Annual / Quarterly Financial Statement • Feb 27, 2019
Annual / Quarterly Financial Statement
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TRANSLATION
Unaudited
Zagreb, February 27 2019
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 Dec 31 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), HPB-nekretnine (real estate agency) and Jadranska banka d.d. Šibenik which is a member of a group from July 2018.
In February 2019 a contract was signed for merging Jadranska banka d.d. Šibenik with its parent company, HPB. Integration process will be finished in a first half of 2019.
Throughout 2018 the Group recorded net profit of HRK 126.3M. The Group recorded solid profitability in the environment of low interest rates and preparation activites for the acquisition of Jadranska banka d.d., owing to increased collection activities, better credit risk management and good NPL coverage.
Net profit is mainly consisted of parent-company result, apart from, HPB Invest recorded a net profit of HRK 905T, HPB-nekretnine added a net profit of HRK 949T. According to the relatively adverse effects from capital markets continued in fourth quarter, HPB-Stambena štedionica recorded a net loss amounting to HRK 4.1M, 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 to December 2018 Jadranska banka d.d. realized a loss of HRK 21.6M which was inevitable regardless the effort of rational cost management.
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 Dec 31 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
| Appendix 3. Reporting period: |
Jan 01 to |
Dec 31 2018 | |
|---|---|---|---|
| Quarterly financial statements for credit institutions TFI-KI | |||
| Registration number (MB): 03777928 |
|||
| Registration number (MBS): 080010698 |
|||
| Personal identification 87939104217 number (OIB): |
|||
| 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: | 1.343 | |
| 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 |
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| 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
| as per Dec 31 2018 |
in HRK | ||
|---|---|---|---|
| Item | AOP label |
Dec 31 2017 | Dec 31 2018 |
| 1 | 2 | 3 | 4 |
| ASSSETS | |||
| 1. CASH AND DEPOSITS WITH THE CNB (002+003) | 001 | 4.391.466.871 | 4.805.707.905 |
| 1.1.Cash | 002 | 460.024.014 | 508.472.319 |
| 1.2.Deposits with the CNB | 003 | 3.931.442.857 | 4.297.235.586 |
| 2. DEPOSITS WITH FINANCIAL INSTITUTIONS | 004 | 473.330.331 | 1.304.967.800 |
| 3. SHORT-TERM TREASURY BILLS OF THE CROATIAN MINISTRY OF FINANCE | 005 | 324.931.405 | 198.290.229 |
| 4. FINANCIAL ASSETS HELD FOR TRADING | 006 | 654.815.717 | 659.424.671 |
| 5. FINANCIAL ASSETS AVAILABLE FOR SALE | 007 | 2.459.982.241 | 3.972.478.840 |
| 6. FINANCIAL ASSETS HELD TO MATURITY | 008 | 72.345.457 | 75.332.841 |
| 7. FINANCIAL ASSETS VALUED AT FAIR VALUE THROUGH PROFIT OR LOSS, | |||
| NOT ACTIVELY TRADED | 009 | - | 79.277 |
| 8. DERIVATIVE FINANCIAL ASSETS | 010 | - | 479.860 |
| 9. LOANS TO FINANCIAL INSTITUTIONS | 011 | 62.450.000 | 98.081.079 |
| 10. LOANS TO OTHER CUSTOMERS | 012 | 11.013.731.914 | 11.212.144.807 |
| 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 | 142.701.788 |
| 14. OTHER ASSETS | 016 | 455.167.665 | 599.047.962 |
| A) TOTAL ASSETS (001+004 to 016) | 017 | 20.069.837.309 | 23.093.439.736 |
| LIABILITIES | |||
| 1. BORROWINGS FROM FINANCIAL INSTITUTIONS (019+020) | 018 | 651.970.981 | 592.582.908 |
| 1.1. Short-term | 019 | - | 0 |
| 1.2. Long-term | 020 | 651.970.981 | 592.582.908 |
| 2. DEPOSITS (022 to 024) | 021 | 15.389.912.890 | 18.066.389.829 |
| 2.1. Transactional and current accounts | 022 | 5.125.557.660 | 7.278.218.020 |
| 2.2. Savings deposits (demand) | 023 | 1.538.006.561 | 2.561.800.876 |
| 2.3. Term deposits | 024 | 8.726.348.669 | 8.226.370.933 |
| 3. OTHER BORROWINGS (026+027) | 025 | 20.286.850 | 37.087.875 |
| 3.1. Short-term | 026 | - | - |
| 3.2. Long-term | 027 | 20.286.850 | 37.087.875 |
| 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 | 2.388.645.607 |
| B) TOTAL LIABILITIES (018+021+025+028+029+032+033+034) | 035 | 18.159.018.066 | 21.084.706.219 |
| EQUITY | |||
| 1. SHARE CAPITAL | 036 | 1.214.298.000 | 1.214.298.000 |
| 2. PROFIT/(LOSS) FOR THE PERIOD | 037 | 7.898.428 | 126.281.662 |
| 3. RETAINED EARNINGS | 038 | 130.368.702 | 137.850.457 |
| 4. REGULATORY RESERVES | 039 | 15.708.724 | 16.125.246 |
| 5. STATUTARY AND OTHER CAPITAL RESERVES | 040 | 448.288.175 | 412.373.537 |
| 6. FAIR VALUE RESERVE | 041 | 94.257.214 | 101.804.615 |
| 7. RESERVES ARISING FROM HEDGING TRANSACTIONS | - | 0 | |
| C) TOTAL EQUITY (036 to 042) | 042 043 |
1.910.819.243 | 2.008.733.517 |
| D) TOTAL LIABILITIES AND EQUITY (035+043) | 044 | 20.069.837.309 | 23.093.439.736 |
| ADDENDUM TO THE BALANCE SHEET (filled-in by the banks submitting consolidated financial statement) | |||
| 1. TOTAL EQUITY | 045 | 1.910.819.243 | 2.008.733.517 |
| 2. Equity attributable to the shareholders of the parent company | 046 | 1.910.819.243 | 2.008.733.517 |
| 3. Minority interest (045-046) | 047 | - | - |
BALANCE SHEET
| Ja 0 2 0 8 De 3 1 1 1 for th iod fr n c to e p er om |
2 0 8 1 |
in H R K |
|||
|---|---|---|---|---|---|
| Ite m |
AO P lab el |
Ja n 0 1 - De |
c 3 1 2 017 |
Ja n 0 1 - De |
c 3 1 2 018 |
| 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 4 8 |
6 6. 8 9 8. 4 1 1 7 |
1 6 3 6 4. 47 9 5. |
6 6 1. 9 4.5 1 7 7 |
1 8 1. 47 1. 3 3 6 |
| 2. Int st ere ex p en se |
0 4 9 |
1 3 9. 4 3 5. 6 7 4 |
3 1.7 6 6. 1 2 8 |
1 1 0. 5 8 4.7 0 7 |
25 9 8 2.5 4 9 |
| Ne int inc ( ) 3. t st 0 4 8- 0 4 9 ere om e |
0 5 0 |
5 3 7.4 6 2.7 3 7 |
1 3 3. 5 9 8. 3 5 1 |
5 5 1. 3 8 9. 8 6 4 |
15 5. 4 8 8. 7 8 7 |
| 4. Fe d c iss ion inc e a n om m om e |
0 5 1 |
3 3 9 9 9 3 5 5. 5. |
1 2 2.5 8 9. 6 9 5 |
4 3. 3 3 9. 1 17 5 |
1 3 1. 4 0 4.7 47 |
| 5 Fe d c iss ion e a n om m ex p en se |
0 2 5 |
3 2 9. 2 47 2 1 4 |
75 9 4 2.7 0 5 |
3 2 4. 6 77 .5 5 0 |
77 2 2 0. 6 5 2 |
| 6. Ne t fee d c iss ion inc ( 0 5 1- 0 5 2 ) an om m om e |
0 5 3 |
2 0 6. 14 8. 77 9 |
4 6. 6 4 6. 9 9 0 |
21 8. 6 6 1.5 6 7 |
5 4.1 8 4. 0 9 5 |
| Ga ins les los is ing fro inv in bs i d iar ies iat d c ies d 7 tm ts s se s a r m es en su , a ss oc e om p an an j int ntu o ve res |
0 5 4 |
- | - | - | - |
| 8. Ga ins les los fro d ing iv it ies tra t s se s m ac |
0 5 5 |
4 8. 6 2 9. 4 9 4 |
9. 6 2 4. 3 7 3 |
47 0 4 8. 1 2 2 |
1 1. 1 9 8. 8 2 9 |
| 9. Ga ins les los fro bu i lt- in de iva ive t s se s m r s |
0 5 6 |
- | - | - | - |
| 1 0. 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 |
- | - | ( 1 1.7 0 3 ) |
( 9. 6 4 3 ) |
| 1 1. Ga ins les los is ing fro it ies i la b le for le s se s a r m se cu r av a sa |
0 8 5 |
3 0. 2 1 2. 6 17 |
2 4.7 5 5. 1 25 0 0 , |
- | - |
| 1 2. Ga 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 |
- | - | - | - |
| Ga ins les los is ing fro he dg ing iv it ies 1 3. t s se s a r m ac |
0 6 0 |
- | - | - | - |
| 1 4. Inc fro inv in bs i d iar ies iat d c ies d j int tm ts ntu om e m es en su , a ss oc e om p an an o ve res |
0 6 1 |
- | - | - | - |
| 15 Inc fro he ity ins ot tru nts om e m r e q u me |
0 6 2 |
9 4. 9 1 9 7 |
1 3 9. 9 0 7 |
9 8 2. 3 1 4 |
1 8. 2 0 7 |
| 1 6. 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 |
1.7 1. 3 3 7 7 |
( 3 0. 0 17 ) 5 |
( 2. 4 9 9. 9 ) 5 5 |
( 1.7 0 ) 5. 75 7 |
| Ot 17 he inc r om e |
0 6 4 |
7. 3 7 4.5 4 4 |
2. 8 3 8. 0 1 6 |
2 9. 2 0 6. 2 27 |
1 6. 7 2 4. 9 77 |
| 1 8. Ot he ing t sts r o p era co |
0 6 5 |
6 3. 1 4 4. 2 1 9 |
2 0. 0 5 5. 3 1 1 |
75 .5 45 2 0 0 |
25 6 45 9 47 |
| 1 9. 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 |
3 9 6. 4 27 4 6 .5 |
1 0 3. 3 2 8. 8 1 5 |
4 6 4. 3 2 0. 2 8 6 |
15 3. 4 9 8 2 9 7. |
| 2 0. Op ing f it ( 0 0+ 0 3 t 0 6 0 6 0 6 6 ) at 5 5 4- 5- er p ro o |
0 6 7 |
3 7 3. 0 0 2. 6 9 8 |
9 3. 8 6 8. 5 8 3 |
3 0 4. 9 1 0. 9 5 0 |
5 6. 75 6. 2 3 2 |
| 2 1. Im irm los d p is ion t p a en se s a n rov s |
0 6 8 |
3 5 9. 8 4 2.5 8 6 |
8 3. 5 5 4.5 7 1 |
1 4 4. 6 5 6. 3 1 8 |
3 6. 6 1 6. 8 6 0 |
| 2 2. P R O F I T / ( L O S S ) B E F O R E T A X ( 0 6 7- 0 6 8 ) |
0 6 9 |
1 3. 1 6 0. 11 2 |
1 0. 3 14 0 1 2 |
1 6 0. 25 4. 6 3 2 |
2 0. 1 3 9. 3 7 2 |
| C O S 2 3. I N M E T A X E X P E N E / D E F E R R E D T A X |
0 7 0 |
5. 2 6 1. 6 8 4 |
3. 3 9 2. 3 9 0 |
3 3. 9 7 2. 9 7 0 |
5. 6 8 8. 3 1 1 |
| O O S S O O 24 N E T P R F I T / ( L ) F R T H E P E R I D ( 0 6 9- 0 7 0 ) |
0 71 |
7. 8 9 8. 4 2 8 |
6. 9 21 6 2 2 |
1 2 6. 2 8 1. 6 6 2 |
14 .45 1. 0 6 1 |
| Ea ing ha 25 rn s p er s re |
0 7 2 |
4 | 3 | 6 2 |
7 |
| A D D E N D U M T O T H E P & L ( f i l le d- in by he ba ks bm itt ing l i da d f ina ia l s t te tat t n su co ns o nc em en |
) | ||||
| P R O F I T F O R T H E P E R I O D 1. |
0 3 7 |
8 9 8. 2 8 7. 4 |
6. 9 21 6 2 2 |
2 6. 2 8 6 6 2 1 1. |
0 6 14 .45 1. 1 |
| 2. Att i bu b le he ha ho l de f t he ta to t nt r s re rs o p are co mp an y |
0 74 |
7. 8 9 8. 4 2 8 |
6. 9 21 6 2 2 |
1 2 6. 2 8 1. 6 6 2 |
14 .45 1. 0 6 1 |
| 3. M ino ity int ( 0 7 3- 0 74 ) st r ere Co lida d Fin ia l Sta for he Pe rio d fro Ja n 0 1 to De 3 1 2 0 18 (u d ite d ) te tem ts t nso an c en m c na u |
0 75 |
- | - | - | - |
| for the period from | Jan 01 2018 | to | Dec 31 2018 | in HRK | ||
|---|---|---|---|---|---|---|
| Item | AOP | Jan 01 - Dec 31 | Jan 01 - Dec 31 | |||
| label | 2017 | 2018 | ||||
| 1 | 2 | 3 | 4 | |||
| OPERATING ACTIVITIES | ||||||
| 1. Cash flow from operating activities before changes in assets (002 to 007) | 001 | 410.702.980 | 391.186.139 | |||
| 1.1. Profit/(loss) before tax | 002 | 9.735.138 | 160.254.632 | |||
| 1.2. Impairment losses and provisions | 003 | 363.869.243 | 144.656.318 | |||
| 1.3. Amortization and depreciation | 004 | 44.073.387 | 54.267.413 | |||
| 1.4. Net unrealised gains less losses from financial assets valued at fair value through profit or loss |
005 | (7.085.744) | 7.364.637 | |||
| 1.5. Gains / losses from sale of tangible assets | 006 | 1.882.329 | 22.143.184 | |||
| 1.6. Other gains / losses | 007 | (1.771.373) | 2.499.955 | |||
| 2. Net increase / decrease of operating assets (009 to 016) | 008 | (1.179.368.700) | (3.108.320.324) | |||
| 2.1. Deposits with the CNB | 009 | (2.089.619.595) | (365.792.729) | |||
| 2.2. Tresury bills of the Croatian Ministry of Finance | 010 | 90.605.210 | 126.641.176 | |||
| 2.3. Deposits with and loans to financial institutions | 011 | 300.758.678 | (831.637.469) | |||
| 2.4. Loans to other customers | 012 | 391.973.064 | (228.115.425) | |||
| 2.5. Financial assets held for trading | 013 | 48.584.425 | (11.973.591) | |||
| 2.6. Financial assets available for sale | 014 | 159.563.400 | (1.520.044.000) | |||
| 2.7. Financial assets valued at fair value through profit or loss, not actively traded | 015 | - | - | |||
| 2.8. Other operating assets | 016 | (81.233.882) | (277.398.286) | |||
| 3. Net increase / decrease of operating liabilities (018 to 021) | 017 | 518.513.020 | 2.968.275.201 | |||
| 3.1. Transactional accounts | 018 | 1.144.453.856 | 2.152.660.360 | |||
| 3.2. Savings and term deposits | 019 | (536.641.977) | 523.816.579 | |||
| 3.3. Derivative financial liabilities and other liabilities actively traded | 020 | (3.640.667) | 0 | |||
| 3.4. Ostale liabilities | 021 | (85.658.192) | 291.798.262 | |||
| 4. Net cash flow from operating activities before taxation (001+008+017) |
022 | (250.152.700) | 251.141.016 | |||
| 5. Income tax paid | 023 | (1.172.733) | (537.596,00) | |||
| 6. Net cash inflow / outflow from operating activities (022+023) | 024 | (251.325.433) | 250.603.420 | |||
| INVESTING ACTIVITIES | ||||||
| 7. Net cash flow from investing activities (026 to 030) | 025 | 326.217.128 | (159.771.469) | |||
| 7.1. Purchase of tangible and intangible assets | 026 | (45.247.393) | (36.501.399) | |||
| 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 | 370.489.602 | (2.987.384) | |||
| 7.4. Dividends received | 029 | 974.919 | 982.314 | |||
| 7.5. Other inflows / outflows from investing activities | 030 | - | - | |||
| FINANCIAL ACTIVITIES | ||||||
| 8. Net cash flow from financial activities (032 to 037) | 031 | (37.163.725) | (42.587.048) | |||
| 8.1. Net increase / decrease of borrowings | 032 | (37.163.725) | (42.587.048) | |||
| 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 | 37.727.970 | 48.244.903 | |||
| 10. Effect of foreign exchange differences on cash and cash equivalents | 039 | 816.192 | 203.402 | |||
| 11. Net increase/(decrease) in cash and cash equivalents (038+039) | 040 | 38.544.162 | 48.448.305 | |||
| 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 | 460.024.014 | 508.472.319 |
TRANSLATION
HPB GROUP
| for he t p |
io d fro er m |
Jan 01 |
20 18 |
to | Dec 31 |
20 18 |
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 labe l |
Sha ital re c ap |
Ow har n s es |
Reg ulat , st atu tory ory and oth er r ese rve s |
Ret aine d e ing arn s |
Pro fit/( los s) for the per iod |
Fair val ue res erv e |
Min orit inte t y res |
Tot al e ity qu |
| 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 |
| Bala Jan 01 201 8 nce as per |
001 | 1.2 .00 0 14. 775 |
( .00 0) 477 |
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 han in a unti olic ies cts ges cco ng p and ions of rect cor erro rs |
002 | ( 57. 233 .44 3) |
( 233 .44 3) 57. |
||||||
| Res tate d b alan er J an 0 1 20 18 ( 001 +00 2) ce a s p |
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 ilabl e fo le sets osa ava r sa |
004 | ( 7.2 59. 118 00) , |
( 7.2 59. 118 00) , |
||||||
| Cha in t he f air v alue of f inan cial ilabl e fo le ets nge ass ava r sa |
005 | 15.3 19.0 76 |
15.3 19.0 76 |
||||||
| Tax item nise d di ly rect on s re cog in/tr ferr ed f ity ans rom equ |
006 | 13.0 93, 00 |
( 512 .55 7) |
( 499 .464 ) |
|||||
| Oth ains and ( loss es) ised dire ctly in e ity er g reco gn qu |
007 | ( 72. 739 00) , |
( 72. 739 00) , |
||||||
| Net ins/ ( los ) re nis ed dire ctly in e ity ga ses cog qu ( 004 +00 5+0 06+ 007 ) |
008 | - | - | 00) ( 59. 646 , |
- | - | 7.5 47. 401 |
- | 7.4 87. 755 |
| s fo Los r the iod per |
009 | 126 .28 1.66 2 |
126 .28 1.66 2 |
||||||
| Tot al r ized inc nd e fo r th erio d eco gn om e a exp ens e p ( 008 +00 9) |
010 | - | - | 00) ( 59. 646 , |
- | 126 .28 1.6 62 |
401 7.5 47. |
- | 133 .76 9.4 17 |
| Incr e/de se i n sh ital eas crea are cap |
011 | - | |||||||
| Purc has e/sa le o f ow hare n s s |
012 | - | |||||||
| Oth han er c ges |
013 | 21. 378 .30 0 |
21. 378 .30 0 |
||||||
| Tra nsfe r to rese rves |
014 | 416 .67 3 |
7.4 81. 755 |
( 7.8 98. 428 ) |
- | ||||
| Divid end id s pa |
015 | - | |||||||
| Pro fit a lloc atio n ( 014 +01 5) |
016 | - | - | 3 416 .67 |
81. 755 7.4 |
) ( 7.8 98. 428 |
- | - | - |
| Bala the orti dat nce as per rep ng e ( 003 +01 0+0 11+ 012 +01 3+0 16) |
017 | 1.2 14. 775 .00 0 |
( 477 .00 0) |
428 .49 8.7 83 |
137 .85 0.4 57 |
126 .28 1.6 62 |
101 .80 4.6 15 |
- | 2.0 08. 733 .51 7 |
HPB GROUP
| in HRK 1) INTEREST INCOME |
||||||
|---|---|---|---|---|---|---|
| Jan 01 - Dec 31 2017 | Jan 01 - Dec 31 2018 | |||||
| Cumulative | Quarterly | Cumulative | Quarterly | |||
| Loans | 579.734.596 | 142.452.730 | 555.014.585 | 145.668.948 | ||
| Deposits | (1.125.442) | 471.823 | 1.113.779 | 65.510 | ||
| Securities | 98.289.257 | 22.439.926 | 105.846.207 | 35.736.878 | ||
| TOTAL | 676.898.411 | 165.364.479 | 661.974.571 | 181.471.336 |
| Jan 01 - Dec 31 2017 | Jan 01 - Dec 31 2018 | ||||
|---|---|---|---|---|---|
| Cumulative | Quarterly | Cumulative | Quarterly | ||
| Borrowings | 14.083.983 | 3.676.154 | 29.381.386 | 11.926.276 | |
| Deposits | 125.351.691 | 28.089.974 | 81.203.321 | 14.056.273 | |
| TOTAL | 139.435.674 | 31.766.128 | 110.584.707 | 25.982.549 |
| Jan 01 - Dec 31 2017 | Jan 01 - Dec 31 2018 | ||||
|---|---|---|---|---|---|
| Cumulative | Quarterly | Cumulative | Quarterly | ||
| Cash payment operations - channels | 277.133.723 | 67.452.911 | 265.601.621 | 65.507.516 | |
| Retail and card operations | 179.789.439 | 35.201.430 | 191.402.901 | 42.297.158 | |
| Corporate operations | 59.486.631 | 16.697.514 | 64.664.513 | 17.859.766 | |
| Other fee and commission income | 18.986.200 | 3.237.840 | 21.670.082 | 5.740.307 | |
| TOTAL | 535.395.993 | 122.589.695 | 543.339.117 | 131.404.747 |
| Jan 01 - Dec 31 2017 | Jan 01 - Dec 31 2018 | ||||
|---|---|---|---|---|---|
| Cumulative | Quarterly | Cumulative | Quarterly | ||
| Payment operations | 278.084.072 | 66.133.786 | 267.180.834 | 66.265.917 | |
| Other fee and commission expense | 51.163.142 | 9.808.919 | 57.496.716 | 10.954.735 | |
| TOTAL | 329.247.214 | 75.942.705 | 324.677.550 | 77.220.652 |
| Jan 01 - Dec 31 2017 | Jan 01 - Dec 31 2018 | ||||
|---|---|---|---|---|---|
| Cumulative | Quarterly | Cumulative | Quarterly | ||
| Securities and equity instruments | 9.891.502 | (201.443) | (4.532.084) | (957.747) | |
| FX transactions | 38.157.579 | 9.693.413 | 49.703.940 | 11.852.441 | |
| HRK cash transactions | 490.545 | 3.850 | 288.040 | 0 | |
| Derivatives | 89.868 | 128.553 | 1.588.226 | 304.135 | |
| TOTAL | 48.629.494 | 9.624.373 | 47.048.122 | 11.198.829 |
| Jan 01 - Dec 31 2017 | Jan 01 - Dec 31 2018 | ||||
|---|---|---|---|---|---|
| Cumulative | Quarterly | Cumulative | Quarterly | ||
| General and administrative expenses | 352.354.159 | 92.482.983 | 410.052.874 | 134.876.053 | |
| Amortization and depreciation | 44.073.387 | 10.845.868 | 54.267.413 | 18.621.776 | |
| Savings deposit insurance costs | 35.559.103 | 9.155.918 | 40.494.320 | 12.240.881 | |
| Other costs | 27.585.116 | 10.899.393 | 35.050.879 | 13.405.066 | |
| TOTAL | 459.571.765 | 123.384.162 | 539.865.486 | 179.143.776 |
| in HRK 7) IMPAIRMENT LOSSES AND PROVISION EXPENSES |
||||||
|---|---|---|---|---|---|---|
| Jan 01 - Dec 31 2017 | Jan 01 - Dec 31 2018 | |||||
| Cumulative | Quarterly | Cumulative | Quarterly | |||
| Impairments and provisions for losses | 357.852.818 | 78.575.203 | 94.943.990 | 18.207.426 | ||
| Other impairments and adjstuments | 1.989.768 | 4.979.368 | 49.712.328 | 18.409.434 | ||
| TOTAL | 359.842.586 | 83.554.571 | 144.656.318 | 36.616.860 |
| 8) CASH AND DEPOSITS WITH THE CNB | in HRK | |
|---|---|---|
| Dec 31 2017 | Dec 31 2018 | |
| CASH | 460.024.014 | 508.472.319 |
| DEPOSITS WITH THE CNB | 3.931.442.857 | 4.297.286.068 |
| Mandatory reserve | 1.300.268.691 | 1.526.837.660 |
| Account for transaction settlement | 2.631.174.166 | 2.770.448.408 |
| MANDATORY TREASURY BILLS | - | - |
| Portfolio based impairment allowance for identified losses | - | (50.482) |
| TOTAL | 4.391.466.871 | 4.805.707.905 |
| Dec 31 2017 | Dec 31 2018 | |
|---|---|---|
| Deposits with foreign banking institutions | 449.961.251 | 1.053.491.869 |
| Deposits with domestic banking institutions | 23.369.080 | 254.770.273 |
| Portfolio based impairment allowance for identified losses | - | (3.294.342) |
| TOTAL | 473.330.331 | 1.304.967.800 |
| Dec 31 2017 | Dec 31 2018 | |
|---|---|---|
| Short term Treasury bills of the Croatian Ministry of Finance | 324.931.405 | 198.290.229 |
| Financial assets held for trading | 654.815.717 | 659.424.671 |
| Financial assets available for sale | 2.459.982.241 | 3.972.478.840 |
| Financial assets held to maturity | 73.139.356 | 75.343.907 |
| Financial assets valued at fair value through profit or loss, not actively traded |
79.277 | |
| Portfolio based impairment allowance for identified losses | (775.376) | - |
| Deferred front-end fee | (18.523) | (11.066) |
| TOTAL | 3.512.074.820 | 4.905.605.858 |
| 11) LOANS TO CUSTOMERS | in HRK | |
|---|---|---|
| Dec 31 2017 | Dec 31 2018 | |
| Loans to financial institutions | 62.450.000 | 98.081.079 |
| Bruto krediti | 62.454.545 | 98.086.422 |
| Ispravci vrijednosti | (4.545) | (5.343) |
| Corporate & SME loans | 2.942.304.493 | 2.865.508.708 |
| Bruto krediti | 3.902.668.309 | 4.022.375.284 |
| Ispravci vrijednosti | (960.363.816) | (1.156.866.576) |
| Retail loans | 5.036.923.707 | 5.881.665.560 |
| Bruto krediti | 5.333.998.299 | 6.247.257.865 |
| Ispravci vrijednosti | (297.074.592) | (365.592.305) |
| Other loans | 3.192.134.584 | 2.652.303.941 |
| Bruto krediti | 3.198.303.415 | 2.659.946.757 |
| Ispravci vrijednosti | (6.168.831) | (7.642.816) |
| Portfolio based impairment allowance for identified losses | (118.064.812) | 0 |
| Expected credit losses (A1 and A2 risk groups) | - | (147.155.227) |
| Other adjustments | - | (4.584.608) |
| Deferred front-end fee | (39.566.058) | (35.593.567) |
| LOANS TO CUSTOMERS | 11.076.181.914 | 11.310.225.886 |
| 12) DEPOSITS | in HRK | |
|---|---|---|
| Dec 31 2017 | Dec 31 2018 | |
| Financial institutions | 1.116.153.667 | 1.128.855.860 |
| Corporations | 3.574.264.999 | 4.276.803.988 |
| Retail | 9.282.809.836 | 11.259.935.431 |
| Other | 1.416.684.388 | 1.400.794.550 |
| TOTAL | 15.389.912.890 | 18.066.389.829 |
| 13) BORROWINGS | in HRK | |
|---|---|---|
| Dec 31 2017 | Dec 31 2018 | |
| Borrowings from HBOR | 656.196.151 | 596.036.649 |
| Borrowings from domestic banking institutions | - | 0 |
| Borrowings from domestic non-banking institutions | - | 0 |
| Borrowings from foreign banking institutions | 20.286.850 | 37.087.875 |
| Deferred front-end fee | (4.225.170) | (3.453.741) |
| TOTAL | 672.257.831 | 629.670.783 |
| 14) OTHER LIABILITIES | in HRK | |
|---|---|---|
| Dec 31 2017 | Dec 31 2018 | |
| Restricted deposits | 1.786.812.843 | 2.058.484.273 |
| Interest and fees payable | 48.664.624 | 40.325.778 |
| Provisions for off-balance sheet exposure | 25.193.152 | 31.935.581 |
| Other | 236.176.726 | 257.899.975 |
| TOTAL | 2.096.847.345 | 2.388.645.607 |
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 Dec 31 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% |
| 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 | 7,46% |
| 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. Process of merging Jadranska banka d.d. is in progress. From the acquisition until reporting period, Jadranska banka d.d., Šibenik reported a net loss of HRK 21.6 million.
TRANSLATION
HPB Stock is listed on ZSE's Official market. Last share price at the end of the 2018 reporting period amounted to HRK 450.00 (trading day Dec 28 2018), representing an decrease of 11.1 percent in comparison with the last price achieved in 2017 (=HRK 506,00 as per Dec 29 2017 trading day).
Trading during the reporting period was as follows:
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