Getin Noble Bank (GNB)

-5.41% 17:01

Current report 22/2016



Getin Noble Bank S.A. hereby informs that on 21 March 2016 the Management Board and the Supervisory Board of the Issuer adopted a new Strategy for the years 2016-2018. It is the answer of the Company to current and expected changes in the Polish banking sector as well as trends in clients’ behavior. The goal of the planned actions is the continuity of transformation of Getin Noble Bank into profitable and effective universal bank having recurring source of income.

The main business goals within next three years assume the reduction of deposit costs against market to the level of 60 basis points, the increase in the number of clients transferring their salary and meeting restrictive criteria of active account usage to 400.000, increase of cross-sell ratio and improvement of operating effectiveness (ratio C/I<50%).

Since 2011 Getin Noble Bank has been systematically strengthening its capital position. During this period the consolidated solvency ratio of the Bank has increased by 4,4 percentage points from the level of 9,9% at the end of 2011 to 14,3% at the end of 2015. CET1 ratio amounted at the end of last year 11,1%. Current levels of capital rate are the highest in the history of Getin Noble Bank.

The key initiative of the strategy is new segmentation of clients initiated at the beginning of 2016. The strategy assumes considerable increase in the quality of client service and tailor the product offer and  sale network structure to the expectations and needs of three main segments of clients assisted within Getin Bank, Noble Personal Banking and Noble Private Banking.

An important part of the Bank’s transformation makes a digital strategy that central point is building advantage on the basis of mobile banking. It’s further development shall ensure the possibility to make banking operations using smartphone as well as bring satisfaction from the simplicity of application usage. The goal of the digital strategy is to ensure the uniform service through all distribution channels.

The Bank also assumes to maintain the position of the leader on automotive market and to continue cooperation with Getin Leasing Group. As far as financing of selected corporate market sectors is concerned, the Bank aspires to further organic growth within the local government units sector and to maintain its position among leaders in developer financing.
In connection with the significant external burdens that were not connected directly with the Bank’s operations and that considerably influenced the net income of IVQ of 2015, the Bank asked the Polish Financial Supervision Authority for acceptance of the “Plan of permanent profitability improvement” in accordance with Article 142 of the Polish Banking Law Act.

In the opinion of the Management Board of the Getin Noble Bank the realization of the new Strategy and of the “Plan of permanent profitability improvement” shall not only contribute to the increase of business profitability and effectiveness but shall also positively influence further risk diversification and shall contribute to the increase in capital management effectiveness.

The Management Board of Getin Noble Bank also informs that in the nearest future it shall apply to the General Meeting for consent to combine shares in proportion 3:1.

Legal basis: Art. 56 (1)(1) of the Act on public offering and conditions of introducing financial instruments to organized trading system and on public companies (Journal of Laws of 2005 No. 184, item 1539, later amended).