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THE MOST VALUABLE POLISH COMPANY LISTED ON THE WARSAW STOCK EXCHANGE

The value of the Bank’s shares at the end of 2018 was almost PLN 50 billion.

Bank PKO BP
Annual Report
2018

2018 – ONE OF THE BEST IN THE HUNDRED-YEAR HISTORY OF THE BANK

The consolidated net profit of the Group exceeded PLN 3.7 million and was over 20% higher year on year.

Bank PKO BP
Annual Report
2018

THE LARGEST CUSTOMER BASE AMONG POLISH BANKS

We set the standards of customer service, products and services offered and technological innovations.

Bank PKO BP
Annual Report
2018

BEST MOBILE BANKING IN THE WORLD

As at the end of 2018 the number of activations exceeded 3.1 million.

Bank PKO BP
Annual Report
2018

AMONG THE MOST RESILIENT BANKS IN EUROPE

This is confirmed by the results of the consecutive edition of European stress tests carried out by the European Banking Authority.

Bank PKO BP
Annual Report
2018

We are on the path of fulfillment of the Strategy for 2016-2020:

„WE SUPPORT THE GROWTH OF POLAND AND THE POLES”

Results for 2018 showed, that the Bank fulfilled the strategic financial goals 2 years in advance.

Podpis

Zbigniew Jagiełło
President of the Management Board of PKO Bank Polski

 

Letter of CEO

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KEY RESULTS

22.2%
of the individual's investment fund market
28.9%
share in the sales market of housing loans for individuals

TFI assets - funds of individuals

Loans

Housing loans

Mortgage loans (sales)

Deposits

Deposits for individuals

20.5%
increase of net profit year-on-year
9.9%
increase in deposits year-on-year

Net profit

Total assets

Financing granted to Customers

Total equity

Amounts due to customers

44.2%
Cost-to-income ratio
18.88%
total capital ratio

C/I

Net interest margin

Net ROE

Cost of risk

Total capital ratio

47.6%
increase of active IKO apps
12.0%
increase in number of customers with access to iPKO Biznes

Number of active IKO applications (in millions)

Number of retai segment Customers with access to iPKO (in millions)

Number of Customers with access to iPKO Biznes

Number of branches

17.1%
increase in the sales of housing loans
15.5%
increase of Customer savings

Number of Customers (in millions)

Gross loans (in PLN billion)

Sales of housing loans (in PLN billion)

Customer savings (in PLN billion)

Value of managed IF assets of individuals (in PLN billion)

10.9%
increase of gross financing
12.2%
increase in corporate deposits

Number of Customers (in thousands)

Gross financing (in PLN billion)

Corporate deposits (in PLN billion)

Share of Dom Maklerski PKO Banku Polskiego SA in turnover on the secondary market of shares

100 lat decyzji

PKO BANK POLSKI:
100 YEARS OF
BOLD DECISIONS

We are entering the second century as a modern, universal bank, the largest in Poland and the region, and at the same time the most valuable company on the Warsaw Stock Exchange, appreciated at home and abroad. Although the current scale of the Bank's operation could impress our founders, our mission, invariably for 100 years, is to support the development of Poland and Poles. We use innovative technologies to meet the current challenges to build an eco-system of modern services far beyond traditional banking. This is our task for the next decades – said Zbigniew Jagiełło, President of PKO Bank Polski.

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Founding decree

By a decree signed on February 7, 1919, Pocztowa Kasa Oszczędności was established. During the first 20 years of existence, it became the largest savings institution in Poland, and the PKO abbreviation - a symbol of saving.

SKO

The PKO introduced a children's financial saving program with educational background.

Establishment of Powszechna Kasa Oszczędności

In 1950, Pocztowa Kasa Oszczędności was transformed into Powszechna Kasa Oszczędności and saving deposits were covered by a State guarantee.

Bank's logo

In 1969, Karol Śliwka designed the PKO logo which is one of the most recognizable graphic sings in the country.

ROR - savings and settlement account for natural persons

In 1974, Powszechna Kasa Oszczędności introduced a modern product: a current account for natural persons.

Electronic Banking

In 1999, PKO introduced banking services that initiated the creation of the iPKO website.

Stock exchange debut

In 2004, PKO Bank Polski SA’s made its debut on the Warsaw Stock Exchange– at the end of the first day of quotations, shares reached a price of PLN 24.50 against the issue price fixed at PLN 20.50.

IKO and BLIK

In 2013, PKO Bank Polski SA set a new standard of mobile payments – IKO – transformed in 2015 into the BLIK payment system. The payment system was developed together with partner banks and the Polish Clearing House and became the Polish market standard.

Foreign expansion

In 2015, Establishing the first foreign branch of the Bank (in Frankfurt-am-Main). In 2017, the second corporate branch was opened - in Prague.

IKO application

IKO was the winner in the ranking of mobile applications among 100 banks from around the world.

HOW WE CREATE
VALUE?

A modern organization effectively manages internal resources as well as capital located in its environment.

Social capital Human capital Intellectual capital Natural capital Manufactured capital Financial capital Bank’s business model Our priorities Our outlook activities and products Strategy 2016-2020 The most resilient bank in Europe Best mobile banking in the world The value of the Bank’s shares: almost PLN 50 billion. The agile working methodology

Human capital

The employment and remuneration policy at the Bank and the Bank’s Group is maintained so as to enable professional development to each employee by ensuring the same rights and conditions of non-discrimination.

  • Over 281 ths employees
  • Women: 75.%
  • Master degree: 74%
  • The Code of Ethics

Social capital

  • Strong brand of PKO Bank Polski SA
  • Reputation of the Bank with the 100-year history
  • Sponsorship budget
  • Charity budget – the PKO Bank Polski Foundation
  • Active relationship with all the stakeholders

Financial capital

  • Assets: PLN 324 bn (Bank)
  • Equity: PLN 39 bn

Intellectual capital

  • integrated model of development of the Group
  • policies, procedures
  • Strategy 2016-2020
  • IT resources
  • Ability to develop innovative products

Natural capital

  • Resources of fuel, gas, electricity, water, paper

Manufactured capital

  • 14 direct subsidiaries
  • 1083 branches
  • 577 agencies
  • 3133 ATMs

Expanding the business model

  • Expanding the Bank’s offer by motor insurance available to Customers in the Bank’s branches and agencies as well as through the Customer Call Centre; Starting sales of OC with Zielona Karta (liability insurance valid abroad), Autocasco (all risks insurance), NNW (accident insurance) and Assistance insurance;
  • Establishing an investment fund, PKO VC (venture capital), which will invest in start-ups and fintechs. The Fund will search for companies in which the majority of interest should be acquired to include them in the Group’s structures, and will acquire minority interests.

Our strategy

The PKO Bank Polski SA Group achieved its strategic financial goals under the 2016–2020 Strategy two years in advance, already in 2018:

  • it achieved return on equity (ROE) above 10%;
  • it reduced the cost to income ratio (C/I) to below 45%;
  • it maintained the cost of risk in the 75–85 b.p. bracket;
  • it effectively and rationally managed capital adequacy so as to ensure that TCR and Tier1 ratios exceed the regulatory and supervisory requirements, and at the same time enable the distribution of dividend.

Our activities

  • Loans and advances,
  • Investment securities,
  • Financial instruments,
  • Amounts due from banks,
  • Other services

Outlook

Key drivers of ROE ratio indicated by experts:

  • Persisting good economic situation
  • Internal activities of the Bank aimed at cost optimization
  • Managing risk proifle of assets
  • Increase of NIM

Our priorities

  • Customer experience,
  • Optimization of capital management,
  • Increase in cost efficiency and organizational efficiency,
  • Regulatory and cyber security,
  • Digital transformation

The most resilient bank in Europe

The stress tests conducted by the European Banking Authority have demonstrated that we are the most resilient among the 48 largest banks in Europe.

Best mobile banking in the world

The IKO mobile application was ranked first in the ranking of banking applications of the British financial monthly Retail Banker International. Only PKO Bank Polski SA qualified for the ranking from Poland and its mobile application IKO won first place in the world and received an overall rating of 4.8/5 based on ratings from 150 thousand people. IKO outperformed the solutions of global banking giants such as Bank of America, UBS, Lloyds and Barclays.

The ranking includes mobile applications of the 100 largest banks in the world. They were ranked based on the average ratings of users of smartphones with Android and iOS systems.

The value of the Bank’s shares

After one hundred years of growth PKO Bank Polski is the most valuable company listed on the Warsaw Stock Exchange.

  • Company capitalization: PLN 50 bn

Working methodology

Projects are conducted to develop both hard and soft skills.A team of several dozen internal trainers conducts group training, on-the-job training and internal workshops.Group training is held by external companies in selected projects.The Bank’s employees also actively use the internal e-learning platform, including on training regarding product knowledge, as well as knowledge of processes and use of IT applications.Academies and Programmes dedicated to specific groups of employees and organizational units are launched as part of the strategic initiatives.In 2018, as a result of the Digital Transformation, a number of development activities were made available to the employees participating in the process, mainly in the area of agile methodology.

INNOVATION LEADER

Innowacja 1

The most advanced mobile banking system in the world – IKO app

Total number of 3.1 million active applications at the end of 2018

Innowacja 2

Implementation of the blockchain technology

Confirming the authenticity and constancy of documents sent via mail.

Innowacja 3

PKO Bank Polski - a shareholder of the National Cloud Operator (Operator Chmury Krajowej)

Acceleration of the digitization of the Polish economy and enterprises

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