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Record performance for Getin Holding S.A. – net profit tops one billion PLN


The company recorded nearly a 20% increase of ROE, which is above the market average. These results are the effect of the consequent implementation of the approved strategy in all Capital Group companies.

Idea Bank launched its operations towards the end of 2010 and, in December 2011, it could pride itself on as many as 38 branches located in the largest cities. Within merely one year, Idea Bank recorded impressive increases in all business categories, gaining PLN 2 billion in deposits, issuing PLN 1.6 billion in loans, and earning a net profit of PLN 11.1 million.

The companies based abroad are gaining increasing importance in the Group. Their net profit increased by 45% year on year. Idea Bank Ukraine (previously Plus Bank, the company changed its name in autumn 2011) is an indisputable leader among car loans providers (with an over 20% market share). It ranks among the top ten Ukrainian banks with the highest balance sheet total dynamics. According to the adopted strategy, Idea Bank Ukraine is growing into a universal bank expanding both its product range and branch network (at the end of 2011, the bank operated from 51 branches). The bank generated a net profit of over PLN 30 million, which is an increase of 56% year on year.

In Russia, Getin Holding is building a bank and lease group based on Kubanbank, the Group's 2011 acquisition. Carcade enjoys a leading position among passenger car lease providers, with an 18% market share. Carcade's net profit totalled nearly PLN 33 million, which is an increase of 54% year on year.

Kubanbank is systematically expanding its branch network – within a few months, it managed to open 7 new branches and is going to open new ones so as to operate 17 modern branches by the end of 2012. The bank's loan portfolio grew two and half times and the deposit portfolio – two times.

Belarus based Sombelbank joined the ten top banks with the highest growth rate of sales to individual clients. In 2011, the bank opened 15 new branches and 5 cash and settlement centres (currently it is operating through 30 branches and 14 centres). Further expansion of the bank will be the main goal for the Group in 2012.

TU Europa S.A. insurance company invariably remains a bancassurance leader in Poland. In 2011, TU Europa Group generated a net profit of PLN 173 million.
TU Europa ranks first in the gross written premium (in life insurance products), and third in net profit both in life and property insurance products. 

Besides the record profit generated by Getin Holding, the year 2011 saw several important events in the Group. The most crucial was the Capital Group division – spinning off Getin Noble Bank S.A., Getin Holding's core asset. This stage was successfully completed in January 2012, and the entire project will be closed with the merger of Get Bank S.A. and Getin Noble Bank S.A. that is planned for Q2 2012. 

In April, Open Finance was successfully floated on the Warsaw Stock Exchange. Carcade took over Kubanbank. In June, 100% of the shares in Allianz Bank were acquired. In Q3 2011, Getin Holding took over direct control of Idea Bank. In December, Getin Holding concluded an agreement on strategic bancassurance co-operation in Poland and Eastern Europe with Talanx and Meiji Yasuda Life Insurance. The co-operation includes Getin Holding's sale of 50% + 1 share in TU Europa S.A. The completion of this spectacular transaction worth an estimated PLN 900 million is planned for Q2 2012.

Getin Holding's successes in 2011 translated to its leading position among all financial sector companies and winning the Stock Exchange Company of the Year 2011 title in the ranking organised by Puls Biznesu daily.

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Wojciech Sury

Wojciech Sury

Press Spokesperson