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Activities of other entities of the PKO Bank Polski SA Group

Among strict banking activity the PKO Bank Polski SA Group provides specialist financial services relating to leasing, factoring, investment funds, pension funds and life insurance and debt collection services and support in the conduct of business, as well as real estate development and management of real estate.

General information on the selected PKO Bank Polski SA Group entities:

PKO Towarzystwo Funduszy Inwestycyjnych SA

Value of investment fund assets (in PLN billion)

  1. In 2014, the Company recorded a net profit in the amount of PLN 51.1 million (in 2013, the Company’s net profit amounted to PLN 35.0 million).
  2. The asset value of the funds managed by the Company amounted to PLN 16.95 billion as at the end of 2014, which represents the increase in the assets by 17.8% comparing to the end of 2013. An increase of the assets value was associated mainly with positive balance on net sales and result due to asset management.
  3. PKO Towarzystwo Funduszy Inwestycyjnych SA ranks 4th place in terms of the net asset value with 8.1% share in the investment funds market and second place with 13.9% share in nondedicated funds managed.
  4. As at 31 December 2014, the Company managed 40 investment funds and subfunds.

    * Source: Chamber of Fund and Asset Management


PKO BP BANKOWY PTE SA

The net assets value of PKO BP Bankowy OFE (in PLN billion)*

  1. In 2014, PKO BP BANKOWY PTE SA recorded a net profit in the amount ofPLN 17.5 million (in 2013, the Company’s net profit amounted to PLN 14.4 million). 
  2. As at the end of December 2014, the net assets value of PKO BP Bankowy OFE managed by PKO BP BANKOWY PTE SA amounted to PLN 6.6 billion, which is a decrease of 49.6% in comparison to the end of 2013. The decrease results from the redemption of 51.5% of owned assets in February 2014 - in accordance with the Act, PKO BP Bankowy OFE transferred to the Social Insurance Institution assets in the form of bonds issued by the State Treasury. 
  3. As at the end of December 2014, PKO BP Bankowy OFE had approximately 950 thousand members.
  4. PKO BP Bankowy OFE holds the ninth place on the pension funds market regarding the OPF’s net assets value and the ninth place regarding the number of members. 
  5. According to the ranking of the Polish Financial Supervision Authority, PKO BP Bankowy OFE for the period from 30 September 2011 to 30 September 2014 reached a rate of return at the level of 33.215% (the weighted average rate of return of 31.993%) holding thereby 3rd place in the ranking of OPFs for that period.

    * Source: www.knf.gov.pl

Number of PKO BP Bankowy OFE's members (in thousand )*


The PKO Życie Towarzystwo Ubezpieczeń SA Group

Number of insured (in thousand)

  1. In April 2014, a new company - Nordea Polska Towarzystwo Ubezpieczeń na Życie SA (currently, after changing the name: PKO Życie Towarzystwo Ubezpieczeń SA), which main activity is the provision of life insurances and its subsidiary - Nordea Usługi Finansowe Sp. z o.o. (currently, after changing the name: Ubezpieczeniowe Usługi Finansowe Sp. z o.o.), which provides supporting services for insurance activity, became a part of the Group.
  2. In 2014 the Group incurred a net loss in the amount of PLN 25.7 million. 
  3. PKO Życie Towarzystwo Ubezpieczeń SA offers protection products and saving-investment products. As part of the investment products, the Company offers a wide range of Insurance Capital Funds in which customers can invest their savings. The investment offer includes 186 domestic and foreign Insurance Capital Funds, of which 6 model portfolios and 9 Insurance Capital Funds developed by experts from PKO TFI SA.
  4. The value of gross written premiums under insurance agreements, concluded by the Company as at the end of 2014, amounted to PLN 851 million. 
  5. As at the end of December 2014, the Company insured 333 thousand people.


The PKO Leasing SA Group (formerly named: the Bankowy Fundusz Leasingowy SA Group)

Value of assets under lease (in PLN billion)

  1. The merger of PKO Leasing Pro SA (formely Nordea Finance Polska SA) and PKO Leasing SA occurred on 30 September 2014, as a result of which all the assets of PKO Leasing Pro SA (all assets and equity and liabilities, excluding statement of financial position items related to factoring activity taken over by PKO BP Faktoring SA) was transferred to PKO Leasing SA. Presented data include this merger.
  2. In 2014 the PKO Leasing SA Group generated result on business activities in the amount of PLN 174.5 million (compared to PLN 142.3 million in 2013).
  3. In 2014, the Group entities leased out assets with a total value of PLN 2.7 billion, i.e. an increase of 7% compared with 2013. The increase is a result of the Bank's sales network utilisation, own distribution growth and merger with PKO Leasing Pro SA.
  4. At the end of December 2014, in terms of the value of assets leased, the PKO Leasing Group ranked 5th position on the leasing services market with 6.4% market share*.
  5. The total carrying amount of the lease investments of the PKO Leasing Group entities amounted to PLN 4.7 billion as at the end of December 2014.

    * Source: Polish Leasing Association

PKO BP Faktoring SA

Factoring turnover value of the subsidiary (in PLN billion)

  1. In 2014 PKO BP Faktoring SA (an indirect subsidiary of the Bank) generated a net profit in the amount of PLN 2.9 million (in 2013, the Company’s net profit amounted to PLN 2.2 million).
  2. In 2014 PKO BP Faktoring SA was providing domestic and export factoring services, both with and without the acceptance of risk, reverse factoring and a service of the factoring programme for suppliers.
  3. In 2014, the value of factoring turnover amounted to PLN 3.0 billion (in the corresponding period of 2013 this value was PLN 2.8 billion) and the number of customers increased to 200.
  4. As at the end of December 2014 PKO BP Faktoring SA ranked ninth place among factoring companies associated in the Polish Factors’ Association, with a market share of 2.7%.

The KREDOBANK SA Group (data according to IFRS/IAS)

The gross loan portfolio (in UAH million)

  1. As at the end of December 2014, the KREDOBANK SA Group incurred a net loss in the amount of UAH 321 million (PLN 84.7 million). In 2013, the net loss of KREDOBANK SA Group amounted to UAH 322 million (PLN 125.2 million).
  2. In 2014, the KREDOBANK SA Group’s loan portfolio (gross) increased by UAH 996 million, i.e. by 36.9% and amounted to UAH 3 694 million as at 31 December 2014; the gross loan portfolio as denominated in PLN decreased by PLN 170 million, i.e. by 17.0% and amounted to PLN 830 million as at the end of 2014. The increase in the value of loan portfolio in UAH is the result of the growth of value in UAH loans denominated in foreign currencies and the sale of new loans.
  3. In 2014, term deposits of the KREDOBANK SA Group clients increased by UAH 27 million, i.e. by 1.5% and amounted to UAH 1 889 million as at the end of 2014; term deposits as denominated in PLN decreased by PLN 266 million, i.e. by 38.5% and amounted to PLN 424 million as at the end of the year.
  4. As at 31 December 2014 the network of KREDOBANK SA branches consisted of the Central Branch in Lviv and 110 subordinated branches in 22 out of 24 Ukrainian districts. In 2014 the location of 6 subordinated branches was changed and 20 subordinated branches, including 6 in the Autonomous Republic of the Crimea were closed. As at the end of 2014 KREDOBANK SA did not have any branches in the Crimea.

The Qualia Development Sp. z o.o. Group

Sale of apartments - number of contracts signed

  1. In 2014, the Group incurred a net loss in the amount of PLN 16.4 million (in 2013, the Group’s net loss amounted to PLN 49.7 million).
  2. In 2014, the Group's activities were focused on:
  • conducting conceptual work and administrative procedures to obtain zoning for the project Żwirki i Wigury Street in Warsaw and for properties owned by PKO Bank Polski SA located in Warsaw at Nowogrodzka Street and Sienkiewicza Street,
  • conducting the sale of apartments in the realised investments (mainly relates to the project Nowy Wilanów in Warsaw and the project Neptun Park in Gdańsk Jelitkowo),
  • preparation and starting of the projects in Nowy Wilanów in the fourth quarter of 2014 (Royal Park stage)

PKO BP Finat Sp. z o.o.

  1. The core business of Company is the provision of support services in respect of carrying out activities and services supporting funds management. The Company offers in particular transfer agent services, maintaining the books of accounts, top-up services, body leasing, personnel and payroll services and IT services.
  2. The merger of Inteligo Financial Services SA with PKO BP Finat Sp. z o.o. occurred on 28 November 2014. In connection with the above mentioned merger PKO Bank Polski SA has acquired the employees and the resources of Inteligo Financial Services SA, related mainly to IT services provided for the Bank, whereas the employees and the resources regarding business areas and business support together with the management of implementation projects in respect of provided services were transferred to PKO BP Finat Sp. z o.o.
  3. In 2014 PKO BP Finat Sp. z o.o. generated the net profit in the amount of PLN 5.1 million, moreover the net profit of acquired Company – Inteligo Financial Services SA amounting to PLN 11.4 million was recognised in the Company’s equity.

Finansowa Kompania ‘Prywatne Inwestycje’ Sp. z o.o.

  1. Finansowa Kompania ‘Prywatne Inwestycje’ Sp. z o.o. provides factoring services and together with ‘Inter-Risk Ukraina’ Additional Liability Company debt collection of liabilities portfolio purchased from KREDOBANK SA.
  2. During 2014 the company incurred net loss amounting to UAH 481 million (PLN 126.7 million). In 2013, Company’s net loss amounted to UAH 199 million (PLN 77.4 million).