International cooperation

As at the end of 2013, the total financing of the Bank in the form of loans received from financial institutions amounted to approx. PLN 3.9 billion and comprised funds denominated in EUR and CHF.

In PKO Bank Polski SA, funds to cover the needs arising from the development of business operations, including the financing of projects relating to the small and medium enterprises segment, are also raised via international cooperation. The Bank raises funds on foreign financial markets, amongst others, through loans from international financial institutions (amongst others, the Council of Europe Development Bank and the European Investment Bank). As at the end of 2013, the total financing of the Bank in the form of loans received from financial institutions amounted to approx. PLN 3.9 billion and comprised funds denominated in EUR and CHF.

At the same time PKO Bank Polski SA participates in The 2020 European Fund for Energy, Climate Change and Infrastructure (‘The Marguerite Fund’), where increased its capital involvement in the above mentioned fund from EUR 25 250 thousand as at the end of 2012 to EUR 35 650 thousand as at the end of December 2013. PKO Bank Polski SA takes part in the above mentioned project as the only Bank operating in one of the new European Union members which was awarded the status of ‘Core sponsor’. The Marguerite Fund was established in 2009 for 20 years and currently implements investment projects such as green-field and brown-field in the energy and the road sector in Poland and other European Union countries.

KREDOBANK SA (a subsidiary of PKO Bank Polski SA) cooperates with financial institutions in 14 countries within the international settlements system. It has 45 nostro accounts and 45 loro accounts.

In 2013, PKO Leasing SA (a subsidiary of PKO Bank Polski SA) used the funds obtained from loans from the CEB and from EBI to finance the development of small and medium enterprises - the amount of funds used was EUR 37 million.

A broader description of the operations of PKO Bank Polski SA - the parent company of the PKO Bank Polski SA Group, including its business activities and financial results achieved in 2013 is presented in the Directors’ Report of PKO Bank Polski SA for the year 2013, which forms an integral part of the Annual Report of PKO Bank Polski SA