Current Report No. 54/2014


The results of AQR and stress test of Bank Zachodni WBK S.A.

The results of an asset quality review (AQR) carried out by the European Central Bank (ECB) and the results of stress tests carried out by the ECB in cooperation with the European Banking Authority (EBA) as at 31st December, 2013 were released today. At the same time, the Financial Supervision Commission in Poland has released the results of its AQR and stress test covering 15 banks in the Polish banking sector.

The AQR and stress test results confirm that Bank Zachodni WBK S.A. (BZ WBK) operates with capital adequacy ratios significantly exceeding the requirements of the regulator, is financially stable and has very high resilience to adverse economic conditions.

At the end of 2013 BZ WBK’s Core Tier 1 ratio was 12.55%, well above the requirements of the Financial Supervision Commission which sets the minimum Core Tier 1 level at 9%. 

The post AQR adjustment to Capital is not material and equates to an impact of 0.53% to the   BZ WBK Group's Core Tier 1 capital ratio. Combining the AQR and stress test results (under severe adverse conditions) together, the BZ WBK Group’s Core Tier 1 ratio increases by 1.19%.

 Mateusz Morawiecki, CEO of BZ WBK commenting on the results of tests, said that "These results confirm the financial strength and high resistance of the bank to negative financial conditions. The results do not surprise us, because as the third financial group in Poland, we regularly review our risk profile and build our position based on conservative risk foundations. In recent years, the bank has significantly increased it capital, and, inter alia, thanks to the conservative, prudent policy achieves stable success."

Management Board of BZ WBK encloses to this current report the results of AQR and stress tests of BZ WBK.

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Legal basis:    

Art. 56 section 1.1 of the Act on Public Offering, the Conditions Governing the Introduction of Financial Instruments to Organised Trading, and on Public Companies.

Santander Bank Polska S.A. with its registered office in Warsaw, al. Jana Pawła II 17, 00-854 Warszawa, registered by the District Court for the capital city of Warsaw, 12th Commercial Division, set up under regulation of the Council of Ministers of 11 April 1988 on setting up Bank Zachodni in Wrocław (Journal of Laws of 1 July 1988, No. 21, item 142), registered under KRS number 0000008723, REGON 930041341, NIP 896 000 56 73, share capital of PLN 1,020,883,050 paid-up in full. Helpline: 1 9999 – fee as per the operator’s tariff.

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