Financial results

Financial results

March 12, 2025

Ahead of the market. The PKO Bank Polski Group presents its results for 2024.

· For the PKO Bank Polski Group, 2024 was a period of very dynamic growth and development, publication of the new strategy for 2025-2027 ‘Number 1 and Full Stop’, and, above all, following the needs of its clients. · The Group systematically increased its scale of operations and market share in the retail and corporate areas. Its assets increased to 525 billion PLN and the number of bank clients increased to 12.1 million. Financing granted to clients increased by 9.6 percent to 294 billion PLN, and savings obtained increased by 11.4 percent, reaching 604 billion PLN. · The bank recorded a significant acceleration in the area of corporate loans in the fourth quarter and continued double-digit growth in retail loans. The market share in the area of consumer loans increased to 19.41 percent and in the area of mortgage loans to almost 26 percent. · The bank achieved a 19.6 percent increase in income from core activities and demonstrated high cost efficiency. The cost-to-income ratio (C/I) reached an all-time high of 29.5 percent. The Group's net profit exceeded PLN 9.3 billion and profitability measured by return on equity (ROE) reached 19.2 percent. In 2024, PKO Bank Polski advanced to the TOP 3 most recommended Polish banks in the NPS ranking. The bank's services are recommended by both individual clients and clients from the enterprise and corporate segment. · The company's market capitalisation amounted to PLN 74.7 billion at the end of 2024, which means an annual increase of about 19 percent.

Financial results

November 6, 2024

PKO Bank Polski has reported another good quarter. The results are a solid basis for the implementation of the growth strategy ‘Number 1 and full stop’.

• PKO Bank Polski, the largest bank in Poland, increased its total assets to PLN 512 billion (+8.2% year-on-year) and the number of customers to 12.1 million at the end of September 2024. • The PKO Bank Polski Capital Group reports another good quarter of business and financial results. At the end of September 2024, the Group generated PLN 6.9 billion in consolidated net profit. This is over PLN 2 billion (+42.2%) more than in the same period of the previous year. Excluding non-recurring events in the form of provisions for legal risk on CHF loans and the effect of loan holidays, the net result after three quarters of this year would amount to over PLN 10 billion. • Net profit rose thanks to a 21.5% year-on-year increase in profit from core business activities. This effect was driven by, among other things: -good credit dynamics in the retail segment, -growth in net fee and commission income (thanks to high transaction activity in insurance, Brokerage, and TFI, which exceeded PLN 50 billion in assets under management), -cost discipline (thanks to which the C/I ratio decreased to 29.7%). • The Bank expanded its innovative product offering with the Digital Mortgage - the first fully digital mortgage process in Poland. One of the first customers obtained a credit decision within one hour. • In the corporate business, the Bank is preparing for a wave of investments in 2025 and 2026. • PKO Bank Polski in November 2024 will celebrate the 20th anniversary of its listing on the Warsaw Stock Exchange. It is currently the undisputed number 1 listed company with a capitalisation of PLN 74 billion*.

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.

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

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.

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.

Financial results

August 23, 2023

PLN 2 billion in profit at high cost of legal risk - PKO Bank Polski presented its results for the first half of 2023

PKO Bank Polski Group's net profit in the first half of 2023 exceeded PLN 2 billion, despite a significant burden on the result from the cost of legal risk of mortgages denominated in the Swiss franc. Profitability in the first half of the year, as measured by return on equity (ROE), amounted to 10,6 percent. The Group systematically increased the scale of its operations. Its assets have increased by 7,3 percent y/y to reach PLN 461 billion. Financing provided to customers increased by 3,7 percent to PLN 255 billion, and savings raised by 15,4 percent, reaching PLN 491 billion. In H1 2023, the bank recorded strong double-digit financing growth in the corporate sector, which reached 14,6 percent y/y. Total sales of housing and consumer loans increased by more than 29 percent. Income from the core operations increased by 20,6 percent. Net interest income continued to grow by 29,3 percent y/y, thanks in part to a further improvement of interest margin during the first half of the year to 4,31 percent, while 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. Bank had very good cost efficiency. The cost-to-income (C/I) ratio amounted to 32,9 percent in H1 2023. The Bank has continued its digital transformation, developing new features in IKO mobile app and offer of value-added service through VAS HUB technology. The number of active IKO applications at the end of H1 2023 exceeded 7,6 million. The bank also introduced new facilities in the children's application PKO Junior. PKO Bank Polski has actively joined in the implementation of the programme supporting the purchase of the first apartment. The bank's customers can take advantage of both the Bezpieczny Kredyt 2% (subsides mortgage) and set up special housing accounts under the programme.

Financial results

May 17, 2023

Robust Beginning of the Year: PKO Bank Polski Presents Its Results for 1Q 2023

The net profit of the PKO Bank Polski Group in the first quarter of 2023 approximated PLN 1,5 billion, while profitability measured by ROE reached the level of 15,7 percent during the quarter.

Financial results

March 9, 2023

PKO Bank Polski summarizes the financial results for 2022

The net profit of the PKO Bank Polski group in 2022 amounted to over PLN 3,3 billion, and the profitability measured by return on equity (ROE) reached the level of 9.7 percent. In the year burdened with the effects of the war in Ukraine and increased inflation, extraordinary items had a key impact on the financial results of PKO Bank Polski. In a complicated external environment, the Group increased the scale of its operations. Its assets amounted to PLN 431 billion, the number of customers increased to 11,7 million, and the increase in income from core activities amounted to 17,5 percent. The bank showed high cost effectiveness. The reported cost-to-income ratio (C/I) amounted to 45,3 percent. In 2022, the Bank continued its digital transformation by introducing new functions in the IKO banking mobile app and dynamically increasing the share of remote channels and bots in customer service. The number of active IKO applications at the end of 2022 reached the level of 7,2 million.