Quarterly Report • Oct 30, 2018
Quarterly Report
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TRANSLATION
Unaudited
Zagreb, October 25 2018
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 2018.
This report includes:
Financial statements and notes have been compiled in accordance with instructions defined in Rulebook on format and content of interim financial reports of issuers (NN 47/2011). Accordingly, there can be certain differences between reporting items outlined in the statement on financial position – with regard to new IFRS 9 classificiation. However, all the effects of transactions recognized since Jan 01 2018 are presented in the income statement, as well as through other comprehensive income, in compliance with IFRS 9.
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). From current reporting period, Financial Statements of HPB Group include the results from newly acquired member – Jadranska banka d.d. Šibenik. Bank has successfully closed the acquisition of Jadranska banka at the begining of third quarter of 2018. Ownership transfer has been completed on July 12 2018, while on July 13 2018 HPB has injected HRK 110 million of new capital to Jadranska banka in order to achieve full compliance with applicable capital demands. Merger activities have been initiated.
Through the acquisition of Jadranska banka d.d., HPB's market share increased by more than 5% with the client base expansion of over 50,000 new clients. Acquisition of Jadranska banka will enable HPB to achieve stronger presence in Šibenik – Knin County, which according to the CBS estimates (2016) has 102,000 residents and the the opportunity for further growth in market share in the region as well as the Republic of Croatia as a whole.
Following the demanding 2017, parent company returned to the long-term profitability trend, contributing to the net profit of the Group in the amount of HRK 111.8 million, as opposed to the HRK 1.0 million in profit in the comparable period of 2017. Profitability improvements have been achieved owing to better collection and NPL coverage, resulting in significantly lower cost-of-risk.
Apart from HRK 123.4M of net profit achieved by the parent-company, HPB Invest recorded a net profit of HRK 699T, HPB-nekretnine added a net profit of HRK 722T. According to the relatively adverse effects from capital markets continued in third quarter, HPB-Stambena štedionica recorded a net loss amounting to HRK 906T, in spite of increasing volume and contribution of core operations to overall result. Following the acquisiton of Jadranska banka d.d. during July 2018, the Bank includes its results to the HPB Group results. In a period from July 13 to September 30, 2018 Jadranska banka d.d. realized a loss of HRK 12.0M which is continously decreased from the inclusion date.
On behalf of HPB p.l.c., the parent company of HPB Group :
Tomislav Vuić CEO
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 2018, 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.
On behalf of HPB p.l.c., the parent company of HPB Group :
Tea Bažant Head of Finance Division Tomislav Vuić CEO
| HPB GROUP | |||||
|---|---|---|---|---|---|
| Appendix 3. Reporting period: |
Jan 01 | to | Sep 30 2018 | ||
| 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: | 1.354 | ||
| 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 | |||
| JADRANSKA BANKA dioničko društvo | Ante Starčevića 4, Šibenik | 03019349 | |||
| Book-keeping service | |||||
| provided by: | n/a | n/a | |||
| Contact: | Bažant Tea | ||||
| Phone: 014804670 | Fax: | 014804594 | |||
| E-mail address: [email protected] | |||||
| Surname and name: Vuić Tomislav | |||||
| (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
| Sep 30 2018 as per |
in HRK | ||
|---|---|---|---|
| Item | AOP label |
Dec 31 2017 | Sep 30 2018 |
| 1 | 2 | 3 | 4 |
| ASSSETS | |||
| 1. CASH AND DEPOSITS WITH THE CNB (002+003) | 001 | 4.391.466.871 | 3.938.374.353 |
| 1.1.Cash | 002 | 460.024.014 | 608.733.627 |
| 1.2.Deposits with the CNB | 003 | 3.931.442.857 | 3.329.640.726 |
| 2. DEPOSITS WITH FINANCIAL INSTITUTIONS | 004 | 473.330.331 | 1.076.526.361 |
| 3. SHORT-TERM TREASURY BILLS OF THE CROATIAN MINISTRY OF FINANCE | 005 | 324.931.405 | 273.389.007 |
| 4. FINANCIAL ASSETS HELD FOR TRADING | 006 | 654.815.717 | 741.465.394 |
| 5. FINANCIAL ASSETS AVAILABLE FOR SALE | 007 | 2.459.982.241 | 4.069.261.488 |
| 6. FINANCIAL ASSETS HELD TO MATURITY | 008 | 72.345.457 | 68.219.282 |
| 7. FINANCIAL ASSETS VALUED AT FAIR VALUE THROUGH PROFIT OR LOSS, | |||
| NOT ACTIVELY TRADED | 009 | - | 81.912 |
| 8. DERIVATIVE FINANCIAL ASSETS | 010 | - | 30.179 |
| 9. LOANS TO FINANCIAL INSTITUTIONS | 011 | 62.450.000 | 106.021.781 |
| 10. LOANS TO OTHER CUSTOMERS | 012 | 11.013.731.914 | 11.966.519.412 |
| 11. INVESTMENTS IN SUBSIDIARIES, ASSOCIATED COMPANIES AND JOINT VENTURES | 013 | 20.000.000 | 20.000.000 |
| 12. REPOSSESSED ASSETS | 014 | - | 4.702.677 |
| 13. TANGIBLE ASSETS (LESS DEPRECIATION) | 015 | 141.615.708 | 149.848.770 |
| 14. OTHER ASSETS | 016 | 455.167.665 | 486.488.731 |
| A) TOTAL ASSETS (001+004 to 016) | 017 | 20.069.837.309 | 22.900.929.347 |
| LIABILITIES | |||
| 1. BORROWINGS FROM FINANCIAL INSTITUTIONS (019+020) | 018 | 651.970.981 | 733.433.800 |
| 1.1. Short-term | 019 | - | 0 |
| 1.2. Long-term | 020 | 651.970.981 | 733.433.800 |
| 2. DEPOSITS (022 to 024) | 021 | 15.389.912.890 | 17.897.454.751 |
| 2.1. Transactional and current accounts | 022 | 5.125.557.660 | 6.726.748.421 |
| 2.2. Savings deposits (demand) | 023 | 1.538.006.561 | 2.521.734.496 |
| 2.3. Term deposits | 024 | 8.726.348.669 | 8.648.971.834 |
| 3. OTHER BORROWINGS (026+027) | 025 | 20.286.850 | 37.120.075 |
| 3.1. Short-term | 026 | - | - |
| 3.2. Long-term | 027 | 20.286.850 | 37.120.075 |
| 4. DERIVATIVE AND OTHER FINANCIAL LIABILITIES HELD FOR TRADING | 028 | - | - |
| 5. ISSUED SECURITIES (030+031) | 029 | - | - |
| 5.1. Short-term | 030 | - | - |
| 5.2. Long-term | 031 | - | - |
| 6. SUBORDINATED DEBT ISSUED | 032 | - | - |
| 7. HYBRID INSTRUMENTS | 033 | - | - |
| 8. OTHER LIABILITIES | 034 | 2.096.847.345 | 2.221.231.695 |
| B) TOTAL LIABILITIES (018+021+025+028+029+032+033+034) | 035 | 18.159.018.066 | 20.889.240.321 |
| EQUITY | |||
| 1. SHARE CAPITAL | 036 | 1.214.298.000 | 1.214.298.000 |
| 2. PROFIT/(LOSS) FOR THE PERIOD | 037 | 7.898.428 | 111.830.601 |
| 3. RETAINED EARNINGS | 038 | 130.368.702 | 137.850.457 |
| 4. REGULATORY RESERVES | 039 | 15.708.724 | 16.125.397 |
| 5. STATUTARY AND OTHER CAPITAL RESERVES | 040 | 448.288.175 | 418.531.835 |
| 6. FAIR VALUE RESERVE | 041 | 94.257.214 | 113.052.736 |
| 7. RESERVES ARISING FROM HEDGING TRANSACTIONS | 042 | - | 0 |
| C) TOTAL EQUITY (036 to 042) | 043 | 1.910.819.243 | 2.011.689.026 |
| D) TOTAL LIABILITIES AND EQUITY (035+043) | 044 | 20.069.837.309 | 22.900.929.347 |
| P R O F I T O R L O S S S T A T E M E N T |
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| ------------------------------------------------------------------------------------------------------- |
| Ja n 0 1 2 0 18 for th iod fr to e p er om |
Se 3 0 20 18 p |
in H R K |
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|---|---|---|---|---|---|---|
| Ite m |
lab | AO P el |
Se Ja n 0 1 - |
30 20 17 p |
Se Ja n 0 1 - |
30 20 18 p |
| Cu lat ive mu |
Qu ly art er |
Cu lat ive mu |
Qu ly art er |
|||
| 1 | 2 | 3 | 4 | 5 | 6 | |
| 1 Int inc st ere om e |
0 | 48 | 11 3 3. 9 3 2 5 .5 |
16 9.7 0 8. 47 2 |
48 0.5 0 3. 23 5 |
16 8. 23 2.4 0 6 |
| Int 2 st ere ex p en se |
0 | 49 | 10 7.6 6 9.5 46 |
3 3. 6 43 .41 7 |
8 4.6 0 2.1 5 8 |
26 .8 42 .37 2 |
| 3 Ne int inc ( 0 48 -0 49 ) t st ere om e |
0 | 5 0 |
40 3. 8 6 4.3 8 6 |
13 6. 0 6 5. 0 5 5 |
3 9 5. 9 0 1.0 77 |
14 1.3 9 0. 0 3 4 |
| 4 Fe d c iss ion inc e a n om m om e |
0 | 5 1 |
41 2.8 0 6. 29 8 |
16 3. 3 40 .0 0 2 |
41 1.9 3 4.3 70 |
16 3. 25 9. 6 3 8 |
| Fe d c iss ion 5 e a n om m ex p en se |
0 | 5 2 |
25 3. 3 0 4.5 0 9 |
10 4.3 0 8.7 40 |
24 7.4 5 6. 8 9 8 |
97 .46 0.5 15 |
| 6 Ne fee d c iss ion inc ( 0 5 1-0 5 2 ) t an om m om e |
0 | 5 3 |
1 5 9. 5 0 1.7 8 9 |
5 9. 0 3 1.2 6 2 |
16 4.4 .47 2 77 |
6 5. 79 9. 12 3 |
| Ga 7 ins les los is ing fro inv in bs i d iar ies iat d c tm ts s se s a r m es en su , a ss oc e om p an j int ntu o ve res |
ies d an 0 |
5 4 |
- | - | - | - |
| Ga 8 ins les los fro d ing iv it ies tra t s se s m ac |
0 | 5 5 |
3 9. 0 05 .12 1 |
20 .35 9. 11 5 |
35 .8 49 .29 3 |
18 .22 0.5 44 |
| Ga 9 ins les los fro bu i lt- in de iva ive t s se s m r s |
0 | 5 6 |
- | - | - | - |
| 10 Ga ins les los is ing fro f ina ia l a lue d a fa ir v lue hro h P & L, ets t t s se s a r m nc ss va a ug ive ly de d t a ct tra no |
0 | 5 7 |
- | - | ( ) 2.0 6 0 |
( ) 2.0 6 0 |
| Ga ins les los is ing fro it ies i la b le for le 11 s se s a r m se cu r av a sa |
0 | 5 8 |
5. 45 7.4 9 2 |
- | - | - |
| Ga 12 ins les los is ing fro it ies he l d t ity atu s se s a r m se cu r o m r |
0 | 5 9 |
- | - | - | - |
| 13 Ga ins les los is ing fro he dg ing iv it ies t s se s a r m ac |
0 | 6 0 |
- | - | - | - |
| Inc fro inv in bs i d iar ies iat d c ies d j int 14 tm ts ntu om e m es en su , a ss oc e om p an an o ve |
0 res |
6 1 |
- | - | - | - |
| fro 15 Inc he ity ins ot tru nts om e m r e q u me |
0 | 6 2 |
8 35 .0 12 |
19 .35 9 |
9 6 3.5 9 4 |
16 0. 45 3 |
| 16 Ga ins les los fro ha d i f fer ate s se s m exc ng e r en ce s |
0 | 6 3 |
2.1 21 .3 9 0 |
1.9 3 9.5 67 |
( 79 4.1 9 8 ) |
26 6.5 95 |
| Ot he inc 17 r om e |
0 | 6 4 |
4.5 3 6.5 28 |
( ) 5 2.2 76 |
12 .48 1.2 5 0 |
9. 15 3. 87 6 |
| Ot 18 he ing t sts r o p era co |
0 | 6 5 |
43 .0 8 8. 9 0 8 |
14 .5 41 .28 2 |
49 .8 9 9. 25 3 |
15 .44 3. 0 10 |
| 19 Ge l a d a dm in ist ive iza ion d de iat ion rat ort t ne ra n ex p en se s, am an p rec |
0 | 6 6 |
29 3. 0 9 8. 6 95 |
9 6. 23 8. 8 19 |
3 10 .8 22 .45 7 |
10 9. 8 3 1.9 2 5 |
| 20 Op ing f it ( 0 5 0+ 0 5 3 t 0 6 4-0 6 5- 0 6 6 ) at er p ro o |
0 | 6 7 |
5 27 9. 13 4.1 1 |
5 10 6. 8 1.9 8 1 |
5 24 8. 1 4.7 18 |
10 9. 71 3. 6 0 3 |
| 21 Im irm los d p is ion t p a en se s a n rov s |
0 | 6 8 |
27 6. 28 8. 0 15 |
3 9. 25 4.0 22 |
10 8. 0 3 9. 45 8 |
85 .25 4.3 8 8 |
| / ( S S ) ( ) 22 P R O F I T L O B E F O R E T A X 0 6 7-0 6 8 |
0 | 6 9 |
2.8 46 .10 0 |
6 7.3 27 .9 5 9 |
14 0. 11 5. 26 0 |
24 .4 5 9. 21 5 |
| 23 I N C O M E T A X E X P E N S E / D E F E R R E D T A X |
07 0 |
1.8 6 9. 29 4 |
1.7 9 4.4 13 |
28 .28 4.6 9 5 |
6. 8 22 .6 8 2 |
|
| 24 N E T P R O F I T / ( L O S S ) F O R T H E P E R I O D ( 0 6 9- 0 70 ) |
0 | 71 | 9 76 .8 0 6 |
6 5. 5 3 3. 5 46 |
11 1.8 3 0. 6 0 1 |
17 .6 3 6. 5 3 3 |
| 25 Ea ing ha rn s p er s re |
0 | 72 | 0 | 3 2 |
55 | 9 |
| for the period from | Jan 01 2018 | to | Sep 30 2018 | in HRK | ||
|---|---|---|---|---|---|---|
| Item | AOP | Jan 01 - Sep 30 | Jan 01 - Sep 30 | |||
| label | 2017 | 2018 | ||||
| 1 | 2 | 3 | 4 | |||
| OPERATING ACTIVITIES | ||||||
| 1. Cash flow from operating activities before changes in assets (002 to 007) | 001 | 304.316.209 | 298.209.396 | |||
| 1.1. Profit/(loss) before tax | 002 | 2.846.100 | 140.115.260 | |||
| 1.2. Impairment losses and provisions | 003 | 276.288.015 | 108.039.458 | |||
| 1.3. Amortization and depreciation | 004 | 33.227.519 | 35.645.637 | |||
| 1.4. Net unrealised gains less losses from financial assets valued at fair value through profit or loss |
005 | (7.376.887) | 4.834.194 | |||
| 1.5. Gains / losses from sale of tangible assets | 006 | 1.452.852 | 8.780.649 | |||
| 1.6. Other gains / losses | 007 | (2.121.390) | 794.198 | |||
| 2. Net increase / decrease of operating assets (009 to 016) | 008 | (532.984.954) | (2.736.942.916) | |||
| 2.1. Deposits with the CNB | 009 | (713.804.766) | 601.802.131 | |||
| 2.2. Tresury bills of the Croatian Ministry of Finance | 010 | 896.501 | 51.542.398 | |||
| 2.3. Deposits with and loans to financial institutions | 011 | 337.436.309 | (603.196.030) | |||
| 2.4. Loans to other customers | 012 | (358.882.367) | (981.768.272) | |||
| 2.5. Financial assets held for trading | 013 | 105.144.798 | (91.483.871) | |||
| 2.6. Financial assets available for sale | 014 | 220.213.729 | (1.628.074.769) | |||
| 2.7. Financial assets valued at fair value through profit or loss, not actively traded | 015 | - | ||||
| 2.8. Other operating assets | 016 | (123.989.158) | (85.764.503) | |||
| 3. Net increase / decrease of operating liabilities (018 to 021) | 017 | 128.183.271 | 2.631.926.211 | |||
| 3.1. Transactional accounts | 018 | 302.894.657 | 1.601.190.761 | |||
| 3.2. Savings and term deposits | 019 | (271.070.978) | 906.351.100 | |||
| 3.3. Derivative financial liabilities and other liabilities actively traded | 020 | (3.640.667) | 0 | |||
| 3.4. Ostale liabilities | 021 | 100.000.259 | 124.384.350 | |||
| 4. Net cash flow from operating activities before taxation (001+008+017) |
022 | (100.485.474) | 193.192.691 | |||
| 5. Income tax paid | 023 | (1.065.525) | (537.596,00) | |||
| 6. Net cash inflow / outflow from operating activities (022+023) | 024 | (101.550.999) | 192.655.095 | |||
| INVESTING ACTIVITIES | ||||||
| 7. Net cash flow from investing activities (026 to 030) | 025 | 275.428.314 | (142.311.215) | |||
| 7.1. Purchase of tangible and intangible assets | 026 | (24.225.656) | (26.135.984) | |||
| 7.2. Investment in / disposal of subsidiaries, associated companies and joint ventures | 027 | - | (121.265.000) | |||
| 7.3. Investment in / disposal of financial assets held to maturity | 028 | 298.818.958 | 4.126.175 | |||
| 7.4. Dividends received | 029 | 835.012 | 963.594 | |||
| 7.5. Other inflows / outflows from investing activities | 030 | - | ||||
| FINANCIAL ACTIVITIES | ||||||
| 8. Net cash flow from financial activities (032 to 037) | 031 | (52.110.989) | 98.296.044 | |||
| 8.1. Net increase / decrease of borrowings | 032 | (52.110.989) | 98.296.044 | |||
| 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 | - | ||||
| 8.6. Other inflows / outflows from financial activities | 037 | - | ||||
| 9. Net increase / decrease of cash and cash equivalents | ||||||
| (024+025+031) | 038 | 121.766.326 | 148.639.924 | |||
| 10. Effect of foreign exchange differences on cash and cash equivalents | 039 | 1.318.707 | 69.689 | |||
| 11. Net increase/(decrease) in cash and cash equivalents (038+039) | 040 | 123.085.033 | 148.709.613 | |||
| 12. Cash and cash equivalents at the beginning of the year | 041 | 421.479.852 | 460.024.014 | |||
| 13. Cash and cash equivalents as per reporting date (040+041) | 042 | 544.564.885 | 608.733.627 |
| for th e p |
eri od fro m |
Jan 01 |
20 18 |
to | Se 30 p |
201 8 |
in H RK |
||
|---|---|---|---|---|---|---|---|---|---|
| AO | Att ribu |
tab le t o th har eho e s |
lde f th nt c rs o e p are om |
pan y |
|||||
| Item | P lab el |
Sha api tal re c |
Ow har n s es |
Reg ulat , st atu tor ory y and oth er res erv es |
Ret ain ed nin ear gs |
Pro fit/( he per los s) f or t iod |
Fair lue va re ser ve |
Min orit y in ter est |
Tot al e qui ty |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| Bal er J 01 2 018 anc e a s p an |
001 | 1.2 14. 775 .00 0 |
( 477 .00 0) |
463 .99 6.8 99 |
130 .36 8.7 02 |
7.8 98. 428 |
94. 257 .21 4 |
- | 1.9 10. 819 .24 3 |
| Effe of c cts han in a unti olic ies ges cco ng p and tion s of co rrec err ors |
002 | (57 .23 3.4 43) |
(57 43) .23 3.4 |
||||||
| Res tate d b ala r Ja n 0 1 20 18 ( 001 +00 2) nce as pe |
003 | 1.2 14. 775 .00 0 |
( 477 .00 0) |
406 .76 3.4 56 |
130 .36 8.7 02 |
7.8 98. 428 |
94. 257 .21 4 |
- | 1.8 53. 585 .80 0 |
| Disp l of fina ncia l as aila ble for sale sets osa av |
004 | - | - | ||||||
| Cha in t he f air v alue of fina ncia l as aila ble for sale sets nge av |
005 | 21. 032 .77 7 |
21. 032 .77 7 |
||||||
| Tax item nise d d irec tly on s re cog in/tr ferr ed f uity ans rom eq |
006 | ( 2.2 37. 255 ) |
( 2.2 37. 255 ) |
||||||
| Oth ains d (lo s) r gnis ed d irec tly i uity er g an sse eco n eq |
007 | - | |||||||
| Net ins /(lo s) r gni sed dir ly in uity ect ga sse eco eq (00 4+0 05+ 006 +00 7) |
008 | - | - | - | - | - | 18. 795 .52 2 |
- | 18. 795 .52 2 |
| Los s fo r th riod e pe |
009 | 111 .83 0.6 01 |
111 .83 0.6 01 |
||||||
| Tot al r gni zed inc nd e fo r th eri od eco om e a exp ens e p (00 09) 8+0 |
010 | - | - | - | - | 111 .83 0.6 01 |
18. 795 .52 2 |
- | 130 .62 6.1 23 |
| e/de Incr in s har pita l eas cre ase e ca |
011 | - | |||||||
| Pur cha se/s ale of o sh w n are s |
012 | - | |||||||
| Oth han er c ges |
013 | 27. 477 .10 3 |
27. 477 .10 3 |
||||||
| Tra nsf er t o re ser ves |
014 | 416 .67 3 |
755 7.4 81. |
(7. 898 .42 8) |
- | ||||
| Divi den ds p aid |
015 | - | |||||||
| Pro fit a lloc atio n (0 14+ 015 ) |
016 | - | - | 3 416 .67 |
755 7.4 81. |
) ( 7.8 98. 428 |
- | - | - |
| ing Bal er t he ort da te anc e a s p rep (00 3+0 10+ 011 +01 2+0 13+ 016 ) |
017 | 775 1.2 14. .00 0 |
( 0) 477 .00 |
.65 434 7.2 32 |
.85 57 137 0.4 |
111 .83 0.6 01 |
.05 113 2.7 36 |
- | 2.0 11. 689 .02 6 |
| 1) INTEREST INCOME in HRK |
||||||||
|---|---|---|---|---|---|---|---|---|
| Jan 01 - Sep 30 2017 | Jan 01 - Sep 30 2017 | |||||||
| Cumulative | Quarterly | Cumulative | Quarterly | |||||
| Loans | 437.281.866 | 146.532.943 | 409.345.637 | 138.736.354 | ||||
| Deposits | (1.597.265) | (327.405) | 1.048.269 | 410.541 | ||||
| Securities | 75.849.331 | 23.502.934 | 70.109.329 | 29.085.511 | ||||
| TOTAL | 511.533.932 | 169.708.472 | 480.503.235 | 168.232.406 |
| 2) INTEREST EXPENSE in HRK |
|||||||
|---|---|---|---|---|---|---|---|
| Jan 01 - Sep 30 2017 | Jan 01 - Sep 30 2017 | ||||||
| Cumulative | Quarterly | Cumulative | Quarterly | ||||
| Borrowings | 10.407.829 | 3.503.033 | 17.455.110 | 11.069.941 | |||
| Deposits | 97.261.717 | 30.140.384 | 67.147.048 | 15.772.431 | |||
| TOTAL | 107.669.546 | 33.643.417 | 84.602.158 | 26.842.372 |
| 3) FEE AND COMMISSION INCOME in HRK |
||||||||
|---|---|---|---|---|---|---|---|---|
| Jan 01 - Sep 30 2017 | Jan 01 - Sep 30 2017 | |||||||
| Cumulative | Quarterly | Cumulative | Quarterly | |||||
| Cash payment operations - channels | 209.680.812 | 70.711.662 | 200.094.105 | 67.984.445 | ||||
| Retail and card operations | 144.588.009 | 71.725.253 | 149.105.743 | 72.057.835 | ||||
| Corporate operations | 42.789.117 | 15.066.923 | 46.804.747 | 17.364.787 | ||||
| Other fee and commission income | 15.748.360 | 5.836.164 | 15.929.775 | 5.852.571 | ||||
| TOTAL | 412.806.298 | 163.340.002 | 411.934.370 | 163.259.638 |
| 4) FEE AND COMMISSION EXPENSE in HRK |
|||||||
|---|---|---|---|---|---|---|---|
| Jan 01 - Sep 30 2017 | Jan 01 - Sep 30 2017 | ||||||
| Cumulative | Quarterly | Cumulative | Quarterly | ||||
| Payment operations | 211.950.286 | 72.721.364 | 200.914.917 | 69.069.160 | |||
| Other fee and commission expense | 41.354.223 | 31.587.376 | 46.541.981 | 28.391.355 | |||
| TOTAL | 253.304.509 | 104.308.740 | 247.456.898 | 97.460.515 |
| Jan 01 - Sep 30 2017 | Jan 01 - Sep 30 2017 | ||||
|---|---|---|---|---|---|
| Cumulative | Quarterly | Cumulative | Quarterly | ||
| Securities and equity instruments | 10.092.945 | 9.287.858 | (3.574.337) | 2.222.124 | |
| FX transactions | 28.464.166 | 10.811.781 | 37.851.499 | 15.337.431 | |
| HRK cash transactions | 486.695 | 277.150 | 288.040 | 136.960 | |
| Derivatives | (38.685) | (17.674) | 1.284.091 | 524.029 | |
| TOTAL | 39.005.121 | 20.359.115 | 35.849.293 | 18.220.544 |
| Jan 01 - Sep 30 2017 | Jan 01 - Sep 30 2017 | ||||
|---|---|---|---|---|---|
| Cumulative | Quarterly | Cumulative | Quarterly | ||
| General and administrative expenses | 259.871.176 | 85.457.264 | 275.176.821 | 97.215.648 | |
| Amortization and depreciation | 33.227.519 | 10.781.555 | 35.645.637 | 12.616.305 | |
| Savings deposit insurance costs | 26.403.185 | 8.599.644 | 28.253.439 | 10.212.736 | |
| Other costs | 16.685.723 | 5.941.638 | 21.645.813 | 5.230.273 | |
| TOTAL | 336.187.603 | 110.780.101 | 360.721.710 | 125.274.962 |
| Jan 01 - Sep 30 2017 | Jan 01 - Sep 30 2017 | ||||
|---|---|---|---|---|---|
| Cumulative | Quarterly | Cumulative | Quarterly | ||
| Impairments and provisions for losses | 279.277.615 | 30.268.531 | 76.736.564 | 61.411.855 | |
| Other impairments and adjstuments | (2.989.600) | 8.985.491 | 31.302.894 | 23.842.533 | |
| TOTAL | 276.288.015 | 39.254.022 | 108.039.458 | 85.254.388 |
| 8) CASH AND DEPOSITS WITH THE CNB | in HRK | |
|---|---|---|
| Dec 31 2017 | Sep 30 2018 | |
| CASH | 460.024.014 | 608.733.627 |
| DEPOSITS WITH THE CNB | 3.931.442.857 | 3.332.739.263 |
| Mandatory reserve | 1.300.268.691 | 1.514.172.204 |
| Account for transaction settlement | 2.631.174.166 | 1.818.567.059 |
| MANDATORY TREASURY BILLS | - | - |
| Portfolio based impairment allowance for identified losses | - | (3.098.537) |
| TOTAL | 4.391.466.871 | 3.938.374.353 |
| Dec 31 2017 | Sep 30 2018 | |
|---|---|---|
| Deposits with foreign banking institutions | 449.961.251 | 958.984.091 |
| Deposits with domestic banking institutions | 23.369.080 | 120.341.812 |
| Portfolio based impairment allowance for identified losses | - | (2.799.542) |
| TOTAL | 473.330.331 | 1.076.526.361 |
| 10) EQUITY INSTRUMENTS AND SECURITIES | in HRK | |
|---|---|---|
| Dec 31 2017 | Sep 30 2018 | |
| Short term Treasury bills of the Croatian Ministry of Finance | 324.931.405 | 273.389.007 |
| Financial assets held for trading | 654.815.717 | 741.465.394 |
| Financial assets available for sale | 2.459.982.241 | 4.069.261.488 |
| Financial assets held to maturity | 73.139.356 | 68.221.429 |
| Financial assets valued at fair value through profit or loss, not | ||
| actively traded | - | 81.912 |
| Portfolio based impairment allowance for identified losses | (775.376) | - |
| Deferred front-end fee | (18.523) | (2.147) |
| TOTAL | 3.512.074.820 | 5.152.335.171 |
| 11) LOANS TO CUSTOMERS | in HRK | |
|---|---|---|
| Dec 31 2017 | Sep 30 2018 | |
| Loans to financial institutions | 62.450.000 | 106.021.781 |
| Bruto krediti | 62.454.545 | 106.026.989 |
| Ispravci vrijednosti | (4.545) | (5.208) |
| Corporate & SME loans | 2.942.304.493 | 3.777.042.661 |
| Bruto krediti | 3.902.668.309 | 4.772.544.074 |
| Ispravci vrijednosti | (960.363.816) | (995.501.413) |
| Retail loans | 5.036.923.707 | 5.553.606.806 |
| Bruto krediti | 5.333.998.299 | 5.905.355.946 |
| Ispravci vrijednosti | (297.074.592) | (351.749.140) |
| Other loans | 3.192.134.584 | 2.855.143.093 |
| Bruto krediti | 3.198.303.415 | 2.862.822.387 |
| Ispravci vrijednosti | (6.168.831) | (7.679.294) |
| Portfolio based impairment allowance for identified losses | (118.064.812) | 0 |
| Expected credit losses (A1 and A2 risk groups) | - | (175.622.773) |
| Other adjustments | - | (10.988.871) |
| Deferred front-end fee | (39.566.058) | (32.661.504) |
| LOANS TO CUSTOMERS | 11.076.181.914 | 12.072.541.193 |
| 12) DEPOSITS | in HRK | |
|---|---|---|
| Dec 31 2017 | Sep 30 2018 | |
| Financial institutions | 1.116.153.667 | 1.356.049.725 |
| Corporations | 3.574.264.999 | 3.793.291.344 |
| Retail | 9.282.809.836 | 11.187.557.321 |
| Other | 1.416.684.388 | 1.560.556.361 |
| TOTAL | 15.389.912.890 | 17.897.454.751 |
| 13) BORROWINGS | in HRK | |
|---|---|---|
| Dec 31 2017 | Sep 30 2018 | |
| Borrowings from HBOR | 656.196.151 | 622.124.856 |
| Borrowings from domestic banking institutions | - | 115.000.000 |
| Borrowings from domestic non-banking institutions | - | - |
| Borrowings from foreign banking institutions | 20.286.850 | 37.120.075 |
| Deferred front-end fee | (4.225.170) | (3.691.056) |
| TOTAL | 672.257.831 | 770.553.875 |
| 14) OTHER LIABILITIES | in HRK | |
|---|---|---|
| Dec 31 2017 | Sep 30 2018 | |
| Restricted deposits | 1.786.812.843 | 1.884.823.340 |
| Interest and fees payable | 48.664.624 | 64.643.740 |
| Provisions for off-balance sheet exposure | 25.193.152 | 30.557.965 |
| Other | 236.176.726 | 241.206.650 |
| TOTAL | 2.096.847.345 | 2.221.231.695 |
During the reporting period, Group has transitioned to new reporting standard IFRS 9 "Financial instruments". Standard supplants the old IAS 39: "Financial instruments: classification and measurement" and consists of conditions relating to classification and measurement, impairment, derecognition and hedge accounting in general.
Classification and measurement – IFRS 9 introduces a new approach to classification of financial assets, based on cash flow features and business model in which certain financial assets is maintained. New model introduces the unique model of impairment.
Impairment – IFRS 9 introduces the new model of impairment based on expected losses. This model instructs that expected credit losses should be recorded in a more timely manner.
Hedge accounting - IFRS 9 brings significant changes to hedge accounting. Based on this changes, more information must be disclosed about risk management activities.
Bank and its subsidiaries have initiated the project of IFRS 9 implementation in 2016, and have succeeded in implementing it with first adoption as of Jan 01 2018.
From the impairment aspect, adoption of this standard has significant effects on the Group's capital. Migration from IAS 39 to IFRS 9 resulted in an initial effect on the Group's capital reserves amounting to HRK 57.233 thousand (reduction).
Ownership structure of HPB p.l.c., parent company of HPB Group as per Sep 30 2018 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% |
From July 13, 2018 Jadranska banka d.d. becomes an integral part of the HPB Group. After the acquisition, the HPB has injected HRK 110 million of new capital to Jadranska banka in order to meet regulatory requirements of Croatian National Bank. The Bank started process of merging Jadranska banka d.d. From the acquisition until reporting period, Jadranska banka d.d., Šibenik reported a net loss of HRK 12.0 million. The business result of Jadranska banka is continuously improving since it becomes part of HPB Group and the same trend is expected in the future. On the side of the sources of funds, Jadranska banka d.d. contributes to HRK 1,543 million in customer deposits, representing 8.6% of total deposits of the Group.
TRANSLATION
last price in HRK
HPB Stock is listed on ZSE's Official market. Last share price at the end of the 2018 reporting period amounted to HRK 515,00 (trading day Sep 25 2018), representing an increase of 1,8 percent in comparison with the last price achieved in 2017 (=HRK 506,00 as per Dec 29 2017 trading day).
400,00 450,00 500,00 550,00 600,00 02.01.18 16.01.18 30.01.18 13.02.18 27.02.18 13.03.18 27.03.18 10.04.18 24.04.18 08.05.18 22.05.18 05.06.18 19.06.18 03.07.18 17.07.18 31.07.18 14.08.18 28.08.18 11.09.18 25.09.18 min. ytd 2018: HRK 484.00 (Mar 28) max. ytd 2018: HRK 550.00 (Jan 22, Apr 30, May 3)
Trading during the reporting period was as follows:
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