Statement of comprehensive income
The Bank's comprehensive income in 2021 amounted to PLN 667,068 thousand and was by PLN 1,528,775 thousand (i.e. by 177.4%) lower compared to 2020.
The recorded decrease was mainly affected by the deterioration of the valuation of financial assets measured by other comprehensive income by PLN 1,132,824 thousand related to the increase in interest rates of the National Bank of Poland (negative impact on comprehensive income in 2021 in the amount of PLN 969,416 thousand, compared to a positive impact in 2020 in the amount of PLN 163,408 thousand). Another element that affected the decrease in the Bank’s total income was the net financial result, which at the end of 2021 was lower by PLN 546,534 thousand (i.e. by 74.8%) compared to the end of 2020.
Statement of comprehensive income
| in PLN’000 | 12 months ended 31.12.2021 |
12 months ended 31.12.2020 |
change y/y PLN’000 |
change y/y % |
|---|---|---|---|---|
| Net profit for the period | 184,526 | 731,060 | (546,534) | (74.8%) |
| Other comprehensive income | ||||
| Items that will be reclassified subsequently to profit or loss upon fulfilment of certain conditions | (854,322) | 132,361 | (986,683) | (745.4%) |
| Mark-to-market of assets measured at fair value through other comprehensive income | (969,416) | 163,408 | (1,132,824) | (693.2%) |
| Deferred tax | 184,189 | (31,047) | 215,236 | (693.3%) |
| Mark-to-market of derivatives in cash flow hedge accounting | (85,303) | – | (85,303) | – |
| Deferred tax | 16,208 | – | 16,208 | – |
| Items that will not be reclassified subsequently to profit or loss | 2,728 | (1,714) | 4,442 | (259.2%) |
| Actuary valuation of employee benefits | 3,368 | (2,116) | 5,484 | (259.2%) |
| Deferred tax | (640) | 402 | (1,042) | (259.2%) |
| Other comprehensive income (net of tax) | (851,594) | 130,647 | (982,241) | (751.8%) |
| Total comprehensive income | (667,068) | 861,707 | (1,528,775) | (177.4%) |