Wojciech Rudziński

SME and Corporate Banking Sales Management Bureau Director

Przemek Gdański

President of the Management Board, BNP Paribas Bank Polska

It was a hard year for banks as they had to cope with an environment of economic instability and ever-growing regulatory costs. Against all odds, in 2022 we recorded a positive financial result and increases in key categories of net banking income, having corroborated the suitability of our path towards growth and development embedded in the GObeyond strategy.

Yet we are still dealing with highly uncertain conditions. In addition to the current business environment, the geopolitical situation and the invasion of Ukraine, political decisions and regulatory uncertainty lurk as some of the key risk factors for the whole sector, affecting its future ability to fund the economy. These days, we are facing an unprecedented accumulation of unfavorable circumstances, but we are ready to tackle them as a stable, resilient and agile organization.

Key figures

PLN 441million

net profit

PLN 5,352million

net banking income

PLN 151.5billion






PLN 93.1billion

gross loans

PLN 1,166million

net profit w/o credit holidays impact

PLN 6,247million

net banking income w/o credit holidays impact

PLN 152.2billion

assets w/o credit holidays impact


ROE w/o credit holidays impact


Cost/Income w/o costs of BFG, IPS and credit holidays impact

PLN 94.0billion

gross loans w/o credit holidays impact

2022 was marked by economic uncertainty, increased regulatory costs and a lingering need to increase the volume of provisions related to the CHF loan portfolio.

In March 2022, we launched the new GObeyond strategy for 2022-25, which focuses on organic growth while maintaining a responsible approach to risk management.

Thanks to our business model and consistently implemented strategy, despite the high regulatory burdens we incurred during the year, we generated a net profit of PLN 265 million, i.e. 150%, higher than in 2021.

Net profit

PLN 441 million
    • 150 %


Total regulatory burdens and CHF provisions stood at above PLN 2 billion in 2022 (+74% y/y). The elements of the regulatory environment that negatively affected the results in 2022 compared to 2021 include:

  • „credit holidays” – PLN 895 million,
  • contributions to the Bank Guarantee Fund (BFG) and newly established Institutional Protection Scheme (IPS) – PLN 359 million (+150% y/y),
  • payments to the Borrowers’ Support Fund – PLN 75 million.

Excluding the negative impact of credit holidays, the Group’s net profit in 2022 would be PLN 990 million (i.e. 562%) higher than that generated in 2021. The factor significantly affecting the level of the Group’s net result in 2022 continues to be the costs for legal risk provisions related to foreign currency loans.

Statement of profit or loss

The Group’s net banking income was higher by 11% compared to 2021, and excluding the credit holidays impact – by 30% y/y.

The most important events affecting the level of net banking income in 2022 and its comparability with the preceding year were changes in the macroeconomic situation, including, above all, the strongest increase in the inflation rate in decades, which became apparent already in the fourth quarter of 2021 and accelerated significantly with the outbreak of the war in Ukraine. The net interest income shows the positive effects of the increase in NBP interest rates, but at the same time it was significantly burdened by credit holidays being booked.

Result on banking activity

    • 4,809 PLN million


    • 5,352 PLN million


    • 11 %


Net interest margin calculated in relation to average assets amounted to 2.5% and was similar to the level calculated for 2021. The positive impact of the increase in NBP interest rates in 2022 (reference rate higher by 500 b.p. y/y) was neutralized by the recognition of the negative impact of credit holidays.

General administrative expenses (including depreciation and amortization) of the Group were higher by PLN 495 million, compared to 2021. In addition to the increase in regulatory costs described above, this was also due to inflationary pressures translating into an increase in personnel and administrative costs. The Cost/Income ratio calculated on the basis of reported volumes was 3.9 p.p. higher compared to 2021 as a result of recognizing the impact of credit holidays in net interest income and higher costs of the BFG and IPS.

The high quality of the Group’s loan portfolio and timely servicing of loans translated into a stable cost of risk. The share of impaired receivables in the loan portfolio (measured at amortized cost) was 3.3% at year-end 2022.

The Group’s return on equity (ROE), calculated on a reported basis, was higher than at the end of 2021. Its level was significantly distorted by the occurrence in 2022 of the negative impact of credit holidays and the recognition, especially in 2022 and 2021, of significant costs for provisions for risks related to foreign currency mortgage loan litigation.

Statement of financial position

Total assets

    • 131,777 PLN million


    • 151,517 PLN million


    • 15 %


The Group’s total assets as at the end of 2022 were higher by PLN 19.7 billion compared to the end of 2021. The most important change in the Group’s asset structure compared to that at the end of 2021 was a decrease in the share of the loan portfolio with an increase in receivables from banks and an increase in shares of the securities portfolio.

Across 2022, the total value of Customer deposits increased significantly. This trend was noticeable both in the segment of Retail Customer (+9% y/y) and the Institutional Customer segment (+25% y/y). The customer deposit structure also changed – the share of term deposits increased at the expense of current accounts (from 11% at the end of 2021 to 31% at the end of 2022).

At the end of 2022, net loans and advances to Customers (the sum of portfolios measured at amortized cost and measured at fair value) increased by PLN 3.7 billion, compared to the end of 2021. The portfolio of Institutional clients increased by 8% y/y, with a stable volume of loans to Retail Customers.

The Tier 1 capital ratio at the end of 2022 was 11.28%, and the total capital ratio was 15.55%. Both ratios remain above the required regulatory values.

2020 2021 2022 Change 2021/2022
Statement of financial position (PLN million)
Total assets 119,577 131,777 151,517 15.0%
Total net loans and advances to customers (sum of portfolios measured at amortised cost and measured at fair value through profit or loss) 75,637 86,299 90,040 4.3%
Deposits 90,051 100,991 119,529 18.4%
Statement of profit or loss (PLN million)
Net profit 733 176 441 150.4%
Net profit normalized1 721 176 1,166 561.6%
Net banking income 4,705 4,809 5,352 11.3%
Result on provisions for legal risk related to foreign currency loans (168) (1,045) (740) (29.2%)
Net impairment losses on financial assets and contingent liabilities (601) (266) (275) 3.3%
General administrative expenses & Depreciation and amortization (2,506) (2,544) (3,038) 19.5%
Financial ratios
Net ROE 6.3% 1.5% 3.9% 2.5 p.p.
Net ROE normalized1 6.2% 1.5% 10.2% 8,7 p.p.
C/I 53.3% 52.9% 56.8% 3.9 p.p.
C/I normalized1 49.0% 49.9% 42.9% (7.0 p.p.)
Net interest margin 2.63% 2.51% 2.46% 0.05 p.p.
Cost of risk (0.78%) (0.32%) (0.30%) 0.03 p.p.
Total Capital Ratio (TCR) 18.65% 16.91% 15.55% (1.36 p.p.)
  1. Normalized values calculated excluding credit holidays impact, integration costs incurred in connection with the implementation of the merger processes in 2016-2020.

Management Board Report

Management Board Report on the activities of BNP Paribas Bank Polska S.A. Group in 2022