Slides
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Bank Handlowy w Warszawie S.A. 3Q’26 earning conference November 5, 2026
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2 3Q’26 | Financial results summary FINANCIAL RESULTS 764 Revenue (PLN MM) 288 Net profit (PLN MM) 18.6% ROE BALANCE SHEET (YoY dynamics) +11% YoY Loans +10% YoY Deposits EQUITY 24.3% TCR KEY TRENDS IN Q3 2026 Bank’s revenue growth of 10% QoQ, driven by high client activity and the Financial Markets segment The highest quarterly revenues for the Corporate Banking segment this year Increase in operating expenses by 17% QoQ as a result of investments in infrastructure and technological resilience Third consecutive quarter of growth in foreign exchange transaction volumes (+20% QoQ) Successful execution of an accelerated offering of shares for XTB, valued at PLN 1.5 billion Granting new financing of PLN 1.5 billion (+5% QoQ), with over 70% allocated to Global Clients Bank for Global Business
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4 160 4 568 4 708 5 892 6 009 11 950 11 788 12 837 12 053 11 913 16 110 16 356 17 545 17 945 17 922 09.2025 12.2025 03.2026 06.2026 09.2026 Non-financial sector Financial sector 0% Banking sector (1%) +11% Banking sector+4% 3 Corporate Banking and Financial Markets | Business volumes biznesowe Loan volumes (PLN MM) Deposits volumes (PLN MM) Products | Key 3Q’26 dynamics excluding reverse-repo transactions and collateral deposits 35 071 33 641 39 119 40 371 37 257 5 318 6 014 6 710 6 704 7 280 40 389 39 654 45 829 47 075 44 537 09.2025 12.2025 03.2026 06.2026 09.2026 +10% (5%) Banking sector +6% Financial Markets ↑ 47% YoY – FX transaction volumes ↑ 40% YoY – value of transactions concluded through brokerage department Transaction activity and Custody ↑ 5% YoY – numer of domestic money transfers ↑ 32% YoY – value of trade finance assets ↑ 35% YoY – volume of assets under custody - new financing granted and increase in current financing volume Dynamics of clients’ assets: Bankowość relacyjna 1,5 mld zł Segment QoQ YoY Global Clients +4% +27% Corporate Clients (1%) +17% Commercial Banking (10%) (20%) Dynamics of liabilities to clients: Banking sector +11% Non-financial sector Financial sector Segment QoQ YoY Global Clients (10%) +5% Corporate Clients +8% +30% Commercial Banking (2%) +7% Public Sector (22%) +14% PLN 1.5 B Relationship Banking
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Institutional Banking | Business activity 4 Selected financing structures and the roles of Citi Handlowy: F I N A N C I A L M A R K E T S Accelerated offering of shares Area: Financial Markets Transaction type: Accelerated offering of shares Citi Handlowy’s Corporate Banking division executes key advisory and financial transactions for leading enterprises. PLN 1.5 B S U P P O R T I N G D E F E N S E C A P A B I L I T I E S Guarantee line Area: Defence support Transaction type: Guarantee line P H A R M A C E U T I C A L S E C T O R Syndicated loan Area: Refinancing and development support Transaction type: Syndicated loan PLN 745 MM PLN 150 MM PolpharmaClient from defence sectorXTB
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Citi WarsawMacro Conference 2026
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Consolidated financial results 6
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301 577 273 336 441 394 423 428 742 971 696 764 3Q 2025 1Q 2026 2Q 2026 3Q 2026 +3% +10% +1% QoQ (3%) YoY +23% QoQ +12% YoY 7 The highest quarterly revenue of Corporate Banking segment this year 57% 54% 49% 7% 8% 7% 28% 31% 37% 8% 7% 7% 3Q 2025 2Q 2026 3Q 2026 Dynamic growth of income on FX transactions Relationship Banking: credit activity excl. trade finance and investment activity Custody: custody activity Capital markets: client activities in the capital market and FX market, as well as interbank operations Transaction Banking: liquidity management, payments, trade finance and working capital Corporate Banking (Services & Banking) Financial Markets Realized gains on the sale of investment debt securities Total Revenue | Corporate Banking and Financial Markets Total Revenue (PLN MM) Client Revenues (%) management view FX and capital markets Custody Transaction Banking Relationship Banking
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8 176 178 162 167 340 293 297 313 516 471 459 480 3Q 2025 1Q 2026 2Q 2026 3Q 2026 1) Net Interest margin = quarterly net interest income x 4 / average working assets balance for last 4 consecutive quarters (7%) +4% 4.00% 4,15% 3,95% 3,64% 3,58% 3,38% 3,20% 3,13% 3,13% 3,14% 3,16% 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 4.75% 3.75% +5% QoQ (8%) YoY +3% QoQ (5%) YoY 3.75% Controle of interest expenses and increasing profitability of the investment debt securities portfolio driving total net interest income growth 3.75% Since 3Q’26 net interest income of the Bank consists of Corporate banking and Financial Markets segments alone. Net interest income | Corporate Banking and Financial Markets Net interest income (PLN MM) Net interest margin Net interest margin 1) – Bank vs. Banking Sector NBP reference rate: Banking sector Corporate Banking (Services & Banking) Financial Markets Bank
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9 64 65 66 65 28 30 34 33 11 9 14 133 4 5 6106 107 119 116 3Q 2025 1Q 2026 2Q 2026 3Q 2026 +10% (2%) (2%) QoQ +1% YoY (4%) QoQ +16% YoY (2%) QoQ +23% YoY +17% QoQ +104% YoY +32% YoY +40% YoY Trade finance assets volume Capital markets transactions volume Kontynuacja silnego trendu: dwucyfrowy wzrost YoY przez dwa kolejne kwartały 323 342 1-3Q 2025 1-3Q 2026 +6% Net fee and commission income (PLN MM) Business volumes (PLN MM) Net fee and commission income | Corporate Banking and Financial Markets Net fee & commission income (PLN MM) Transaction Banking Custody Relationship Banking Brokerage Continuation of a strong trend: double-digit YoY growth for two consecutive quarters
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10 (3) 2 3 9 19 195 27 5 109 202 81 155 176 179 162 167 301 577 273 336 3Q 2025 1Q 2026 2Q 2026 3Q 2026 +12% +23% 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 +5% (11%) 137 241 (108) 85 (285) 09.2025 12.2025 03.2026 06.2026 09.2026 33% 33% 33% 32% 34% 47% 44% 38% 49% 48% 20% 22% 29% 18% 18% 100% 100% 100% 100% 100% 09.2025 12.2025 03.2026 06.2026 09.2026 68% 66% (3%) 67% +18% Financial Markets | Markets Net interest income Trading result1) AFS result Income on FX – client activity Revaluation reserve (PLN MM) Treasury result (PLN MM) Balance sheet structure (%) Debt investment financial assets and assets held for trading Operations with Central Bank and Amounts due from banks Other 1) Trading result: valuation and sale of debt financial assets held for trading, derivatives operations, result on FX 2) Other: brokerage, result on hedging Other 2)
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619 794 0,5 51 90 8 27 1-3Q 2025 operating expenses Staff expenses IT expenses Other administrative expenses Regulatory expenses Depreciation 1-3Q 2026 operating expenses 11 +28% Strategic expenditures on technology and human capital, supporting transformation into fully institutional banking model Investments in key IT areas: cybersecurity, front-end and back-office platforms modernization as well as development of AI utilization and automation 104 127 123 128 55 79 77 11110 11 12 9 118 170 335 211 248 3Q 2025 1Q 2026 2Q 2026 3Q 2026 +44% QoQ +100% YoY +4% QoQ +22% YoY 23% 30%34% 217 +46% +17% 32% Expenses | Corporate Banking and Financial Markets Operating expenses (PLN MM) Expenses excl. Regulatory expenses Regulatory expenses 1-3Q’26 Expenses by type (PLN MM) Cost / Income (quarterly approach) Administrative expenses Staff expenses Depreciation
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12 20 17 59 30 3Q 2025 1Q 2026 2Q 2026 3Q 2026 (PLN MM) Citi Handlowy2,6% 2,7% 2,4% 2,4% 2,5% 2,4% 2,0% 3,6% 3,9% 5,7% 5,7% 5,7% 5,6% 5,7% 5,5% 6,0% 6,1% 6,0% 3Q 2024 4Q 2024 1Q2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 3 12 14 8 18 14 18 47 50 3Q 2024 4Q 2024 1Q2025 2Q 2025 3Q 2025 4Q 2025 1Q 2026 2Q 2026 3Q 2026 *Ratio of provisions for loan losses over last four quarters divided by the average volume of the loan portfolio for last four quarters, High quality of the loan portfolio achieved through strategic focus on well-defined target market. NPL ratio remains below sector average Average cost of risk in competitors corporate banking Citi Handlowy 60 50 Cost of Risk | Corporate Banking and Financial Markets *Increase of provisions presented with the sign (+), decrease with the sign (-) Cost of risk in bps.* Share of stage 3 in loan portfolio (amounts due from non-financial sector) Cost of Risk Risk ratios Banking sector
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13 Summary of the Capital Group financial results 3Q26 2Q26 QoQ 3Q25 YoY 1-3Q 2026 1-3Q 2025 YoY CONTINTUED ACTIVITY: Net interest income 480 459 4% 516 (7%) 1 410 1 594 (12%) Net fee and commission income 116 119 (2%) 106 10% 342 323 6% Core revenues 596 578 3% 622 (4%) 1 753 1 917 (9%) Treasury 162 107 51% 125 30% 663 447 48% Other income 5 11 (49%) (4) - 16 (8) - Total revenue 764 696 10% 742 3% 2 431 2 355 3% Operating expenses and depreciation (248) (211) 17% (170) 46% (794) (619) 28% Operating margin 516 485 7% 573 (10%) 1 637 1 736 (6%) Cost of risk (30) (59) - (20) - (106) (29) - Profit on sale of other assets (0) 30 - (0) - 30 1 - Bank levy (27) (44) (38%) (31) (14%) (103) (96) 8% Profit before tax 460 412 12% 522 (12%) 1 458 1 613 (10%) Income tax expense (153) (136) 12% (110) 39% (483) (327) 48% Net profit 288 321 (10%) 469 (39%) 995 1 070 (7%) Net profit from continued activity 307 276 11% 411 (25%) 975 1 286 (24%) Net profit from discontinued activity (19) 45 - 58 - 20 (216) - ROE 18.6% 20.9% (2%) 17.1% 2% 18.6% 17.1% (2%) ROA 2.1% 2.2% (0.2%) 1.8% 0.3% 2.1% 1.8% (0.2%) Revaluation reserve (285) 85 - 36 - (285) 36 - Assets 67 797 72 572 (7%) 79 524 (15%) 67 797 79 524 (15%) Institutional clients' loans (excl. reverse repo) 17 922 17 945 0% 16 110 11% 17 922 16 110 11% Deposits 44 537 47 075 (5%) 40 389 10% 44 537 40 389 10% Total capital ratio (TCR) 24.3% 25.8% 22.3%
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Appendix 14
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15 Citi Handlowy – change in share price Change in Bank’s share price vs. WIG-Banks index BHW’s share valuation vs. other banks * 0 100 000 200 000 300 000 400 000 500 000 600 000 0,00 20,00 40,00 60,00 80,00 100,00 120,00 140,00 160,00 180,00 200,00 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26 Jul-26 Aug-26 Sep-26 Oct-26 Nov-26 P/E P/BV 0,8 1,0 1,2 1,4 1,6 1,8 2,0 2,2 2,4 WIG-Banks Citi Handlowy volumes Change in share price performance (1 year perspective): Citi Handlowy +23% WIG-Banki +54% PLN 97,83 PLN 150.23 PLN 120.20 Citi Handlowy Citi Handlowy 8.9 PL banks* 12.8 Citi Handlowy 1.7 PL banks* 2.2 Last quoted on November 3rd, 2026 (Citi Handlowy: PLN 120.20) * Other banks – the 8 largest banks in Poland 4,0 6,0 8,0 10,0 12,0 14,0
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16 Forecasts for Polish economy GDP of Poland (%, YoY) 3,6 3,7 4,1 3,5 3,3 3,6 3,1 2025 1Q 2026F 2Q 2026F 3Q 2026F 4Q 2026F 2026F 2027F Based on Citi analyst forecasts (data as of November 2, 2026) Consumption and investments (%, YoY) Based on Citi analyst forecasts (data as of November 2, 2026) 3,7 2,7 2,64,3 7,6 1,1 2025 2026F 2027F • Despite high energy prices, economic activity in Poland remains at a high level. As a result, growth for the year as a whole could exceed 3.5%, and figures approaching 4% even seem attainable. • At the same time, strong price pressure persists. In the coming months, inflation is likely to remain above the upper limit of the inflation target, due in part to high energy and food prices, as well as elevated core inflation. • In this context, it is becoming increasingly difficult for the Monetary Policy Council (MPC) to justify keeping interest rates unchanged. Although the Council’s chairman sought to temper expectations for rate hikes in October, we believe the MPC will likely opt to tighten monetary policy by 50–75 basis points over the next six months. Several factors support such a move, including negative real interest rates, rate hikes by the ECB and the Fed, and the risk of further weakening of the zloty should no action be taken. • The current account deficit widened in August, with the cumulative 12-month balance falling to - 1.3% of GDP. The trade balance remains the primary driver of this deterioration, even though the growth rates of both exports and imports stay at a high level. • In October, the zloty lost value. Pressure on the domestic currency is being compounded by deteriorating fiscal prospects, uncertainty surrounding the National Bank of Poland (NBP), and a growing current account deficit. NBP reference rate (%, EoP) 4,00 3,75 4,25 2025 2026F 2027F Investments Private consumption Based on Citi analyst forecasts (data as of November 2, 2026
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17 Capital Group – profit and loss account 3Q25 4Q25 1Q26 2Q26 3Q26 3Q26 vs.2Q26 3Q26 vs.3Q25 PLN MM PLN MM % PLN MM % CONTINUED OPERATIONS Net interest income 516 511 471 459 480 20 4% (37) (7%) Net fee and commission income 106 108 107 119 116 (2) (2%) 11 10% Dividend income 1 0 0 14 1 (13) (95%) (0) (19%) Net gain on trading financial instruments and revaluation 109 81 202 81 155 73 91% 45 42% Net gain on debt investment financial assets measured at fair value through other comprehensive income 19 9 195 27 5 (22) (81%) (14) (72%) Hedge accounting (4) 4 (4) (1) 3 4 - 6 - Treasury 125 94 393 107 162 55 51% 38 30% Net gain on other equity instruments 0 17 (6) (7) 1 7 - 0 177% Net other operating income (6) 2 5 3 4 1 21% 10 - Revenue 742 732 971 696 764 68 10% 22 3% Expenses (160) (155) (324) (200) (238) (39) 19% (79) 49% Depreciation (10) (10) (11) (12) (9) 2 (19%) 1 (6%) Expenses and depreciation (170) (165) (335) (211) (248) (36) 17% (78) 46% Operating margin 573 567 636 485 516 32 7% (56) (10%) Net impairment allowances on non-financial assets - - - - - - - - - Profit/(loss) on sale of tangible fixed assets (0.0) (0.0) (0.1) 30.0 (0.1) (30.1) - (0.0) 175% Provision for expected credit losses on financial assets and provisions for off–balance sheet commitments (20) 3 (17) (59) (30) 30 (50%) (10) 51% Tax on certain financial institutions (31) (28) (33) (44) (27) 17 (38%) 5 (14%) Profit before tax from continuing operations 522 541 587 412 460 48 12% (62) (12%) Corporate income tax (110) (69) (194) (136) (153) (17) 12% (42) 39% Net profit from continuing operations 411 473 392 276 307 31 11% (104) (25%) Net profit from discontinued operations 58 124 (7) 45 (19) (64) - (77) - Net profit from continuing and discontinued operations 469 596 386 321 288 (33) (10%) (181) (39%) C/I ratio 23% 23% 34% 30% 32%
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18 Corporate Banking - profit and loss account 3Q25 1Q26 2Q26 3Q26 3Q26 vs. 2Q26 3Q26 vs 3Q25 PLN MM PLN MM % PLN MM % Net interest income 340 293 297 313 15 5% (27) (8%) Net fee and commission income 104 104 115 111 (4) (4%) 7 7% Dividend income 0.9 0.1 14.1 0.8 (13) (95%) (0) (19%) Net gain on trading financial instruments and revaluation - - - - - - - - Net gain on debt investment financial assets measured at fair value through other comprehensive income - - - - - - - - Hedge accounting - - - - - - - - Treasury - - - - - - - - Net gain on other equity instruments 0 (6) (7) 1 7 - 0 177% Net other operating income (4) 3 3 3 (0) (0%) 7 - Revenue 441 394 423 428 5 1% (13) (3%) Expenses (119) (246) (146) (169) (23) 16% (51) 43% Depreciation (7) (8) (8) (7) 1 (17%) 0 (6%) Expenses and depreciation (126) (253) (154) (176) (22) 14% (50) 40% Operating margin 315 141 268 252 (16) (6%) (63) (20%) Profit/(loss) on sale of tangible fixed assets (0.0) (0.1) 22.0 (0.1) (22) - (0) 253% Provision for expected credit losses on financial assets and provisions for off– balance sheet commitments (15) (21) (57) (31) 26 (45%) (16) 107% Tax on certain financial institutions (23) (24) (33) (21) 12 (35%) 2 (8%) EBIT 277 96 200 199 (1) (1%) (78) (28%) C/I ratio 29% 64% 37% 41%
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19 Financial Markets - profit and loss account 3Q25 1Q26 2Q26 3Q26 3Q26 vs.2Q26 3Q26 vs.3Q25 PLN MM PLN MM % PLN MM % Net interest income 176 179 162 167 5 3% (9) (5%) Net fee and commission income 2 4 4 6 2 57% 4 196% Dividend income - - - - - - - - Net gain on trading financial instruments and revaluation 109 202 81 155 73 91% 45 42% Net gain on debt investment financial assets measured at fair value through other comprehensive income 19 195 27 5 (22) (81%) (14) (72%) Hedge accounting (4) (4) (1) 3 4 - 6 - Treasury 125 393 107 162 55 51% 38 30% Net gain on other equity instruments - - - - - - - - Net other operating income (2) 2 0 1 1 183% 3 - Revenue 301 577 273 336 63 23% 35 12% Expenses (41) (79) (53) (69) (15) 29% (28) 68% Depreciation (3) (3) (3) (3) 1 (23%) 0 (5%) Expenses and depreciation (44) (82) (57) (72) (15) 26% (28) 64% Operating margin 258 496 216 265 48 22% 7 3% Profit/(loss) on sale of tangible fixed assets (0) (0) 8 (0) (8) - 0 (60%) Provision for expected credit losses on financial assets and provisions for off– balance sheet commitments (4) 4 (2) 2 4 - 6 - Tax on certain financial institutions (8) (9) (11) (6) 5 (47%) 3 (31%) EBIT 245 491 211 261 49 23% 16 6% C/I ratio 14% 14% 21% 21%
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20 Balance sheet - assets Sep.26 vs. Dec.25 Sep.26 vs. Sep.25 PLN B Sep. 2025 Dec. 2025 Mar. 2026 Jun. 2026 Sep. 2026 PLN B % PLN B % Cash and cash equivalents 8.2 9.2 13.7 2.8 2.8 (6.4) (70%) (5.4) (66%) Amounts due from banks 7.3 8.2 11.6 10.4 9.2 1.0 12% 2.0 27% Financial assets held-for-trading 5.4 4.8 3.8 4.6 4.1 (0.7) (15%) (1.3) (25%) Debt financial asstes measured at fair value through other comprehensive income 32.1 30.2 29.6 31.2 28.5 (1.6) (5%) (3.6) (11%) Net gain/(loss) on equity and other instruments measured at fair value through income statement 0.2 0.2 0.2 0.1 0.1 (0.0) (27%) (0.0) (20%) Customer loans 18.4 18.2 21.0 21.1 20.8 2.6 14% 2.4 13% Financial sector entities 6.4 6.4 8.2 9.1 8.9 2.4 37% 2.4 37% including reverse repo receivables 0.5 0.0 1.9 1.6 1.1 1.1 9688% 0.5 96% Non-financial sector entities 11.9 11.8 12.8 12.1 11.9 0.1 1% (0.0) (0%) Tangible fixed assets 0.4 0.4 0.4 0.3 0.3 (0.1) (26%) (0.1) (27%) Intangible assets 0.9 0.9 0.9 0.9 0.9 0.0 0% 0.0 1% Deferred tax asset 0.2 0.2 0.3 0.1 0.1 (0.1) (52%) (0.1) (45%) Non-current assets held-for-sale and assets in disposal groups held-for-sale 6.1 6.1 6.0 - - (6.1) (100%) (6.1) (100%) Other assets 0.4 0.4 0.7 0.9 0.9 0.5 136% 0.5 119% Total assets 79.5 78.8 88.2 72.6 67.8 (11.1) (14%) (11.7) (15%)
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21 Balance sheet – liabilities and equity Sep.26 vs. Dec.25 Sep.26 vs. Sep.25 PLN B Sep. 2025 Dec. 2025 Mar. 2026 Jun. 2026 Sep. 2026 PLN B % PLN B % Liabilities due to banks 3.3 3.9 5.2 9.5 5.5 1.6 40% 2.1 64% Financial liabilities held-for-trading 2.7 2.7 2.8 2.9 2.4 (0.3) (10%) (0.3) (10%) Financial liabilities due to customers 39.4 38.4 44.7 48.2 48.8 10.4 27% 9.4 24% Financial sector entities - deposits 5.3 6.0 6.7 6.7 7.3 1.3 21% 2.0 37% Non-financial sector entities - deposits 34.1 32.4 38.0 41.5 41.5 9.1 28% 7.4 22% Liabilities in disposal groups held-for-sale 22.4 22.3 22.4 - - (22.3) (100%) (22.4) (100%) Other liabilities 2.3 1.5 3.1 2.6 1.9 0.4 27% (0.4) (19%) Total liabilities 70.2 68.8 78.1 63.2 58.6 (10.2) (15%) (11.6) (17%) Share capital 0.5 0.5 0.5 0.5 0.5 - 0% - 0% Supplementary capital 3.0 3.0 3.0 3.0 3.0 - 0% 0.0 0% Own shares (0.0) (0.0) (0.0) (0.0) (0.0) (0.0) 44% (0.0) 44% Revaluation reserve 0.1 0.2 (0.1) 0.1 (0.3) (0.5) - (0.4) - Other reserves 4.7 4.7 4.6 4.6 4.6 (0.0) (1%) (0.0) (1%) Retained earning 1.1 1.7 2.0 1.1 1.4 (0.3) (15%) 0.3 32% Total Equity 9.3 10.0 10.1 9.3 9.2 (0.8) (8%) (0.1) (1%) Total liabilities & equity 79.5 78.8 88.2 72.6 67.8 (11.1) (14%) (11.7) (15%) Loans / Deposits ratio 40% 41% 38% 38% 40%
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Contents Double click the XX and backspace to remove. To add extra rows Go to the end of the line, hit return then CTRL Z (to undo autoformatting). Type the number, TAB key, Agenda Item, TAB key, type page number. 00 TAB Text TAB XX Contents Double click the XX and backspace to remove. To add extra rows Go to the end of the line, hit return then CTRL Z (to undo autoformatting). Type the number, TAB key, Agenda Item, TAB key, type page number. 00 TAB Text TAB XX Contact: Investor Relations: relacjeinwestorskie@citi.com Adam Piotrak Head of Investor Relations Bureau adam.piotrak@citi.com Monika Paczuska Investors Relations Analysts monika.paczuska@citi.com