Context in the banking sector
Decreases of the WIG BANKS index are mostly caused by a deterioration in global sentiment to equity markets. Furthermore, from the perspective of the banking sector, additional risks emerged in relation to regulatory costs, i.e., loan repayment holidays, the Borrower Support Fund, costs of restructuring Getin Bank or write-offs for CHF loans. The prospect of an economic slowdown and increasing costs impacted the perceived appeal of this sector and the expected return rate, which still in 2021 was one of the strongest growing industry sectors, increasing by 81.3% y/y.
Pekao Bank and Alior Bank
At the end of 2022, the Alior Bank share price was PLN 34.3, i.e., it dropped by 37.3% since the beginning of the year. In that same period, the Pekao Bank share price dropped by 29.1% (in terms of price) to PLN 86.5 per share.
On 15 June 2022, the General Meeting of Shareholders of Bank Pekao resolved to pay out the 2021 dividend of PLN 4.3 per share (PLN 1,128 million, which constituted 50% of the 2021 net result). In 2021, it amounted to PLN 3.21 per share (PLN 843 million, which constituted 75% of the 2020 net result).
Source: www.infostrefa.com