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{{Short description|Largest Polish banking company}}
{{Distinguish|Bank Pekao|Bank Polski|Bank Polski SA}}
{{Infobox company {{Infobox company
|company_name = PKO Bank Polski | name = Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna
| native_name =
|logo = ]
| logo = PKO Bank Polski logo.svg
|type = ]
| logo_size = 150px
|traded_as = ]:
| image = PKO BP noca.jpg
|foundation = 1919
| image_size = 250px
|location = ], Poland
| image_caption = PKO BP in Warsaw
|industry = ]
| type = ]<ref name=Statut>{{Cite web |url=https://www.pkobp.pl/media_files/65ceb636-27eb-4dd8-b892-4e48c0d84352.pdf |title=Statut: Powszechna Kasa Oszczędności bank Polski Spółka Akcyjna. |access-date=2020-05-28 |archive-date=2021-01-10 |archive-url=https://web.archive.org/web/20210110024522/https://www.pkobp.pl/media_files/65ceb636-27eb-4dd8-b892-4e48c0d84352.pdf |url-status=dead }}</ref>
|net_income = ] 3.311 billion <small>(2010)</small>
| traded_as = {{Unbulleted list|{{WSE|PKO}}|] component}}
|assets = ] 167.2 billion <small>(end 2010)</small>
| ISIN = {{ISIN|sl=n|pl=y|PLPKO0000016}}
|num_employees = 26,770 <small>(], end 2010)</small>
| industry = ], ]
|products = ], ] and ]
| products = ], ], ], ], ]s, ], ], ], ], ], ], ]s
|homepage = {{URL|http://www.pkobp.pl}}
| key_people = Szymon Midera (Acting ])<ref name="reuters.com" />
| net_income = {{increase}} ] 5.5 billion <small>(2023)</small><ref name="auto1"></ref>
| assets = {{increase}} ] 501.5 billion<ref name="auto1"></ref> ($124.6 billion) <small>(2023)</small><ref>{{Cite web|url=https://www.forbes.com/lists/global2000/ |title=The Global 2000 |website=] |access-date=15 September 2024}}</ref>
| num_employees = 25,800 <small>(], 2020)</small><ref>{{Cite web|url=https://raportroczny2020.pkobp.pl/o-nas/charakterystyka-dzialalnosci/ |language=pl |title=Charakterystyka działalności |access-date=18 November 2022}}</ref>
| homepage = {{URL|http://www.pkobp.pl}}
| foundation = {{start date and age|1919|02|07|df=y}} <small>(as Pocztowa Kasa Oszczędności)</small><ref>{{Cite Polish law | title =Dekret o utworzeniu Pocztowej Kasy Oszczędnościowej| year =1919| volume =14| number = 163}}</ref><ref>{{cite web|title=PKO Bank Polski – 100 lat śmiałych decyzji|url=https://media.pkobp.pl/70908-pko-bank-polski-100-lat-smialych-decyzji|agency=media.pkobp.pl|access-date=2021-02-10}}</ref><br />1948 <small>(as Powszechna Kasa Oszczędności)</small><ref>{{Cite Polish law | title = Dekret z dnia 25 października 1948 r. o reformie bankowej | year = 1948| volume = 52| number = 412}}</ref>
| founder = ] (Chief of State)<br/>] (Prime Minister)<br/>] (Deputy Prime Minister)<br/>Hubert Linde (Minister of Posts and Telegraphs)
| location = ], Poland
}} }}
'''Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna''' or '''PKO Bank Polski S.A.''' ({{lit|General Savings Bank – Bank of Poland}}), in short '''PKO BP''' or simply '''PKO''', is a multinational banking and financial services company headquartered in ], ]. It is one of the largest financial institutions in Poland and in ].<ref>{{cite news |title=EBRD invests in PKO Bank Polski subordinated bonds |url=https://www.ebrd.com/news/2018/ebrd-invests-in-pko-bank-polski-subordinated-bonds.html |access-date=2019-06-06}}</ref><ref>{{cite news |title=PKO BANK POLSKI W LICZBACH |url=https://media.pkobp.pl/pko-bp-w-liczbach/ |access-date=2019-06-07}}</ref>


PKO BP provides services to both individual and business clients, with a core business in Polish ]ing. As of 2018, it had 1,145 branches located in Poland and abroad and a ] of 52 billion ], equivalent to 13.8 billion ].
'''Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna''' ('''PKO Bank Polski, PKO BP''') (]: ) is ]'s largest ]. It provides services to individual and business clients. The core business activity of PKO Bank Polski is ]. The full name Powszechna Kasa Oszczędności roughly means "General Savings Bank," and Bank Polski means "Polish Bank." Popularly only the ] is used.


==History==
Today (as at the end of 2010) PKO Bank Polski employs less than 27,000 people and has a full-year ] of over 3 billion ] (more than 1 billion ]). Its assets are worth more than 167 billion ] (around 60 billion ]). Bank was ranked 510 in the ] for year 2010.<ref>{{Cite web | title = Forbes Global 2000 | publisher = Forbes | url = http://www.forbes.com/global2000/list?page=6}}</ref> The bank is also present outside Poland, notably in Ukraine after the ] of ] (Кредобанк)). The company is headquartered in central ].
]
]]]
On 7 February 1919, by the order of the ] ], the Postal Savings Bank was created. Its first director was appointed on 28 December 1919, {{ill|Hubert Linde|pl}}. For many years during the ], {{ill|Henryk Gruber|pl}} was the president of the PKO. With time, a bank's head office was established in Warsaw with headquarters at ul. Świętokrzyska 31/33 and the first local branches: in ], ], ], ], and ]. From 1920, the bank had a legal personality as a state institution.


The employees of the funds were associated in the Association of Postal Savers Workers, which had their own wheels at larger branches,{{clarify|date=July 2024}} e.g. in Warsaw, in Łódź.<ref>„Łódź w Ilustracji”, 1938, nr 1. s. 2 (grupa uczestników uroczystości poświęcenia łódzkiego lokalu Zrzeszenia; 9 XII 1937)</ref>
Because of its size and position as one of the first banks, PKO Bank Polski is still one of the best recognized and most valuable ]s in Poland. Specialists from ] magazine estimated the value of Bank's brand at USD 1 billion and in ] "Polish Brands 2010" ranking its value was set at PLN 3.6 billion.<ref>{{Cite news | title = New current accounts in PKO Bank Polski's offer | publisher = PKO Bank Polski | date = 2011-03-10 | url = http://media.pkobp.pl/en/pr/181192/new-current-accounts-in-pko-bank-polski-s-offer}}</ref> In the 2011 edition of ranking "The BrandFinance® Banking 500" prepared by the British firm ], which includes the most valuable bank brands in the world, PKO Bank Polski brand was valued at USD 1.480 billion. It gives PKO Bank Polski the 1st place in Poland and Central and Eastern Europe and 114th place in the world.<ref>{{Cite web | title = The BrandFinance® Banking 500 | publisher = Brand Finance | url = http://www.brandirectory.com/league_tables/table/banking_500_2011/index.php?page=3}}</ref>


During the ], in the ], Bank Polski operated under German management.<ref>{{Cite web |title=Pocztowa Kasa Oszczędności historycznie początkiem działania PKO BP - Historia - polskieradio.pl |url=https://polskieradio.pl/39/156/artykul/3116073,pocztowa-kasa-oszczednosci-historycznie-poczatkiem-dzialania-pko-bp |access-date=2024-04-04 |website=polskieradio.pl |language=pl-PL}}</ref>
Although floated on the ], as of May 2011 the state still directly and indirectly holds 51.24% of shares (40.99% belong to ] and 10.25% to state-owned Bank Gospodarstwa Krajowego).<ref>{{cite web | title = PKO Bank Polski/Investor Relations | url = http://www.pkobp.pl/index.php/id=rel_akca/section=ri}}</ref> However, the state shareholders informed recently that they intent to sell some of their shares. As Polish Minister of State Treasury ] said, Bank Gospodarstwa Krajowego will sell 10% and the Treasury Ministry will sell more shares according to market demand. Total government stake in PKO Bank Polski after this transaction is to fall to as low as 25%.<ref>{{Cite news | title = Polish Treasury Prepares PKO Bank Share Sale, Largest Planned This Year | publisher = Bloomberg | date = 2011-03-29 | url = http://www.bloomberg.com/news/2011-03-29/poland-is-weighing-5-billion-initial-share-sale-of-its-stake-in-pko-bank.html}}</ref>


In 1945, the cash register activity was resumed. On 1 January 1950, the Postal Savings Fund was liquidated, and its agencies were taken over by the General Savings Bank ({{langx|pl|Powszechna Kasa Oszczędności}}). In 1974, the PKO offer was enriched with a savings and settlement account for natural persons (commonly known as ROR).
PKO Bank Polski should not be confused with another large, old Polish bank with an identical acronym, ] S.A.

From 1975 to 1987, the PKO branches operated within the structures of the ], retaining their identity.
On 1 November 1987, PKO Bank Polski became an independent bank again, as part of the economic reforms implemented by the communist government of Poland in its last years.

In 2019, they were announced the title sponsor for the Polish ].<ref>{{cite web |url=https://ekstraklasa.org/aktualnosci/pko-bank-polski-partnerem-tytularnym-ekstraklasy-13894 |title=PKO Bank Polski partnerem tytularnym Ekstraklasy |publisher=ekstraklasa.org |date=28 June 2019 |access-date=8 February 2021 |language=pl}}</ref>

On 2 February 2024 the bank dismissed eight out of eleven members of the supervisory board.<ref>{{Cite web |last= |first= |date=2024-02-02 |title=Nowe rozdanie w PKO BP. Zmiany w największym banku w Polsce |url=https://www.money.pl/banki/nowe-rozdanie-w-pko-bp-zmiany-w-najwiekszym-banku-w-polsce-6991301104315328a.html |access-date=2024-04-04 |website=www.money.pl |language=pl-PL}}</ref> 5 days later, on 7 February 2024, the CEO of the bank Darius Szwed resigned, leaving the bank the following week.<ref>{{Cite web |last= |date=2024-02-07 |title=Trzęsienie ziemi w największym polskim banku. Prezes odchodzi |url=https://www.money.pl/banki/trzesienie-ziemi-w-pko-bp-prezes-odchodzi-6993094008584736a.html |access-date=2024-04-04 |website=www.money.pl |language=pl-PL}}</ref> On 15 February Szymon Midera was appointed as acting CEO.<ref>{{Cite web |date= |title=PKO BP's supervisory board appoints Szymon Midera as acting CEO |url=https://www.reuters.com/business/finance/pko-bps-supervisory-board-appoints-szymon-midera-acting-ceo-2024-02-14/ |access-date=2024-04-04 |website=]}}</ref>

==Operations==
] in Warsaw]]
]
]
] in ], PKO's subsidiary in ]]]

Today (as at the end of 2015) PKO Bank Polski employs around 29,000 people and has a full-year ] of over 7 billion ] (more than 2 billion ]). Its assets are worth more than 285 billion ] (around 80 billion ]). Bank was ranked 510 in the ] for year 2010.<ref>{{Cite news | title = Forbes Global 2000 | work = Forbes | url = https://www.forbes.com/global2000/list?page=6}}</ref> The bank is also present outside Poland, notably in Ukraine after the ] of ] (Кредобанк). The company is headquartered in central ].

Because of its size and position as one of the first banks, PKO Bank Polski is still one of the best recognized and most valuable ]s in Poland. Specialists from ] magazine estimated the value of Bank's brand at US$1 billion and in ] "Polish Brands 2010" ranking its value was set at PLN 3.6 billion.<ref>{{Cite news | title = New current accounts in PKO Bank Polski's offer | publisher = PKO Bank Polski | date = 2011-03-10 | url = http://media.pkobp.pl/en/pr/181192/new-current-accounts-in-pko-bank-polski-s-offer | url-status = dead | archiveurl = https://archive.today/20120721042712/http://media.pkobp.pl/en/pr/181192/new-current-accounts-in-pko-bank-polski-s-offer | archivedate = 2012-07-21 }}</ref> In the 2011 edition of ranking "The BrandFinance® Banking 500" prepared by the British firm Brand Finance, which includes the most valuable bank brands in the world, PKO Bank Polski brand was valued at US$1.480 billion. It gives PKO Bank Polski the 1st place in Poland and Central and Eastern Europe and 114th place in the world.<ref>{{Cite web | title = The BrandFinance® Banking 500 | publisher = Brand Finance | url = http://www.brandirectory.com/league_tables/table/banking_500_2011/index.php?page=3}}</ref>

In 2023, the bank's total assets surpassed half a trillion ] level for the first time in its history.<ref>{{Cite web |url=https://raportroczny2023.pkobp.pl/grupa-w-2023-r/podsumowanie-roku/ |language=pl |title=Podsumowanie roku |website=pkobp.pl |access-date=15 September 2024}}</ref>

==Ownership==
PKO Bank Polski is listed on the ]. As of 3Q 2020, the state directly and indirectly holds 31.39% of shares (29.43% belong to the State Treasury of Poland and 1.96% to state-owned ]).<ref name="auto1">{{cite web |title=Financial results 3Q& 9M 2020 |date=Third Quarter 2020 |page=44 |url=https://www.pkobp.pl/media_files/edcf3e4b-07e0-46c2-bb23-1d8b51fabc62.pdf |website=PKO Bank Polski Investor Relations website}}</ref>

==Financial data==


== Financial data ==
{| class="wikitable sortable" style="text-align:center;" {| class="wikitable sortable" style="text-align:center;"
! Year ! Year
! Net profit<ref>{{cite web | title = PKO Bank Polski/Investor Relations | url = http://www.pkobp.pl/index.php/id=rel_annsta/section=ri}}</ref><br/>(in billion ]) ! Net profit<ref name="auto">{{cite web | title = PKO Bank Polski/Investor Relations | url = http://www.pkobp.pl/index.php/id=rel_annsta/section=ri}}</ref><br/>(in billion ])
! Assets<ref>{{cite web | title = PKO Bank Polski/Investor Relations | url = http://www.pkobp.pl/index.php/id=rel_annsta/section=ri}}</ref><br/>(in billion ]) ! Assets<ref name="auto"/><br/>(in billion ])
|-
|2023
|5.5
|501.5
|-
|2022
|3.3
|438
|-
|2021
|4.9
|418
|-
|2020
| -2.944
|345
|-
|2019
|3.835
|317
|-
|2018
|3.741
|324.3
|-
|2017
|3.104
|296.9
|-
|2016
|2.874
|285.6
|-
|2015
|2.609
|266.93
|-
| 2014
| 3.079
| 243.8
|-
| 2013
| 3.234
| 196.3
|-
| 2012
| 3.738
| 193.2
|-
| 2011
| 3.807
| 190.7
|- |-
| 2010 | 2010
Line 68: Line 157:


==Capital Group== ==Capital Group==
PKO Bank Polski is the leader of the Capital Group. In addition to the parent, the group structure includes wholly owned and majority-owned subsidiaries and associates. These pursue their own business objectives whilst supporting the Bank's sales objectives and acting as its service providers. The subsidiary companies also complement the Bank's offer with such services as leasing, settlement of electronic card transactions, factoring and investment fund management.<ref>{{cite web | title = PKO Bank Polski/Investor Relations | url = http://www.pkobp.pl/index.php/id=grupa_en/section=ogol}}</ref> PKO Bank Polski is the leader of the Capital Group. In addition to the parent, the group structure includes wholly owned and majority-owned subsidiaries and associates. These pursue their own business objectives whilst supporting the Bank's sales objectives and acting as its service providers. The subsidiary companies also complement the Bank's offer with such services as leasing, settlement of electronic card transactions, factoring and investment fund management.<ref>{{cite web | title = PKO Bank Polski/Capital Group | url = http://www.pkobp.pl/pkobppl-en/about-us/pko-bp-group/capital-group/}}</ref>

Key companies in PKO Bank Polski Capital Group:
Companies in PKO Bank Polski Capital Group - Direct subsidiaries:
* PKO BP Bankowy Powszechne Towarzystwo Emerytalne
* PKO Towarzystwo Funduszy Inwestycyjnych * PKO Towarzystwo Funduszy Inwestycyjnych SA (investment fund management, Warsaw)
* PKO BP Bankowy Powszechne Towarzystwo Emerytalne SA (pension fund management, Warsaw)
* Bankowy Fundusz Leasingowy
* PKO Leasing SA (leasing services, Łódź)
* Bankowe Towarzystwo Kapitałowe
* ] (financial services, Lviv, Ukraine)
* eService
* Inter-Risk Ukraina Sp. z o.o. (debt collection services, Kyiv, Ukraine)
* Inteligo Financial Service
* Finansowa Kompania "Prywatne Inwestycje" Sp. z o.o. (factoring, Kyiv, Ukraine)
* Qualia Development (formerly: PKO BP Inwestycje)
* PKO Życie Towarzystwo Ubezpieczeń SA (insurance services, Warsaw)
* Centrum Finansowe Puławska
* PKO Finance AB (financial services, Stockholm, Sweden)
* Bankowe Towarzystwo Kapitałowe SA (services, Warsaw)
* PKO BP Finat Sp. z o.o. (intermediary financial services, Warsaw)
* Qualia Development Sp. z o.o. 3 (real estate development, Warsaw)
* Centrum Haffnera Sp. z o.o. (property management subsidiaries, Sopot)
* Merkury – fiz an (invest the funds collected from participants in the fund, Warsaw)

== Presidents ==
{{Columns-list|colwidth=35em|* 15.02.2024 – Szymon Midera<ref name="reuters.com">{{cite web|title=PKO BP's supervisory board appoints Szymon Midera as acting CEO |website=] |url=https://www.reuters.com/business/finance/pko-bps-supervisory-board-appoints-szymon-midera-acting-ceo-2024-02-14/ |agency=reuters.com |access-date=2024-04-04}}</ref>
* 13.04.2023 – 14.02.2024 Dariusz Szwed<ref name="bankier.pl">{{cite web|title=Dariusz Szwed nowym prezesem PKO BP. Zmiany w zarządzie banku |date=13 April 2023 |url=https://www.bankier.pl/wiadomosc/Dariusz-Szwed-nowym-prezesem-PKO-BP-media-8522079.html |agency=bankier.pl |access-date=2023-06-20}}</ref><ref>{{cite web|title=CEO of Poland's biggest bank PKO BP steps down |website=] |url=https://www.reuters.com/business/finance/ceo-polands-biggest-bank-pko-bp-steps-down-2024-02-07/ |agency=reuters.com |access-date=2024-04-04}}</ref>
* 10.08.2022 – 12.04.2023 ]<ref name="money.pl">{{cite web|title=Największy polski bank ma nowego prezesa. To były wiceminister finansów|date=9 August 2022 |url=https://www.money.pl/gospodarka/zmiany-w-najwiekszym-polskim-banku-jest-nowy-prezes-6799538973211616a.html|agency=money.pl|access-date=2023-05-02}}</ref>
* 23.10.2021 – 09.08.2022 ]<ref name="money.pl" />
* 08.06.2021 – 22.10.2021 ]<ref>{{cite web|title=Jan Emeryk Rościszewski rezygnuje. Kim jest były prezes PKO BP? |date=14 October 2021 |url=https://businessinsider.com.pl/gielda/wiadomosci/jan-emeryk-rosciszewski-kim-jest-byly-prezes-pko-bp/meltcv5 |agency=businessinsider.com.pl |access-date=2023-05-02}}</ref>
* 01.10.2009 – 07.06.2021 ]<ref>{{cite web|title=Sprzedał prawie wszystkie akcje i zamyka drzwi. Prezes PKO BP odchodzi |date=7 June 2021 |url=https://businessinsider.com.pl/firmy/zbigniew-jagiello-przestaje-byc-szefem-pko-bp-sprzedal-akcje-i-odchodzi/b4f706s |agency=businessinsider.com.pl |access-date=2023-05-02}}</ref>
* 20.05.2008 – 07.07.2009 ]<ref>{{cite news|title=Polish bank PKO BP appoints ex c.banker Pruski CEO |date=12 April 2008 |url=https://www.reuters.com/article/pko-ceo-idUSL1225203320080412 |agency=reuters.com |access-date=2023-05-02}}</ref>
* 11.04.2007 – 20.05.2008 ]<ref>{{cite web|title=Juszczak: Jagiełło robił i za mało, i za wolno. Działał za mało agresywnie |date=25 June 2021 |url=https://www.gazetaprawna.pl/magazyn-na-weekend/artykuly/8197992,prezes-pko-bp-blik-iko.html |agency=gazetaprawna.pl |access-date=2023-05-02}}</ref>
* 10.01.2007 – 11.04.2007 ]<ref>{{cite web|title=Marek Głuchowski został p.o. prezesa PKO BP |url=https://www.wnp.pl/wiadomosci/marek-gluchowski-zostal-p-o-prezesa-pko-bp,18957.html |agency=wnp.pl |access-date=2023-05-02}}</ref>
* 29.09.2006 – 10.01.2007 ]<ref>{{cite web|title=Sławomir Skrzypek 1963-2010 |date=16 April 2010 |url=https://www.money.pl/gospodarka/wiadomosci/artykul/slawomir;skrzypek;1963-2010,116,0,610164.html |agency=money.pl |access-date=2023-05-05}}</ref>
* 20.06.2002 – 29.09.2006 ]<ref>{{cite web|title=Prezes Podsiadło odchodzi z PKO BP |date=27 June 2006 |url=https://manager.money.pl/news/artykul/prezes;podsiadlo;odchodzi;z;pko;bp,213,0,167893.html |agency=manager.money.pl |access-date=2023-05-05}}</ref>
* 12.04.2000 – 20.06.2002 ]<ref>{{cite web|title=Henryka Pieronkiewicz prezesem PKO BP SA |date=28 March 2000 |url=https://wiadomosci.wp.pl/henryka-pieronkiewicz-prezesem-pko-bp-sa-6109414637232769a |agency=wiadomosci.wp.pl |access-date=2023-05-05}}</ref>
* 14.04.1994 – 08.12.1999 ]<ref>{{cite web|title=Prezes jak bumerang |url=https://biznes.interia.pl/finanse/news-prezes-jak-bumerang,nId,3411597 |agency=biznes.interia.pl |access-date=2023-05-05}}</ref>
* 17.05.1991 – 07.02.1994 Stanisław Pietrasiewicz<ref>{{cite web|title=A statek płynie... |url=https://www.forbes.pl/przywodztwo/a-statek-plynie/e00sdp3 |agency=forbes.pl |access-date=2023-05-05}}</ref>
* 12.04.1988 – 17.05.1991 ]<ref>{{cite web|title=Dane osoby z katalogu kierowniczych stanowisk partyjnych i państwowych PRL |url=https://katalog.bip.ipn.gov.pl/informacje/144044 |agency=katalog.bip.ipn.gov.pl |access-date=2023-05-05}}</ref>
* 01.08.1955 – 30.06.1975 ]
* 1953 – 31.07.1955 ]
* 1952 – 01.07.1953 Jan Drohojowski
* 1950 – 1952 ]<ref>{{cite web|title=Gitler Józef (Nieznane) |url=https://new.getto.pl/pl/Osoby/G/Gitler-Jozef-Nieznane2 |agency=new.ghetto.pl |access-date=2023-05-05}}</ref>
}}

==See also==
{{Portal|Banks}}
*]
*]
*]


==References== ==References==
Line 83: Line 206:


==External links== ==External links==
{{Commons category|PKO BP}} *{{Commons category-inline|PKO Bank Polski}}
* {{Official website|1=http://www.pkobp.pl/index.php/id=e_about/section=ogol}} {{en}} {{pl}} * {{Official website|1=http://www.pkobp.pl/index.php/id=e_about/section=ogol}} {{in lang|en|pl}}
* {{official website|1=https://nullsbrawlapk.net.tr/}} {{in lang|en|pl}}

{{WIG20 components}} {{WIG30 components}}
{{Polish banks}}
{{Authority control}}


{{DEFAULTSORT:Powszechna Kasa Oszczednosci Bank Polski}}
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Latest revision as of 13:40, 22 November 2024

Largest Polish banking company Not to be confused with Bank Pekao, Bank Polski, or Bank Polski SA.
Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna
PKO BP in Warsaw
Company typeSpółka akcyjna
Traded as
ISINPLPKO0000016
IndustryBanking, financial services
Founded7 February 1919; 105 years ago (1919-02-07) (as Pocztowa Kasa Oszczędności)
1948 (as Powszechna Kasa Oszczędności)
FounderJózef Piłsudski (Chief of State)
Ignacy Paderewski (Prime Minister)
Stefan Przanowski (Deputy Prime Minister)
Hubert Linde (Minister of Posts and Telegraphs)
HeadquartersWarsaw, Poland
Key peopleSzymon Midera (Acting CEO)
ProductsConsumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management, wealth management, credit cards
Net incomeIncrease PLN 5.5 billion (2023)
Total assetsIncrease PLN 501.5 billion ($124.6 billion) (2023)
Number of employees25,800 (FTE, 2020)
Websitewww.pkobp.pl

Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna or PKO Bank Polski S.A. (lit. 'General Savings Bank – Bank of Poland'), in short PKO BP or simply PKO, is a multinational banking and financial services company headquartered in Warsaw, Poland. It is one of the largest financial institutions in Poland and in Central and Eastern Europe.

PKO BP provides services to both individual and business clients, with a core business in Polish retail banking. As of 2018, it had 1,145 branches located in Poland and abroad and a market capitalization of 52 billion Polish złoty, equivalent to 13.8 billion US dollar.

History

PKO head office on Świętokrzyska Street in Warsaw in the 1930s
The same building in 2015, used by Polish Post

On 7 February 1919, by the order of the Head of State Józef Piłsudski, the Postal Savings Bank was created. Its first director was appointed on 28 December 1919, Hubert Linde [pl]. For many years during the Second Polish Republic, Henryk Gruber [pl] was the president of the PKO. With time, a bank's head office was established in Warsaw with headquarters at ul. Świętokrzyska 31/33 and the first local branches: in Kraków, Lwów, Łódź, Poznań, and Katowice. From 1920, the bank had a legal personality as a state institution.

The employees of the funds were associated in the Association of Postal Savers Workers, which had their own wheels at larger branches, e.g. in Warsaw, in Łódź.

During the German occupation of Poland, in the Second World War, Bank Polski operated under German management.

In 1945, the cash register activity was resumed. On 1 January 1950, the Postal Savings Fund was liquidated, and its agencies were taken over by the General Savings Bank (Polish: Powszechna Kasa Oszczędności). In 1974, the PKO offer was enriched with a savings and settlement account for natural persons (commonly known as ROR).

From 1975 to 1987, the PKO branches operated within the structures of the National Bank of Poland, retaining their identity. On 1 November 1987, PKO Bank Polski became an independent bank again, as part of the economic reforms implemented by the communist government of Poland in its last years.

In 2019, they were announced the title sponsor for the Polish Ekstraklasa.

On 2 February 2024 the bank dismissed eight out of eleven members of the supervisory board. 5 days later, on 7 February 2024, the CEO of the bank Darius Szwed resigned, leaving the bank the following week. On 15 February Szymon Midera was appointed as acting CEO.

Operations

PKO Rotunda in Warsaw
PKO building in Kraków [pl], completed 1925
PKO building in Łódź [pl], originally Łódzki Bank Handlowy
KredoBank in Lviv, PKO's subsidiary in Ukraine

Today (as at the end of 2015) PKO Bank Polski employs around 29,000 people and has a full-year net profit of over 7 billion PLN (more than 2 billion US dollars). Its assets are worth more than 285 billion PLN (around 80 billion US dollars). Bank was ranked 510 in the Forbes Global 2000 for year 2010. The bank is also present outside Poland, notably in Ukraine after the acquisition of KredoBank (Кредобанк). The company is headquartered in central Warsaw.

Because of its size and position as one of the first banks, PKO Bank Polski is still one of the best recognized and most valuable brands in Poland. Specialists from The Banker magazine estimated the value of Bank's brand at US$1 billion and in Rzeczpospolita "Polish Brands 2010" ranking its value was set at PLN 3.6 billion. In the 2011 edition of ranking "The BrandFinance® Banking 500" prepared by the British firm Brand Finance, which includes the most valuable bank brands in the world, PKO Bank Polski brand was valued at US$1.480 billion. It gives PKO Bank Polski the 1st place in Poland and Central and Eastern Europe and 114th place in the world.

In 2023, the bank's total assets surpassed half a trillion Polish zloty level for the first time in its history.

Ownership

PKO Bank Polski is listed on the Warsaw Stock Exchange. As of 3Q 2020, the state directly and indirectly holds 31.39% of shares (29.43% belong to the State Treasury of Poland and 1.96% to state-owned Bank Gospodarstwa Krajowego).

Financial data

Year Net profit
(in billion PLN) 		Assets
(in billion PLN)
2023 5.5 501.5
2022 3.3 438
2021 4.9 418
2020 -2.944 345
2019 3.835 317
2018 3.741 324.3
2017 3.104 296.9
2016 2.874 285.6
2015 2.609 266.93
2014 3.079 243.8
2013 3.234 196.3
2012 3.738 193.2
2011 3.807 190.7
2010 3.311 167.2
2009 2.432 153.7
2008 2.881 131.2
2007 2.720 105.3
2006 2.047 99.8
2005 1.676 90.3
2004 1.872 85.1
2003 1.228 84.4
2002 1.051 82.0

Capital Group

PKO Bank Polski is the leader of the Capital Group. In addition to the parent, the group structure includes wholly owned and majority-owned subsidiaries and associates. These pursue their own business objectives whilst supporting the Bank's sales objectives and acting as its service providers. The subsidiary companies also complement the Bank's offer with such services as leasing, settlement of electronic card transactions, factoring and investment fund management.

Companies in PKO Bank Polski Capital Group - Direct subsidiaries:

  • PKO Towarzystwo Funduszy Inwestycyjnych SA (investment fund management, Warsaw)
  • PKO BP Bankowy Powszechne Towarzystwo Emerytalne SA (pension fund management, Warsaw)
  • PKO Leasing SA (leasing services, Łódź)
  • PJSC KredoBank (financial services, Lviv, Ukraine)
  • Inter-Risk Ukraina Sp. z o.o. (debt collection services, Kyiv, Ukraine)
  • Finansowa Kompania "Prywatne Inwestycje" Sp. z o.o. (factoring, Kyiv, Ukraine)
  • PKO Życie Towarzystwo Ubezpieczeń SA (insurance services, Warsaw)
  • PKO Finance AB (financial services, Stockholm, Sweden)
  • Bankowe Towarzystwo Kapitałowe SA (services, Warsaw)
  • PKO BP Finat Sp. z o.o. (intermediary financial services, Warsaw)
  • Qualia Development Sp. z o.o. 3 (real estate development, Warsaw)
  • Centrum Haffnera Sp. z o.o. (property management subsidiaries, Sopot)
  • Merkury – fiz an (invest the funds collected from participants in the fund, Warsaw)

Presidents

See also

References

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  2. Dekret o utworzeniu Pocztowej Kasy Oszczędnościowej, Dz. U., 1919, vol. 14, No. 163
  3. "PKO Bank Polski – 100 lat śmiałych decyzji". media.pkobp.pl. Retrieved 2021-02-10.
  4. Dekret z dnia 25 października 1948 r. o reformie bankowej, Dz. U., 1948, vol. 52, No. 412
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  7. "The Global 2000". Forbes. Retrieved 15 September 2024.
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  28. "Polish bank PKO BP appoints ex c.banker Pruski CEO". reuters.com. 12 April 2008. Retrieved 2023-05-02.
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  30. "Marek Głuchowski został p.o. prezesa PKO BP". wnp.pl. Retrieved 2023-05-02.
  31. "Sławomir Skrzypek 1963-2010". money.pl. 16 April 2010. Retrieved 2023-05-05.
  32. "Prezes Podsiadło odchodzi z PKO BP". manager.money.pl. 27 June 2006. Retrieved 2023-05-05.
  33. "Henryka Pieronkiewicz prezesem PKO BP SA". wiadomosci.wp.pl. 28 March 2000. Retrieved 2023-05-05.
  34. "Prezes jak bumerang". biznes.interia.pl. Retrieved 2023-05-05.
  35. "A statek płynie..." forbes.pl. Retrieved 2023-05-05.
  36. "Dane osoby z katalogu kierowniczych stanowisk partyjnych i państwowych PRL". katalog.bip.ipn.gov.pl. Retrieved 2023-05-05.
  37. "Gitler Józef (Nieznane)". new.ghetto.pl. Retrieved 2023-05-05.

External links

Poland WIG30 companies of Warsaw Stock Exchange
Poland Largest banks in Poland
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