On Friday, 2 November 2012, the Polish
Financial Supervision Authority (Komisja Nadzoru Finansowego – KNF) published
consolidated data for the Polish banking sector for the month of
September. The data is based on information
reported through 29 October, and is to be considered preliminary and subject to
subsequent revision.
Analysis: Below are
some figures taken from the September data as well as some calculations based
upon the published figures. The figures
and calculations given here are for commercial banks only (literally “krajowe banki
komercyjne działające z oddziałami zagranicznymi”, i.e., both domestic banks
and foreign banks operating through domestic branches). All values are expressed here in Polish
złotych (PLN) (1 EUR = 4.1159 PLN at time of writing).
General:
Number of domestic commercial
banks (liczba krajowych banków komercyjnych)
For September 2012: 46,
unchanged from August.
Number of branches of foreign
banks (liczba oddziałow instytucji kredytowych)
For September 2012: 23,
unchanged from August.
Deposits:
Total deposits from
non-financial customers:
Deposits in PLN:
556,677,806,492
Deposits in EUR:
46,252,118,014
Deposits in other currencies:
25,986,541,993
Capital adequacy:
Capital adequacy ratio (CAR)
(współczynnik wypłacalności (“solvency ratio”))*
Solvency ratio = Fundusze
własne dla współczynnika wypłacalności ÷ (Wymogi kapitałowe × 12.5 × 100)
For September 2012: 117,733,773,971
÷ (67,061,764,300 × 12.5 × 100) = 14.04%
Highest since Dec. 2009:
14.311% (April 2012). Lowest since Dec.
2009: 12.967% (Nov. 2011).
*Statutory requirement for individual banks according to the Banking Act
of 1997: in the case of domestic banks, 15% for the first 12 months of
operation, 12% for the next 12 months of operation, and 8% thereafter (art.
128, para 1, subpara. 3); in the case of foreign banks carrying out operations
through a branch in Poland, 12% for the first 18 months of operation and 8%
thereafter (Art. 42f, para. 1). See Ustawa z
dnia 29 sierpnia 1997 r. Prawo Bankowe (Dz.U. z 2002 r. Nr 72, poz. 665).
Tier 1 ratio (współczynnik
wypłacalności dla funduszy podstawowych (tzw. fundusze Tier 1)):
For September 2012: 12.629%,
up from 12.537% in August.
Highest since Dec. 2009:
12.854% (April 2012). Lowest since Dec.
2009: 11.497% (Nov. 2011).
Income:
Interest income (Przychody z
tytułu odsetek)
For September 2012:
48,910,827,809.
Highest since Dec. 2009: 58,506,134,841
(Dec. 2011). Lowest since Dec. 2009: 4,145,472,429
(Jan. 2010).
Interest expense (Koszty
odsetek)
For September 2012:
24,918,980,515.
Highest since Dec. 2009:
27,138,750,718 (Dec. 2011). Lowest since
Dec. 2009: 2,008,597,514 (Jan. 2011).
Asset quality:
Proportion of non-performing
loans to total loans (non-financial sector only) (NPL/L) (Sektor niefinansowy: utratą
wartości ÷ kredyty ogółem)
Households (gospodarstwa
domowe): 37,112,446,530 ÷ 494,960,645,917 = 7.498%
Non-financial enterprises (przedsiębiorstwa):
29,447,109,516 ÷ 254,181,739,146 = 11.585%
Non-profit institutions (instytucje
niekomercyjne): 85,987,876 ÷ 4,216,965,982 = 2.039%
N.B.: The
terminology used by the KNF is not always consistent. In general the KNF follows the terminology
prevailing in the Polish banking sector, but in its monthly data reports it
often uses terms that are quite different.
For example, in general the KNF uses the terms “kredyty zagrożonye” (non-performing loans) and
“współczynnik wypłacalności dla funduszy podstawowych” (solvency ratio of core
capital), but in its monthly data reports these terms are replaced by “utratą
wartości” (impaired claims/receivables/value) and “współczynnik Tier 1” (Tier 1
ratio). Care is therefore required in
calculating ratios across different KNF documents.
—————
“…The workshop aims to gather the most recent research concerning
advances in the measurement of expectations, empirical testing of expectation
formation process, especially the degree of their forward-lookingness, as well
as the relevance of direct measures of expectations and empirical assessment of
their formation for conducting monetary policy. Although inflation expectations
are particularly interesting for central banks, during the workshop we would
also like to analyze expectations related to other variables, such as household
financial position, unemployment etc. …”
Basic program outline (for
complete program see here):
Thursday,
29 November 2012
Keynote lecture by Professor Roy Batchelor, Cass Business School, London
Survey Expectations in the New Economics
Session 1: Testing sticky information model
Chairman: Dr Christian Muller, Zurich University of Applied Sciences
Session 2: Process of expectations formation I
Chairman: to be decided
Session 3: Process of expectations formation II
Chairman: Dr Christina Gerberding, Deutsche Bundesbank
Friday,
30 November 2012
Keynote lecture by Professor Peter Sinclair, University of Birmingham and Bank of England
Inflation, Inflation Expectations and Financial Stability
Session 4: Exploiting density forecasts
Chairman: Professor Ryszard Kokoszczyński, University of Warsaw and National Bank
of Poland
Session 5: Inflation expectations and monetary
policy
Chairman: to be decided
Mark Pleas
Eastern Europe Banking & Deposits
Consultant
