Organisation of the pko bank polski sa group

As at 31 December 2014, the PKO Bank Polski SA Group consisted of the Bank (the parent company) and 46 direct and indirect subsidiaries.

Entities included in the financial statements

The consolidated financial data includes PKO Bank Polski SA – the parent company of the PKO Bank Polski SA Group and its subsidiaries as defined in IAS 27 ‘Consolidated and separate financial statements’.

Entities comprising the PKO Bank Polski SA Group

No.	Entity name	Head office	Business activity	Share in the share capital	Consolidation method
				(%)	Consolidation method
				Parent company
				1.		Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna
				Direct subsidiaries
				2.		PKO Towarzystwo Funduszy Inwestycyjnych SA	Warsaw	investment fund management	100	full method
3.	PKO BP BANKOWY PTE SA	Warsaw	pension fund management	100	full method
4.	PKO Leasing SA	Łódź	leasing services	100	full method
5.	Bankowe Towarzystwo Kapitałowe SA	Warsaw	services	100	full method
6.	PKO BP Finat Sp. z o.o.	Warsaw	services, including services supporting fund magagement	100	full method
7.	PKO Życie Towarzystwo Ubezpieczeń SA	Warsaw	life insurance	100	full method
8.	PKO Bank Hipoteczny SA	Gdynia	banking activities	100	full method
9.	KREDOBANK SA	Lviv, Ukraine	banking activities	995.655	full method
10.	Finansowa Kompania ‘Prywatne Inwestycje’ Sp. z o.o. ¹	Kiev, Ukraine	factoring	954.676	full method
11.	‘Inter-Risk Ukraina’ Additional Liability Company	Kiev, Ukraine	debt collection services	100	full method
12.	PKO Finance AB	Stockholm, Sweden	financial services	100	full method
13.	‘CENTRUM HAFFNERA’ Sp. z o.o.	Sopot	subsidiaries’ real estate management	729.766	full method
14.	Qualia Development Sp. z o.o.²	Warsaw	real estate development	100	full method
15.	Merkury – fiz an ³	Warsaw	placements of funds collected from fund members	100	full method
Subsidiaries of PKO Leasing SA
16.	PKO Bankowy Leasing Sp. z o.o.	Łódź	leasing services	100	full method
17.	PKO Leasing Sverige AB	Stockholm, Sweden	leasing services	100	full method
Subsidiary of Bankowe Towarzystwo Kapitałowe SA
18.	PKO BP Faktoring SA⁴	Warsaw	factoring	999.889	full method
Subsidiary of PKO Życie Towarzystwo Ubezpieczeń SA
19.	Ubezpieczeniowe Usługi Finansowe Sp. z o.o.	Warsaw	services	100	full method
Subsidiary of KREDOBANK SA
20.	Finansowa Kompania ‘Idea Kapitał’ Sp. z o.o.	Lviv, Ukraine	financial services	100	full method
Subsidiaries of Qualia Development Sp. z o.o. ⁵
21.	Qualia Sp. z o.o.	Warsaw	general partner in limited parterships of the QDE Group entities	100		full method
22.	Qualia spółka z ograniczoną odpowiedzialnością - Neptun Park Sp. k.	Warsaw	real estate development	999.975		full method
23.	Qualia spółka z ograniczoną odpowiedzialnością - Sopot Sp. k.	Warsaw	real estate development	999.811		full method
24.	Qualia spółka z ograniczoną odpowiedzialnością - Jurata Sp. k.	Warsaw	real estate development	999.770		full method
25.	Qualia spółka z ograniczoną odpowiedzialnością - Nowy Wilanów Sp. k.	Warsaw	real estate development	999.750		full method
26.	Qualia spółka z ograniczoną odpowiedzialnością - Zakopane Sp. k.	Warsaw	real estate development	999.123		full method
27.	Qualia spółka z ograniczoną odpowiedzialnością - Pomeranka Sp. k.	Warsaw	real estate development	998.951		full method
28.	Qualia spółka z ograniczoną odpowiedzialnością - Projekt 1 Sp. k.	Warsaw	real estate development	50		full method
29.	Qualia spółka z ograniczoną odpowiedzialnością - Władysławowo Sp. k.	Warsaw	real estate development	50		full method
30.	Qualia Hotel Management Sp. z o.o.	Warsaw	real estate development	100		full method
31.	Qualia - Residence Sp. z o.o.	Warsaw	real estate development	100		full method
32.	Qualia - Rezydencja Flotylla Sp. z o.o.	Warsaw	real estate development	100		full method
33.	‘Fort Mokotów Inwestycje’ Sp. z o.o.	Warsaw	real estate development	100		full method
34.	Sarnia Dolina Sp. z o.o.	Warsaw	real estate development	100		full method
35.	Giełda Nieruchomości Wartościowych Sp. z o.o.	Warsaw	intermediation in the sale of real estate	100		full method
36.	‘Fort Mokotów’ Sp. z o.o. in liquidation	Warsaw	in liquidation	51		full method
Subsidiaries of ‘CENTRUM HAFFNERA’ Sp. z o.o.
37.	‘Sopot Zdrój’ Sp. z o.o.	Sopot	real estate management	100		full method
38.	‘Promenada Sopocka’ Sp. z o.o.	Sopot	rental services and real estate management	100		full method
39.	‘Centrum Majkowskiego’ Sp. z o.o. in liquidation	Sopot	in liquidation	100		full method
Subsidiaries of Merkury – fiz an
40.	‘Zarząd Majątkiem Górczewska’ Sp. z o.o.	Warsaw	real estate management	100		full method
41.	Molina Sp. z o.o.	Warsaw	general partner in limited joint-stock partnership entities of the Fund	100		full method
42.	Molina spółka z ograniczoną odpowiedzialnością 1 S.K.A.	Warsaw	purchase and sale of real estate on own account, real estate management	100		full method
43.	Molina spółka z ograniczoną odpowiedzialnością 2 S.K.A.	Warsaw	purchase and sale of real estate on own account, real estate management	100		full method
44.	Molina spółka z ograniczoną odpowiedzialnością 3 S.K.A.	Warsaw	purchase and sale of real estate on own account, real estate management	100		full method
45.	Molina spółka z ograniczoną odpowiedzialnością 4 S.K.A.	Warsaw	purchase and sale of real estate on own account, real estate management	100		full method
46.	Molina spółka z ograniczoną odpowiedzialnością 5 S.K.A.	Warsaw	purchase and sale of real estate on own account, real estate management	100		full method
47.	Molina spółka z ograniczoną odpowiedzialnością 6 S.K.A.	Warsaw	purchase and sale of real estate on own account, real estate management	100		full method

The second shareholder of the Company is ‘Inter-Risk Ukraina’ Additional Liability Company.
In the financial statements the Company is recognised as non-current assets held for sale.
The Fund was included in this statement as PKO Bank Polski SA owes investment certificates in the above mentioned Fund, which allows, according to IFRS, to exercise control over the Fund; share of owned Fund’s investment certificates is presented within share in share capital item.
The second shareholder of the Company is PKO Bank Polski SA.
In limited partnerships of the Qualia Development Group in the position of share in the capital, the total contributions made by the limited partner – Qualia Development Sp. z o.o. is presented

entities_comprising_the_pko_bank_polski_sa_gro.xlsx

Other subordinated entities included in the consolidated financial statements

No.	Entity name	Head office	Business activity	The share in the share capital	Consolidation method
No.	Entity name	Head office	Business activity	(%)	Consolidation method
Joint ventures
1.	Centrum Elektronicznych Usług Płatniczych eService Sp. z o.o.	Warsaw	activities supporting financial services, including servicing of transactions made using payment instruments	34.00	equity method
2.	"Centrum Obsługi Biznesu” Sp. z o.o.	Poznań	hotel management	41.44	equity method
Associates
3.	Bank Pocztowy SA	Bydgoszcz	banking activities	25.0001	equity method
4.	"Poznański Fundusz Poręczeń Kredytowych” Sp. z o.o.	Poznań	guarantees	33.33	equity method
Subsidiaries of Bank Pocztowy SA
5.	Centrum Operacyjne Sp. z o.o.	Bydgoszcz	activities supporting financial services	100	equity method
6.	Spółka Dystrybucyjna Banku Pocztowego Sp. z o.o.	Warsaw	intermediary financial services	100	equity method

other_subordinated_entities_included_in_the_consolidated_financial_statements.xlsx