1. Activities of the Group
Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (PKO Bank Polski S.A. or the Bank) was established by virtue of a decree signed on 7 February 1919 by the Head of State Józef Piłsudski, Prime Minister Ignacy Paderewski and Hubert Linde, post and telegraph minister and simultaneously the first president, as Pocztowa Kasa Oszczędnościowa. In 1950, the Bank began operating as Powszechna Kasa Oszczędności Bank Państwowy (state- owned bank). Pursuant to the Decree of the Council of Ministers dated 18 January 2000, Powszechna Kasa Oszczędności (a state-owned bank) was transformed into a state owned joint-stock company, Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna.
On 12 April 2000, Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna was registered and entered into the Commercial Register maintained by the District Court for the City of Warsaw, Commercial Court, 16th Registration Department. At present, the court with jurisdiction over the Bank’s affairs is the District Court in Warsaw, 13th Commercial Division of the National Court Register. The Bank was registered under the number KRS 0000026438 and was assigned the statistical number REGON 016298263.
| Country of registration | Poland |
|---|---|
| Registered office | Warsaw |
| Address of the registered office of the entity | Puławska street 15, 02-515 Warszawa |
According to the Bulletin of the Warsaw Stock Exchange (Ceduła Giełdowa), the Bank is classified under the macro- sector ‘‘Finance’’, in the ‘‘Banks’’ sector.
The Powszechna Kasa Oszczędnościowa Bank Polski Spółka Akcyjna Group (“the PKO Bank Polski S.A. Group”, “the Bank’s Group”, “the Group”) conducts its operations within the territory of the Republic of Poland and through subsidiaries in Ukraine, Sweden and Ireland; it also has branches in the Federal Republic of Germany (“the German Branch”), the Czech Republic (“the Czech Branch”) and in the Slovak Republic (“the Slovak Branch”).
PKO Bank Polski S.A., as the parent company, is a universal deposit and credit bank which services both Polish and foreign individuals, legal and other entities. The Bank may hold and trade in cash in foreign currencies, as well as conduct foreign exchange and foreign currency transactions, open and maintain bank accounts in banks abroad, and deposit foreign currency in those accounts.
Through its subsidiaries, the Group offers mortgage loans, provides specialized financial services related to leases, factoring, debt collection, investment funds, pension funds and insurance, as well as provides services related to car fleet management, transfer agent, technological solutions, IT outsourcing and business support, real estate management and also conducts banking operations and provides debt collection and financing services in Ukraine.
In 2022 and 2021, the Bank did not change the name of the reporting unit or other identification data.
The PKO Bank Polski S.A. Group consists of the following subsidiaries:
| Lp. | ENTITY NAME | REGISTERED | ACTIVITY | % OWNERSHIP INTEREST | |
|---|---|---|---|---|---|
| INDIRECT SUBSIDIARIES | 31.12.2022 | 31.12.2021 | |||
| 1 | PKO Bank Hipoteczny S.A. | Warsaw | banking activities | 100 | 100 |
| 2 | PKO Towarzystwo Funduszy Inwestycyjnych S.A. | Warsaw | investment fund management | 100 | 100 |
| 3 | PKO Leasing S.A. | Łódź | leases and loans | 100 | 100 |
| 4 | PKO BP BANKOWY PTE S.A. | Warsaw | pension fund management | 100 | 100 |
| 5 | PKO BP Finat sp. z o.o. | Warsaw | services, including, transfer agent services and outsourcing of IT specialists | 100 | 100 |
| 6 | PKO Życie Towarzystwo Ubezpieczeń S.A. | Warsaw | life insurance | 100 | 100 |
| 7 | PKO Towarzystwo Ubezpieczeń S.A. | Warsaw | other personal insurance and property insurance | 100 | 100 |
| 8 | PKO Finance AB | Sollentuna, Sweden | financial services | 100 | 100 |
| 9 | KREDOBANK S.A. | Lviv, Ukraine | banking activities | 100 | 100 |
| 10 | Merkury – fiz an1 | Warsaw | 100 | 100 | |
| 11 | NEPTUN – fizan1 | Warsaw | investing funds collected from fund participants | 100 | 100 |
| 12 | PKO VC – fizan1 | Warsaw | 100 | 100 | |
| Lp. | ENTITY NAME | REGISTERED | ACTIVITY | OWNERSHIP INTEREST (%)* | |
|---|---|---|---|---|---|
| INDIRECT SUBSIDIARIES | 31.12.2022 | 31.12.2021 | |||
| 1 | PKO Leasing S.A. GROUP | 100 | 100 | ||
| PKO Agencja Ubezpieczeniowa sp. z o.o. | Warsaw | intermediation in concluding insurance agreements | |||
| 1.1 | PKO Leasing Finanse sp. z o.o. | Warsaw | sale of post-lease assets | 100 | 100 |
| 2 | PKO Leasing Sverige AB | Stockholm, Sweden | leasing | 100 | 100 |
| 3 | Prime Car Management S.A. | Gdańsk | leasing, fleet management | 100 | 100 |
| 3.1 | Futura Leasing S.A. | Gdańsk | leasing and sales of post- lease assets | 100 | 100 |
| 3.2 | Masterlease sp. z o.o. | Gdańsk | leasing | 100 | 100 |
| 3.3 | MasterRent24 sp. z o.o. | Gdańsk | short-term lease of cars | 100 | 100 |
| 4 | PKO Faktoring S.A. | Warsaw | factoring | 100 | 100 |
| ROOF Poland Leasing 2014 DAC1 | Dublin, Ireland | SPV established for securitization of lease receivables | – | – | |
| 5 | Polish Lease Prime 1 DAC2 | Dublin, Ireland | – | – | |
| 6 | GRUPA PKO Życie Towarzystwo Ubezpieczeń S.A | 100 | 100 | ||
| Ubezpieczeniowe Usługi Finansowe sp. z o.o. | Warsaw | services | |||
| GRUPA KREDOBANK S.A. | |||||
| 7 | „KREDOLEASING” sp. z o.o. | Lviv, Ukraine | in organization | 100 | 100 |
| Merkury – fiz an | |||||
| 8 | „Zarząd Majątkiem Górczewska” sp. z o.o. | Warsaw | property management | 100 | 100 |
| 9 | Molina sp. z o.o. | Warsaw | general partner in partnerships limited by shares of a fund | 100 | 100 |
| 10 | Molina spółka z ograniczoną odpowiedzialnością 1 S.K.A. | Warsaw | buying and selling real estate on own account, real estate management | 100 | 100 |
| 11 | Molina spółka z ograniczoną odpowiedzialnością 2 S.K.A.3 | Warsaw | 100 | 100 | |
| 12 | Molina spółka z ograniczoną odpowiedzialnością 4 S.K.A.3 | Warsaw | 100 | 100 | |
| Molina spółka z ograniczoną odpowiedzialnością 5 S.K.A. w likwidacji4 | Warsaw | – | 100 | ||
| 13 | Molina spółka z ograniczoną odpowiedzialnością 6 S.K.A. w likwidacji | Warsaw | 100 | 100 | |
| NEPTUN – fizan | |||||
| 14 | Qualia sp. z o.o. | Warsaw | after-sale services in respect of developer products | 100 | 100 |
| 15 | Sarnia Dolina sp. z o.o. | Warsaw | development activities | 100 | 100 |
| 16 | Bankowe Towarzystwo Kapitałowe S.A. | Warsaw | services | 100 | 100 |
| 16.1 | „Inter-Risk Ukraina” spółka z dodatkową odpowiedzialnością5 | Lviv, Ukraine | debt collection | 99.90 | 99.90 |
| 16.2 | Finansowa Kompania „Prywatne Inwestycje” sp.z o.o.6 | Kiev, Ukraine | financial services | 95.4676 | 95.4676 |
| 16.2.1 | Finansowa Kompania „Idea Kapitał” sp. z o.o. | Lviv, Ukraine | services | 100 | 100 |
| 17 | „Sopot Zdrój” sp. z o.o. | Sopot | property management | 72.9769 | 72.9766 |
1 In June 2022, the Company was deleted from the Irish register of companies and thus ceased to be part of the PKO Bank Polski S.A. Group. As at 31 December 2021, in accordance with IFRS 10, PKO Leasing S.A. exercised control over the Company, although it did not have an equity share in it
2 In accordance with IFRS 10, PKO Leasing S.A. exercises control over the company, although it does not have a capital share In it.
3The company’s Extraordinary General Shareholders’ Meeting resolved to put the company into liquidation as of 1 December 2022 – the change had not been entered in the National Court Register by 31 December 2022.
4The company’s liquidation was completed in July 2022 and the company was deleted from the National Court Register.
5Finansowa Kompania “Prywatne Inwestycje” sp. z o.o. is the second shareholder of the company.
6“Inter-Risk Ukraina” – a company with additional liability – is the second shareholder of the company.
The Group has the following associates and joint ventures:
| Lp. | ENTITY NAME | REGISTERED | ACTIVITY | OWNERSHIP INTEREST (%)* | |
| 31.12.2022 | 31.12.2021 | ||||
| Joint ventures of PKO Bank Polski S.A. | |||||
| 1 | Operator Chmury Krajowej sp. z o.o. | Warsaw | cloud computing services | 50 | 50 |
| 2 | Centrum Elektronicznych Usług Płatniczych eService sp. z o.o. | Warsaw | financial services support, including handling transactions concluded using payment instruments | 34 | 34 |
| 1 EVO Payments International s.r.o. | Prague, the Czech Republic | financial services support activities | 100 | 100 | |
| Joint venture NEPTUN – fizan | |||||
| 2 „Centrum Obsługi Biznesu” sp. z o.o. | Poznań | property management | 41.45 | 41.45 | |
| Wspólne przedsięwzięcie PKO VC – fizan | |||||
| 3 BSafer sp. z o.o. | Stalowa Wola | managing marketing consents | 35.06 | 35.06 | |
| Associates of PKO Bank Polski S.A. | |||||
| 1 | Bank Pocztowy S.A. | Bydgoszcz | banking activities | 25.0001 | 25.0001 |
| 2 | „Poznański Fundusz Poręczeń Kredytowych” sp. z o.o. | Poznań | guarantees | 33.33 | 33.33 |
| 3 | System Ochrony Banków Komercyjnych S.A. | Warsaw | manager of the security system referred to in Article 130e of the Banking Law | 21.11 | – |