Annual report 2019

BNP Paribas Leasing Services Spółka z o.o.

BNP Paribas Paribas Leasing Services Sp. z o.o. (the „Company”) offers its customers a full range of leasing products in cooperation with the Bank.

In 2019,the Company provided services to customers from the segments of micro-enterprises, Personal Finance, SME and corporate customers. As a result of the acquisition of customer financing of the above segments from the Bank in 2018, the dynamic growth of working assets continued in 2019.

  • In 2019, the Company concluded almost 20 thousand new agreements for the amount of PLN 2,316,545 thousand, which constituted an increase by 11% y/y.
  • As at 31 December 2019, the Company’s share capital consisted of 4,000 equal shares with a total par value of PLN 40,000,000. The total assets amounted to PLN 3,439,131 thousand.
  • The Company currently has 59 branches.
Basic financial data of BNP Paribas Leasing Services Spółka z o.o.
PLN ‘000 31.12.2019 31.12.2018 31.12.2017
Balance sheet total 3,439,131 2,413,330 869,606
Long-term investments* 3,139,626 1,833,087 547,249
Equity (2,752) 7,244 (11,280)
including: net financial result (9,996) (14,490) (12,005)
* Receivables from granted financing.

As a result of the recognition of costs incurred in connection with expenditures necessary to adapt the Company to the planned considerable scale of operations and in relation to the effect of recognition of prudential allowances for credit risk on the dynamically growing portfolio of long-term investments, the Company continues to record a net financial loss. However, this is an expected and temporary situation, which should change in the 2020 perspective as the balance sheet scale of the Company’s operations stabilises.

The Company is not subject to prudential regulations on capital adequacy standards and is not required to comply with minimum capital ratios.  In December 2018, the Company’s share capital was increased to the value of PLN 40,000 thousand, thus restoring the positive balance of the Company’s own equity.

The net loss for 2019 resulted again in negative equity value. In the current situation, the Group does not intend to increase the Company’s, because no significant risk of not realizing the budget for 2020 and not achieving the expected improvement of the Company’s capital situation is identified. Possible decisions in this respect are planned for the first half of 2021.

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