During the session on 30 December 2020, the share closing price amounted to PLN 63.60 and was 6.47% lower than on 30 December 2019. In the same period, the WIG Banks index fell by 29.59%. The main reason was the development of the coronavirus pandemic, freezing the economy and concerns about the necessity of making reserves and deterioration of Banks’ results related to it. A significant decrease of share prices occurred in mid-March 2020 (on 10 March 2020 the share price was PLN 60.40, on 20 March 2020 it was PLN 48.00). The second and third quarter did not bring any improvement and an annual minimum was observed on 30 October (PLN 33.10), following an increase in the number of coronavirus cases and the uncertainty regarding the scale and duration of introduced sanitary restrictions. A durable reverse of the trend came in November and lasted until the end of the year. It almost allowed the Bank to recover from the losses, unlike the industry index, which closed the year at nearly a third lower than at the end of last year.
A relatively better development of the Bank’s share price was positively influenced by a consistent implementation of the strategy and visible in 2020 increase of financial results, made possible by a successful integration with Core Business of Raiffeisen Bank Polska S.A. and adjustment measures aimed at neutralizing the negative impact of the coronavirus pandemic on the Bank’s results.
While in the first quarter of 2020 an average daily share price remained on a relatively high level (PLN 66.24), the second quarter brought a noticeable decrease of an average share price (to PLN 49.87) and in the third quarter that decrease deepened (PLN 46.13). October was the worst month with an average price of PLN 38.12. An increase of share price in November and October allowed a slight increase of quarterly average to PLN 46.49.
Average daily volumes of trading in the first, second and third quarter of 2020 reamined at a relatively low level (2,258.25 shares, 2,079.48 shares and 2,473.15 shares respectively). Combined with a noticeable decrease of an average share price in the second quarter of 2020, it was also reflected in changes of an average daily value of trading, which in the first three quarters of 2020 amounted to, respectively: PLN 145.09 thousand, PLN 104.98 thousand and 109.46 thousand. During the session on 18 September 2020 an annual maximum of trading volume (84,909 shares) and value of trading (PLN 3,582.45 thousand) were observed. A reverse of the negative trend recorded in the fourth quarter of 2020 brought a rebound of an average daily volume of trading to 5,784.13 shares and an average daile value of trading to PLN 261.45 thousand.
Despite share prices’ slump, reflected in the decrease of the Bank’s average daily share price from PLN 58.90 in 2019 to PLN 52.23 in 2020; there was a noticeable growth of investors’ interest, which translated into the growth of an average daily volume of trading by 70.07% and an average daily value of trading of the Bank’s shares by 31.86% (from 1,860.55 shares and PLN 118.26 thousand in 2019 to 3,164.17 shares and PLN 155.94 thousand in 2020 respectively).