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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, insurance and debt collection services, transfer agent, IT specialist outsourcing 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 2015, PKO TFI SA generated net profit of PLN 56.5 million (in 2014 net profit amounted to 51.1 million PLN).
  2. Asset value of the funds managed by the Company as of the end of 2015 amounted PLN 18.43 billion, an increase of assets by 8.7% compared to the end of 2014. The increase in assets resulted mainly from the positive net sales.
  3. PKO TFI SA ranks 3rd in terms of net asset value with 7.3% share in investment funds market and #1 position with 14.3% share in managed assets of non-dedicated funds*.
  4. As of 31 December 2015 the Company manages 40 funds and sub-funds.
  5. In 2015 the Company carried out 14 issues of investment certificates of closed-end investment funds. Acquired assets totaled PLN 410.6 million.
  6. In 2015 more than 26 thousand customers joined the Programme "Pension Package PKO TFI", representing 59% of all customer program being offered by the Company since 2012. As at 31 December 2015, PKO TFI SA led 23 group pension schemes including 4 new created in 2015.

* Source: Chamber of Fund and Asset Management (IZFiA).

PKO BP BANKOWY PTE SA

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

  1. In 2015 PKO BP BANKOWY PTE SA generated a net profit of PLN 7.9 million (in 2014 net profit amounted to 17.5 million PLN).
  2. At the end of December 2015 the net asset value of PKO BP Bankowy OFE managed by PKO BP BANKOWY PTE SA amounted to PLN 6.3 billion, which represents a decrease of 4.5% compared to the end of 2014. The decrease is due to the downturn on the Polish stock market and foreign financial markets and overweighing withdrawals from PKO BP Bankowy OFE to ZUS under the 'safety slider' over inflows of members' contributions from ZUS to PKO BP Bankowy OFE.
  3. PKO BP Bankowy OFE had over 943 thousand Members as of the end of December 2015
  4. PKO BP Bankowy OFE is the 8th biggest pension fund in terms of net asset value and 9th in terms of number of members.
  5. In 2015 PFSA announced the OFEs return rates as at the end of March and September, for a period of 36 months. According to the announcement of the PFSA for the period from 30 March 2012 to 31 March 2015 PKO BP Bankowy OFE had a rate of return of 27.708%, compared to the weighted average rate of return for all funds in the amount of 25.129%. This yielded the Fund 3 place among all pension funds. In the second statement, taking into account the period from 28 September 2012 to 30 September 2015, the Fund obtained a rate of return equal to 15.129%, with a weighted average rate of return for all funds of 12.717%. The Fund ranked 2 in this ranking.

* Source: www.knf.gov.pl

The PKO Życie Towarzystwo Ubezpieczeń SA Group

Number of insured (in thousand)

  1. PKO Życie Towarzystwo Ubezpieczeń SA Group (ie. PKO Życie Towarzystwo Ubezpieczeń and its subsidiary Ubezpieczeniowe Usługi Finansowe Sp. z o.o.) reported a net loss of PLN 9.9 million (in 2014 the net loss of the Group amounted to 25.7 million PLN).
  2. PKO Życie Towarzystwo Ubezpieczeń SA offers protective, savings and 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 166 domestic and foreign Insurance Capital Funds , including 6 model portfolios and 9 Insurance Capital Funds developed by PKO TFI SA experts.
  3. The value of gross assigned premiums from assumed by the company insurance contracts as at 31 December 2015 amounted to PLN 1 070 million.
  4. The company insured at the end of 2015 598 thousand people.

The PKO Leasing SA Group

Value of assets under lease (in PLN billion)

  1. On 10 June 2015 the PKO Leasing SA Group was expanded with the PKO BP Factoring SA - results of the PKO Leasing SA Group include this change.
  2. PKO Leasing SA Group(ie. PKO Leasing SA and its subsidiaries: PKO Bankowy Leasing Sp. o.o., PKO Leasing Sverige AB and PKO BP Faktoring SA) in 2015 generated a net profit of 26.9 million PLN.
  3. In 2015, the Company transferred to the Group leased out assets with a total value of PLN 3.0 billion, ie. 11.3% more than in 2014. The increase is a result of the use of the Bank sales network and increase in the own distribution.
  4. In terms of value of assets leased PKO Leasing SA occupied at the end of December 2015 6th position on the leasing market with 6.1% market share *.
  5. The total carrying value of lease investments of the Group PKO Leasing SA at the end of December 2015 of PLN 5.1 billion.
  6. In 2015, a subsidiary of PKO BP Factoring SA provided domestic and export factoring services with asuming the risk and without taking risks,  reverse factoring and factoring program for providers.
  7. In 2015, the value of factoring turnover amounted to PLN 6.3 billion (in 2014 this figure amounted to PLN 3.0 billion); at the end of the year, the Company had 208 customers.
  8. On 31 December 2015 PKO BP Faktoring SA held the 8th place among factoring companies associated in the Polish Factors Association with a market share of 4.7%.

* Source: Polish Leasing Association

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

The gross loan portfolio (in UAH million)

  1. In 2015 KREDOBANK SA Group (ie. KREDOBANK SA and its subsidiary Finansowa Kompania „Idea Kapitał” Sp. z o.o.) earned a net profit of UAH 110 million (PLN 19 million). In 2014 KREDOBANK SA Group incurred a net loss of UAH 308 million (PLN 81 million). The result for 2015 is the result of the development of KREDOBANK SA in all business segments with effective cost management, liquidity, margin and risk.
  2. The gross loan portfolio of KREDOBANK SA Group in 2015 increased by UAH 1 318 million, ie. by 35.7% and amounted on 31 December 2015 UAH 5 011 million (gross loan portfolio expressed in PLN at the end of 2015 was PLN 813 million). The increase in the loan portfolio in UAH is the result of strong sales of new loans, and the effect of higher valuation of loans denominated in foreign currencies due to changes in the exchange rate UAH / USD.
  3. Term deposits of KREDOBANK SA customers grew in 2015 by UAH 1 049 million, ie. by 55.6% and by the end of 2015 amounted to UAH 2 939 million (term deposits denominated in PLN at the end of 2015 amounted to PLN 477 million). High growth in deposits is a result of the growth in the value of foreign currency deposits in UAH and the increasing credibility and ranking of KREDOBANK SA in the banking market in Ukraine (new clients).
  4. As of 31 December 2015 the network of KREDOBANK SA consisted of the Head Office in Lviv and 110 branches in 22 of the 24 regions of Ukraine. In 2015 we changed the location of 10 branches and closed and opened 1 branch.

The Qualia Development Sp. z o.o. Group 

Sale of apartments - number of contracts signed

  1. Qualia Development Sp. o.o. Group closed 2015 with net loss of PLN 22.4 million (in 2014 the net loss of the Group amounted to PLN 16.4 million).
  2. "In 2015, the Group's activities were focused on:
    - realization of investment Royal Park in Nowy Wilanow in Warsaw and the start of the next stage of project Neptun Park in Gdansk-Jelitkowo,
    - operating the hospitality business,
    - conducting works related to obtain the zoning decision for the project Żwirki i Wigury in Warsaw, which it received in July 2015,
    - conducting conceptual works and administrative proceedings in order to obtain zoning decision for the property owned by PKO Bank Polski SA, located in Warsaw at Nowogrodza st. and Sienkiewicz st,
    - conducting the sale of apartments in investments that are completed and in progress; in 2015 we sold i.a. last premises of the projects Nowy Wilanow and Park Neptuna."

PKO Bank Hipoteczny SA

  1. On 1 April 2015 operational activity began Mortgage Bank PKO SA - a new subsidiary of PKO Bank Polski SA.
  2. The company operates in mortgages market. Based on the strategic cooperation with PKO Bank Polski SA these loans are offered to retail customers.
  3. The key task of the Mortgage Bank PKO SA is the issue of mortgage bonds, which are a major source of long-term financing granted by the Company of loans secured by real estate.
  4. In December 2015, PKO Bank Hipoteczny SA has completed the first transfer of mortgage loans of PKO Bank Polski SA for a total amount of over PLN 400 million. In the same month, the Company conducted its first issue of mortgage bonds worth PLN 30 million, facing domestic investors.

PKO BP Finat Sp. z o.o.

  1. The company provides comprehensive services to companies in the financial sector - m.in .: transfer agent, fund accounting and companies. He also specializes in outsourcing competency of IT professionals, project teams and IT processes.
  2. The company in 2015 provided services as transfer agent in the customer service of investment funds for PKO TFI SA, open pension funds for PKO BP BANKOWY PTE SA (Pension Fund and the Voluntary Pension Fund) and the transfer agent or service bookkeeping investment funds, together with the valuation of their assets for 4 other investment companies, as well as services for the Insurance Capital Funds.
  3. In October 2015, the Company obtained the authorization of the Financial Supervision Commission for the services of a national payment institution.
  4. The Company PKO BP Finat Sp. o.o. generated in 2015 a net profit in the amount of PLN 16.2 million (in 2014 net profit amounted to PLN 5.1 million)
  5. In 2015 the Company kept Certificate of Information Security Management System complies with the requirements of ISO / IEC 27001:2013 and successfully passed the annual consistent with ISAE3402 testing the functioning of the control mechanisms for their operational efficiency, leading to a report ISAE3402 with a positive opinion of the auditor.

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

  1. The Company Finansowa Kompania ‘Prywatne Inwestycje’ Sp. z o.o. provides financial services, involving the acquisition of rights to the assignment of monetary claims under the loan agreements and together with the company ‘Inter-Risk Ukraina’ Sp. z d.o. leads to recover loan receivables purchased from KREDOBANK SA,
  2. In 2015 the Company generated a net profit in the amount of UAH 34.6 million (PLN 6 million). In 2014, the Company's net loss amounted to UAH 485 million (PLN 127.8 million).

PKO Towarzystwo Ubezpieczeń SA

  1. In April 2015 PKO Insurance Company was registered in the National Court Register, according to the obtained permission of the Financial Supervision Authority will operate in the field of property insurance.
  2. In 2015, were carried out and completed the formal process of establishing the Company. Achieved operational readiness.
  3. On 9 January 2016, PKO Insurance Company launched the first property insurance offer for inpidual customers of PKO Bank Polski SA, who are holders of credit cards. The proposed insurance provides protection in case of loss of income sources or hospital treatment of the insured resulting from an accident.
  4. On 13 February 2016, the Company began selling income losing insurance for cash loans borrowers and on 15 February 2016, the sale of real estate insurance, chattels, OC in private life, Assistance and loss of income for the clients of PKO Bank Polski SA and PKO Bank Hipoteczny SA borrowers mortgages.