Pekao SA started a year strongly. It has not been so good for a decade

The first quarter of 2019 is behind us. For Pekao SA it turned out to be exceptionally successful. The bank collects the fruits of processes and activities that it started in the last 12 months. And despite the large expenses associated with digital transformation, he managed to keep cost discipline.

Pekao SA is primarily a retail and corporate banking. And here and here he managed to record increases - especially in retail banking, which recorded 12-percent. increase in income. This is the biggest dynamics in a decade. Corporate banking assets went up by 18 percent.

Total net profit increased after excluding regulatory costs by almost 14%.

After payment of fees to the Bank Guarantee Fund (and these went up, much, because by PLN 200 million and currently amount to almost PLN 400 million), the profit was reduced to PLN 242 million. The double-digit growth was possible thanks to, as the president of Pekao SA Michał Krupiński put it, "the exemplary cost discipline". The cost / income ratio dropped in the first three months of this year by 2 percentage points. (y / y) to the level of 44 percent.

The costs are rising below inflation, which is unheard of in this sector. This is despite the fact that we have large expenses related to digital transformation, which in the future is to bring savings - he emphasized.

What is this transformation about ? Pekao emphasizes above all the intense development of "personalized digital channels", simplifying sales and customer service. The bank gives, for example, that the time of starting the account has been shortened from 40 to 7 minutes, and 90%. Loan loan decisions have been automated. Every third cash loan is provided today in remote channels.

In 2018, Pekao also presented a new website, developed the PeoPay application, introduced the possibility of using Blik and - which is unique on the Polish market - gave customers the opportunity to set up an account without talking to a consultant. Authorization is carried out using a selfie that the client sends to the bank .

Effect? The number of mobile clients has increased by 31 percent. y / y to the level of 1.3 million people.

We are going through new ways of working with the use of digital technologies, and most of the repetitive activities and processes are successively automated - said Krupiński.

40 percent also pay attention. increase in the number of new accounts. A large share of young customers (13 to 17 years) - here the growth rate is the highest, as much as 57-percent. During the first 3 months, the account in Pekao opened 113 thousand. customers.

Green indicators also appeared in the rubric: loans. Double-digit increases included all key segments - credit products for SMEs and MID (16.2%), cash loans (14.8%) and mortgage products (10.9%).

What will Pekao focus on later in the year?

We will depend on maintaining the pace of acquisition and maintaining the leading position with respect to retail banking - said Michał Krupiński.

The Polish bank also wants to maintain good cost discipline, to continue processes supporting cross-selling in the corporate banking sector and to maintain a priority palm in servicing large corporate clients.

The latter is to be possible, among others thanks to limiting the documentation required by the bank and increasing the time that advisers spend on working with the client.

Pekao SA started a year strongly. It has not been so good for a decade


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