PKO Bank Polski press office
PKO Bank Polski press office
PKO Bank Polski is stepping up the pace. ‘Number one and fullstop’ is the motto of the Group's new strategy for 2025-2027, which aims to strengthen its position as the undisputed leader in banking.
About Bank
October 23, 2024

PKO Bank Polski is stepping up the pace. ‘Number one and fullstop’ is the motto of the Group's new strategy for 2025-2027, which aims to strengthen its position as the undisputed leader in banking.

Over the next three years, the bank capital group's main strategic objective is to consolidate its position as the financial group number one in Poland, focused on growth and development. PKO Bank Polski Capital Group will use all its competitive advantages resulting from its position as the largest and strongest banking group in Poland. The strategy is based on 7 business pillars which, together with the strength of the brand and the complementarity of the services provided by the entire Capital Group, will enable the Group to achieve its ambitious business goals. At the same time, the strategic priority is to increase the efficiency and effectiveness of the Capital Group's operations. The financial targets stated in the strategy include an ROE above 18% by 2027, assuming an NBP reference rate of 3.5% in 2027, a cost efficiency ratio C/I below 35%, cost of risk in the range of 0.7-0.9 (CoR). The bank also wants to maintain its ability to make regular dividend payments and share buybacks.

Strong growth in retail business, investments in new products and taking advantage of favourable market conditions resulted in a consolidated profit of PLN 4,4 billion. PKO Bank Polski has reported very good results and summarised its activities in the first half of this year.
Financial results
August 21, 2024

Strong growth in retail business, investments in new products and taking advantage of favourable market conditions resulted in a consolidated profit of PLN 4,4 billion. PKO Bank Polski has reported very good results and summarised its activities in the first half of this year.

In the first half of 2024, the PKO Bank Polski Group capitalised on favourable market conditions, generating a ROE of 19,0 per cent and an interest margin of 4,48 per cent while maintaining cost efficiency. The C/I ratio improved further to 30,5 per cent.

12 million clients and 2 billion zlotys of net profit. PKO Bank Polski announces its results for Q1 2024
Financial results
May 8, 2024

12 million clients and 2 billion zlotys of net profit. PKO Bank Polski announces its results for Q1 2024

PKO Bank Polski Group has been steadily increasing its business volume. As of March 31st, its assets reached PLN 497 billion (+11,9 per cent year-on-year). Financing provided to clients – which already amount to 12 million – increased by 8,5 per cent to 276 billion zlotys and acquired savings by 16,2 per cent, amounting to 547 billion zlotys. Core business income increased by 21,8 per cent in Q1 2024. Net interest income continued to grow by 24 per cent year-on-year, thanks in part to a further improvement in the interest margin to 4,56 per cent. Net fee and commission income recorded an increase of 15,8 per cent year-on-year. The Bank demonstrated excellent operational efficiency. The cost/income (C/I) ratio was 31,8 per cent in Q1 2024. PKO Bank Polski Group's net profit in Q1 2024 amounted to 2 billion PLN, despite a significant charge to the result for the legal risk of the Swiss franc mortgage loans in the amount of 1,3 billion PLN (without provision, the result would have been 3,3 billion PLN). The first quarter profitability, measured by return on equity (ROE) was 17,7 per cent (25,6 per cent – excluding extraordinary events). The Bank has continued its digital transformation, developing new features for the IKO app, among other things. The number of active IKO apps at the end of Q1 2024 reached 8 million. The number of IKO transactions increased by 25 per cent year-on-year in Q1 and amounted to 239 million. The Bank also steadily increased the share of remote channels and bots in sales and customer service. The number of calls made by bots in Q1 reached 6,7 million

New members of the Management Board of PKO Bank Polski
About Bank
April 14, 2024

New members of the Management Board of PKO Bank Polski

The Supervisory Board of PKO Bank Polski has supplemented the composition of the Management Board of the Bank for a new three – year term. Marek Radzikowski and Mariusz Zarzycki were appointed as Vice presidents of the Management Board as of 22 April 2024. This is a result of the ongoing open qualification procedure, for the positions of President and Vice-Presidents of the Management Board announced on 14 February 2024.

PKO Bank Polski with a new Management Board for a new term
About Bank
March 26, 2024

PKO Bank Polski with a new Management Board for a new term

The Supervisory Board of PKO Bank Polski has appointed a new Management Board. Szymon Midera will be appointed as the President of the Management Board of PKO Bank Polski, subject to the approval of the Financial Supervision Authority.

PKO Bank Polski has reported its results for 2023
Financial results
March 6, 2024

PKO Bank Polski has reported its results for 2023

PKO Bank Polski Group's net profit in 2023 exceeded PLN 5,5 billion. The Bank recorded almost 19 proc. increase in its comparable income from core business, achieved by increases in both interest income and net fee and commission income. PKO Bank Polski Group expanded its scale of operations in a dynamic external environment. Its assets grew to PLN 502 billion, and the number of customers reached 11,9 million. Funding provided to customers increased by 8,5 proc. to PLN 269 billion, and savings went up by 19,6 proc., reaching PLN 542 billion. The Bank showed strong cost efficiency. The reported cost/income (C/I) ratio was 31,6 proc.

PKO Bank Polski is financing the medical industry
About Bank
January 8, 2024

PKO Bank Polski is financing the medical industry

PKO Bank Polski is one of the financial institutions that have signed a financing agreement with a total value of approximately PLN 1.6 billion with the American Heart of Poland Group, which specializes in the treatment of lifestyle diseases, in particular cardiovascular diseases. PKO Bank Polski's share in the consortium amounts to PLN 250 million. The loan under the Sustainability-Linked Loan (SLL) formula is part of PKO Bank Polski's strategy to support the green transformation, and will be allocated to achieve the investment and acquisition targets of the American Heart of Poland Group.

PKO Bank Polski joins the Partnership for Carbon Accounting Financials (PCAF)
Promotions and CSR
December 17, 2023

PKO Bank Polski joins the Partnership for Carbon Accounting Financials (PCAF)

PKO Bank Polski is intensifying its work on the decarbonisation of its loan portfolio and, in accordance with the PCAF methodology, continues on the path to climate neutrality. Using the PCAF standards will enable the calculation of Scope 3 emissions i.e. the carbon footprint of the bank's loan portfolio, in line with the highest standards. The use of the PCAF methodology will strengthen PKO Bank Polski's aspirations to become a leader in ESG transformation in the Polish banking sector.

PLN 4,8 billion profit after Q3 2023. PKO Bank Polski presented record results
Financial results
November 8, 2023

PLN 4,8 billion profit after Q3 2023. PKO Bank Polski presented record results

PKO Bank Polski Group's net profit after three quarters of 2023 exceeded PLN 4,8 billion, representing an increase of PLN 3,2 billion compared with the corresponding period of 2022. Profitability in the first three quarters of the year, measured by return on equity (ROE), was 16 percent. The bank's profit in the third quarter amounted to PLN 2,78 billion. The Group steadily increased its scale of operations. Its assets increased by 7,7 percent y/y and reached PLN 473 billion. Funding granted to customers increased by 5,2 percent to PLN 260 billion, and savings acquired by 12,4 percent, reaching PLN 508 billion. In the third quarter of 2023, the bank reported record growth in new mortgage and consumer loan sales. Total growth in this category reached 66,5 percent y/y, which was largely driven by the launch of the Bezpieczny Kredyt 2% (subsides mortgage). The Bank also recorded solid double-digit growth in corporate financing, which reached 11,6 percent y/y. Core operating income grew by 51,8 percent y/y and interest income growth reached 80,3 percent. On a comparable basis - excluding one-off events from the third quarter of 2022 - core income growth was 18,6 percent y/y and interest income increased by 26,1 percent, thanks to a further improvement in the interest margin to 4,33 percent. Net fee and commission income remained stable y/y thanks to growth in income from banking activities offsetting lower income from funds and brokerage activities. The bank exhibited high-cost efficiency. The cost/income (C/I) ratio amounted to 30,9 percent in Q3 2023, despite visible price pressure on operating cost dynamics. PKO Bank Polski continued to implement its programme supporting the purchase of the first apartment in the third quarter. By 30 September 2023, the bank had received 30 thousand applications for the Bezpieczny Kredyt 2% (subsides mortgage). More than 6 thousand loan agreements were concluded, and the average amount of the loan applied for was PLN 414 thousand. The Bank continued its digital transformation, developing new features of the IKO application and the offer of value-added services under the VAS HUB technology. The number of active IKO applications after three quarters of 2023 exceeded 7,7 million.