Business characteristics

The Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna Group (PKO Bank Polski S.A. Group or the Bank’s Group) is one of the largest groups of financial institutions in Poland and one of the largest financial groups in Central and Eastern Europe.

The Parent of the Bank’s Group is Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (PKO Bank Polski S.A. or the Bank). PKO Bank Polski S.A. is the largest commercial bank in Poland and the leading bank on its home market in terms of the scale of operations, equity, loans, deposits, number of Customers and size of the distribution network.

Annual Report

[102-2] PKO Bank Polski S.A. is a universal bank that services individuals, legal entities and other Polish and foreign entities. Apart from strictly banking operations, the PKO Bank Polski S.A. Group also provides services in respect of leases, factoring, investment funds, pension funds and insurance, car fleet management services, transfer agent services, provides technological solutions, outsources IT professionals and supports other entities’ operations, manages properties. The Bank’s Group conducts banking operations and provides financial services outside Poland through its branches in the Federal Republic of Germany (German Branch), the Czech Republic (Czech Branch) and the Slovak Republic (Slovak Branch).as well as through its subsidiaries in Ukraine. [102-3] The Bank’s head office is located in Warsaw. [102-4], [102-6] The Bank’s Group operates in the territory of the Republic of Poland. Moreover, through its subsidiaries it operates in the territory of Ukraine, Sweden and Ireland. It also operates through branches in the Federal Republic of Germany, the Czech Republic and the Slovak Republic. [102-5] The Bank is a joint-stock company entered into the National Court Register under number KRS 0000026438. The Bank has been listed on the Warsaw Stock Exchange (WSE) since 2004. The significant shareholders holding more than 5% of the share capital are the State Treasury and the open pension funds Aviva and Nationale Nederlanden. [102-7] The Bank offers its services through a network of 975 own locations (branches, offices, centres) and 447 agencies in Poland to 11 million retail Customers and 17 thousand corporate Customers. [102-8] The Bank’s Group provides jobs to 25.7 thousand people.

[102-9] The Bank’s Group cooperates with business partners as a buyer of goods and services and a client for agency and outsourcing services. As part of its charitable and sponsorship activities, it cooperates with various public benefit organizations.

[102-13] The Bank is a member of many organizations, both industrial and regional (e.g. the Polish Bank Association (Związek Banków Polskich), NATO Industry Cyber Partnership, The Institute of International Finance) and many business organizations, such as chambers of commerce and business associations (e.g. the Polish Association of Listed Companies (Stowarzyszenie Emitentów Giełdowych), the Association of Entrepreneurs and Employers (Związek Przedsiębiorców i Pracodawców), the Federation of Polish Entrepreneurs (Federacja Przedsiębiorców Polskich)).

Bank's customers
active IKO apps
own outlets

The PKO Bank Polski S.A. Group develops not only in its traditional area of operations, i.e. retail banking. It is also the leader in servicing corporate Customers and companies and enterprises (in particular in respect of financing them), and on the market of financial services for communes (gminy), counties (powiaty), voivodeships and to the budget sector. It is also the major managing underwriter of issues of municipal bonds.

The PKO Bank Polski S.A. Group has the largest share in the Polish banking sector (19.2%), in loans (17.4%) and the market for investment funds for individuals (19.2%). PKO Bank Polski S.A. is the leader in terms of current accounts and payment cards.

The PKO Bank Polski S.A. Group offers modern and comprehensive services via its digital service channels. Customers use iPKO and IKO as means of modern banking, which extends outside the traditional financial area. PKO Bank Polski S.A. was involved in the development of a modern approach to the e-administration services based on cutting edge technologies. Since 2018, PKO Bank Polski S.A., in cooperation with Operator Chmury Krajowej S.A. has consistently followed its “path towards the cloud”. As a result of such actions, over the coming years, the key business IT systems in the Bank are to operate in a computing cloud based on hybrid architecture. The first cloud solutions implemented using global cloud service providers and Operator Chmury Krajowej sp. z o.o. have already supported the Bank’s employees and Customers.

As at the end of 2021 the branch network of PKO Bank Polski S.A. was the largest such network in Poland, and covered 975 own outlets (including branches, offices and centres) and 447 agencies. The Customers of PKO Bank Polski S.A. have at their disposal a highly developed network of ATMs (nearly 3 thousand devices as at the end of 2021).

The PKO Bank Polski S.A. Group is one of the largest and best assessed employers in Poland. As at the end of 2021 the PKO Bank Polski S.A. Group employed over 25.7 thousand FTEs.

Who we are – our mission

We support the development of Poland and the Poles”. For 100 years we have been delivering financial solutions to our Customers; therefore, we understand the needs of Poles and Polish firms. We are consistently changing, investing in development, and we responsibly implement modern technologies to enable easy finance management at any place or time. We are proud of our history and of our Polish roots. We wish to continue exerting a positive influence on Poland – its people, firms, culture and the environment. As one of the largest banks in Central and Eastern Europe we responsibly care for the interests of the shareholders, Customers, employees, and local communities.


The PKO Bank Polski S.A. Group has been offering services to its retail and institutional Customers for more than 100 years.

  • Pocztowa Kasa Oszczędności was established on 7 February 1919 by virtue of a decree signed by the Head of the country, Józef Piłsudski, Prime Minister Ignacy Paderewski and Hubert Linde – PKO’s founder and first president.
  • Pocztowa Kasa Oszczędności was vested with legal personality as a state institution, operating under the supervision of and with the guarantee of the State.
  • The first local branch of Pocztowa Kasa Oszczędności was opened in Poznań.
  • Pocztowa Kasa Oszczędności began running School Savings Unions (Szkolne Kasy Oszczędności).
  • On the initiative of Pocztowa Kasa Oszczędności, the Ministry of the Treasury decided to set up Bank Polska Kasa Opieki (today Pekao S.A.) as a joint-stock company to facilitate the transfer of foreign currencies to Poland by Poles living abroad.
  • Pocztowa Kasa Oszczędności strongly contributed to the development of non-cash transactions – every other larger industrial plant and every large enterprise had a cheque account with Pocztowa Kasa Oszczędności, and the cheque turnover in Poland was one and a half times higher than the cash turnover.

Lata wojny były okresem ogromnych strat i przestoju w działalności Pocztowej Kasy OszczędnościThe Second World War was a period in which Pocztowa Kasa Oszczędności’s activity came to a standstill and it suffered huge losses.

  • Pocztowa Kasa Oszczędności was transformed into Powszechna Kasa Oszczędności.
  • The Banking Law Act introduced a privilege for saving deposits held in Powszechna Kasa Oszczędności; they were covered by a State guarantee.
  • Powszechna Kasa Oszczędności introduced a modern product: a current account.
  • In the years 1975–1987, Powszechna Kasa Oszczędności was merged into the structures of the National Bank of Poland (NBP), yet it retained its identity.
  • The first Internet information portal of the Bank and the first e-PKO Internet branch were launched.
  • PKO Towarzystwo Funduszy Inwestycyjnych S.A. (PKO TFI S.A.) began its operations.
  • PKO BP BANKOWY PTE S.A. was formed.
  • Bankowy Fundusz Leasingowy S.A. (currently PKO Leasing S.A.) was formed which provides operating and finance leases of non-current assets and property.
  • PKO BP, as one of the founders, formed Centrum Elektronicznych Usług Płatniczych eService S.A. (currently CEUP eService sp. z o.o.).
  • In 2000, the Bank was transformed into a joint-stock company fully-owned by the State Treasury under the name Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (PKO Bank Polski S.A.).
  • The Bank acquired Inteligo Financial Services S.A., a company that provides services covering the maintenance and development of banking systems, also including electronic access to bank accounts (Inteligo account).
  • The Bank acquired 66.65% shares in KREDOBANK S.A. The company is registered and operates in Ukraine. At present, the Bank holds 100% of shares in the company’s share capital.
  • In 2004, PKO Bank Polski S.A. was floated on the WSE. 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.
  • PKO BP Faktoring S.A. (currently PKO Faktoring S.A.) began operating.
  • Strategia na lata 2013-2015 „PKO Bank Polski. Codziennie najlepszy” umocniła pozycję Grupy Kapitałowej Banku jako lidera w kluczowych segmentach rynku.
  • W 2013 roku PKO Bank Polski S.A. wyznaczył nowy standard płatności mobilnych – IKO. Innowacyjne rozwiązanie na rynku płatności mobilnych zostało wykorzystane do stworzenia w 2015 roku systemu płatności BLIK. BLIK stał się standardem na rynku polskim.
  • PKO Bank Polski S.A. podpisał umowę, która dotyczyła 20-letniego aliansu strategicznego na rynku płatności elektronicznych z EVO Payments International Acquisition GmbH i jednocześnie sprzedał znaczącą część udziałów w spółce CEUP eService sp. z o.o.
  • Utworzony został PKO Bank Hipoteczny S.A. Jego działalność obejmuje emisję długoterminowych listów zastawnych oraz udzielanie długoterminowych kredytów hipotecznych dla Klientów detalicznych.
  • PKO Bank Polski S.A. nabył akcje spółek z Grupy Nordea, w tym akcje Nordea Bank Polska S.A., a także portfel wierzytelności Klientów korporacyjnych. W październiku 2014 roku nastąpiło połączenie banków.
  • Została utworzona spółka PKO Towarzystwo Ubezpieczeń S.A. Spółka świadczy usługi ubezpieczeń majątkowych dla Klientów indywidualnych PKO Banku Polskiego S.A.
  • PKO Bank Polski S.A. rozpoczął ekspansję na rynki zagraniczne i utworzył pierwszy oddział za granicą (w Republice Federalnej Niemiec we Frankfurcie nad Menem).2013–2015 strategy: “PKO Bank Polski. Every day the best” strengthened the position of the Bank’s Group as a leader in key market segments.
  • In 2013, PKO Bank Polski S.A. set a new standard of mobile payments – IKO. The innovative solution on the market of mobile payments was used to create the BLIK payment system in 2015. BLIK became the Polish market standard.
  • PKO Bank Polski S.A. signed an agreement for a twenty-year strategic alliance in the electronic payment market with EVO Payments International Acquisition GmbH, and at the same time sold a significant portion of shares in CEUP eService sp. z o.o.
  • PKO Bank Hipoteczny S.A. was formed. Its operations include issuing long-term mortgage covered bonds and granting long-term mortgage loans to retail Customers.
  • PKO Bank Polski S.A. acquired shares in the Nordea Group companies, including shares in Nordea Bank Polska S.A., and a portfolio of amounts due from corporate Customers. In October 2014, the merger of the banks was carried out.
  • PKO Towarzystwo Ubezpieczeń S.A. was formed. The Company provides property insurance services to the retail Customers of PKO Bank Polski S.A.
  • PKO Bank Polski S.A. started its expansion into foreign markets and established its first foreign branch abroad (in Frankfurt-am-Main in the Federal Republic of Germany).
  • PKO Bank Polski S.A. realized two years in advance the financial goals set for 2020 and announced an updated strategy for the years 2020–2022 “PKO Bank of the Future. We support the development of Poland and the Poles”.
  • PKO Leasing S.A. – the Bank’s subsidiary – acquired Raiffeisen-Leasing Polska S.A. and Prime Car Management S.A. (with their subsidiaries). This allowed PKO Leasing S.A. to strengthen its position on the lease market, as well as to extend its offer of car fleet management services and rental of cars.
  • The Bank’s Group acquired KBC TFI S.A. and the merger with PKO TFI S.A. helped additionally accelerate the rapid development of PKO TFI S.A., and strengthened its leading position in the retail funds segment.
  • The Bank’s portfolio of investment projects expanded by Operator Chmury Krajowej sp. z o.o. (cloud computing services), which was joined by another shareholder – Polski Fundusz Rozwoju S.A.
  • PKO Bank Polski S.A. established an investment fund managed by PKO TFI S.A. under the business name PKO VC, which pursues an appropriate policy for a venture capital funds and invests in financial technological innovations.
  • PKO Bank Polski S.A. continued its development abroad and established a corporate department in Prague (the Czech Republic) and in Bratislava (the Slovak Republic). The branch in Bratislava started its operating activities in March 2021.
  • According to the Inteliace Research report, PKO Bank Polski S.A. was the largest bank in the CEE region in terms of assets in 2020.

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