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{{Short description|Largest Polish banking company}}
{{Short description|Largest Polish banking company}}
{{Distinguish|Bank Pekao}}
{{Distinguish|Bank Pekao|Bank Polski|Bank Polski SA}}
{{Infobox company
{{Infobox company
| name = Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna
| name = Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna
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| image_size = 250px
| image_size = 250px
| image_caption = PKO BP in Warsaw
| image_caption = PKO BP in Warsaw
| type = [[S.A. (corporation)|Spółka akcyjna]]<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>
| type = [[S.A. (corporation)|Spółka akcyjna]]<ref name=Statut />
| traded_as = {{Unbulleted list|{{WSE|PKO}}|[[WIG30]] component}}
| traded_as = {{Unbulleted list|{{WSE|PKO}}|[[WIG30]] component}}
| ISIN = {{ISIN|sl=n|pl=y|PLPKO0000016}}
| ISIN = {{ISIN|sl=n|pl=y|PLPKO0000016}}
| industry = [[Banking]], [[financial services]]
| industry = [[Banking]], [[financial services]]
| products = [[Retail banking|Consumer banking]], [[Commercial bank|corporate banking]], [[Financial services|finance and insurance]], [[investment banking]], [[mortgage loan]]s, [[private banking]], [[private equity]], [[savings]], [[securities]], [[asset management]], [[wealth management]], [[credit card]]s
| products = [[Retail banking|Consumer banking]], [[Commercial bank|corporate banking]], [[Financial services|finance and insurance]], [[investment banking]], [[mortgage loan]]s, [[private banking]], [[private equity]], [[savings]], [[securities]], [[asset management]], [[wealth management]], [[credit card]]s
| key_people = Dariusz Szwed (Acting [[CEO]])<ref name="bankier.pl" />
| key_people = Szymon Midera (Acting [[CEO]])<ref name="reuters.com" />
| net_income = {{increase}} [[Polish złoty|PLN]] 2.645 billion ($580 million)<small> (2020)</small><ref>{{Cite web |url=https://www.pkobp.pl/media_files/5e0d7781-8076-42e2-8a7b-198d8ad6e720.pdf |language=pl |title=INFORMACJA O WSTĘPNYCH NIEZAUDYTOWANYCH SKONSOLIDOWANYCH WYNIKACH FINANSOWYCH GRUPY KAPITAŁOWEJ PKO BANKU POLSKIEGO S.A. ZA IV KWARTAŁ 2020 ROKU I 2020 ROK |access-date=17 November 2022}}</ref>
| net_income = {{increase}} [[Polish złoty|PLN]] 5.5 billion <small>(2023)</small><ref name="auto1"></ref>
| assets = {{increase}} [[Polish złoty|PLN]] 438 billion<ref>{{cite news|url=https://inwestycje.pl/gielda/pko-bp-mial-237-mln-zl-straty-netto-4385-mld-zl-aktywow-w-iii-kw-2022/ |language=pl |title=PKO BP miał 237 mln zł straty netto, 438,5 mld zł aktywów w III kw. 2022 |website=inwestycje.pl |access-date=17 November 2022}}</ref> ($103.7 billion) (2022)<ref>{{Cite web|url=https://www.forbes.com/lists/global2000/?sh=7c978b55ac04 |title=The Global 2000 |website=[[Forbes]] |access-date=18 November 2022}}</ref>
| assets = {{increase}} [[Polish złoty|PLN]] 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=[[Forbes]] |access-date=15 September 2024}}</ref>
| num_employees = 25,800 <small>([[full-time equivalent|FTE]], 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>
| num_employees = 25,800 <small>([[full-time equivalent|FTE]], 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}}
| homepage = {{URL|http://www.pkobp.pl}}
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| location = [[Warsaw]], Poland
| location = [[Warsaw]], Poland
}}
}}
'''Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna''' ({{lang-en|General Savings Bank – Bank of Poland}}, also known as ''PKO Bank Polski S.A.'', ''PKO BP S.A.'')<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> is a [[Poland|Polish]] multinational banking and financial services company headquartered in [[Warsaw]], [[Poland]]. It is among the largest financial institutions in Poland, and is also one of the largest financial groups in [[Central Europe|Central]] and [[Eastern Europe]],<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> with 1,145 branches located in Poland and abroad and a [[market capitalization]] of [[Polish złoty|PLN]] 52 billion (13.8 billion [[United States dollar|USD]] equivalent) as of 2018.
'''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]].<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>


It provides services to both individual and business clients; the core business activity of PKO Bank Polski being [[retail bank]]ing. The full Polish name roughly translates to "General Savings Bank", popularly, only the [[acronym]] "PKO" is used by clients.
PKO BP provides services to both individual and business clients, with a core business in Polish [[retail bank]]ing. 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 [[United States dollar|US dollar]].


==History==
==History==
[[File:Gmach PKO ul. Świętokrzyska róg Jasnej przed 1939.jpg|thumb|PKO head office on Świętokrzyska Street in Warsaw in the 1930s]]
⚫
On 7 February 1919, by the order of the [[Naczelnik Państwa|Head of State]] [[Józef Piłsudski]], the Postal Savings Bank was created. Its first director was appointed on 28 December 1919, [[Hubert Linde]] [<nowiki/>[[:pl:Hubert_Linde|pl]]]. For many years during the [[Second Polish Republic]], Henryk Gruber 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. The first goal of the PKO was to introduce the [[Polish zloty]] into circulation instead of the [[Polish mark]] (as a derivative of the [[Papiermark|German mark]]). 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.<ref>„Łódź w Ilustracji”, 1938, nr 1. s. 2 (grupa uczestników uroczystości poświęcenia łódzkiego lokalu Zrzeszenia; 9 XII 1937)</ref>
[[file:Dom pod Sedesami w Warszawie.jpg|thumb|left|PKO building on Sienkiewicza Street in Warsaw, before 1950]]
[[File:Gmach PKO Warszawa.JPG|thumb|The same building in 2015, used by [[Polish Post]]]]
⚫
On 7 February 1919, by the order of the [[Naczelnik Państwa|Head of State]] [[Józef Piłsudski]], the Postal Savings Bank was created. Its first director was appointed on 28 December 1919, {{ill|Hubert Linde|pl}}. For many years during the [[Second Polish Republic]], {{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 [[Kraków]], [[Lwów]], [[Łódź]], [[Poznań]], and [[Katowice]]. From 1920, the bank had a legal personality as a state institution.
During the [[Occupation of Poland (1939–1945)|German occupation of Poland]], in the [[Second World War]], Bank Polski operated under German management.

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>

During the [[Occupation of Poland (1939–1945)|German occupation of Poland]], in the [[Second World War]], 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>


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 ({{lang-pl|Powszechna Kasa Oszczędności}}). In 1974, the PKO offer was enriched with a savings and settlement account for natural persons (commonly known as ROR).
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 ({{lang-pl|Powszechna Kasa Oszczędności}}). In 1974, the PKO offer was enriched with a savings and settlement account for natural persons (commonly known as ROR).
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In 2019, they were announced the title sponsor for the Polish [[Ekstraklasa]].<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>
In 2019, they were announced the title sponsor for the Polish [[Ekstraklasa]].<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=[[Reuters]]}}</ref>


==Operations==
==Operations==
⚫
[[file:MJN rotunda.jpg|thumb|[[PKO Rotunda]] in Warsaw]]
⚫
[[File:PKO BP, Wielopole, Kraków.jpg|thumb|{{ill|PKO building in Kraków|pl|Gmach PKO w Krakowie}}, completed 1925]]
[[File:PKO BP Kościuszki 15 Lodz.jpg|thumb|{{ill|PKO building in Łódź|pl|PKO BPs sæde i Łódź}}, originally {{lang|pl|Łódzki Bank Handlowy}}]]
[[File:KredoBank HeadOffice.jpg|thumb|[[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 [[Polish złoty|PLN]] (more than 2 billion [[US dollars]]). Its assets are worth more than 285 billion [[Polish złoty|PLN]] (around 80 billion [[US dollars]]). Bank was ranked 510 in the [[Forbes Global 2000]] 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 [[Takeover|acquisition]] of [[KREDOBANK|KredoBank]] (Кредобанк). The company is headquartered in central [[Warsaw]].
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 [[Polish złoty|PLN]] (more than 2 billion [[US dollars]]). Its assets are worth more than 285 billion [[Polish złoty|PLN]] (around 80 billion [[US dollars]]). Bank was ranked 510 in the [[Forbes Global 2000]] 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 [[Takeover|acquisition]] of [[KREDOBANK|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 [[brand]]s 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.<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>
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 [[brand]]s 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.<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 [[Polish zloty]] 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==
==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]]).<ref>{{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>
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]]).<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==

⚫
[[file:MJN rotunda.jpg|thumb|[[Rotunda (PKO) |Rotunda PKO]] in Warsaw]]
⚫
[[File:PKO BP, Wielopole, Kraków.jpg|thumb|right|PKO Bank Polski in Kraków]]
[[File:Szczecin Palac Ziemstwa 2.jpg|thumb|right|Main building of PKO Bank Polski in [[Szczecin]]]]
{| class="wikitable sortable" style="text-align:center;"
{| class="wikitable sortable" style="text-align:center;"
! Year
! Year
! 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 [[Polish złoty|PLN]])
! 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 [[Polish złoty|PLN]])
! Assets<ref name="auto"/><br/>(in billion [[Polish złoty|PLN]])
! Assets<ref name="auto"/><br/>(in billion [[Polish złoty|PLN]])
|-
|2023
|5.5
|501.5
|-
|2022
|3.3
|438
|-
|2021
|4.9
|418
|-
|2020
| -2.944
|345
|-
|2019
|3.835
|317
|-
|-
|2018
|2018
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== Presidents ==
== Presidents ==
{{Columns-list|colwidth=35em|* 13.04.2023 – 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>
{{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=[[Reuters]] |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=[[Reuters]] |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 [[Paweł Gruza]]<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>
* 10.08.2022 – 12.04.2023 [[Paweł Gruza]]<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 [[Iwona Duda]]<ref name="money.pl" />
* 23.10.2021 – 09.08.2022 [[Iwona Duda]]<ref name="money.pl" />
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==See also==
==See also==
⚫
{{Portal|Banks}}
*[[Economy of Poland]]
*[[Economy of Poland]]
*[[Warsaw Stock Exchange]]
*[[Warsaw Stock Exchange]]
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==External links==
==External links==
*{{Commons category inline|PKO BP}}
*{{Commons category-inline|PKO BP}}
* {{Official website|1=http://www.pkobp.pl/index.php/id=e_about/section=ogol}} {{in lang|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}}
⚫
{{Portal|Banks}}

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

{{DEFAULTSORT:Powszechna Kasa Oszczednosci Bank Polski}}
{{DEFAULTSORT:Powszechna Kasa Oszczednosci Bank Polski}}
[[Category:Banks of Poland]]
[[Category:Banks of Poland]]
[[Category:Companies based in Warsaw]]
[[Category:Companies based in Warsaw]]
[[Category:Companies listed on the Warsaw Stock Exchange]]
[[Category:Companies listed on the Warsaw Stock Exchange]]
[[Category:Companies in the WIG30]]
[[Category:Companies in the Central European Blue Chip Index]]
[[Category:Polish brands]]
[[Category:Polish brands]]
[[Category:Postal savings system]]
[[Category:Postal savings system]]

Latest revision as of 11:18, 15 September 2024

Not to be confused with Bank Pekao, Bank Polski, or Bank Polski SA.
Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna
Company typeSpółka akcyjna[1]
ISINPLPKO0000016
IndustryBanking, financial services
Founded7 February 1919; 105 years ago (1919-02-07) (as Pocztowa Kasa Oszczędności)[2][3]
1948 (as Powszechna Kasa Oszczędności)[4]
Founder
HeadquartersWarsaw, Poland
Key people
Szymon Midera (Acting CEO)[5]
ProductsConsumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management, wealth management, credit cards
Increase PLN 5.5 billion (2023)[6]
Total assetsIncrease PLN 501.5 billion[6] ($124.6 billion) (2023)[7]
Number of employees
25,800 (FTE, 2020)[8]
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.[9][10]

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

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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,[clarification needed] e.g. in Warsaw, in Łódź.[11]

During the German occupation of Poland, in the Second World War, Bank Polski operated under German management.[12]

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.[13]

On 2 February 2024 the bank dismissed eight out of eleven members of the supervisory board.[14] 5 days later, on 7 February 2024, the CEO of the bank Darius Szwed resigned, leaving the bank the following week.[15] On 15 February Szymon Midera was appointed as acting CEO.[16]

Operations

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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.[17] 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.[18] 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.[19]

In 2023, the bank's total assets surpassed half a trillion Polish zloty level for the first time in its history.[20]

Ownership

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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).[6]

Financial data

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Year Net profit[21]
(in billion PLN) 		Assets[21]
(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

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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.[22]

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

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See also

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References

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  1. ^ "Statut: Powszechna Kasa Oszczędności bank Polski Spółka Akcyjna" (PDF). Archived from the original (PDF) on 2021-01-10. Retrieved 2020-05-28.
  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
  5. ^ a b "PKO BP's supervisory board appoints Szymon Midera as acting CEO". Reuters. reuters.com. Retrieved 2024-04-04.
  6. ^ a b c "Financial results 3Q& 9M 2020" (PDF). PKO Bank Polski Investor Relations website. Third Quarter 2020. p. 44.
  7. ^ "The Global 2000". Forbes. Retrieved 15 September 2024.
  8. ^ "Charakterystyka działalności" (in Polish). Retrieved 18 November 2022.
  9. ^ "EBRD invests in PKO Bank Polski subordinated bonds". Retrieved 2019-06-06.
  10. ^ "PKO BANK POLSKI W LICZBACH". Retrieved 2019-06-07.
  11. ^ „Łódź w Ilustracji”, 1938, nr 1. s. 2 (grupa uczestników uroczystości poświęcenia łódzkiego lokalu Zrzeszenia; 9 XII 1937)
  12. ^ "Pocztowa Kasa Oszczędności historycznie początkiem działania PKO BP - Historia - polskieradio.pl". polskieradio.pl (in Polish). Retrieved 2024-04-04.
  13. ^ "PKO Bank Polski partnerem tytularnym Ekstraklasy" (in Polish). ekstraklasa.org. 28 June 2019. Retrieved 8 February 2021.
  14. ^ "Nowe rozdanie w PKO BP. Zmiany w największym banku w Polsce". www.money.pl (in Polish). 2024-02-02. Retrieved 2024-04-04.
  15. ^ "Trzęsienie ziemi w największym polskim banku. Prezes odchodzi". www.money.pl (in Polish). 2024-02-07. Retrieved 2024-04-04.
  16. ^ "PKO BP's supervisory board appoints Szymon Midera as acting CEO". Reuters. Retrieved 2024-04-04.
  17. ^ "Forbes Global 2000". Forbes.
  18. ^ "New current accounts in PKO Bank Polski's offer". PKO Bank Polski. 2011-03-10. Archived from the original on 2012-07-21.
  19. ^ "The BrandFinance® Banking 500". Brand Finance.
  20. ^ "Podsumowanie roku". pkobp.pl (in Polish). Retrieved 15 September 2024.
  21. ^ a b "PKO Bank Polski/Investor Relations".
  22. ^ "PKO Bank Polski/Capital Group".
  23. ^ "Dariusz Szwed nowym prezesem PKO BP. Zmiany w zarządzie banku". bankier.pl. 13 April 2023. Retrieved 2023-06-20.
  24. ^ "CEO of Poland's biggest bank PKO BP steps down". Reuters. reuters.com. Retrieved 2024-04-04.
  25. ^ a b "Największy polski bank ma nowego prezesa. To były wiceminister finansów". money.pl. 9 August 2022. Retrieved 2023-05-02.
  26. ^ "Jan Emeryk Rościszewski rezygnuje. Kim jest były prezes PKO BP?". businessinsider.com.pl. 14 October 2021. Retrieved 2023-05-02.
  27. ^ "Sprzedał prawie wszystkie akcje i zamyka drzwi. Prezes PKO BP odchodzi". businessinsider.com.pl. 7 June 2021. Retrieved 2023-05-02.
  28. ^ "Polish bank PKO BP appoints ex c.banker Pruski CEO". reuters.com. 12 April 2008. Retrieved 2023-05-02.
  29. ^ "Juszczak: Jagiełło robił i za mało, i za wolno. Działał za mało agresywnie [WYWIAD]". gazetaprawna.pl. 25 June 2021. Retrieved 2023-05-02.
  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.
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