In 2021 BOŚ Group made a net profit of over PLN 47 million. Interestingly, a year earlier the bank recorded a net loss of nearly PLN 307 million.
The amount of loans and credits granted last year increased by 27 percent year-on-year. On the other hand, the sale of pro-environmental loans in the same period increased by 24 percent y/y. The year 2021 was a time of dynamically changing market conditions. For the bank it was also a period of announcing and implementing a new development strategy, which aims to return to the path of sustainable profitability.
In the past year, BOŚ Group achieved improved results – in the area of interest and fee and commission income.
The improvement of the interest margin is a result of lower interest rates on deposits and the restructuring of the credit portfolio. The above was also influenced by the MPC’s decision to raise interest rates, which is continued this year.
On the other hand, higher net fee and commission income recorded by the bank was influenced by an increase in commissions on loans and guarantees granted. Last year, total loan sales increased by 27 percent y/y, while sales of pro-environmental loans were 24 percent higher than that achieved in 2020. However, as was the case so far, the largest share of the BOŚ Group’s commission income in 2021 were fees from brokerage activities.
