Interest rate risk
The following tables present the sensitivity test of the portfolio of financial instruments for which the PZU Group bears the risk (except for loan receivables from clients and deposit liabilities) and the portfolio of liabilities under insurance agreements.
| 31 December 2023 | 31 December 2024 | |||||||
|---|---|---|---|---|---|---|---|---|
| Net profit | Equity | Net profit | Equity | |||||
| increase | decrease | increase | decrease | increase | decrease | increase | decrease | |
| PLN | 9 | (53) | (387) | 396 | (51) | 13 | (580) | 592 |
| EUR | 49 | (67) | (65) | 55 | 20 | (42) | (151) | 166 |
| USD | 19 | (27) | (49) | 47 | (19) | 10 | (70) | 83 |
| GBP | 9 | (16) | (1) | 1 | 6 | (12) | (3) | 4 |
| Total | 86 | (163) | (502) | 499 | (44) | (31) | (804) | 845 |
| 31 December 2023 | 31 December 2024 | |||||||
|---|---|---|---|---|---|---|---|---|
| Net profit | Equity | Net profit | Equity | |||||
| increase | decrease | increase | decrease | increase | decrease | increase | decrease | |
| PLN | 3 | (4) | 1 183 | (1 481) | 5 | (7) | 1 157 | (1 452) |
| EUR | (1) | 1 | 65 | (77) | (1) | 1 | 77 | (91) |
| USD | – | (1) | (2) | 2 | – | – | (2) | 2 |
| GBP | – | – | 5 | (6) | – | – | 8 | (9) |
| other | – | – | 3 | (6) | (1) | – | 3 | (4) |
| Total | 2 | (4) | 1 254 | (1 568) | 3 | (6) | 1 243 | (1 554) |
The table below presents the contractual level of sensitivity of net interest income (NII) to a 100 bps change in interest rates and sensitivity of the economic value of equity (EVE) of PZU Group’s ban s to a 200 bps change in interest rates.
Equity risk
The table below presents the sensitivity test of PZU Group’s portfolio of quoted equity instruments for which the PZU Group bears the risk.
| Sensitivity analysis of foreign exchange risk | 31 December 2023 | 31 December 2024 | ||||||
|---|---|---|---|---|---|---|---|---|
| Net profit | Equity | Net profit | Equity | |||||
| increase | decrease | increase | decrease | increase | decrease | increase | decrease | |
| Equity instruments | 105 | (105) | 163 | (163) | 152 | (152) | 176 | (176) |
Foreign exchange risk
The following tables present a sensitivity analysis of foreign exchange risk for portfolios of financial instruments and of assets and liabilities under insurance and reinsurance contracts.
| Sensitivity analysis of foreign exchange risk | 31 December 2023 | 31 December 2024 | ||||||
|---|---|---|---|---|---|---|---|---|
| Net profit | Equity | Net profit | Equity | |||||
| increase | decrease | increase | decrease | increase | decrease | increase | decrease | |
| EUR – change of 20% | ||||||||
| Assets and liabilities under insurance and reinsurance contracts | (105) | 105 | (534) | 534 | (122) | 122 | (583) | 583 |
| Financial instruments | 110 | (59) | 757 | (706) | (245) | 251 | 726 | (720) |
| GBP – change of 20% | ||||||||
| Assets and liabilities under insurance and reinsurance contracts | (43) | 43 | (40) | 40 | (62) | 62 | (58) | 58 |
| Financial instruments | (80) | 80 | 4 | (4) | (87) | 87 | 47 | (47) |
| USD – change of 20% | ||||||||
| Assets and liabilities under insurance and reinsurance contracts | (6) | 6 | (6) | 6 | (4) | 4 | (4) | 4 |
| Financial instruments | (255) | 257 | 24 | (22) | (338) | 341 | (16) | 19 |
| Other – change of 20% | ||||||||
| Assets and liabilities under insurance and reinsurance contracts | (4) | 4 | (62) | 62 | (11) | 11 | (66) | 66 |
| Financial instruments | 61 | (65) | 61 | (65) | 92 | (75) | 92 | (75) |