LSE:BPKD

Stock Analysis Report

Bank Polska Kasa Opieki

Executive Summary

Bank Polska Kasa Opieki S.A., a commercial bank, provides a range of banking services to individual, retail, corporate, and institutional clients primarily in Poland.


Snowflake Analysis

Established dividend payer and good value.


Similar Companies

Share Price & News

How has Bank Polska Kasa Opieki's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BPKD has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

BPKD

-1.4%

GB Banks

6.2%

GB Market


1 Year Return

0%

BPKD

-33.5%

GB Banks

-22.7%

GB Market

Return vs Industry: BPKD exceeded the UK Banks industry which returned -33.5% over the past year.

Return vs Market: BPKD exceeded the UK Market which returned -22.7% over the past year.


Shareholder returns

BPKDIndustryMarket
7 Day0%-1.4%6.2%
30 Day0%-22.0%-17.8%
90 Day0%-34.6%-27.7%
1 Year5.1%0%-28.8%-33.5%-18.6%-22.7%
3 Year17.2%-2.1%-32.0%-41.3%-13.4%-24.6%
5 Year-25.7%-42.7%-29.7%-43.8%1.3%-22.0%

Price Volatility Vs. Market

How volatile is Bank Polska Kasa Opieki's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Bank Polska Kasa Opieki undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: BPKD ($28) is trading below our estimate of fair value ($63.37)

Significantly Below Fair Value: BPKD is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: BPKD is poor value based on its PE Ratio (6.7x) compared to the Banks industry average (4.6x).

PE vs Market: BPKD is good value based on its PE Ratio (6.7x) compared to the UK market (12.5x).


Price to Earnings Growth Ratio

PEG Ratio: BPKD is good value based on its PEG Ratio (0.7x)


Price to Book Ratio

PB vs Industry: BPKD is overvalued based on its PB Ratio (0.6x) compared to the GB Banks industry average (0.5x).


Next Steps

Future Growth

How is Bank Polska Kasa Opieki forecast to perform in the next 1 to 3 years based on estimates from 13 analysts?

9.4%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BPKD's forecast earnings growth (9.4% per year) is above the savings rate (0.5%).

Earnings vs Market: BPKD's earnings (9.4% per year) are forecast to grow slower than the UK market (15.4% per year).

High Growth Earnings: BPKD's earnings are forecast to grow, but not significantly.

Revenue vs Market: BPKD's revenue (7.6% per year) is forecast to grow faster than the UK market (2.6% per year).

High Growth Revenue: BPKD's revenue (7.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BPKD's Return on Equity is forecast to be low in 3 years time (11.1%).


Next Steps

Past Performance

How has Bank Polska Kasa Opieki performed over the past 5 years?

-2.8%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BPKD has a high level of non-cash earnings.

Growing Profit Margin: BPKD's current net profit margins (28.2%) are lower than last year (31.2%).


Past Earnings Growth Analysis

Earnings Trend: BPKD's earnings have declined by -2.8% per year over the past 5 years.

Accelerating Growth: BPKD's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BPKD had negative earnings growth (-5.3%) over the past year, making it difficult to compare to the Banks industry average (29.6%).


Return on Equity

High ROE: BPKD's Return on Equity (9.3%) is considered low.


Next Steps

Financial Health

How is Bank Polska Kasa Opieki's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: BPKD has a low level of unsold assets or inventory.

Debt Coverage by Assets: BPKD's debt is not covered by short term assets (assets are 0.7x debt).


Financial Institutions Analysis

Asset Level: BPKD's level of assets compared to its equity is low.

Allowance for Bad Loans: BPKD has a low allowance for bad loans.

Low Risk Liabilities: BPKD's liabilities are made up of primarily low risk sources of funding.

Loan Level: BPKD has an acceptable proportion of non-loan assets held.

Low Risk Deposits: BPKD's loans are broadly funded by customer deposits.

Level of Bad Loans: BPKD has a high level of bad loans (5.52%)


Next Steps

Dividend

What is Bank Polska Kasa Opieki's current dividend yield, its reliability and sustainability?

11.93%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: BPKD's dividend (11.93%) is higher than the bottom 25% of dividend payers in the UK market (2.7%).

High Dividend: BPKD's dividend (11.93%) is in the top 25% of dividend payers in the UK market (7.3%)


Stability and Growth of Payments

Stable Dividend: BPKD's dividend payments have been volatile in the past 10 years.

Growing Dividend: BPKD's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: At its current payout ratio (80%), BPKD's payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BPKD's dividends in 3 years are forecast to be covered by earnings (56.1% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.2yrs

Average management tenure


CEO

Marek Lusztyn

0.33

Tenure

zł1,946,000

Compensation

Mr. Marek Lusztyn is President of the Management Board at Bank Polska Kasa Opieki SA since November 29, 2019. Mr. Lusztyn had been Vice President of Management Board at Bank Pekao S.A. since July 07, 2017  ...


CEO Compensation Analysis

Compensation vs Market: Marek's total compensation ($USD475.90K) is below average for companies of similar size in the UK market ($USD2.48M).

Compensation vs Earnings: Marek's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Marek Lusztyn
President of the Management Board0.33yrzł1.95mno data
Tomasz Kubiak
Vice President of the Management Board of Financial Division2.67yrszł1.89mno data
Tomasz Styczynski
Vice President of the Management Board - Corporate Banking2.67yrszł1.93mno data
Marek Tomczuk
Vice President of Management Board - Retail Banking Division2.58yrszł2.30mno data
Magdalena Zmitrowicz
Vice President of the Management Board - SME Banking Division1.25yrszł1.21mno data
Grzegorz Olszewski
Vice President of Management Board - Technology & Operations Division0.17yrzł815.47kno data
Marcin Gadomski
Vice President of the Management Board - Risk Management Division1.17yrszł877.50kno data
Pawel Stopczynski
Secretary of the Supervisory Board & Member of the Supervisory Board2.75yrsno datano data
Jaroslaw Fuchs
Vice President of the Management Board - Private Banking & Investment Products Division0.083yrno datano data
Pawel Rzezniczak
Head of IR & Corporate Developmentno datano datano data

1.2yrs

Average Tenure

Experienced Management: BPKD's management team is not considered experienced ( 1.2 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Pawel Stopczynski
Secretary of the Supervisory Board & Member of the Supervisory Board2.75yrsno datano data
Pawel Surówka
Chairman of the Supervisory Board2.75yrsno datano data
Stanislaw Kaczoruk
Deputy Chairman of the Supervisory Board2.75yrszł183.00kno data
Grzegorz Janas
Member of the Supervisory Board2.75yrsno datano data
Michal Kaszynski
Independent Member of the Supervisory Board2.75yrszł167.00kno data
Justyna Glebikowska-Michalak
Independent Member of the Supervisory Board2.75yrszł183.00kno data
Joanna Dynysiuk
Deputy Chairman of the Supervisory Boardno datazł183.00kno data
Sabina Bigos-Jaworowska
Independent Member of the Supervisory Board2.75yrszł167.00kno data
Marian Majcher
Independent Member of the Supervisory Board2.75yrszł167.00kno data

2.8yrs

Average Tenure

Experienced Board: BPKD's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Bank Polska Kasa Opieki S.A.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Bank Polska Kasa Opieki S.A.
  • Ticker: BPKD
  • Exchange: LSE
  • Founded: 1929
  • Industry: Diversified Banks
  • Sector: Banks
  • Market Cap: zł14.520b
  • Listing Market Cap: zł3.551b
  • Shares outstanding: 262.47m
  • Website: https://www.pekao.com.pl

Number of Employees


Location

  • Bank Polska Kasa Opieki S.A.
  • 53/57 Grzybowska Street
  • Warsaw
  • 00-950
  • Poland

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PEOWSE (Warsaw Stock Exchange)YesOrdinary Bearer SharesPLPLNJul 1998
0DP0LSE (London Stock Exchange)YesOrdinary Bearer SharesGBPLNJul 1998
BKPK.FOTCPK (Pink Sheets LLC)YesOrdinary Bearer SharesUSUSDJul 1998
PEOWBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary Bearer SharesGBPLNJul 1998
BP1BRSE (Berne Stock Exchange)YesOrdinary Bearer SharesCHCHFJul 1998
BPKDLSE (London Stock Exchange)SPON GDR EACH REPR 1 PLN1 REG SGBUSDNov 2000
BPKDLBATS-CHIXE (BATS 'Chi-X Europe')SPON GDR EACH REPR 1 PLN1 REG SGBPLNNov 2000

Biography

Bank Polska Kasa Opieki S.A., a commercial bank, provides a range of banking services to individual, retail, corporate, and institutional clients primarily in Poland. It offers personal banking services, including personal and savings accounts; personal advisory and investment navigation; capital management services that include pioneer funds, term deposits, investment programs, brokerage, and structured products; cash loans, mortgage loans, and investment financing services; and credit cards, electronic banking, and brokerage services. The company also provides corporate banking products and services, such as current, escrow, term deposit, and negotiable accounts, as well as treasury bills and bonds; business operations and commercial real estate financing services; and electronic banking, cash management, and trade finance services. In addition, it offers treasury products, such as foreign exchange, hedging against foreign exchange risk, and interest rate hedging. Further, the company provides insurance products and services; private banking and assets management services; corporate finance services in the areas of mergers and acquisitions, and public and private offering, as well as securities trading on secondary market; and pension fund management, transferable agent, call-center, and real estate development services. Bank Polska Kasa Opieki S.A. was incorporated in 1929 and is headquartered in Warsaw, Poland. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/29 20:50
End of Day Share Price2020/03/27 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.