Segments of activity

The PKO Bank Polski S.A. Group conducts business activities in segments adapted in terms of products and services to specific groups of Customers. The manner in which the business segments are divided is consistent with the sales management model and a comprehensive product mix. Currently, the Bank’s Group conducts its business activities in the retail segment as well as in the corporate and investment segments.
Annual Report

The Group operates its business through two segments:

The retail segment offers a full range of banking products and services to individuals and as part of retail and private banking, and mortgage banking. Furthermore, it also comprises transactions with companies and enterprises, developers, co-operatives and real estate managers. The products and services offered in this segment include, among other things: current accounts, savings accounts, term deposits, private banking services, investment and investment-linked insurance products, credit and debit cards, electronic and mobile banking services, consumer and housing loans, business loans and leases, and factoring.

11,1 million
Number of Customers
183 billion
Financing granted
354 billion
Savings volume

The corporate and investment segment includes transactions with corporate Customers, local government authorities and financial institutions. Products and services of the segment comprise transactional banking (including operation accounts), deposit products and other products, loan-related products to finance current and investment needs (including lease and factoring). This segment also comprises brokerage activities and internal activities, i.e. managing the Bank’s liquidity and investment activities.

17.0 thous.
Number of Customers
74 billion
Financing granted
63 billion
Deposits volume

Retail segment

The offer of the PKO Bank Polski S.A. Group for individuals covers a wide range of credit, deposit and insurance products, as well as electronic banking services.

In 2021 in the retail segment the PKO Bank Polski S.A. Group built strong and long-term relations with Customers and supported them during the pandemic, among other things by making available a maximum number of processes remotely. It focused on developing tools and access channels to enable Customers to easily manage their finances from any place and at any time.

Individuals can take advantage of consumer loans in the form of cash advances, mortgage loans, revolving loans, credit cards and housing loans. Investment and investor loans, revolving loans, leases and factoring are available to companies and enterprises.

The deposit and investment offer comprises, among other things, regular saving products, term deposits, investment products of PKO TFI S.A., and Treasury savings bonds.

The Bank Group’s offer provides insurance services, both those related and not linked directly to bank products, to all Customers in the retail segment. Insurance linked to Bank products is offered to Customers in connection with, among other things, consumer loans and mortgage loans, checking accounts and bank cards. The offer of insurance independent of Bank products includes, among other things, life insurance, insurance of real estate, travel, motor and the OnkoPlan oncological insurance policy, and insurance of leased assets.

As at the end of 2021 the Retail Segment serviced more than 11.1 million Customers, including:

  • more than 10.5 million individuals; including 15.4 thousand Private Banking Customers;
  • more than 0.5 million companies and enterprises.

Since the beginning of 2021 the number of Customers serviced in the retail segment increased by more than 114 thousand.

As at the end of 2021:

  • total financing for Retail segment Customers exceeded PLN 183 billion and increased during 2021 by more than PLN 6.5 billion (i.e. 3.7%). This was mainly due to the growth of the portfolio of mortgage banking loans (+ PLN 3.2 billion), and retail and private banking loans (PLN +1.9 billion). In 2021, financing of companies and enterprises also increased (+PLN 1.4 billion);
  • retail savings amounted to nearly PLN 354 billion and went up by PLN 41.8 billion (i.e. 13.4%) in 2021. An increase in retail and private banking deposits (of PLN 18.0 billion), and Treasury savings bonds (of PLN 14.4 billion) were the main contributing factors.

* taking into account insurance product liabilities

The Bank’s Group reinforced its position as market leader in terms of the number of checking accounts maintained (ROR). This number amounted to almost 8.5 million and went up by nearly 234 thousand during the year. It covers all active accounts, which constitutes growth potential for further cooperation with Customers.

In 2021, the Bank’s Group sold more than 433 million Treasury savings bonds (i.e. nearly 53% more than in 2020), and the debt in respect of the Treasury savings bonds issued to the domestic market amounted (at nominal value) to more than PLN 54 billion and was 36% higher than at the end of 2020.

* number of all active accounts with a potential for growth of cooperation with the Customer

* nominal value of savings bonds; source: Brokerage Office of PKO Bank Polski S.A.

In 2021, the PKO Bank Polski S.A. Group:

  • with regard to housing loans:
    • granted loans to individuals for a record total of nearly PLN 16.6 billion, which allowed it to maintain top position on the market with a share of 19.8% throughout 2021;
    • enabled financing of up to 90% of the real estate value;
    • extended the offer of a “green mortgage” by two further years; based on delivering an energy performance certificate to the Bank for the property constituting collateral for the loan Customers may be charged a lower margin;
    • extended the offer to support borrowers with CHF mortgage loans until 31 December 2021 to limit the negative effects following from the changes in the exchange rate of CHF;
    • and on 4 October 2021, the Bank launched a programme of amicable settlements for Swiss franc borrowers.
  • with regard to consumer loans:
    • it noted an increase of almost 1/3 on sales of consumer loans, rebuilding its portfolio in this loan category after the drop in 2020;
    • it implemented on-line authorization methods for 3D Secure 2.1 card transactions,
    • it implemented issuing credit cards to the Bank’s Customers based on the information on assets in other banks;

* source: ZBP, sale of PKO Bank Polski S.A. and PKO Bank Hipoteczny S.A.

  • with respect to supporting operations and financing of companies and enterprises:
    • implemented the option to remotely sign loan contracts secured with the BGK de minimis guarantees and annexes to these contracts;
    • made available BGK de minimis guaranteed in electronic form; all de minimis aid certificates are generated in the form of electronic documents and sent to the email address of the borrower;
    • made available current account overdrafts up to PLN 500,000 with individualized maximum reference ratio; the new solution introduces the option to hedge against interest rate increases;
  • with respect to the transactions and savings offer:
    • implemented a new process for remote opening of a checking account (ROR) – the Customer concludes an online contract, and a courier arrives at the Customer’s premises with a document to be signed;
    • introduced the possibility of concluding an agreement for opening and maintaining an account in the Bank’s branches by signing on a touch screen;
    • introduced quick transfers (30-minute) from Poland to Ukraine to an account with KREDOBANK S.A. on condition that the transfer is made from an account with PKO Bank Polski S.A.; in December 2021 more than 1,700 transfers were made for a total of PLN 2.1 million;
  • with respect to service standards:
    • implemented the voice of a bot on the PKO TFI S.A. helpline to service participants in products like IKE, IKZE under the distributed Pension Packages.

Corporate and investment segment

The PKO Bank Polski S.A. Group consistently tightens cooperation with the largest corporations, central and local government entities and foreign Customers, and expands its scope based on the range of products offered.

The Bank’s Group participates in financing strategic investment projects and local government projects. The financing takes the form of syndicated loans and bilateral loans, or the issue of securities.

The PKO Bank Polski S.A. Group offers wide access to funds to finance investment projects and advisory services focused on selecting the optimum form of funding and repayment terms to its Customers.

The Bank maintains securities accounts for Customers and facilitates Polish and foreign market transactions, and acts as a depositary for pension and investment funds.

The Bank’s Customers who are interested in entering and increasing their share of international markets may use a wide scope of products and services, such as: transaction banking, including international cash pooling, e-banking, Treasury products, trade finance and corporate loans, offered by the Bank’s foreign branches.

As at the end of 2021 the Corporate Segment and the Investment Segment serviced nearly 17 thousand Customers, including:

  • almost 8.8 thousand corporate Customers,
  • over 1.3 thousand strategic Customers,
  • almost 5.2 thousand local and central government institutions plus budgetary and related entities,
  • nearly 1.4 thousand foreign Customers,
  • nearly 0.4 thousand financial Customers.

Since the beginning of 2021 the number of Customers serviced in this segment increased by over 0.5 thousand.

In 2021, the Bank’s Group maintained its position as market leader for servicing the largest local government units: it handles the budgets of 7 voivodeships and 26 cities with poviat rights, including 9 voivodeship capital cities. For many years the Bank has also been financing and servicing banking of other public entities, including the Social Insurance Institute, organizational units of Państwowe Gospodarstwo Leśne Lasy Państwowe (State Forests), court bailiffs, hospitals, communal companies, systematically reinforcing the position of a leader in financing the Polish economy both independently and as a significant participant of banking syndicates.

Under the service offer of the Bank’s subsidiaries, Customers from the corporate segment may use lease and factoring products and services. Any fixed asset may be financed in the form of a lease, depending on the Customers’ needs. Apart from standard products, the offer also includes services of renting car fleet and cooperation with suppliers.

PKO Bank Polski S.A. conducted several actions with respect to adapting the foreign settlement infrastructure to the challenges posed by Brexit.

As at the end of 2021 total financing of Customers from the corporate segment, including loans, bonds issued and lease receivables amounted to PLN 74 billion and increased since the beginning of the year by nearly PLN 5.4 billion (i.e. 7.8%). The increase in factoring receivables exceeded 86% y/y in consequence of increasing sales of new factoring limits, as well as an increase in involvement under the contracts concluded with Customers, to the largest possible extent, in reverse factoring.

* the item does not include bonds from international financial organizations

The level of savings of Customers from the corporate segment as at 31 December 2021 amounted to PLN 63 billion and increased by nearly PLN 17.8 billion from the beginning of the year, mainly due to an increase in current and term deposits. At the same time, in 2021 the level of investments in bonds issued by the Bank’s Group companies increased by almost PLN 0.5 billion.

In 2021, the PKO Bank Polski S.A. Group:

  • with respect to Customer service and transaction banking:
    • implemented servicing of the Social Insurance Institute with respect to the 300+ Programme and prepared a solution for servicing the 500+ benefits;
    • implemented a metal PKO VISA Business Credit Premium card, which is the most prestigious business payment card available in the Bank’s offer;
  • with respect to financing and banking services for public entities, it concluded:
    • more than 130 agreements for comprehensive servicing of local governments’ budgets, including, among others, of Kraków, Wrocław, Poznań, Elbląg and the Mazovian and Świętokrzyskie Voivodeships;
    • 98 agreements for the issue of communal bonds totalling nearly PLN 2.1 billion;
  • with respect to financing the corporate segment Customers in the form of banking syndicates and bond issue underwriter,

it concluded:

    • 32 syndicated loan contracts for a total of PLN 18.6 billion, EUR 2.3 billion and USD 2.5 billion, in which the Bank’s share totalled more than PLN 2.6 billion, EUR 0.4 billion and more than USD 0.4 billion;
    • six corporate bond issues totalling PLN 5.8 billion and USD 0.6 billion;
  • with respect to brokerage activities (conducted by the Bank’s Brokerage Office):

it conducted:

    • as a joint manager, sales transactions of S.A., shares worth approx. PLN 4.6 billion (according to the accelerated bookbuilding ABB procedure) on the primary market.
    • as a joint bookbuilder and offering agent, the IPO of Pepco Group N.V., shares worth approx. PLN 3.7 billion;
    • as a joint bookbuilder and an investment company intermediating in the offer, the IPO of STS Holding S.A. shares worth approx. PLN 1.1 billion;
    • as the sole global coordinator and bookbuilder, a sale transaction according to the ABB procedure, of BNP Paribas Bank Polska S.A. shares worth approx. PLN 471 million;
    • as a global coordinator and joint bookbuilder and an intermediator in the offer in Poland, the IPO of shares of Shoper S.A. with its registered office in Kraków, with a value of approx. PLN 363 million;
    • as a joint bookbuilder, the IPO of Captor Therapeutics S.A. worth approx. PLN 184 million;

it serviced:

    • almost 141 thousand securities accounts and cash accounts, as well as more than 371 thousand registration accounts;
    • Additionally, 425 participation units in funds and subfunds managed by 11 Investment Fund Management Companies;
  • in the corporate segment of foreign Customers:
    • it engaged in new relations with Polish and European financial institutions (investment funds, payment and credit institutions) with respect to operational and settlement services of operations in Poland;
    • it started transactional cooperation with new banks, including NH Bank from South Korea and OP Pankki from Finland, which are the leading banks in their countries; it also won the tender for servicing Nova Kreditna Banka in Slovenia – a new entity which was established after the largest banking merger on the market;
    • it signed clearing agreements relating to making payments in PLN in the territory of the UK, the USA and China;
    • it enhanced a Cash Pooling service offered to global banking groups under Loro accounts opened with PKO Bank Polski S.A.

Insurance and leasing

In 2021 insurance and leasing services provided both to retail Customers and enterprises were intensified.

Activities in 2021

PKO Towarzystwo Ubezpieczeń S.A. launched a fully remote process for reporting and servicing losses, including: dynamic forms using mojeID, enabling the individual calculation of claims based on photographs, enabling quick disbursement and a dedicated claims account manager.

PKO Bank Polski S.A. and PKO Towarzystwo Ubezpieczeń S.A. expanded their offer by new house and apartment insurance: PKO Dom. The product, developed jointly with PKO Towarzystwo Ubezpieczeń S.A., meets the Customers’ needs for real estate, movables, private liability and other risks insurance in a comprehensive manner.

Connecting insurance cover with the use of the smart home technology is an additional innovation. After the purchase of PKO Dom, the Customer receives a 40% deduction on the purchase of smart equipment from FIBARO, which he/she may link to the policy. This allows notifying him/her through an application of any discovered threats (such as smoke, water, motion), and PKO Ubezpieczenia contacts him/her to offer help.

The PKO Dom insurance achieved record sales results – more than 65 thousand policies within less than four months of sales. Gazeta Ubezpieczeniowa granted the “Product of the month” award to PKO Dom.

In 2021 PKO Bank Polski S.A.’s Customers have already purchased more than 150 thousand sets of motor insurance. Since the beginning of the distribution, already more than 325 thousand sets of motor insurance were sold by the Bank.

In the first quarter of 2021, PKO Bank Polski S.A. and PKO Towarzystwo Ubezpieczeń S.A. jointly expanded the scope of travel insurance for PKO Mastercard Platinum and PKO Visa Infinite by contracting COVID-19, events related to travelling in Poland and added new insurance regarding refunds for tickets to sports and cultural events.

PKO Leasing S.A. implemented the PKO Leasing Online process which is available in e-commerce stores and lease servicing process for traditional stores. Both offers are addressed to business-persons to finance such objects as RTV equipment and domestic appliances, photographic equipment, bicycles, workshop equipment, and catering equipment.

The PKO Leasing S.A. Group introduced a new product – leases of passenger cars accompanied by their servicing. Under the Prime Car Management S.A. (PCM) service, Prime Car Management S.A. ensures organizational and logistics support, as well as the availability of several thousand Authorized Service Stations, car garages and collaborators from the automotive industry.

PKO Leasing S.A. and the PCM Group signed an agreement with Bank Ochrony Środowiska S.A. under the government programme “Mój elektryk” (“My electric Car”). Business Customers will be able to obtain subsidies to leases of electric cars via PKO Leasing S.A. Customers may obtain additional finance to electric cars of up to PLN 27 thousand, and official contacts are exclusively with PKO Leasing S.A.

PKO Leasing S.A. enabled signing contracts using electronic signatures to its Customers. It signed an agreement with Krajowa Izba Rozliczeniowa S.A. for the use of the mSzafir service with Autenti sp. z o.o. for providing services using software servicing electronic/qualified signatures.

IT projects and other services

New functions and remote services

PKO Bank Polski S.A. implemented a new version of a voice assistant. Thanks to the new solution users of the IKO application on the iOS system may add shortcuts to Siri (the Apple voice assistant). The Customer may set his/her own commands to call the voice assistant or accept the default ones. The voice assistant also has facilities for the blind and visually impaired and has been adapted to cooperation with Talkback (Android) and VoiceOver (iOS) screen readers.

In 2021 the assistant held more than 785 thousand conversations with Customers. The Customers made more than 75 thousand transfers via the assistant.

PKO Bank Polski S.A. launched BLIK smartphone proximity payments, which enable performing transactions using the BLIK system without the necessity to give the BLIK code, without a card and without the costs of foreign exchange. The new BLIK proximity payments function is available in the IKO application for the Android.

The number of transactions concluded until the end of 2021 using the proximity BLIK in the IKO application amounted to nearly 900 thousand. On workdays in December Customers concluded nearly 20 thousand transactions a day.

For all users of the IKO application PKO Bank Polski S.A. launched the option of making BLIK payments with automatic confirmation, i.e. without giving a code or confirming the transactions in IKO on

PKO Bank Polski S.A. made available, free of charge, the iPKO service and the IKO application to those who do not hold an account with PKO Bank Polski S.A. Customers may, among other things, confirm their identity and use e-administration services, exchange currencies online, have access to the mSzafir electronic signature and the balance of funds accumulated under PPK and PPE, and file applications for mortgage loans online.

Under the open banking and AIS (Account Information Service) services PKO Bank Polski S.A. enabled access to information on accounts maintained in 11 different institutions. The access is possible both in the IKO and iPKO internet banking services.

In 2021 PKO Bank Polski S.A. introduced many new functions such as transferring the purchased currencies to the Customer’s account with another bank without charging additional fees. Customers have already performed more than 6 million transactions in e-kantor using the IKO application. Customers performed over 1.4 million transactions in the e-kantor via the internet service iPKO.

In 2021 3,165 vehicles were sold via the internet platform, and jointly more than 3,800 cars were sold since the beginning of the platform’s existence. From among the vehicles sold in this period, 80% were sold using the financial product of the Bank’s Group, and the remaining 20% for cash. The total credit volume granted for the transactions on the platform in 2021 was close to PLN 200 million.

PKO Bank Polski S.A. implemented a new version of the internet service and a mobile application PKO supermakler (superbroker). The service was enhanced by adding new functions, e.g. integrated graphs with a technical analysis and clear presentation of information on dividends inflowing from companies, held in the account. The service was prepared in the RWD technology which means that irrespective of the size of the monitor PKO adapts to the Customer’s computer or tablet.

PKO Bank Polski S.A. jointly with ING Bank Śląski S.A., Santander Bank Polska S.A. and a wide range of partners developed the Standard of the Shareholder Registers Interface (SIRA). SIRA is used to standardize the technical conditions of systems functioning and allows shareholders to manage their shares remotely in the electronic registers.

PKO Bank Polski S.A. implemented the first autonomous instruction „Credit Card Restriction”, which is carried out by AI (Artificial Intelligence).

PKO Bank Polski S.A. implemented image recognition technology (iOCR), which supports the automation of servicing processes based on paper documents.

New technologies

In 2018 PKO Bank Polski S.A. initiated the establishment of Operator Chmury Krajowej sp. z o.o., a company which is being developed by the Bank jointly with the other shareholder, Polski Fundusz Rozwoju S.A. The strategic partnerships between the company, Google and Microsoft enable the Bank’s comprehensive transition from the traditional IT model to the provision of cloud services. PKO Bank Polski S.A. plans to ultimately operate in a hybrid cloud.

In 2021 the Bank implemented and developed modern services which function based on cloud computing.

It launched the first version of the MLOps analytic platform. The tool is based on cloud computing using the Google Cloud Platform. The use of modern tools enables supporting many processes, such as CRM and risk. The Bank implemented the first analytical models which successfully support internal processes.

The Bank launched a pilot version of the first cloud services. The use of the Google Cloud Platform enables using new optimization tools and delivering content to Customers. The pilot implementation ended in full success and enabled working out a model for the future development of the platform.

It implemented a comprehensive SAP SuccessFactors system for HR processes, which ensures modern servicing of employee-related processes. The launch covered 23 thousand staff and is the largest implementation of such a solution in Poland to date.

It implemented the Digital Employee Experience platform – an innovative internal communication tool. The platform develops the Bank employees’ digital experiences and enables quick access to information, also in the mobile version.

The Bank implemented the Intragraf service which is used in sales and service processes with regard to the Bank’s Customers.

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