VUB's Market Share and Financial Services

FINANCIAL FIGURES PROFITABILITY EUR mln Revenues +8.69% Operating Costs Net Interest +0.96% +10.01% 467 508 226 228 388 192 319 351 263 268 128 175 146 70 88 4Q17 1Q18 2Q18 3Q18 4Q18 4Q17 1Q18 2Q18 3Q18 4Q18 Profit After Tax and Dividend Payout 27% profit after tax 90% 80% dividend payout 4Q17 1Q18 2Q18 3Q18 4Q18 The Revenues of the bank have increased year over year. The result is also impacted by the merger with CFH The bank showed slight rise of operating costs (1%) due to the pressure on salaries partially compensated by structural interventions in other operating costs NII was primarily impacted by the low interest rates also coming from increasing competition on the Mortgage and Consumer loans market partially compensated by the increasing volumes 265 160 144 156 125 72 2016 2017 ROE (on yearly basis) -0.76% 2018 Cost Income Ratio (excl. Bank Levy) ROA (on yearly basis) -0.18% -3.02% 19.07% 14.56% 16.29% 15.20% 13.79% 47.93% 48.02% 42.95% 44.48% 44.91% 1.96% 1.40% 1.59% 1.41% 1.23% 4Q17 1Q18 2Q18 3Q18 4Q18 4Q17 1Q18 2Q18 3Q18 4Q18 4Q17 1Q18 2Q18 3Q18 4Q18 Source: Individual financial statements as of 31 December 2018 ROE down 0.76% due to decrease of the profit ROA shows negative development YoY with lower net income and increasing total assets C/I ratio decreased by 3.02% confirming the banks operational excellence maintaining its costs well under control 30

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