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Results of BRE Bank Group Q1-3 2010

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					Results of BRE Bank Group
 Q1-3 2010
Record high recurrent income




Management Board of BRE Bank S.A.

Presentation for Investors and Analysts
04 November 2010
Agenda




         Summary of Q3/10

         Analysis of Q3/10 Results

         Beyond Q3/10

         Appendix
             Detailed Results of Business Lines
             Business Environment
             Additional Information: Selected Financial Data




                                                               2
Highlights of Q3/2010 in BRE Bank Group



           Record high recurrent income
       1   in Q3 at PLN 795 M, up 6% QoQ


       2   Significant decrease of cost of risk
           to 93 bps in Q3 & 127 bps YtD

           Further efficiency improvement:
       3   C/I ratio down to 51% YtD


           Continued growth of customer base:
       4   80.4 K of new clients in Q3




                                                  3
Summary of Q3/2010 in BRE Bank Group
Key Financials




       Profit before tax Q1-3/10       PLN 608.7 M

       Profit before tax Q3/10         PLN 279.9 M

       ROE before tax Q1-3/10               15.3%

       Cost/Income (C/I) Q1-3/10            51.0%

       Capital adequacy ratio 09/10        15.89%

       Core Tier 1 ratio 09/10             10.62%




                                                     4
Summary of Q3/2010 in BRE Bank Group
Profitability of the Business Lines


 Quarterly Result before Tax by Business Line
 (PLN M)


                    Corporates & Financial Markets1)                                                                          Retail Banking
    Corporates and Institutions                           Trading and Investment Activity


              +255.3%                                                     +3.6%                                                        +85.3%




                                                                                                                                                 151.0
                           75.1
                                                                   59.9             62.1
                                                                                                                                81.5
          21.1


         Q2/10             Q3/10                                  Q2/10             Q3/10                                      Q2/10             Q3/10




     Corporates and Institutions: strong pre-tax profit increase driven by income growth and lower cost of risk

     Trading and Investment result better mainly thanks to higher net interest income

     Retail Banking with record high pre-tax profit as a result of strong income increase and lower level of LLPs


1)In order to better reflect organizational responsibilities, since Q3 2010 certain activities presented in the segment Corporates and Financial Markets were reassigned
among its two sub-segments. The reassignment comprises a shift of the following activities from Corporates and Institutions to Trading and Investments: (a) Financial
Institutions, (b) Subsidiaries: DI BRE Bank SA, BRE Bank Hipoteczny SA and BRE Corporate Finance SA. Q2 results were adjusted accordingly.

                                                                                                                                                                           5
Summary of Q3/2010 in BRE Bank Group
Development of Loans to Clients

     Development of Gross Loans                                                     Structure of Gross Loans Portfolio
     (PLN B)                                                                        as at 30 September 2010
                                           +1.0%1)
                                   -1.6%                                                                                                BRE - others
                                                                                                      BRE - Individual                  0,9%
                                                                                                      clients
                          -1.0         0.0                                                                                              BRE - Public
                                                    +0.1                                              55,7%
                                                                                                                                        sector
                                                                                                                                        1,6%
                          -3.1%       +0.0%        +6.6%
                           QoQ         QoQ          QoQ                             BRE Bank
                                                                                                                                         BBH
          57.9                                                    57.0                 83.1%
                                                                                                                                         6,7%

                                                                                                                                        Factoring
                                                                                                                                        companies
                                                                                                       BRE - Corporate                  3,7%
                                                                                                       clients
          06/10.      Individual     Corporate    Other (incl.    09/10.                               25,0%                            BRE Leasing
                        clients       clients    Public sector)
1) excluding FX effects                                                                                                                 6,5%




 Loans affected by                                                         Total gross loans down by 1.6% QoQ (market: +0.4%);
                                                                           excluding FX effects: up by 1.0% QoQ (market +1.8%)
 PLN appreciation –                                                        Corporate loans stable QoQ (market: -0.8%) due to still sluggish client
                                                                           demand;
 up by 1% excluding                                                        excluding FX effects: up by 2.3% QoQ (market +0.2%)

 FX effects                                                                Retail loans down by 3.1% QoQ (market: +0.9%) as a result of PLN
                                                                           appreciation;
                                                                           excluding FX effects: +0.2% QoQ (market: +2.6%)




                                                                                                                                                       6
Summary of Q3/2010 in BRE Bank Group
Development of Deposit Base

  Development of Deposits                                                  Structure of Amounts Due to Clients
  (PLN B)                                                                  as at 30 June 2010
                             +0.1%                                                                                           BBH
                                                                                              BRE -
                                                                                              Individual                     0.4%
                                                                                              clients
                                                                                                                             Factoring
                 -1.5         +1.8          -0.3                                              54.5%
                                                                                                                             companies

                -5.6%         +10.4%      -43.0%
                                                                            BRE Bank                                         0.6%
                 QoQ           QoQ         QoQ                                 97.3%
       44.5                                              44.5                                                               DI BRE
                                                                                                                            1.7%
                                                                                               BRE -
                                                                                               Corporate                    BRE - Public
                                                                                               clients                      sector
                                                                                               41.8%                        1.0%
       06/10.   Individual   Corporate   Public sector   09/10.
                  clients     clients




Stable deposit base in Q3                                         Total deposits stable at +0.1% QoQ (market up by 0.6% QoQ)
                                                                  Strong increase of corporate deposits

Sound liquidity situation                                         Decrease of individual clients’ deposits
                                                                  due to reduction of interest rates offered to customers
with ‘real’ loan to deposit                                       Increase of corporate market share to 8.7% (from 8.3% in Q2);
                                                                  decrease of retail market share to 5.0% (from 5.2% in Q2)
ratio of 78%
                                                                  Continued proactive management of liquidity portfolio




                                                                                                                                           7
Summary of Q3/2010 in BRE Bank Group
Business Development: Corporates & Institutions


  Revenue                         Net Interest Income            Net Commission Income         Revenue up by 9.1% QoQ
  (revenue before costs           (PLN M)                        (PLN M)                       and by 30.4% YoY
  excl. LLP, PLN M)


             +30.4%                          +29.8%                         +4.9%              Net interest income increased
                                                                                               by 1.9% QoQ and by 29.8% YoY
                 +9.1%                                +1.9%                         +1.2%
                                                                                               Net commission income up by 1.2%
                                                                                               QoQ mainly on Cash Management
              278.1       303.5                                                                products (up by 6.3% QoQ);
     232.8                                    148,3      151,2       76,2    79,2       80,2
                                     116,5


    Q3/09     Q2/10       Q3/10      Q3/09    Q2/10      Q3/10      Q3/09   Q2/10      Q3/10   Growth of corporate client base -
                                                                                               up by 100 companies in Q3/10;
                                                                                               highest corporate customer base ever

Strategy implementation on track:                                                              Further development of business
                                                                                               with Public Sector -
- continued client growth: +100 in Q3                                                          in 2010 BRE Bank took part in 239
- positive cross-sell effects on cash management                                               tenders and won 101 of them
- 26% increase in loan volume for public sector




                                                                                                                                      8
Summary of Q1-3/2010 in BRE Bank Group
Business Development: Retail Banking

                                                                                            Record high revenue;
  Revenue                         Net Interest Income           Net Commission Income
  (revenue before costs           (PLN M)                       (PLN M)                     increase of 15.3% QoQ
  excl. LLP, PLN M)                                                                         driven by higher net interest income
                                                                                            and fee income
             14.5%                           10.9%                        41.8%
                                                                                            Net interest income up by 15.7% QoQ
                      15.3%                          15.7%                        32.5%     mainly due to higher deposit margin

                                                                                            Increase of net fee and commission
     360.8    358.6
                          413.3                                                             income by 32.5% QoQ due to strong
                                             230.3      266.5
                                     240.3                                           88.5
                                                                   62.4   66.7              recurrent business and thanks
                                                                                            to lower level of interchange costs in
    Q3/09     Q2/10       Q3/10      Q3/09   Q2/10      Q3/10     Q3/09   Q2/10     Q3/10
                                                                                            card transactions

                                                                                            Growth in sales of non-mortgage
Strategy implementation on track:                                                           loans in Poland, especially
                                                                                            in cash loans +52%
                                                                                            and car loans +55% QoQ;
- 80.3 K new retail clients acquired                                                        total new NML business volume
- 8% QoQ increase of NML sales in Poland                                                    of PLN 583 M (+8% QoQ)
- cross-selling ratio up to 2.75
                                                                                            Sale of new mortgage loans
                                                                                            at the level of PLN 606 M in Q3

                                                                                            BRE retail deposits in Poland down
                                                                                            by 2.8% QoQ as a result of reduced
                                                                                            interest rates offered to clients
                                                                                                                                     9
Agenda




         Summary of Q3/10

         Analysis of Q3/10 Results

         Beyond Q3/10

         Appendix
             Detailed Results of Business Lines
             Business Environment
             Additional Information: Selected Financial Data




                                                               10
Analysis of Results, Q3/2010
Key Financials


             (PLN M)                             Q3/2010                         Q2/2010                 Change QoQ

     Total income1)                                825.1                             766.1                    +7.7%

     Total cost                                 (416.9)                          (391.6)                      +6.5%

     Operating profit2)                            408.2                             374.5                    +9.0%

     Net provisions                             (128.2)                          (203.5)                    -37.0%

     Profit before tax                             279.9                             1 7 1 .0               +63.7%

     Net profit3)                                  206.5                             124.3                  +66.2%

     Total assets                           84 421.8                           88 911.4                           -5.0%

     Equity                                    6 935.4                           6 674.7                      +3.9%
     1) Including net other operating income and cost; 2) Before provisions; 3) Profit after tax and minorities




                                                                                                                          11
Analysis of Results, Q3/2010
Income of BRE Bank Group
 BRE Bank Group Income QoQ & YoY                                                                                                                                                                             Structure of BRE Bank Group Income
 (PLN M)                                                                                                                                                                                                     by Business Line, Q3/10
                                                         +13.9%
                                                                                                +7.7%
                                                                                                                                                                                                                                              Trading and
                                                                                                                          +75.2%                                     +38.2%
                      +10.3%                    +15.5%                      +100%                  -27.8%                                                                                                                                     Investment
                                                                                                                           QoQ                                        QoQ
                       QoQ                       QoQ                         QoQ                    QoQ                                                                                                         Corporates                    Activity;
                                                                                                                                       29.6                                   21.8
                                                                                                                                                                                                                       and                    PLN 108 M;
                                                                                                                                                                                                              Institutions;                    13.0%
                                                                                                      88.2
                                                                                 5.2                                                                                                                           PLN 303 M;
                                                                                                                                                                                                                     36.8%
                                                     199.2

                                                                                                                                                                                                    825.1
   724.1    766.1                                                                                                                                                                                                Other and
                                                                                                                                                                                                              Eliminations;                       Retail
                                                                                                                                                                                                                   PLN 1M;                        Banking;
                       481.0                                                                                                                                                                                           0.1%                       PLN 413 M;
                                                                                                                                                                                                                                                  50.1%
                                                                            Dividend




                                                                                                   Net Trading
                           Interest




                                                                                                                                                     Investment
                                                               Commission
    Q3/09




             Q2/10




                                                                                                                                                                                                     Q3/10
                                                                                                                                       Losses from


                                                                                                                                                                  Net Other
                                                                                                                                                                               Operating
                                      Income




                                                                                                                          Gains less
                                                                                       Income
                                               Net Fee




                                                                                                                                                                                           Result
                     Net




                                                                                                                 Income
                                                         and




                                                                                                                                                       Strong increase of net interest income QoQ mainly due to lower interest
Recurrent income                                                                                                                                       expenses (decrease of deposit rates); NIM stable at 2.1%;
                                                                                                                                                       NII to average RWA ratio up to 3.4% in Q3/10 (3.2% YtD)
generation at the
                                                                                                                                                       Net fee and commission income significantly higher thanks to higher
highest level ever                                                                                                                                     payment card and brokerage fees as well as one-off positive contribution
                                                                                                                                                       (PLN 13 M) related to interchange settlements
                                                                                                                                                       Decrease of trading income QoQ due to lower FX market volatility and
                                                                                                                                                       negative revaluation of derivatives (PLN 4.7 M vs. positive PLN 8.2 M in Q2)
                                                                                                                                                       Gains less losses from investment securities driven by the sale of a part
                                                                                                                                                       of PZU shares (at PLN 30.5 M)


                                                                                                                                                                                                                                                               12
Analysis of Results, Q3/2010
Costs of BRE Bank Group

  Overhead Costs + Depreciation of BRE Bank Group QoQ & YoY                                  Cost Structure by Business Line
  (PLN M)                                                                                    in Q3/10
                                +14.5%
                                                                                                                               Retail
                                           +6.5%                                                                               Banking;
                                                                                             Trading and                       PLN 194 M;
                       +13.2%      +1.8%        -1.1%        +4.5%                            Investment                       46.4%
                        QoQ         QoQ          QoQ          QoQ                                Activity;
                                                             15.7
                                                                                               PLN 46 M;
                                                 58.7
                                                                                                   11.1%


                                    148.2
               391.6                                                   416.9                                                   Other and
       364.1
                                                                                                                               Eliminations;
                                                                                              Corporates
                        194.3                                                                                                  PLN 9 M;
                                                                                                      and
                                                                                                                               2.3%
                                                                                             Institutions;
                                                                                              PLN 168 M;
       Q3/09   Q2/10   Personnel   Material   Depreciation   Other     Q3/10                        40.2%
                         costs      costs




                                                                     Increase of overhead costs and depreciation by 6.5% QoQ
Further improvement                                                  related to business development

of C/I ratio:                                                        Overhead costs up by 7.8% QoQ:

                                                                       - Personnel costs up by 13.2% driven mainly by variable components, i.e.
- 50.5% in Q3                                                            sales-driven quarterly bonuses in Retail Banking and accruals for yearly
                                                                         bonuses
- 51.0% YtD                                                            - Material costs up by 1.8% as a result of increased business volumes
                                                                     Depreciation at a stable level both QoQ and YoY



                                                                                                                                                    13
Analysis of Results, Q3/2010
Structure of Loan Loss Provisions


 BRE Bank Group’s                                                                                                   Decisive factors for Q3/10 LLP:
 Impairment Losses on Loans and Advances
 (PLN M)                                                                                                              - Improvement of the overall
                                                                                                                       financial situation of clients,
                                                           -37.0%                                                      especially corporate

                                     -57.1%                      +71.8%              -28.1%
                                                                                                                      - Significantly lower provisioning
   248.7                              QoQ                         QoQ                 QoQ                              related to old cash loans to non-
                                                                                                                       clients
              203.5
126.0
            95.6                                                                                     128.2            - Moderate default rate of the
                                                                                                                       mortgage portfolio; Total mortgage
                                                                                  68.7              68.7               NPL ratio at 0.82% (FX: 0.52%)
122.7       107.9                                               17.6
                                     41.9                                                           59.5
                                                                                                                      - PLN 8.8 M provisions created in
                                                                                                                       one subsidiary as a result of
                      Corporates &
 Q3/09




             Q2/10




                                                                                                      Q3/10
                                                                                         Banking
                                                                 Subsidiaries




                                                                                Retail
                                     Financial
                                                 Markets




                                                                                                                       portfolio review

                                                                                                                    Default ratio of BRE Bank’s risk
                                                           Corporates & Financial Markets          Retail Banking   portfolio
                                                                                                                    5.6% as at 09/10 vs. 5.1% as at 06/10

                                                                                                                    BRE Bank’s NPL ratio (old NBP rules)
LLP 37% down QoQ                                                                                                    at 7.4% in 09/10
thanks to improvement of the                                                                                        Coverage ratio at the level
overall macroeconomic situation                                                                                     of 57% in Q3/10



                                                                                                                                                            14
Agenda




         Summary of Q3/10

         Analysis of Q3/10 Results

         Beyond Q3/10

         Appendix
             Detailed Results of Business Lines
             Business Environment
             Additional Information: Selected Financial Data




                                                               15
Beyond Q3/2010 in BRE Bank Group



          Consistent implementation of new strategy
      1   focusing on profitable growth


      2   Higher costs due to seasonal Q4 effects


          Continued prudent provisioning;
      3   cost of risk at a normalized level


          Further deployment of liquidity and capital resources
      4   in line with growing credit demand




                                                                  16
Agenda




         Summary of Q3/10

         Analysis of Q3/10 results

         Beyond Q3/10

         Appendix
             Detailed Results of Business Lines
             Business Environment
             Additional Information: Selected Financial Data




                                                               17
Appendix

                                                                             Additional Information:
                                                                                                                               Page No.
 Detailed Results of the Business Lines                           Page No.   Selected Financial Data & Business Environment

 BRE Bank Retail Banking                                          19-30      P&L acc. to IFRS                                    48

 Summary of Q3/10                                                 20         Results of Subsidiaries                             49

 Customer Acquisition & Volume Trends                             21-22      Interest Income                                     50

 Acquisition of Microenterprises                                  23         Commission Income                                   51

 Retail Deposits and Loans: Market Share                          24         Trading Income                                      52

 Mortgage Loans: Portfolio Structure & Quality                    25         Overhead Costs Structure                            53

 Distribution Network                                             26         Loans and Deposits                                  54

 mBank – eBroker, MultiBank – Brokerage Service                   27         LtD Ratio                                           55

 BRE Ubezpieczenia (BRE Insurance)                                28         Balance Sheet Analysis                              56

 Internet Platform – SUS and Insurance Centre                     29         Balance Sheet Analysis - Assets                     57

 Growth of Sales                                                  30         Balance Sheet Analysis - Liabilities                58

 Corporates & Financial Markets                                   31-43      Maturity of Long- and Midterm FX Loans              59

 Summary of Q3/10                                                 32         CAR                                                 60

 Corporates & Institutions: Clients, Loans and Deposits           33         Capital Adequacy Ratio under NCA                    61

 Loans and Deposits: Market Share                                 34         Loan Loss Provisions & Quality of the Portfolio    62-63

 Development of Loans and Deposits                                35         Structure of BRE Bank’s Risk Portfolio              64

 Development of Client Base                                       36         NPLs by PAS: Portfolio Structure                    65

 Cash Management                                                  37

 Products with EU Financing and Pillar of Financial Instruments   38

 Leasing and Factoring                                            39

 BRE Bank Hipoteczny (Mortgage bank)                              40

 Dom Inwestycyjny BRE Banku (BRE Securities)                      41

 Proprietary Investments Portfolio                                42

 Trading and Investment Activity: Market Share                    43

 Business Environment                                             44-46




                                                                                                                                          18
Appendix




    Detailed Results
    of the Business Lines Q3/10

                                  Retail Banking




                                                   19
Appendix
BRE Bank Retail Banking
Summary of Q3/10: Financial Results

Profit before Tax of the Segment
(by quarter, PLN M)                                                                                                                                              -12.2



                                                                                                                                               -15.5
                                                                                         -19.3
                                                                                -21.5
                                                                                                           -24.5                                        -14.5
                                                                                                                             -21.7
                                                                       -16.0                                        -28.4                                        151

                                                                                                                                               108.8                             Retail Banking - total
                    0                                         -27.1             86.7 95.3                                                               81.5
                                    69               70.9              68.2                                 74               72.7
                           49               57.5                                                                    61.5              -37.6                                       mBank Cz & SK
                  43
                                                              29.8
  11      11                                                                                                                            8
                                                                                                  -8.7
                                                                                                  -23.7
  Q1/06

          Q2/06

                   Q3/06

                            Q4/06

                                    Q1/07

                                             Q2/07

                                                      Q3/07

                                                               Q4/07

                                                                        Q1/08

                                                                                 Q2/08

                                                                                          Q3/08

                                                                                                   Q4/08

                                                                                                            Q1/09

                                                                                                                     Q2/09

                                                                                                                              Q3/09

                                                                                                                                       Q4/09

                                                                                                                                                Q1/10

                                                                                                                                                         Q2/10

                                                                                                                                                                  Q3/10
Contributors to the Profit before Tax of Retail Banking in Q3/10                                                                                                          Structure of the Profit before Tax of Retail Banking in Q3/10
(PLN M)                                                                                                                                                                   (PLN M)
                                                                                                                                                                                                       40.9        0.0          68.7
                  105.2
                                                                                                                                                                                            88.5

      117.4                                                                                                                                                                                                                                 193.6


                                                                                                                                                                           266.5                                                                             17.4

                                                         44.3                                                                                                                                                                                                           151.0

                                                                                                               4.0




                                                                                                                                                                                                                 losses from
                                                                                                                                                                                          commission
                                                                                                                                                                           Net interest




                                                                                                                                                                                                                 investment




                                                                                                                                                                                                                                                           income and
                                                                                                                                                                                                                               provisions
                                                                                                                                                                                                       Trading
                                                                                                                                                                                                       income




                                                                                                                                                                                                                                            depreciation




                                                                                                                                                                                                                                                                        Profit before
                                                                                                                                                                                                                  Gains less




                                                                                                                                                                                                                                                            Net other
                                                                                                                                                                                                                                                            operating
                                                                                                                                                                                                                                             Costs and
                                                                                                                                                                            income**




                                                                                                                                                                                            income




                                                                                                                                                                                                                                  Net
                                                                                                                                                                                              Net
                                                                                   -2.5




                                                                                                                                                                                                                                                                             tax
                              -12.2

 mBank/PL                  mBank/CZ                  MultiBank                  Private                    Other*
                            and SK                                              Banking
                                                                                                                                                                           * incl. BRE Ubezpieczenia, BRE Wealth Mgt., Aspiro and consolidation adjustments
                                                                                                                                                                           * * incl. internal settlements

                                                                                                                                                                                                                                                                                        20
Appendix
BRE Bank Retail Banking (Poland)
Customer Acquisition and Volume Trends

            Data as at 30.09.2010            End of 06/10                      Change         End of 09/10

  (M)
  5

  4
                                               3.04 M       clients           +2.3%              3.11 M
  3

  2

  1
                                               4.2 M        accounts          +4.8%              4.4 M
  0

           Customers       Accounts


                                               21.6 B       deposits (PLN)    -2.8%              21.0 B
 (PLN B)                   Private Banking
                           MultiBank
                           mBank (Poland)
  30

  25                                           31.1 B       loans (PLN)       -1.9%              30.5 B
  20

  15

                                                            thereof:
  10
                                               24.5 B       mortgage (PLN)    -3.3%              23.7 B
   5

   0

            Deposits         Loans




                                                                             Above data are for mBank/PL, MultiBank and PB


                                                                                                                             21
 Appendix
 BRE Bank Retail Banking (CZ/SK)
 Customer Acquisition and Volume Trends


              Data as at 30.09.2010        End of 06/10                             Change         End of 09/10

   (thou.)
1 000

 800

 600
                                          447.0   thou.   customers                 +3.8%                463.9 thou.
 400

 200

   0

            Customers          Accounts   879.4   thou.   accounts                  +2.5%                901.8 thou.
 (EUR M)


1 200
                                          1.02 B          deposits (EUR)             -2.9%               0.99 B
1 000


  800


  600


  400
                                          310.8 M         loans (EUR)              +12.6%                350.1 M
  200


        0

              Loans          Deposits

            Czech R.    Slovakia



                                                                        Above data are for mBank/Czech Republic and mBank/Slovakia


                                                                                                                                     22
Appendix
BRE Bank Retail Banking
Acquisition of Microenterprises*



383 thousand microenterprises
serviced by BRE Bank Retail Banking

                                                                                                                      Number of Microenterprises
                                                                                                                       at BRE Bank Retail Banking
                                                                                                                                           (thou.)

                                                             102.6 142.7 185.6 235.6 312.0 328.3 339.2 343.8 356.0 367.1 376.0 382.9


                                                                                                                                                 96.3     96.8
                                                                                                                               90.8     94.0
                                                                                                    78.0     82.0     86.4
                                                                                             73.9
   Number of serviced microenterprises
                                                                                     62.3
   up by 6.9 thousand in Q3/10
                                                                             50.8
                                                                                                                     265.2 273.1 279.7 286.1
                                                                     39.0                    238.1 250.3 257.2 257.4
   PLN 2 940.6 M of loans granted                            27.9                    173.3
   to microenterprises                                               103.7
                                                                             134.8
                                                             74.7
   at the end of 09/10
                                                              2004   2005    2006    2007    2008   03/09.   06/09.   09/09.   12/09.   03/10.   06/10.   09/10.




                                                                                                                                   MultiBank              mBank
*Microenterprises imply self-employed individual customers




                                                                                                                                                                   23
Appendix
BRE Bank Retail Banking
Deposits & Loans: Market Share


Household Deposits*                                                                                                                             Household Loans*
                                                                                                                         09/10:                                                                                                                                         09/10:
(PLN B)                                                                                                                                         (PLN B)
                                                                                                                      5.0%                                                                                                                                        6.5%
35                                                                                                                                    7%
                                                                                                                                           35                                                                           7.0%
                                                                                                                                                                                                                6.7%            6.7%                   6.6%
                                                                                                                                                                                                                                        6.5% 6.4%                                 7%
30                                                                                                                                    6%                                                                                                          6.3%
                                                             5.2% 5.1%                                        5.3% 5.2%                    30                                                           5.9%
                                             4.9% 5.0%                                                5.0%
                                                                                              4.7%                                                                                      5.4% 5.5%                                                                                 6%
                                     4.6%
25                           4.4%                                             4.4% 4.4%                                               5%                          5.1% 5.2%
                                                                                                                                           25           4.9% 5.0%
             4.1% 4.1%                                                                                                                          4.6%
     3.8%                                                                                                                                                                                                                                                                         5%
20                                                                                                                                    4%
                                                                                                                                           20
                                                                                                                                                                                                                                                                                  4%
15                                                                                                                                    3%
                                                                                                                                           15
                                                                                                                                                                                                                                                                                  3%

10                                                                                                                                    2%
                                                                                                                                           10                                                                                                                                     2%

5                                                                                                                                     1%
                                                                                                                                           5                                                                                                                                      1%

0                                                                                                                                     0%
                                                                                                                                           0                                                                                                                                      0%
     12/06

             03/07

                     06/07

                             09/07

                                     12/07

                                             03/08

                                                     06/08

                                                              09/08

                                                                      12/08

                                                                              03/09

                                                                                      06/09

                                                                                              09/09

                                                                                                      12/09

                                                                                                              03/10

                                                                                                                      06/10

                                                                                                                              09/10




                                                                                                                                                12/06

                                                                                                                                                        03/07

                                                                                                                                                                06/07

                                                                                                                                                                        09/07

                                                                                                                                                                                12/07

                                                                                                                                                                                        03/08

                                                                                                                                                                                                06/08

                                                                                                                                                                                                        09/08

                                                                                                                                                                                                                12/08

                                                                                                                                                                                                                        03/09

                                                                                                                                                                                                                                06/09

                                                                                                                                                                                                                                        09/09

                                                                                                                                                                                                                                                12/09

                                                                                                                                                                                                                                                        03/10

                                                                                                                                                                                                                                                                06/10

                                                                                                                                                                                                                                                                          09/10
     BRE Bank (LHS)                                          Market share (RHS)

*Residents only. Household deposits and loan volumes do not include micro and small enterprises (classified as Retail customers in BRE Bank)
Since 03/10 NBP changed data presentation, market shares recalculated in accordance with NBP methodology


                                                                                                                                                                                                                                                                                       24
Appendix
BRE Bank Retail Banking
Mortgage Loans: Portfolio Structure and Quality

BRE Bank’s Mortgage Loan Portfolio                                        Currency Structure of the Retail Banking Mortgage
(Retail Banking* loans to individuals)                                    Loan Portfolio (Household Loans) at 30.09.2010

                                       Total         PLN        FX               10%


  Balance-sheet value
                                            23.69     2.26      21.43
  (PLN B)

  Average maturity
                                            22.90    19.98      23.31
  (years)
                                                                                                     FX    PLN
  Average value per loan
                                           267.02   206.08    275.62                         90%
  (PLN thou.)

  Average LTV                                                             Structure of the Retail Banking Loan Portfolio
                                            81.44    56.03      85.18
  (%)                                                                     (Household Loans) at 30.09.2010

  NPL
                                             0.82     3.63       0.52        By loan type                                 By currency
  (%)
                                                                                       4%   5%
                                                       As at 30.09.2010          6%
                                                                            3%                       Mortgage
                                                                                                     Loans          25%

                                                                                                     Credit Cards


                                                                                                     Credit Lines


                                                                                                     Cash loans                          FX

                                                                                                                                         PLN
                                                                                                     Other**
                                                                                            82%                                    75%
 * mBank-PL and MultiBank

** ‘Other’ include mainly car loans,
    loans for goods, services and stocks

                                                                                                                                               25
Appendix
BRE Bank Retail Banking
Distribution Network

Aspiro Distribution Network                                                      MultiBank Branches
(in Poland)                                                                      (in Poland)
Total (at the end of period):                                                     Total (at the end of period):


   7        24     54       67    103    161    142      134    130     122             35      46     72         84   109    131     134     134     133     133



                                                                                                                              52      58       59     61      61
                                         77
                                                54       46                                                            44
                                                                 42      33
                                  27
                                                                                                              38
                                                                                                       34
                                                65       65      65      65             4
                                  61     68                                                     13                            79      76       75     72       72
                           42                                                                                          65
           22     40                                                                                          46
                                                                                        31      33     38
   7                                            23       23      23      24
                  14       15     15     16
           2
  2003    2004   2005      2006   2007   2008   2009   Q1 2010 Q2 2010 Q3 2010         2003    2004   2005    2006     2007   2008    2009   Q1 2010 Q2 2010 Q3 2010


       Financial Centres          mKiosks         Partner mKiosks                             Financial Services Centres             Partnership Outlets


    Aspiro is a financial intermediary company                                         MultiBank had a network
                                                                                       of 133 branches at the end of Q3/10
    Aspiro enters into distribution agreements with the Bank
    and other banks operating in the Polish market in order
    to sell retail banking products via its distribution network.
    Significant part of the products sold by Aspiro are sourced
    from BRE Bank
    Since July 2009, Aspiro operates a distribution network
    comprising 122 locations across Poland
    as well as 33 Agent Service Points (at 30 September 2010)


                                                                                                                                                                       26
Appendix
BRE Bank Retail Banking
mBank – eBroker, MultiBank – Brokerage Service

                                            Investment Accounts
                                                                                                                                                                                                             174 178
                                            (thou.)
                                                                                                                                                                                                    151

Dynamic growth                                                                                                                                                       123
                                                                                                                                                                              131
                                                                                                                                                                                     137
                                                                                                                                                                                             145


                                                                                                                                                              115

of brokerage services for                                                                                                83
                                                                                                                                90          96
                                                                                                                                                   104



Retail Banking                                                                              46
                                                                                                     62
                                                                                                               74




customers                                     14        17
                                                                24
                                                                         28
                                                                                  34

                                                                                                           9        11         12     14          15     16     17      18      19      19     20      21
                                                                                                                                                                                                               29      29

                                                                              3         4        7
                                                                     2

                                                  Jan   March    Jun     Sept       Dec     March      Jun     Sept       Dec       March    Jun       Sept    Dec    March    Jun     Sep    Dec    March    June    Sep
                                              2006                                          2007                                    2008                              2009                           2010
  eMakler trading reached PLN 730.5 M
                                                                                                                                                                               mBank           MultiBank
  and Brokerage Service trading
  PLN 158.2 M in September 2010

  The total number of investment accounts
  in mBank and MultiBank was                eBroker and Brokerage Service Trading by
  207 thousand at the end of Q3/10          Month                                                                                                                                                                    731
                                                                                                                                                                                     708
                                            (PLN M)
                                                                                                                                                                                                    618
  In Q3/10 mBank and MultiBank customers                                                556 561                                                                            551                              567

  opened 3.0 thousand                                                                                                                                                490

  investment accounts                                                                                      382
                                                                                                                                                                                             344
                                                                              327                                   332
                                                                     266                                                                                  275
  Trading reached                           232
                                                   196 202
                                                                                                                               229                225
                                                                                            151 134                                    151                                            167            162              158
  PLN 24 B in eMakler                                                                                          89         89
                                                                                                                                                                      124       135
                                                                                                                                                                                               91
                                                                                                                                                                                                              130
                                                                                   71                                                64                        81
  and PLN 5.5 B in Brokerage Service                            21
                                                                         47                                                                  40        51

  since launch of these services
                                             Jan             Jun                  Dec                Jun                 Dec                Jun               Dec             Jun             Dec            June
                                            2006




                                                                                                                                                                                                                            27
Appendix
BRE Bank Retail Banking
BRE Ubezpieczenia (BRE Insurance)
Bancassurance Retail                     Direct Insurance (Internet platform)                 Co-operation with BRE Leasing
Gross Written Premium (PLN M)            Gross Written Premium (PLN M)                        Gross Written Premium (PLN M)


              +63%                                      +35%                                                 -2%




 PLN 17.9 M of profit before tax of BRE Ubezpieczenia                   Sales structure
 achieved in Q3/10 due to:                                              (PLN M)
                                                                                                        Q3/09       Q3/10     Change
 - increase of lending activity in BRE Bank linked with                 Bancassurance
 cross-selling results of insurance products
                                                                          Multibank+mBank                 87.90     142.05      62%
 - good claim performance of bancassurance products
                                                                          Investment products            172.19     282.00      64%
 - high revenues from investments
                                                                        Direct Insurance
                                                                        (Internet platform)

                                                                          MultiBank + mBank               47.34      64.00      35%




                                                                                                                                       28
                                                                                                                                       28
Appendix
BRE Bank Retail Banking
Internet Platform – SUS and Insurance Centre

                                                       ‘It’s hard to top the Car Insurance Supermarket’
                                                       Newsweek

                                                       ‘mBank’s offer is the most attractive’
                                                       Pentor Research International




                                                          The Car Insurance Supermarket (mBank)
              184.9 thou.                                 was launched on 13 February 2007
        car insurance contracts                           and the Insurance Centre (MultiBank) on 30 September 2007
                     (in Q3/10)
                                                          Comparison and choice of 7 offers of liability
                                                          and accident insurance, each offer in 3 variants

               31.1 thou.                                 Purchase and service integrated
                                                          with the eKONTO and MultiKonto account
      travel insurance contracts
                     (in Q3/10)                           24/7 access to insurance policy information
                                                          Electronic applications and policies – minimum paper
                                                          Liability insurance policy available in 6 languages
                PLN 64 M                                  (Polish, English, German, French, Italian, Spanish)
          of premiums written
 (total value of all insurances sold during quarter)      Low monthly payments charged by mBank and MultiBank
                                                          Sale of car insurance by Call Center, internet, MultiBank branches
                                                          and mKiosks (mBanks’ small point of sales operated by Aspiro)


                                                                                                                               29
       Appendix
       BRE Bank Retail Banking (Poland)
       Net Sales by Quarters

          mBank/PL
         Clients                                                                                               Deposits                                                                                         Loans
         (thou.)                                                                                               (PLN M)                                                                                          (PLN M)
                                                                          +9.4%                                                                                            +8.9%                                                                                                         +11.9%

                                                                                                                                                                               203    -137
                                                                                       75                                                                          1 061                                                                                                                            -228
                                                                              66                                                                                                                                                       240                                                 1675
                                                                     75                                                                        1 224                                                                         1304                220           11
                                                84                                                                                       461                                                                                                                                       -44
                              35       64
                     84                                                                                                 -443 571

                                                                                                                                                                                               13 836                                                                                                        13 161
                                                                                                  2 511                                                  12 709                                                                                                     11 758
                                                       2 296                                                  10 896                                                                                                10
                                                                                                                                                                                                               10 903 903
         2 035




                                                                                                                                                                                                                8




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                                                                                                                                                                                                                                                                               Q1


                                                                                                                                                                                                                                                                                        Q2


                                                                                                                                                                                                                                                                                                 Q3
                                                                                                            .1




                                                                                                                                                       .1




                                                                                                                                                                                             .0




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             Q1


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31




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                                                                                           30




         MultiBank
         Clients                                                                                               Deposits                                                                                         Loans
         (thou.)                                                                                               (PLN M)                                                                                          (PLN M)                                                                  +11.4%
                                                                          +3.9%                                                                                                -1.6%
                                                                                                                                                                                                                                                                                                     -324
                                                                                                                                                                                                                                                                                            2138
                                                                                       -11                                                                                                                                                 360
                                                                           15                                                                                                                                                 1618                   331        2
                                                                     18                                                                                                                    -342                                                                                    -107
                                            20                                                                                                                           430
                                   19                                                                                                            768                           -171
                          19
                     19                                                                                                  610             480
                                                                                                                                 178                                                                                                                                                                             16 730
                                                         570     570
                                                                                                    592                                                                                                                                                                 15 023
                                                                                                                                                            5 249 5 249                           5 166            14 094
                                                                                                                4 434
         493                                                                                                            3 824
    08




                                                       09




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                09



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             Q



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                                                                                                                                                                                                                                                       Q4




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                                                                                                                                                                                                                                                                                         Q2


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                                                                                                                     Q



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                                                                                                                                                                                            30




                                                                                                                                                                                                               .




                                                                                                                                                                                                                                                                    .




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                                                                                                                                                                                                                                                                                                          30
                                                                                                                                                                                                                                                                                Balance                   Change

                                                                                                                                                                                                                                                                                                                          30
Appendix




  Detailed Results
  of the Business Lines Q3/10

                                Corporates & Financial Markets




                                                                 31
  Appendix
  Corporates and Financial Markets
  Summary of Q3/10: Financial Results

      Result before Tax of the Segment                                                                                                                                                                *                        Q2/07: sale of shares of Mostostal Zabrze;
      (by quarter, PLN M)                                                                                                                                                                                                      Q1/08: Repayment of default loan
                                                                                                                                                                                                                               Q2/10 and Q3/10 – sale of part of PZU shares
                                     321.0                                                                                                                                                            **                       Incl. internal settlements
                                      14.8*
                                                                                                                                                                                                      ***                      ‘Others’ include mainly consolidation adjustments
                                     137.7
          175.9                      Vectra
                                                         167.6
137.6 14.0*        135.5 127.7                 117.2                                                                                                                                    137.2
                                                                                                                                                                                        30.5*
                                                                                                                                                       86.6         81.1
          161.9                      168.6                                                                                                                      49.4 17.0*
                                                                                     11.5 14.0                                   23.6
  Q1/07

           Q2/07

                     Q3/07

                             Q4/07

                                       Q1/08

                                                Q2/08

                                                                    Q3/08

                                                                                     Q4/08

                                                                                                        Q1/09

                                                                                                                         Q2/09

                                                                                                                                         Q3/09

                                                                                                                                                        Q4/09

                                                                                                                                                                 Q1/10

                                                                                                                                                                                Q2/10

                                                                                                                                                                                         Q3/10
                                                                                                                  -154.0
      Contributors to the Result before Tax of the Segment in Q3/10                                                                                                                                   Structure of the Result before Tax of the Segment in Q3/10
      (PLN M)                                                                                                                                                                                         (PLN M)

                                                                                                                                                                                                                                                                                31.4
                                                                                                                                                                                                                                                                  49.1
           Corporations
                                                                                                                                                                                                                                   101.1            5.2
                                                                                                                                                                                                                                                                                                -59.5
                                                                                                                                                                                                           217.9
                                                                                                                                                                52.1
29.0                                                                                                                                                                                                                                                                                                                                  6.2           137.2
                                                                                                      16.0                          21.4
                                                              8.4                                                                                                                        11.2
                                                                                                                                                                                                                                                                                                               -214.2
                    0.0
                                     -0.9




                                                                                                                                                                                                                                                                                                                                  in co m e a n d
                                                                                                                                                                                                                                                  D ivid e n d
                                                                                                                                                                                                                                 co m m issio n




                                                                                                                                                                                                                                                                 in co m e
                                                                                                                                                                                                                                                                 Tra din g




                                                                                                                                                                                                                                                                                                                                                    Pro fit/ lo ss
                                                                                                                                                                                                                                                                             in ve stm e n t




                                                                                                                                                                                                                                                                                                                                                    be fo re ta x
                                                                                                                                                                                                                                                                              In co m e o n




                                                                                                                                                                                                                                                                                                               de pre cia tio n
                                                                                                                                                                                                                                                                                               pro visio n s
                                                                                                                                                                                                                                                   in co m e
                                                                                                                                                                                                           N e t in te re st




                                                                                                                                                                                                                                                                                                                                   N e t o th e r
                                                                                                                                                                                                                                                                                                                                   o pe ra tin g
                                                                                                                                                                                                                                                                              se cu ritie s
                                                                                                                                 Financial
 K1




                    K2




                                      K3




                                                                                                                                                                                                              in co m e **
                                                                                                      Liquidity




                                                                                                                                                                                                                                                                                                                C o sts a n d
                                                                                                                                                                                                                                    in co m e
                                                                                                                                                                 Subsidiaries
                                                                                                                                             Markets




                                                                                                                                                                                          Others***
                                                                      Institutions
                                                        Financial




                                                                                             Risk &




                                                                                                                                                                                                                                                                                                   Net
                                                                                                                  Mgt.




                                                                                                                                                                                                                                      Net




                                                                                                                                                                                                                                                                                                                                                                     32
Appendix
Corporates and Institutions
Customer Acquisition and Volume Trends

                                  End of 06/10                                 Change   End of 09/10



                                                           corporate
                                  13 026                   clients
                                                                                 +100     13 126
       Enterprises
       acc. to NBP definition


     Corporate Loans
                                                           corporate
     (PLN B)
                                  23.2 B                   loans (PLN)
                                                                                +0.0%   23.2 B

                                                 thereof   loans for
          14.0           13.7
                                  14.0 B                   enterprises (PLN)
                                                                                -2,7%    13.7 B
        30.06.10       30.09.10



    Corporate Deposits
                                                           corporate
    (PLN B)
                                  17.6 B                   deposits (PLN)      +10.4%     19.5 B

                                                 thereof   deposits of
         14.4           14.9
                                  14.4 B                   enterprises (PLN)    +3.2%      14.9 B
       30.06.10       30.09.10




                                                                                                       33
Appendix
Corporates and Institutions
Loans and Deposits – Market Share*
BRE Bank’s Market Share in Corporate Loans and Deposits
01/06 – 09/10
                                                                                 Corporate* Deposit Volume
                                                                                 (BRE Bank only, PLN B)

                                                                                                                                    14.0 14.2 13.7                                                     14.6 14.6 14.4 14.9
                                                                    8.7%             12.9 12.7 13.3 12.5
                                                                                                                                                                     12.2
                                                                                                                                                                                 13.1 13.3




                                                                    6.2%




                                                                                       06/07.


                                                                                                   09/07.

                                                                                                              12/07.


                                                                                                                          03/08.


                                                                                                                                      06/08.

                                                                                                                                                09/08.


                                                                                                                                                            12/08.

                                                                                                                                                                       03/09.


                                                                                                                                                                                   06/09.

                                                                                                                                                                                             09/09.


                                                                                                                                                                                                         12/09.


                                                                                                                                                                                                                    03/10.

                                                                                                                                                                                                                               06/10.


                                                                                                                                                                                                                                          09/10.
                                       Corporate deposits   Corporate loans
                                                                                 Corporate* Loan Volume
Source: NBP reports                                                              (BRE Bank only, PLN B)
                                                                                                                                                                     15.5 15.1
                                                                                                                                                          14.6                 14.7
                                                                                                                                    13.5 13.7                                                          14.0 13.6 14.0 13.7
                                                                                                                        12.8
                                                                                                 11.0 11.5
                                                                                     10.1
   PLN 14.9 B of corporate deposits in BRE Bank
   at the end of Q3/10 (up by 3.2% QoQ)

   PLN 13.7 B of corporate loans in BRE Bank
   at the end of Q3/10 (down by 2.7% QoQ)                                             30.06.07


                                                                                                  30.09.07

                                                                                                             31.12.07


                                                                                                                         31.03.08

                                                                                                                                    30.06.08


                                                                                                                                               30.09.08

                                                                                                                                                          31.12.08


                                                                                                                                                                      31.03.09

                                                                                                                                                                                 30.06.09


                                                                                                                                                                                            30.09.09

                                                                                                                                                                                                       31.12.09


                                                                                                                                                                                                                  31.03.10

                                                                                                                                                                                                                             30.06.10


                                                                                                                                                                                                                                        30.09.10
                                                                       * i.e. enterprises according to NBP (include only state, private and co-operative companies)


                                                                                                                                                                                                                                                   34
Appendix
Corporates and Institutions
Development of Loans and Deposits

Corporate Clients’ Loan Volume                                                         Corporate Clients’ Deposit Volume
(BRE Bank, PLN B)                                                                      (BRE Bank, PLN B)


       15.3          16.3           15.6          15.9           15.9                            15.7            17.1           17.1          17.2           18.0



                                                                                                                                                              13%
                      11%                           11%          12%                                             13%            13%            12%
       11%                          12%
                                                                                                  14%

                                                                                                                                               38%            36%
                                                                                                                 44%            38%
       52%            49%           51%             51%           51%                             40%




       37%            40%           37%             38%          37%                              46%            43%            49%            50%            51%


       IX/09         XII/09         III/10         VI/10          IX/10                           IX/09         XII/09          III/10        VI/10          IX/10




Segments of corporate clients:

        K1 – is the segment of the largest corporations with annual sales over PLN 500 M

        K2 – is the segment of medium-sized corporations with annual sales between PLN 30 M and PLN 500 M

        K3 – is the segment of SMEs with annual sales between PLN 3 M and 30 M



Customer segments K1, K2 and K3 include, besides enterprises, also public and non-bank financial institutions (leasing and insurance companies, pension funds etc.)




                                                                                                                                                                      35
Appendix
Corporates and Institutions
Client Base


  Corporate Clients: Number and Structure



12,846    13,098 13,081 12,990        12,992 12,836       12,783 13,026 13,126

K1 946   K1 968    K1 960    K1 905    K1 908    K1 898    K1 993
                                                                    K1 1062   K1 1083                      The total number of corporate clients
  K2       K2        K2        K2        K2        K2        K2       K2        K2                         at the end of Q3/10 was 13,126 companies;
3 853     3 896    3 883     3 852     3 875     3 810     3 679     3 860    3 905                        of which 62.0% were K3 clients
                                                                                                           and 29.8% were K2 clients

                                                                                                           In 2010, 1,631 new corporate clients were
  K3       K3        K3        K3        K3        K3        K3       K3        K3
                                                                                                           acquired, of which 58.2% were K3 Clients
8 047     8 234    8 238     8 233     8 209     8 128     8 111     8 104    8 138
                                                                                                           and 33.4% were K2 Clients


09/08     12/08     03/09     06/09     09/09    12/09     03/10     06/10     09/10




 Segments of corporate clients:

         K1 – is the segment of the largest corporations with annual sales over PLN 500 M

         K2 – is the segment of medium-sized corporations with annual sales between PLN 30 M and PLN 500 M

         K3 – is the segment of SMEs with annual sales between PLN 3 M and 30 M

 Customer segments K1, K2 and K3 include, besides enterprises, also public and non-bank financial institutions (leasing and insurance companies, pension funds etc.)




                                                                                                                                                                       36
Appendix
Corporates and Institutions
Cash Management

Cash Management – Strategic Product Line
Supporting Long-term Customer Relations

 Direct Debit                               Identification of Trade Payments           Number of Clients Using Cash
 (thou. of transactions)                    (M of transactions)                        Consolidation Services



             +6.4%                                    +2.9%                                         +4.1%




                      710                                      2.23                          539            561
      667                                     2.17




     Q2/10            Q3/10                   Q2/10           Q3/10                         Q2/10           Q3/10




  The number of direct debits processed in Q3/10 was approx. 710 thousand, up by 6.4% QoQ

  The number of identifications of trade payments in Q3/10 was over 2.2 M transactions, up by 2.9% QoQ

  The number of customers using bank account consolidation facilities grew by 4.1% QoQ;
  561 customers were using Cash Pooling and Shared Balances services at the end of 09/10




                                                                                                                      37
Appendix
Corporates and Institutions
Products with EU Financing and Financial Instruments

  Sales of Banking Products                              Product Pillar
  with EU Financing                                      of Financial Instruments*

    In Q3/10 the income on products                        The revenue on the Product Pillar
    connected with using EU funds increased by 31.1%       of Financial Instruments
    (compared to quarterly average in 2009)                to corporate customers
                                                           reached PLN 38.6M in Q3/10
    In Q3/10, income on Guarantees
                                                           The revenue was down by 5.0%
    connected with EU funds increased by 22.9%
                                                           comparing to quarterly average in 2009
    (compared to Q2 2010)
                                                           and down by 11.1% vs. Q2/10 as a result
                                                           of lower volatility in the FX market
  Sales of Banking Products with EU Financing            Revenue of Pillar of Financial Instruments
                                                         (PLN M)


                           +31.1%
                                                                               -5.0%

                                     0.6%
                                                                    40.6
                                                                                           38.6
                                    35.0%
                28.4%

                26.7%                       Promises
                                            Guarantees
                                    64.4%   Loans
                44.9%

         Quarterly average in       Q3/10                     Quarterly average in         Q3/10
                                                                     2009
                2009
                                                           * Comprises: FX Forward, FX Swap. derivatives,, T-bills, T-bonds etc.

                                                                                                                                   38
Appendix
Corporates and Institutions
Leasing and Factoring
Intermarket                 PLN 1.1 M pre-tax profit in Q3/10 (- 86.6% QoQ);                                            Sales of
                            drop of result due to impairment provisions in the Czech subsidiary                         Intermarket Group Companies
Group                       of PLN 8.2 M to better reflect the condition of the receivables portfolio                   (EUR B)
Companies*                  Sales at EUR 1.5 B in Q3/10 (+5.5 QoQ); EUR 4.2 B YtD (+10.8 YoY)                                      +8.5%
                                  - increase of sales visible in all Group companies
                                    (ranging from 8 to 23%)                                                                                  +5.5%

                                  - significant increase of sales volumes in the Hungarian subsidiary
                                    due to new factoring contracts signed in Q3 (+60% QoQ)
                                                                                                                                                  1.53
                                                                                                                           1.41     1.45

                        Polfactor
                            Pre-tax profit of PLN 3.1 M in Q3/10 (+3.1 QoQ); PLN 8.2 M YtD                                 Q3/09    Q2 /10       Q3/10
                            (+4.9% YoY) driven by increased sales and reduced impairment provisions
                            Sales at PLN 1.1 B in Q3/10 and PLN 3.2 B after Q3/10 (+8.1% YoY);
                            growth trend from 2009 continues in recourse business,
                            however with significantly lower dynamics;
                            Ranked 4th in the Polish market with a market share of 11.1% in 1H 2010

BRE Leasing                 PLN 16.2 M pre-tax profit in Q3/10 (+19.7% QoQ) v. pre-tax loss                             Value of BRE Leasing Contracts
                            of PLN 1.2 M in Q3/09 driven by lower loan loss provisions                                  (PLN M)
                            Concluded leasing contracts :                                                                          +63.2%
                                - total of PLN 604 M in Q3/10 (-10.5% QoQ) resulting from lower
                                  than in Q2 value of real estate contracts                                                                  -10.5%
                                - increase of sales by 5.7% YoY due to improvement in movables
                                  leasing (increase by 10%)
                                                                                                                                     675
                                                                                                                                                     604
                                                                                                                           370


*   Companies consolidated by BRE Bank: Intermarket Bank AG, Transfinance a.s., Polfactor S.A. and Magyar Factor zRt.
                                                                                                                          Q3/09     Q2 /10        Q3/10


                                                                                                                                                           39
Appendix
Corporates and Institutions
BRE Bank Hipoteczny (BBH)

 Loan Portfolio (PLN M)                                                                        Profit before Tax (PLN M)
 Balance-sheet Exposure

      3,589   3,866   4,344   4,562   4,464    4,308   4,143   3,923    3,958   3,818                          +23%

                                                                                                                          +44%




                                                                                                                             32.5
                                                                                                      26.4
                                                                                                                 22.5



                                                                                                      Q3/09.     Q2/10.      Q3/10.




     BBH’s total balance-sheet and off-balance-sheet                                              PLN 32.5 M profit before tax
     loan portfolio at the end of Q3/10 stood at PLN 4.22 B,                                      at the end of Q3/10, up 23% YoY
     down by 11.8% YoY                                                                            (PLN 26.4 M in Q3/09)

     Housing developers loan portfolio in Q3/10                                                   C/I ratio decreased from 49.6% in Q3/09
     at PLN 526.6 M (total balance-sheet)                                                         to 45.1% in Q3/10




 *   As of July 2004 BRE Bank Hipoteczny stopped granting loans to retail customers.
     The volume of housing loans represents the existing portfolio still managed by the Bank


                                                                                                                                            40
Appendix
Corporates and Institutions
Dom Inwestycyjny BRE Banku (DI BRE)

Number of Accounts with DI BRE                                                Profit before tax at PLN 9.8 M in Q3/10
End of 03/10 (thousand)                                                       compared to PLN 8.0 M in Q2/10 (up 22.8% QoQ)
DI BRE accounts                                                50.0
                                                                              Sustained strong market position in main segments
eBroker* (mBank)                                              181.5           of capital market
Brokerage Service* (MultiBank)                                 31.5
                                                                              Continuous growth of the number of clients:
TOTAL                                                        263.0            262.99 thou. accounts at the end of Q3/10
                                                                              compared to 238.8 thou. at the end of Q2/10
DI BRE Market Share
in Q3/10, by volume**                                                         Significant secondary market transactions executed in Q3/10:

Equities                                  5.90 %                       #5      ZUE S.A. Transaction type: initial public offering
Bonds                                     1.93 %                       #7                    DI BRE role: Lead Manager
Futures                                  14.44 %                       #2                    Transaction value: PLN 90M
Options                                  11.26 %                       #3
                                **Calculations based on WSE, DI data
DI BRE Equities Trading                                                                                    DI BRE Market Share in WSE Trading
(PLN M)
                                                                                                                  Equities            Futures             Options
      7 286     7 273      7 069      5 960      6 342

                                                                                                                                                      27.60%
                 1668       1672
        2585
                                       1734       1999

                                                                                                                                            14.44%
                                                            eBroker & MultiBank                                                   12.31%                        11.26%
                 5606       5397
        4701                           4226       4343      brokerage services
                                                            trading                                           4.90%      5.90%
                                                            Direct trading via DI
                                                            BRE

      Q3/09      Q4/09     Q1/10      Q2/10      Q3/10                                                        Q2/2010   Q3/2010   Q2/2010   Q3/2010   Q2/2010   Q3/2010



*A discrepancy between the number of accounts reported by Retail Banking of BRE Bank and DI results from lasting procedures of closing accounts

                                                                                                                                                                          41
Appendix
Corporates and Institutions
Proprietary Investments Portfolio

                                        Major Equity Investments                               Equity Stake
                                        at 30.09.2010

                                        BRE Gold FIZAN                                         100.00%

                                        Garbary Sp. z o.o.                                     100.00%

   At the end of Q3/2010,
   value at cost
   of proprietary investments
   and mezzanine portfolio
                                                                                                                    Incl.:
   reached PLN 199.1 M                  Portfolio Value                                                           PLN 19,9 M
                                        (PLN M)                                                                     bonds*
   Compared to end of Q2/ 2010
   the total value of the proprietary
   investment and mezzanine portfolio
   was at the same level

                                        241   237         232   238       196   201        199     321        199     359


                                         30.09.09          31.12.09        31.03.10         30.06.10            30.09.10


                                           Value at cost              Book value

                                                                             * Bonds issued due to mezzanine finance transactions




                                                                                                                                    42
Appendix
Trading and Investment Activity
Market Share
BRE Bank’s Market Share*                                                        BRE Bank in the Market of Non-Treasury Debt**
in Investment Banking Services                                                  at 30.09.2010 (PLN M)
                                                                                                             16,403.6

                                                                                      14,019.7
                                                                                                                                    10,415.7
                 6.5%                             20.3%



                                                                                                                      3,034.8
                                                                                                                                             2,359.3
                                                                                                 2386.1



         Treasury                       IRS/FRA                                       Short-term Debt        Corporate Debt       Non-Treasury Debt
     Bills and Bonds

                                 5.2%
                                                                                            17.02%                   18.50%                    22.65%
                                                                                                #3                       #2                        #1




                  FX Spot & Forward


                                                                                                                                               Market
                                                                                                                                               BRE Bank
                                                    *    As at 31.08.2010; own calculations based on NBP
                                                    **   After Fitch Polska S.A., Rating & Rynek, 30.09.2010 and own calculations (without BGK road bonds)


                                                                                                                                                             43
Appendix




    Business Environment




                           44
    Q3/10: Business Environment
    Recovery Gradually Gains Momentum

 GDP growth reached 3.5% YoY in Q2/10 and is expected to                                                                           The weather-related slump in investment activity is over and we
 increase slightly in Q3/10                                                                                                        await further improvement
                                Net exports                   Consumption                     Investment                                         50                                                                          8
     GDP growth                 Inventories                   GDP                                                           Capacity utilisation
       in Poland10                                                                                                               (level), fixed                                                                              4
         (% YoY)       6.1                                                                                                            business 40
and contribution 8                                                                                                            investment % y/y                                                                               0
         of main 6                 5.2      3.2                                                                                                  30
      categories 4                                                                   3.3      3.0       3.5                                                                                                                  -4
  to GDP growth                                                           1.8
                                                               1.1                                                                                20
            (pp.) 2                                   0.7
                                                                                                                                                                                                                             -8
                 0
                                                                                                                                                  10               Capacity utilisation (left axis)
                 -2                                                                                                                                                Fixed business investment (right axis)                    -12
                 -4
                                                                                                                                                  0                                                                          -16
                 -6




                                                                                                                                                           IV


                                                                                                                                                           IV


                                                                                                                                                           IV


                                                                                                                                                           IV


                                                                                                                                                           IV


                                                                                                                                                           IV


                                                                                                                                                           IV


                                                                                                                                                           IV
                                                                                                                                                              I


                                                                                                                                                              I


                                                                                                                                                              I


                                                                                                                                                              I


                                                                                                                                                              I


                                                                                                                                                              I


                                                                                                                                                              I


                                                                                                                                                              I


                                                                                                                                                              I
                                                                                                                                                            II


                                                                                                                                                            II


                                                                                                                                                            II


                                                                                                                                                            II


                                                                                                                                                            II


                                                                                                                                                            II


                                                                                                                                                            II


                                                                                                                                                            II


                                                                                                                                                            II
                                                                                                                                                           III


                                                                                                                                                           III


                                                                                                                                                           III


                                                                                                                                                           III


                                                                                                                                                           III


                                                                                                                                                           III


                                                                                                                                                           III


                                                                                                                                                           III


                                                                                                                                                           III
                        Q2'08


                                    Q3'08


                                              Q4'08


                                                      Q1'09


                                                                Q2'09


                                                                           Q3'09


                                                                                      Q4'09


                                                                                               Q1'10


                                                                                                        Q2'10
                                                                                                                                                           2002   2003 2004    2005 2006      2007 2008 2009 2010
                                                                                                       Source: StatOffice                                                                                       Source: StatOffice


 Headline inflation is set to rise. Market expects monetary
 tightening                                                                                                                        Q3/10 brought further rebound in foreign trade of goods
                                                                                                                                                   40
                                                                                                                                       Exports,
     CPI (% YoY), 7.0
                                                                                                                                       imports,
   NBP reference 6.0
                                                                                                                                         (EUR)     20
        rate (%),
                                                                                                                                          %YoY
    WIBOR 3M (%) 5.0
                      4.0
                                                                                                                                                       0
                      3.0                                                                                         CPI
                                                                                                                  target
                      2.0                                                                                         band                            -20
                      1.0

                      0.0                                                                                                                         -40
                                Q3'08         Q1'09                     Q3'09           Q1'10        Q3'10
                                                                                                                                                     07-08        12-08    05-09     10-09     03-10        08-10
                                  CPI inflation, %YoY                              NBP reference rate, %
                                  WIBOR3M rate, %                                                                                                            Imports (EUR), %YoY        Exports (EUR), %YoY
                                                                                              Source: NBP, Bloomberg                                                                                                Source: NBP



                                                                                                                                                                                                                                   45
     Q3/10: Business Environment
     Banking Sector Expected to Rebound in H2/10 May Come With Delay
  Corporate loans growth rate still negative, but drop
  moderated in comparison with Q2/10, whereas                                                     Household loans growth rate rebound weaker, household deposits
  corporate deposits growth stabilises                                                            growth rate stabilises

                                                   Enterprises                                                                               Households
   Corporate loans                                                                                Household loans
     and deposits,                                                                                  and deposits,
             %YoY         40                                                                                %YoY    70
                          30                                                                                        60
                                                                                                                    50
                          20                                                                                        40
                                                                                                                    30
                          10                                                                                        20
                                                                                                                    10
                           0
                                                                                                                     0
                      -10                                                                                                 08-08   01-09     06-09     11-09        04-10   09-10
                               08-08   01-09       06-09    11-09     04-10      09-10
                                                                                                                                            Deposits, %YoY
                                                     Deposits, %YoY                                                                         Loans (total), %YoY
                                                     Loans, %YoY                 Source: NBP                                                Mortgage loans, %YoY               Source: NBP




  Quantitative Easing 2.0 in the US stimulates EM assets                                          High volatility of CEE currencies amid weak appreciation trend
                  210                                                                                               110
     Stock indices
                                                                                                              CEE   108
 PX (Czech Rep.) 190
                                                                                                       currencies
   BUX (Hungary)                                                                                                    106
                   170                                                                                   vs. EUR,
  WIG20 (Poland)
                                                                                                           index    104
and S&P500 (USA) 150
                                                                                                  01.01.2010=100    102
  01.01.2009=100
                  130                                                                                               100
                  110                                                                                               98
                     90                                                                                             96
                                                                                                                    94
                     70
                      01-09 04-09 07-09 10-09 01-10 04-10 07-10 10-10                                               92
                                 PX (Czech Rep.)                BUX (Hungary)                                        01-10        03-10      05-10        07-10        09-10
                                 WIG20 (Poland)                 S&P500 (USA)
                                                                                                                                  EUR/PLN       EUR/CZK       EUR/HUF
                                                                              Source: Bloomberg                                                                      Source: Bloomberg



                                                                                                                                                                                             46
Appendix




    Additional Information:
    Selected Financial Data




                              47
Appendix
Additional Information: Selected Financial Data
Consolidated Profit and Loss Account under IFRS


PLN thou.
By quarter
                                                  Q3/09       Q4/09       Q1/10       Q2/10       Q3/10

Net interest income                             412 052     417 535     390 537     436 254     481 048

Net commission income                           162 758     152 001     173 893     172 449     199 211
Dividend income                                      18      96 227         330       2 611       5 222

Net trading income                               99 551      82 861      96 171     122 058      88 169

Gains less losses from investment securities     20 346      (3 968)           -     16 896      29 604

Other operating income                           47 138      59 651      52 131      93 268      63 796
Net credit and loans impairment provisions     (248 770)   (190 378)   (177 061)   (203 500)   (128 230)
Overhead costs                                 (304 820)   (376 105)   (294 937)   (332 220)   (358 253)
Depreciation/Amortisation                       (59 248)    (82 324)    (59 201)    (59 334)    (58 672)
Other operating cost                            (17 727)    (73 597)    (24 089)    (77 477)    (41 969)
Operating profit                                111 298      81 903     157 774     171 005     279 926
Profit before tax                               111 298      81 903     157 774     171 005     279 926
Net profit attributable
                                               72 486      40 778      115 416     124 251     206 453
to owners of BRE Bank




                                                                                                           48
Appendix
Additional Information: Selected Financial Data
Results of Subsidiaries
                                                                                                                                                                      Profit before Tax of Consolidated Subsidiaries
                                                                                                                                                                                                            (PLN M)
                                        43.6

                                                                                                                   36.6                                                                                                       Q1-3/09
                                                        32.5                              33.0
                                                               27.9               29.9
                                               26.4                                                                                                                                                                          Q1-3/10
  Q1-3/10 profit
                                                                         26.8


                                                                                                                                                                                         18.2

  before tax                                                                                               11.2
                                                                                                                                                                8.2
                                                                                                                                                                                      16.1


                                                                                                                            6.5             7.6       7.9                      6.0
  of consolidated                 3.6                                                                                              3.5                                   2.8



  subsidiaries




                                                                                    ia
                                                    y




                                                                                                                       um




                                                                                                                                                            r
                                                                                                       k




                                                                                                                                                                                       r
                                                                     E




                                                                                                                                        o




                                                                                                                                                                        WM
                                  ing




                                                                                                                                                        cto
                                                  zn




                                                                                                                                                                                       he
                                                                                                    an
                                                                  BR




                                                                                                                                    pir
                                                                                     en




                                                                                                                   loc
                                                  c
                               as




                                                                                                                                                                                     Ot
                                                                                                    tB




                                                                                                                                                    lf a
                                                                                   cz




                                                                                                                                  As
                                               te




                                                                                                                                                                         E
                                                               DI
                             Le




                                                                                                                                                                      BR
                                                                                                                E.
                                                                               pi e



                                                                                                 rke
                                             po




                                                                                                                                                  Po
  at PLN 193.6 M




                                                                                                             BR
                              E



                                          Hi




                                                                             ez



                                                                                              ma
                           BR




                                                                          Ub
                                          nk




                                                                                           er
                                        Ba




                                                                                          I nt
                                                                       E
                                                                    BR
                                      E
                                   BR                                                             -21.2*
                                                                                                                                                                             * Incl. loss of PLN 35.3 M on Romanian subsidiary, sold in 10/09




  v. PLN 133.5M                                                                                                                                                          Contribution of BRE Bank Group Subsidiaries
                                    profit before tax:                             profit before tax:
                                                                                                                                                                                      to Profit before Tax in Q1-3/10
  in Q1-3/09                                   127,487                                       608,705                                                                                                          (PLN M)
  (+45.1% YoY)
                                                                                                                                                                                                                              BRE Bank

                                                                                                  428.0                                                                                                                       Subsidiaries*

                                                                                                                                                                                                                             Consolidation
                                                  70.6
                                                                                                                                                                                                                             adjustments
                                                                                                 193.6
                                                  133.5
                                                                                                   -12.9
                                                  -76.6
                                                                                                                                                                                                      * incl. gross profit of BRE Ubezpieczenia
                                                Q1-3/09                                           Q1-3/10                                                                                       according to its statutory financial statements




                                                                                                                                                                                                                                                  49
Appendix
Additional Information: Selected Financial Data
Net Interest Income & Margin

 Interest Income Structure                                                            Net Interest Income, Q3/10 by Business Line
 (PLN M)                                                                              (PLN M)
                                                                                                                                     +10.3%
    828.2       834.3       821.8     859.7       863.5                                                                                                            -3.4
                                                                                                                                                     66.7



                 1.1         4.0        5.2           1.7                                                                       151.2
      2.7
                 17.3                   8.1
     14.9                    10.7
                                                      7.7
                                                                                                                                                                                   481.0
                                                                                               436.3
                                       603.2       611.3
     627.8      632.5       596.8
                                                                                                               266.5



     141.5      143.0       168.1      199.9       205.8
     41.1       40.4         42.1       43.3         37.0
                                                                                           Net Interest      Retail Banking   Corporates &         Trading and   Other and       Net Interest
     Q3/09      Q4/09       Q1/10      Q2/10       Q3/10
                                                                                          Income in Q2/10                     Institutions         Investment    Eliminations   Income in Q3/10
                                                                                                                                                     Activity

 Interest Income Structure
                                                                                                                          Corporates & Financial Markets
 (%)

                                     Q3/09     Q4/09        Q1/10   Q2/10     Q3/10
    Cash and short-term deposits       5%       3%           5%      5%        4%      Net Interest Margin (NIM at the end of period,%)*
    Investment securities              17%      17%         21%     23%        24%
                                                                                           3           6            9         12             3            6       9
    Loans and advances                 76%      78%         73%     70%        71%         m           m            m         m              m            m       m

    Debt securities                    2%       2%           1%      1%        1%                            2009                                      2010
    held for trading
    Other                              0%       0%           0%      1%        0%         2.2          2.3          2.3       2.3            2.0        2.1      2.1



 *Margin calculated as net interest income to average income-earning assets


                                                                                                                                                                                                  50
Appendix
Additional Information: Selected Financial Data
Commission Income
Commission Income Structure                                                 Net Commission Income, Q3/10 by Business Line
(PLN M)                                                                     (PLN M)
   259.3     266.3         278.5   282.7    302.6                                                                     +15.5%

                                                                                                                                               9.5
                                                                                                                                21.0



                                                                                                                 80.2

                                                                                                                                                            199.2
                                                                                   172.4


                                                                                                  88.5




    Q3/09     Q4/09        Q1/10   Q2/10        Q3/10                                Net      Retail Banking Corporates &    Trading and    Other and         Net
                                                                                 Commission                   Institutions   Investment    Eliminations   Commission
                                                                                  Income in                                    Activity                    Income in
                                                                                    Q2/10                                                                    Q3/10
Commission Income Structure                                                                              Corporates & Financial Markets
(%)

                                                   Q3/09   Q4/09   Q1/10   Q2/10    Q3/10
      Credit related                               18%     20%     20%     21%      17%
      Portfolio management                         1%      2%      1%      1%         1%
      Guarantees and documentary transactions      5%      4%      4%      3%         3%
      Payment cards                                30%     29%     27%     27%       28%

      Brokerage fees                               12%     10%     10%     9%         10%
      Accounts & money transfers                   15%     16%     15%     16%        15%
      Insurance activity                           8%      9%      10%     15%        14%
      Other (incl. custody)                        11%     10%     13%     8%         12%



                                                                                                                                                                       51
Appendix
Additional Information: Selected Financial Data
Trading Income
Contributors of Net Trading Income                                                       FX Result Contributors in Q3/10
(PLN M)                                                                                  (PLN M)
                                                                                                 39.3
 140
                                                                     Retail Banking
 120

                                                                     Financial Markets
 100


  80                                                                 Risk & Liquidity
                                                                                                                                                                                                              16.1
  60                                                                                                                         13.8
                                                                     Other -
  40
                                                                     corporate                                                        7.6
                                                                                                                 6.2
  20                                                                 K3                                                                                           2.4
                                                                                                                                                   0.0                                  0.1
  0
                                                                     K2
                                                                                                                                                                                                  -2.0
 -20




                                                                                                                                                                                                              Origination
                                                                     K1




                                                                                                                                                                                       BRE Bank
                                                                                                 Banking




                                                                                                                                                                   BRE Leasing
                                                                                                                 K1



                                                                                                                              K2



                                                                                                                                      K3




                                                                                                                                                                                                  Liquidity
                                                                                                                                                  Institutions




                                                                                                                                                                                                              Trading &
                                                                                                  Retail




                                                                                                                                                   Financial




                                                                                                                                                                                                   Risk &
           Q2/09    Q3/09      Q4/09      Q1/10     Q2/10    Q3/10




                                                                                                                                                                                         Hip.
Net Trading Income Structure                                                             Share of Client Driven Transactions in Net Trading Income
(PLN M)                                                                                  (%)
 200

 180
                                                                                         Q3/10
 160

 140
                                                                                         Q2/10
 120
                                                   7.3
 100
             2.6                                                     Other Trading       Q1/10
                                       12.9                 4.8      Income
   80
                        6.9
   60
                                                  114.8              FX Result           Q4/09
             96.9                      83.3                 83.4
   40
                       76.0
   20
                                                                                         Q3/09
       0

                                                                                                 0%        10%         20%   30%    40%     50%       60%        70%             80%       90%    100%
            Q3/09      Q4/09       Q1/10          Q2/10     Q3/10
                                                                                           Transactions with Customers                    Risk & Liquidity                       Financial Markets




                                                                                                                                                                                                                            52
Appendix
Additional Information: Selected Financial Data
Administrative Expenses Structure



Structure of Administrative Expenses incl. Depreciation         C/I Ratio of BRE Bank Group
(PLN M)                                                         (%, as at the end of period)


    364.1        458.4        354.1      391.6         416.9

                   12.2

                   82.3                                15.8
                                          15.2                                54.2
                                                       58.7
      13.4                                                         51.5
                               15.4       59.3                                            51.4    51.2     51.0
      59.2
                               59.2
                  187.5                                148.2
                                          145.6
     140.8                    120.2




                  176.4                                194.2
     150.7                    159.3       171.5




     Q3/09        Q4/09       Q1/10      Q2/10         Q3/10      09/09.      12/09.     03/10.   06/10.   09/10.


       Personnel costs    Maintenance   Depreciation    Other




                                                                                                                    53
Appendix
Additional Information: Selected Financial Data
Loans and Deposits

  Loans
  (PLN B, net)
                          +3.6%
                                                                BRE Bank*               Market*


                                    55.6
    52.7      52.5        50.9
                                              54.6      QoQ   -1.6%              +0.4%


              -0.4%       -3.0%     +9.2%     -1.8%
                                                        YoY   +4.7%              +6.7%

                                                                            * Data relate to gross loans
    09/09.    12/09.      03/10.    06/10.    09/10.


 Deposits
 (PLN B)
                          +12.9%                                BRE Bank                Market

                           44.9      44.5      44.5
     39.4
                 42.8
                                                        QoQ   +0.1%              +0.6%


              +8.5%       +5.0%     -1.0%     +0.1%
                                                        YoY   +12.9%             +10.5%

     09/09.      12/09.    03/10.    06/10.    09/10.




                                                                                                           54
Appendix
Additional Information: Selected Financial Data
Loan to Deposit Ratio

                                        LtD Ratio in BRE Bank Group




                                          133.6   125.0   122.6

                                                                           79.8    77.5   78.4
                                                                                                         L/D - balance sheet
  The ratio of loans to deposits
                                                                                                         L/D "real" ratio
  stood at 122.6% in Q3/10
                                         Q3/09    Q2/10   Q3/10           Q3/09   Q2/10 Q3/10
  However, funding policy for FX risk
                                        Structure of Financing Loans of BRE Bank Group
  mitigation is implemented             at 30.09.2010 (PLN B)

                                                                                                            FX loans from
  BRE mid-term loans in CHF fund CHF-                                                                       banks
  denominated mortgages, therefore...
                                                                                                            Subordinated debt in CHF
                                                                                                            Mortgage bonds


...the ‘real’ loans to deposits
  ratio is    78.4%
                                                                                                             Deposits

                                                                  Loans           Sources of financing




                                                                                                                                       55
Appendix
Additional Information: Selected Financial Data
Balance Sheet Analysis – Currency Structure

Currency Structure of Loans                                                  Currency Structure of Amounts due to banks and customers                         1)

(PLN B)                                                                      (PLN B)
                                                       1.8                                                                            3.8
                                                                                                                         3.5                          3.5
                                                 1.9              1.61.9                                              1.8          2.0
1.5 1.7     1.6
                  1.6            1.2                                                4.3
                                                                                                        4.2                                        1.8
                              1.6                                                                    1.1                 8.1          9.3
                                                       7.7          7.9          0.9                                                                    8.8
   6.9            6.7            6.3                                                                    8.7
                                                                                    8.2

                                                                                                                        19.7         22.9            21.1
                                                                                      19.4             19.3
  20.3        20.2               19.6              22.4             21.2




                                                                                                                        40.6         37.8            38.1
                                                                                      35.5             37.1
  22.4        22.4               22.2              21.6             22.0




 09/09.      12/09.             03/10.            06/10.          09/10.          09/09.             12/09.           03/10.        06/10.          09/10.




           09/09        12/09            03/10          06/10     09/10                      09/09            12/09       03/10     06/10         09/10

    PLN     43%         43%              44%             39%       40%     PLN               52%              53%          55%       50%           52%

    CHF     38%         38%              39%             40%       39%     CHF               29%              27%          27%       30%           29%

    EUR     13%         13%              12%             14%       15%     EUR               12%              12%          11%       12%           12%

    USD      3%          3%               3%                 4%     3%     USD                1%               2%          2%         3%           2%
   Other     3%          3%               2%                 3%     3%     Other              6%               6%          5%         5%           5%


                                                                                 1)   incl. amounts due to other banks and customers and subordinated liabilities

                                                                                                                                                                    56
Appendix
Additional Information: Selected Financial Data
Balance Sheet Analysis - Assets

Structure of Assets                                                                           Loans and Advances to Customers*
(PLN B)                                                                                       Portfolio by Customer Category
                                                                           84.4               (PLN B)
     78.6            81.0               84.8             88.9
                                                           3.3
                                                           3.1
                                          4.4                                   3.7                                                                1.1              1.4
                                                                                1.6
                          6.4             3.6                                                         0.6
      6.1                                                                                                             1.3          1.1
                          3.5                              18.9
      2.5
                                          15.0                                 19.2
      11.2               13.1
                                                        0.7 1.9
                                       0.7 1.8                            0.8 1.5
      2.5                 1.9                               5.5                                                                                    32.9
       1            1.1                   8.3                                 3.0                    28.4             28.9                                          31.8
      2.6                 2.5                                                                                                      28.8




      52.7                                                 55.6                54.6
                         52.5             50.9

                                                                                                     24.8             23.4         22.6            23.2             23.2




     09/09.          12/09.              03/10.           06/10.               09/10.
                                                                                                    09/09.         12/09.         03/10.          06/10.           09/10.


                                           09/09   12/09          03/10   06/10 09/10                                        09/09        12/09   03/10    06/10     09/10

    Loans and advances to customers        67%     65%            60%     63%           65%        Corporate customers       47%          44%     43%      41%       41%
    Amounts due from banks                 3%      3%             10%     6%            3%         Retail customers          52%          54%     55%      57%       56%
    Trading securities                     1%      1%             1%      1%            1%         Public sector             1%           2%      2%       2%        3%
    Derivative financial instruments       3%      2%             2%      2%            2%
    Investment securities                  14%     16%            18%     21%           23%
    Assets under pledge                    3%      4%             4%      3%            2%
                                                                                                *Gross loans and advances to customers (excl. ‘other advances’)
    Other                                  9%      9%             5%      4%            4%




                                                                                                                                                                             57
Appendix
Additional Information: Selected Financial Data
Balance Sheet Analysis - Liabilities


 Structure of Liabilities                                                       Structure of Deposits
 (PLN B)                                                                        (PLN B)
      78.6        81.0           84.8           88.9             84.4
                                                 7.9
                                  7.9                             5.5
                        7.5                      6.8
         7.3                      4.5                             6.9
                                  1.4            1.3                                                                 0.7                0.8            0.4
                        4.3                                       1.5                                 0.2
         4.2            1.4
         1.5
                                                                                     0.5
                                 26.1            28.4            26.0                                                17.7               17.6
                        25.0                                                                          17.5                                            19.5
        26.2
                                                                                    16.5




                        42.8     44.9            44.5            44.5                                                26.5
        39.4                                                                                          25.1                              26.1          24.6
                                                                                    22.4




       09/09.          12/09.    03/10.         06/10.           09/10.            09/09.          12/09.          03/10.           06/10.           09/10.



                                   09/09   12/09         03/10   06/10 09/10                                 09/09         12/09   03/10       06/10 09/10

    Liabilities to customers       50%     53%           53%     50%      53%      Retail customers          57%           59%     59%         59%   55%
    Liabilities to other banks     33%     31%           31%     32%      31%      Corporate customers       42%           41%     39%         39%   44%
    Debt securities in issue       2%      2%            2%      1%       2%       Public sector             1%            0%      2%          2%    1%
    Equity (total)                 5%      5%            5%      8%       8%
    Other                          10%     9%            9%      9%       6%




                                                                                                                                                              58
Appendix
Additional Information: Selected Financial Data
Funding - Maturity of Long- and Midterm FX Loans


Significant improvement
of funding profile achieved

  Since 2010 mid-term loans in the amount                  Maturity of Long- and Mid-term FX Loans by the end of 2012
  of CHF 3.0 B primarily maturing in 2010 and 2011                                                            (PLN B)
  were extended to longer tenors                     25
  (up to 2013 - 2018)
                                                     19
  This results in significantly improved
  asset liability profile in foreign currencies
                                                     13
                                                               23.3
  Moreover in H1/10 BRE was granted
  3 additional FX loans                              7
  (including USD 100 M, USD 100 M, CHF 350 M)
                                                                                   0.0                2.8      2.5
                                                     1
  By the end of 2011 BRE Bank will need to
  refinance PLN 2.8 bn or 12%                             Total LT funding   By the end of 2010       2011     2012
  of long- and mid-term loans drawn in the past      -5
  to fund FX lending
  (PLN 5.3 B or 23% by the end of 2012)                                                           repayments




                                                                                                                        59
Appendix
Additional Information: Selected Financial Data
BRE Bank Group’s Capital Adequacy Ratio (CAR) in Q3/10


Relation between Capital Adequacy Ratio (CAR)            Change of CAR under Basel II
and Risk Weighted Assets (RWA)

90                                                 17%                                                      15.89%
                                                                                              +56 bps
80
                                                   15%
70                                                                12.03%       +330 bps
60                                                 13%

50
                                                   11%
40
                                                                                                             10.62%
30                                                 9%
                                                                   6.68%                                      Core
20                                                                  Core                                      Tier 1
                                                   7%
10                                                                 Tier 1
0                                                  5%
                                                                 30.06.2010    Increase of   RWA decrease   30.09.2010
   06

   06

   06

              06

              07

              07

              07

                            07

                            08

                            08

                            08

                            08

                            09

                            09

                            09

                            09

                            10

                            10

                            10
 1/

 2/

 3/




            1/

            2/

            3/




                          1/

                          2/

                          3/

                          4/

                          1/

                          2/

                          3/

                          4/

                          1/

                          2/

                          3/
           YE




                         YE




                                                                              consolidated     in Q3/10
Q

Q

Q




           Q

           Q

           Q




                         Q

                         Q

                         Q

                         Q

                         Q

                         Q

                         Q

                         Q

                         Q

                         Q

                         Q
                                                                                own funds
             Basel I                    Basel II
      RWA (PLN B; LHS)   CAR (%; RHS)




                                                              CAR at 15.89% in 09/10
     CAR at 15.89%                                            vs. 12.03% in 06/09
                                                              11.50% in 12/09
     and Core Tier 1
                                                              Core Tier 1 ratio at 10.62%
     at 10.62% in 09/10                                       compared to 6.68% in 06/10
                                                              and 6.62% in 12/09




                                                                                                                         60
Appendix
Additional Information: Selected Financial Data
Capital Adequacy Ratio under NCA



  Capital Adequacy Ratio under NCA


   Capital Requirement               Q4/07         Q4/08      Q4/09      Q3/10
   (PLN M)                           Basel I      Basel II   Basel II   Basel II


   Credit risk                       2 998        4 177      3 886      3 994

   Market risk                          93            89         46         42

   Operational risk                       -         326        375        375

   Other risks                          24          120          50         46

   Total capital requirement         3 114        4 712      4 357      4 457

   CAR (%)                           10.16        10.04      11.50      15.89




                                                                                   61
Appendix
Additional Information: Selected Financial Data
Loan Loss Provisions 1/2




Net Credit and Loans Impairment Provisions                                                    BRE Bank Portfolio Quality
(consolidated data, PLN M)                                                                    (%)

            -269.1                         -1 097.1                   -508.8
                                                                                             6,5                                                                                                                                                    6,1       6,5
                                                                                               6
                                                                                                                                                                                                                                            5,4
                                                                                             5,5                                                                                                                  5.1       5,2 5,3                           5,5
                                                                                                                                                                                                                                                      5,6
   -22                                                                                         5                                                                                                                                                    5,1
           -46                                                                                                                                                                                                                                                4,5
                   -71                                                                       4,5                                                                                                        4.4                 4.7 4,8
                                                                                                   3.9       4       4
                                                                                                                                     3.8
                                                                                               4                                                                                                                       4
                           -131                                                    -128                                       3.5               3.4                                                                                                           3,5
                                                                                             3,5                                                                                                              3.5
                                                                                                                                                                 3       2.9                    3
                                                                   -177                                                                                2.7
                                                                                               3    3                                                                            2.5 2.5
                                                           -200            -204                              3                                                                                                                                                2,5
                                   -210                                                                             2.8
                                                                                             2,5                            2.5
                                                   -249                                                                              2.2                                                            2.3
                                                                                               2                                             1.9                                                                                                              1,5
                                                                                             1,5                                                                                          1.6
                                                                                                                                                      1.5      1.4      1.4 1.4
                                                                                               1                   NPL acc. to NBP rules (LHS)*                                                                                                               0,5
                                                                                             0,5
                                                                                                                   Default acc. to IAS (RHS)
                                                                                               0                                                                                                                                                              -0,5
                                           -439




                                                                                                   Q2/06

                                                                                                           Q3/06

                                                                                                                    Q4/06

                                                                                                                             Q1/07

                                                                                                                                     Q2/07

                                                                                                                                              Q3/07

                                                                                                                                                       Q4/07

                                                                                                                                                               Q1/08

                                                                                                                                                                       Q2/08

                                                                                                                                                                               Q3/08

                                                                                                                                                                                       Q4/08

                                                                                                                                                                                                Q1/09

                                                                                                                                                                                                          Q2/09

                                                                                                                                                                                                                    Q3/09

                                                                                                                                                                                                                            Q4/09

                                                                                                                                                                                                                                    Q1/10

                                                                                                                                                                                                                                            Q2/10

                                                                                                                                                                                                                                                      Q3/10
   Q1/08   Q2/08   Q3/08   Q4/08   Q1/09   Q2/09   Q3/09   Q4/09   Q1/10   Q2/10   Q3/10



                                                                                           *For comparability – calculated on the balance-sheet and off-balance sheet portfolio




                                                                                                                                                                                                                                                                     62
Appendix
Additional Information: Selected Financial Data
Loan Loss Provisions 2/2


Retail Banking provisions by quarters                                                  Corporates & Markets provisions by quarters
(PLN M)                                                                                (PLN M)
                               440.6                                                                                 656.5



    82.1 130.5 126.1 101.9                          103.5 95.6           68.7            127.9       308.3 122.7 97.6                            73.6 107.9 59.5




     Q1/09    Q2/09    Q3/09    Q4/09     2009      Q1/10     Q2/10      Q3/10
                                                                                          Q1/09      Q2/09       Q3/09      Q4/09      2009       Q1/10      Q2/10     Q3/10

      Mortgage                                                                                Standard provisioning
      mBank cash loans                                                                        Leasing clients
      Non-mortgage loans                                                                      Provisions arising from derivative exposures


                        Q3        Q4        Total     Q1         Q2         Q3                                      Q3          Q4            Total       Q1         Q2        Q3
                        2009      2009      2009      2010       2010       2010                                    2009        2009          2009        2010       2010      2010

  Non-mortgage loans     51.2      47.6     182.2      54.2       46.1       48.4        Standard provisioning       100.7          85.1      276.8        66.5      137.1      55.6

  mBank cash loans       73.3      48.1     247.8      41.1       19.7       10.4        Leasing clients                 28.8       16.1      104.6         4.5        6.5       7.2

  Mortgage               1.59       6.0      10.6       8.1       29.8           9.9     Provisions arising              -6.9       -3.6      275.1         2.4      -35.7      -3.3
                                                                                         from derivative
                                                                                         exposures




                                                                                                                                                                                       63
 Appendix
 Additional Information: Selected Financial Data
 Structure of BRE Bank’s Risk Portfolio

 Quality of the Loans and Default Portfolios
                                                                                                                           NPLs under NBP
            3.6%     3.4%       2.8%     2.8%          3.4%      4.8%     5.9%       5.9%      6.3%      6.4%      7.4%    rules (balance-sheet
                                                                                                                           NPLs to total loans)



100%        1.4      1.4        1.4      1.6           2.3        3.5     4.0        4.7       4.8       5.1         5.6
            98.6     98.6       98.6     98.4          97.7      96.5     96.0       95.3      95.2     94.9       94.4         Specific provisions
80%                                                                                                                             to the default
                                                                                                                                portfolio
                                                                                                                                (coverage ratio)
60%                                                                                                                             under IFRS

                                                                                                                                Non-default
40%
                                                                                                                                Default
           70%      68%        68%      57%            51%       53%     56%         57%       61%      59%        57%
20%


 0%

           03/08.   06/08.     09/08.   12/08.      03/09.      06/09.   09/09.     12/09.    03/10.    06/10.    09/10.

 Structure of the Default & Non-Default Portfolio

   PLN M               09/10            % share               06/10       % share            09/09         % share
   Default                    3 523              5.6             3 191             5.1          2 330              4.0

   Non-default               59 517             94.4            59 568            94.9         55 915             96.0

   TOTAL                    63 040             100.0            62 759           100.0         58 245            100.0




                                                                                                                                                      64
Appendix
Additional Information: Selected Financial Data
NPLs: Portfolio Structure*

                                               09/10                              06/10                        09/09
                          Expo-
                           sure
                                               Provisions
                                                   %
                                                             Expo-
                                                              sure
                                                                                  Provision
                                                                                      s
                                                                                                Expo-
                                                                                                 sure
                                                                                                               Provisions
                                                                                                                   %        7.4% of NPLs
                                       %       coverage                   %          %                  %      coverage
                          PLN B                              PLN B                coverage      PLN B
                                                                                                                            in the portfolio
           Regular        45.6       92.6           0.7       46.8       93.6          0.8       42.3   94.1         1.3
                                                                                                                            (balance-sheet)
          Standard         44.5       90.4          0.4       45.3       90.6          0.4       41.2   91.6         0.5    at the end
             Watch          1.1        2.2        11.9         1.5        2.9        10.5         1.1    2.5       32.9
                                                                                                                            of Q3 2010
          Irregular         3.6        7.4        51.0         3.2        6.4        53.8         2.7    5.9       35.2


    Sub-Standard            1.4        2.9        19.2         1.1        2.2        22.9         1.1    2.5       21.8
          Doubtful          0.4        0.8        34.6         0.5        1.1        37.2         0.8    1.7       12.6
                Loss        1.8        3.7        80.6         1.6        3.1        81.4         0.8    1.7       76.5


             TOTAL        49.2        100           4.4       50.0        100          4.2       45.0   100          3.3



* BRE Bank’s balance-sheet loans portfolio – balance-sheet credit debt (excluding credits not drawn)


   As BRE Bank applies the IFRS provisions and methodologies, the structure of the credit risk portfolio under PAS (Finance Ministry Regulation)
   can be used mainly to compare BRE with banks which do not apply IFRS



                                                                                                                                                   65
Contact


    BRE Bank’s Investor Relations Officers at your service:

    Marcin Chanke                           Secretariat:   +48 22 829 04 80
    Head of Investor Relations              Direct dial:   +48 22 526 70 33
                                            Fax:           +48 22 829 04 88
                                            E-mail:        marcin.chanke@brebank.pl


    Joanna Filipkowska                      Direct dial:   +48 22 829 04 53
    Deputy Head of Investor Relations       Fax:           +48 22 829 02 97
                                            E-mail:        joanna.filipkowska@brebank.pl




    Visit our Investor Relations website:

    www.brebank.pl




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