Customer savings in the retail segment (in PLN billion)
The Bank’s Group encourages Customers to save over a long term, both through a varied product offer constantly adapted to Customers’ requirements (including regular saving products, term deposits, investment products of PKO Towarzystwo Funduszy Inwestycyjnych SA and Treasury bonds) and through educational and information activity.
As at the end of 2018 savings in the retail segment amounted to PLN 234 billion and increased by PLN 25.6 billion (i.e. 12%) since the beginning of the year. The increase in funds accumulated in investment funds by individuals, retail savings bonds and an increase in retail and private banking deposits contributed to this increase.
Current and savings accounts
In 2018, PKO Bank Polski SA remained the unchallenged market leader in terms of the number of current accounts maintained, which exceeded 7.4 million as at 31 December 2018 and increased by 314 thousand during the year.
The continually growing number of accounts of individuals is the effect of a diversified offer which accounts for the Customers’ preferences, and includes the following products:
- Basic Payment Account (available to individuals aged more than 13, no fees are charged on the maintenance of the account or on servicing the respective debit card);
- PKO Konto bez Granic (which offers a number of attractive services, including withdrawals from ATMs in Poland and anywhere in the world for a single fee);
- PKO Konto na Zero –(an account and card for PLN 0 if actively used);
- Aurum and Platinium II account (dedicated to Private Banking Customers).
The Bank leaves a transaction service and a mobile application at the disposal of each account holder, which enable access to the account at any time of the day or night, the possibility of paying by BLIK, card, or by telephone.
For individual Customers, SMES, and Inteligo Customers, instantaneous transfers are available through the Express Elixir system (this includes transfers to the Social Insurance Institute – ZUS). Those transfers operate 24 hours a day, 7 days a week, throughout the year.
The Bank’s offer for young people is a diversified, modern and competitive range of products, which comprises among other things:
- saving books for children as part of Szkolna Kasa Oszczędnościowa (SKO) for primary school pupils;
- PKO Konto Dziecka (designated for children up to 13 years of age, with the internet banking service, the mobile application PKO Junior and payment cards);
- PKO Konto Pierwsze (an account for persons aged 13–18 with an IKO mobile application);
- PKO Konto dla Młodych (a fully internet and mobile account for persons aged 16–18).
PKO Bank Polski SA offers two packages to Customers from the firms and enterprises sector who are interested in comprehensive, modern and attractively priced services:
- PKO Konto Firmowe – to individuals running a business, freelancers and farmers who appreciate that the finances of their firms are handled using modern electronic banking services and through an individual advisor at the Bank’s branch.
- PKO Rachunek dla Biznesu – created for entrepreneurs who are looking for an offer ideally tailored to their needs and who value a relationship with an individual bank advisor. To holders of the PKO Rachunek dla Biznesu account, the Bank offers access to advanced internet banking iPKO Biznes and to all cash-management services, low transaction costs for transactions realized via the Internet and many more modern banking products and services, including the cheapest SEPA online transfers on the market and access to simple currency exchange via the free iPKO dealer platform.
To all institutional Customers with settlement accounts the Bank offers a new product available since 2018 – a VAT split payment account.
Number of current accounts (in millions)
Term deposits and regular saving products
The most popular term deposits in the Bank’s offer for retail and private banking Customers in 2018 were:
- term deposit saving account available in 1M, 3M, 6M or 12M tenors; The product is offered in all distribution channels: in branches, agencies, iPKO, IKO, Inteligo and via the Contact Center;
- the 3M term deposit for new funds;
- the Lokata Niepodległościowa deposit bearing an interest rate of 1.918%, which referred to the centenary of Poland’s regaining independence.
The Bank’s offer also includes structured instruments. In 2018 the Bank carried out a subscription of structured deposits, such as:
- 18-month structured term deposits based on the EUR/PLN exchange rate (12 subscriptions);
- 36-month structured term deposits based on the basket of shares of the following types of companies: German, European, telecommunications, pharmaceutical and cosmetics, energy, Asian;
- 25-month term structured deposits based on shares of the following types of companies: electronics, French, transport, European, global.
PKO Bank Polski SA provides its Customers with a wide offer of investment funds which give access to various classes of assets and allows investing in debt or equity instruments from various geographical areas, using many types of strategies.
The Bank’s Group offers 55 funds for individuals to the Customers of retail and private banking, in which assets amounting to PLN 33.5 billion have been accumulated.
In response to Customers’ expectations, and also to comply with the requirements of the new MiFID II regulations, as of the beginning of 2018 the offer of the Bank’s Group was expanded by a new opened-ended umbrella fund PKO Portfela Inwestycyjnego with separate subfunds of various risk levels: PKO Bursztynowy, PKO Szafirowy, PKO Rubinowy, PKO Szmaragdowy and PKO Diamentowy.
Value of managed IF assets of individuals (in PLN billion)
Sales of Treasury savings bonds
Based on an agreement concluded with the Minister of Finance PKO Bank Polski SA has exclusive rights to sell and service retail bonds issued by the State Treasury. Treasury bonds are sold through the sales network of PKO Bank Polski SA, which is of great convenience for all those who are interested.
In 2018 the Treasury savings bonds were extremely popular and in effect throughout the year PLN 12.7 billion of those bonds were sold. In 2017 sales of those bonds amounted to nearly PLN 6.9 billion).
Currently on the primary market five types of savings Treasury bonds are being sold under a permanent offer:
- three-month (OTS) – three-month fixed-rate Treasury bonds;
- two-year (DOS) – two-year fixed-rate savings Treasury bonds;
- three-year (TOZ) – three-year fluctuating-rate savings Treasury bonds;
- four-year (COI) – four-year indexed savings Treasury bonds;
- ten-year (EDO) – ten-year pension savings Treasury bonds.
and, exclusively to beneficiaries of the 500+ Program:
- six-year (ROS) – family savings Treasury bonds;
- twelve-year (ROD) – twelve-year family savings Treasury bonds.
Indebtedness from Treasury bonds issued on the domestic market (in PLN)*
*nominal value of savings bonds;
source: Dom Maklerski PKO Banku Polskiego SA.