) IMPAIRMENT LOSSES AND PROVISION EXPENSES in HRK |
|||||||
|---|---|---|---|---|---|---|---|
| Jan 01 - Sep 30 2016 | Jan 01 - Sep 30 2017 | ||||||
| Cumulative | Quarterly | Cumulative | Quarterly | ||||
| Individually identified impairment losses | |||||||
| (risk group B i C) | 112.567.872 | 31.041.133 | 279.374.433 | 30.063.875 | |||
| Portfolio based provisions for identified losses (risk group A) | 13.091.364 | 7.578.475 | (96.818) | 204.656 | |||
| Other provisions | 26.060.126 | 9.085.087 | (2.989.600) | 8.985.491 | |||
| TOTAL | 151.719.362 | 47.704.695 | 276.288.015 | 39.254.022 |
| Dec 31 2016 | Sep 30 2017 | |
|---|---|---|
| CASH | 421.479.852 | 544.564.885 |
| DEPOSITS WITH THE CNB | 1.841.823.262 | 2.555.628.028 |
| Mandatory reserve | 1.300.796.321 | 1.272.024.572 |
| Account for transaction settlement | 541.026.941 | 1.283.603.456 |
| MANDATORY TREASURY BILLS | - | - |
| Portfolio based impairment allowance for identified losses | - | - |
| TOTAL | 2.263.303.114 | 3.100.192.913 |
| Dec 31 2016 | Sep 30 2017 | |
|---|---|---|
| Deposits with foreign banking institutions | 753.064.739 | 413.872.903 |
| Deposits with domestic banking institutions | 21.070.270 | 22.825.797 |
| Portfolio based impairment allowance for identified losses | - | - |
| TOTAL | 774.135.009 | 436.698.700 |
| 10) EQUITY INSTRUMENTS AND SECURITIES | in HRK |
|---|---|
| --------------------------------------- | -------- |
| Dec 31 2016 | Sep 30 2017 | |
|---|---|---|
| Short term Treasury bills of the Croatian Ministry of Finance | 415.536.615 | 414.640.114 |
| Financial assets held for trading | 696.314.398 | 598.546.487 |
| Financial assets available for sale | 2.630.574.528 | 2.388.859.389 |
| Financial assets held to maturity | 450.105.787 | 144.810.000 |
| Portfolio based impairment allowance for identified losses | (6.771.524) | (775.376) |
| Deferred front-end fee | (499.204) | (18.523) |
| TOTAL | 4.185.260.600 | 3.546.062.091 |
| Dec 31 2016 | Sep 30 2017 | |
|---|---|---|
| Gross loans | ||
| Loans to financial institutions | 81.583.376 | 77.628.719 |
| Loans to companies | 3.831.863.830 | 4.249.562.673 |
| Retail loans | 4.966.265.650 | 5.238.267.053 |
| therein: housing loans | 1.608.068.882 | 1.814.108.539 |
| Other loans | 4.040.077.723 | 3.824.774.457 |
| TOTAL GROSS LOANS | 12.919.790.579 | 13.390.232.902 |
| Impairment allowance | (1.280.732.419) | (1.389.557.868) |
| Portfolio based impairment allowance for identified losses | (104.459.180) | (113.076.502) |
| Deferred front-end fee | (46.082.502) | (43.959.749) |
| TOTAL | 11.488.516.478 | 11.843.638.783 |
| 12) DEPOSITS | in HRK | |
|---|---|---|
| Dec 31 2016 | Sep 30 2017 | |
| Financial institutions | 1.153.448.334 | 974.976.468 |
| Corporations | 3.009.235.694 | 3.208.376.691 |
| Retail | 9.166.235.142 | 9.223.392.810 |
| Other | 1.453.063.764 | 1.407.060.644 |
| TOTAL | 14.781.982.934 | 14.813.806.613 |
| in HRK 13) BORROWINGS |
||
|---|---|---|
| Dec 31 2016 | Sep 30 2017 | |
| Borrowings from HBOR | 624.696.401 | 656.194.033 |
| Borrowings from domestic banking institutions | - | - |
| Borrowings from domestic non-banking institutions | - | - |
| Borrowings from foreign banking institutions | 88.426.109 | 5.247.981 |
| Deferred front-end fee | (3.700.954) | (4.131.447) |
| TOTAL | 709.421.556 | 657.310.567 |
| 14) OTHER LIABILITIES | in HRK | |
|---|---|---|
| Dec 31 2016 | Sep 30 2017 | |
| Restricted deposits | 1.715.292.949 | 1.836.660.314 |
| Interest and fees payable | 58.731.565 | 53.846.505 |
| Provisions for off-balance sheet exposure | 22.291.290 | 40.954.420 |
| Other | 521.244.181 | 354.419.032 |
| TOTAL | 2.317.559.985 | 2.285.880.271 |
The Group's subsidiaries are as follows:
| Industry | Country | Ownership as per Sep 30 2017 (%) |
|
|---|---|---|---|
| HPB Invest d.o.o. | Investment Fund Management | Croatia | 100,00 |
| Real Estate Agency and | |||
| HPB Nekretnine d.o.o. | Construction | Croatia | 100,00 |
| HPB-Stambena štedionica d.d. | Savings Bank | Croatia | 100,00 |
Subsidiaries are consolidated in the Group's financial statements. HPB Invest d.o.o., HPB Nekretnine d.o.o., HPB-Stambena štedionica d.d. are fully consolidated.
There were no changes in accounting policies of the Group during the reporting period which might have impact on financial position or results of the Group.
Group has carried out a correcton of prior period error with regard to certain items in financial statements. In line with IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors, prior period financial reports have been restated.
Correction is related to a deduction from retained earnings for erroneously booked income from FX translation differences arising from foreign payment operations for a foreign partner, over the course of the period from Jan 01 2011 to Dec 31 2015, as well as correction of 2016 net profit for erroneously booked FX translation differences arising from aforementioned operations.
Corrections with regard to prior periods have been carried out during the current reporting period, error in booking has been eliminated, and P&L presented in these reports reflects correct effects of these transactions.
Effects arising from correction are presented below:
| Ite m |
31 .12 .20 16 as p er |
Re ffe sta tem t e cts en |
31 .12 .20 16 as p er |
|---|---|---|---|
| for be tat t e r es em en - |
aft tat t er res em en - |
||
| AS SE TS |
|||
| Ot he ( AO P 0 ) ts 16 r a sse |
87 9.4 44 .14 3 |
( 51 .89 2.0 88 ) |
82 52 .05 7.5 5 |
| EQ UIT Y |
|||
| / ( ) ( AO ) Pro fit los for th eri od P 0 37 s e p |
190 .50 2.9 35 |
( 1) 7.0 16 .31 |
183 .48 6.6 24 |
| Re tai d e ing ( AO P 0 ) 38 ne arn s |
86 .03 0.5 42 |
( ) 44 .87 5.7 77 |
41 .15 4.7 65 |
| Eff P& L s t fo r th eri od fro ts tat ec on em en e p m ( in HR K) |
Ja n 0 1. – Se 30 20 16 p : |
||
| Ite m |
01 .01 30 .09 .20 16 . - |
U čin ci lj j p rep rav an a |
01 .01 30 .09 .20 16 . - |
| Ga ins le lo fro ha di ffe ate ss ss es m ex ng e r ren ce ( ) AO P 0 63 |
be for tat t e r es em en - s |
aft tat t er res em en - |
|
| Pro fit /lo fo r th eri od ss |
5.2 07 .55 5 |
( 6.3 85 .12 3 ) |
( 1.1 .56 8 ) 77 |
| e p ( AO P 0 71 ) |
15 4.2 40 .78 2 |
( 6.3 85 .12 3 ) |
14 7.8 55 .65 9 |
In October 2017, by the date these reports have been published, events occured and indications occured that have an adverse effects on creditworthiness of one debtor to settle his obligations towards the Bank. Exposure towards this debtor as per Sep 30 2017 is classified as non-performing (NPL), and equals HRK 14.490 thousand, with recognized impairment equalling 10 percent. New assessment of recovery rate is being made presently, and Bank estimates that it should result in additional impairments during Q4 2017 in amount of approximately HRK 9 million.
Ownership structure of HPB p.l.c., the parent company of Group, as per Sep 30 2017 was as follows:
| Shareholder | Ownership stake |
|---|---|
| Republic of Croatia (Ministry of State Assets) | 42,43% |
| HP Hrvatska pošta Plc | 11,93% |
| State Agency for Deposit Insurance and Bank Resolution | 8,98% |
| Croatian Pension Insurance Insitute (Ministry of State Assets) | 8,76% |
| Prosperus Invest d.o.o., for Prosperus FGS | 4,94% |
| PBZ CROATIA OSIGURANJE OMF (B category) | 4,12% |
| ERSTE d.o.o. for ERSTE PLAVI OMF (B category) | 3,90% |
| Allianz ZB d.o.o., for AZ OMF (B category) | 2,88% |
| CROATIA osiguranje Plc | 2,47% |
| Fund for Financing the Decommissioning of the Krško Nuclear Power Plant and the Disposal of NEK Radioactive Waste and Spent Nuclear Fuel |
2,36% |
| RAIFFEISEN D.D., for Raiffeisen OMF (B category) | 2,20% |
| Minorities | 4,99% |
| Own shares | 0,04% |
HPB's share is listed on the Official Market of ZSE. The last price per share at the end of the reporting period was HRK 515,00 (Sep 27 2017) representing a decrease of 31,4% when compared to the last traded price in 2016 (HRK 751,00 on Dec 30 2016).
Trading during the reporting period was as follows:
Consolidated quarterly financial statements for the period from Jan 01 to Sep 30 2017 (unaudited)
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