Getin Noble Bank (GNB)

1.86PLN
-1.06% 17:00

Current report 95/2014

26.10.2014

MANAGEMENT BOARD’S REPORT IN RESPECT OF PUBLISHED AQR AND STRESS TEST RESULTS

Getin Noble Bank S.A. has successfully endured the most important and the most rigorous stress test, i.e. adverse scenario of the stress test.

Historical slight capital shortage indicated in the baseline scenario (0,1%) has been already supplemented with surplus in 2014 (+0,9%).

The current prudentially consolidated solvency ratio CET1 is at the level of 9,5%, and the total solvency ratio CAR amounts to 13,1%. In respect to the above the present capital level allows to endure successfully both Asset Quality Review (AQR) and stress tests.

It means that the Bank does not need now any recapitalization by the Shareholders.

After the review date, upon the consent of the Polish Financial Supervision Authority (“Commission”), the Bank included the whole profit of prudentially consolidated Capital Group of Getin Noble Bank S.A. for the first six months of 2014 in the amount of PLN 258.5 mm in the equity capital.

According to the binding Dividend Policy, the consolidated profit for the third and fourth quarter of 2014 shall be included in full in the equity capital.

The Commission practically raised no objections to credits granted after the merger of Getin Bank and Noble Bank in the second half of 2010, which confirmed great quality of portfolio of those credits which constitute yet over 60% of the whole credit portfolio.

It should be noted that the stress tests for Polish banks were performed in more rigorous and conservative conditions than in other European Union countries (“UE”) as the Commission attributes greater importance to the risk connected with credits denominated in foreign currencies.

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The Management Board of Getin Noble Bank S.A. announces this report in respect of the results of the European Asset Quality Review published today and stress testing of banks, as well as the results of asset quality review carried out in accordance with European Central Bank methodology and the results of stress testing of 15 Polish banks, including Getin Noble Bank S.A. presented by the Commission.

The results of AQR and stress tests are available at the Commission’s website.

Legal basis: Article 56(1) of the Polish Act of 25 July 2005 on public offering and the conditions for introducing financial instruments into an organized trading system and on public companies (Journal of Laws of 2005, No. 184, item 1539 later amended).