# PKO Bank Polski

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

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

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

* 15.02.2024 – Szymon Midera
* 13.04.2023 – 14.02.2024 Dariusz Szwed
* 10.08.2022 – 12.04.2023 Paweł Gruza
* 23.10.2021 – 09.08.2022 Iwona Duda
* 08.06.2021 – 22.10.2021 Jan Emeryk Rościszewski
* 01.10.2009 – 07.06.2021 Zbigniew Jagiełło
* 20.05.2008 – 07.07.2009 Jerzy Pruski
* 11.04.2007 – 20.05.2008 Rafał Juszczak
* 10.01.2007 – 11.04.2007 Marek Głuchowski
* 29.09.2006 – 10.01.2007 Sławomir Skrzypek
* 20.06.2002 – 29.09.2006 Andrzej Podsiadło
* 12.04.2000 – 20.06.2002 Henryka Pieronkiewicz (Rupik)
* 14.04.1994 – 08.12.1999 Andrzej Topiński
* 17.05.1991 – 07.02.1994 Stanisław Pietrasiewicz
* 12.04.1988 – 17.05.1991 Marian Krzak
* 01.08.1955 – 30.06.1975 Edward Walaszczyk
* 1953 – 31.07.1955 Czesław Liżewski
* 1952 – 01.07.1953 Jan Drohojowski
* 1950 – 1952 Józef Gitler-Barski