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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, and conducts investment, development and debt collection operations. In 2013 the Group provided also card transaction management and settlement services.

General information on the selected the PKO Bank Polski SA Group entities:

PKO Towarzystwo Funduszy Inwestycyjnych SA

Value of investment found assets (in PLN billion)

  1. In 2013, the Company recorded a net profit in the amount of PLN 35.0 million (in 2012, the Company’s net profit amounted to PLN 23.8 million). 
  2. The asset value of the funds managed by the Company amounted to PLN 14.4 billion as at the end of 2013, which represents the increase in the assets by 42.8% comparing to the end of 2012. An increase of the assets value was associated mainly with positive net result on sales and favourable situation on the stock exchange.
  3. PKO TFI SA ranks fourth place in terms of the net asset value with 7.6%* share in the investment funds market.
  4. In the third quarter of 2013, the Company launched the Employee Pension Plan for Employees of PKO Bank Polski SA and PKO BP BANKOWY PTE SA run in the funds managed by PKO TFI SA.
  5. As at 31 December 2013, the Company managed 38 investment funds and subfunds.

* Source: Chamber of Fund and Asset Management.

PKO BP BANKOWY PTE SA

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

  1. In 2013, PKO BP BANKOWY PTE SA recorded a net profit in the amount of PLN 14.4 million (in 2012, the Company’s net profit amounted to PLN 16.8 million). 
  2. As a result of obtaining a positive decision of the PolishFinancial Supervision Authorityand the President of the Office of Competition and Consumer Protection, PKO BP BANKOWY PTE SA from 16 April 2013 took over the management of Otwarty Fundusz Emerytalny POLSAT.
  3. On 19 July 2013, there was a transfer of assets of OFE POLSAT to PKO BP Bankowy OFE and thus the process of merging the above mentioned open pension funds was completed. Savings collected by Members of OFE POLSAT were converted and fully transferred to the accounts of these Members of the PKO BP Bankowy OFE.
  4. As at the end of 2013, the net assets value of PKO BP Bankowy OFE (merged) amounted to PLN 13.2 billion, which is an increase of 11.6% in comparison to assets of PKO BP Bankowy OFE and OFE POLSAT as at the end of 2012. At the end of 2013, PKO BP Bankowy OFE ranks 8th position in the market.
  5. As at the end of December 2013, PKO BP Bankowy OFE had 957 thousand members, which gives seventh position in the market.
  6. According to the ranking of the Polish Financial Supervision Authority, PKO BP Bankowy OFE for the period from 30 September 2010 to 30 September 2013 reached a rate of return at the level of 20.276% (the weighted average rate of return of 19.751%) holding thereby 6th place in the ranking of OPF for that period.

* Source: www.knf.gov.pl

Number of PKO BP Bankowy OPF's members (in thousand)*

*In 2013 – after takeover of management of OFE POLSAT.

The PKO Leasing SA Group (formerly named: the Bankowy Fundusz Leasingowy SA Group)

Valu of asstes under lease (in PLN billion)

  1. In 2013, the Group recorded a net profit in the amount of PLN 17.0 million (in 2012, the Group’s net profit amounted to PLN 10.9 million).
  2. In 2013, the Group entities leased out assets with a total value of PLN 2.5 billion, i.e. an increase of 23.6% compared with 2012. The increase in sale is a result of a synergy with the Bank and the Company's development.
  3. At the end of December 2013, in terms of the value of assets leased, the PKO Leasing Group ranked 3rd position on the leasing services market with 7.2% market share*.
  4. The total carrying amount of the lease investments of the PKO Leasing Group entities amounted to PLN 3.8 billion as at the end of December 2013.
  5. In 2013, the Group began offering leasing services in Sweden through a newly formed company - PKO Leasing Sverige AB.

* Source: Polish Leasing Association

The Bankowe Towarzystwo Kapitałowe SA Group

Value of factoring turnover of subsidiary (in PLN billion)

  1. In 2013 the Group recorded a net profit in the amount of PLN 1.8 million (in 2012, the Group’s net profit amounted to PLN 0.5 million). 
  2. In 2013, PKO BP Faktoring SA – a subsidiary of BTK SA – was providing domestic and export factoring services, both with and without the acceptance of risk and reverse factoring.
  3. In 2013, the value of factoring turnover amounted to PLN 2.8 billion (in the corresponding period of 2012 this value was PLN 3.0 billion) and the number of customers increased to 166.
  4. As at the end of December 2013 PKO BP Faktoring SA ranked eighth place among factoring companies associated in the Polish Factors’ Association, with a market share of 3.0%.

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

The gross loan portfolio ( in UAH million)

  1. As at the end of December 2013, the KREDOBANK SA Group incurred a net loss in the amount of UAH 354 million (PLN 137.6 million). In 2012, the net loss of KREDOBANK SA Group amounted to UAH 92.0 million (PLN 36.8 million).
  2. In 2013, the Company’s loan portfolio (gross) increased by UAH 248 million, i.e. by 10.1% and amounted to UAH 2 698 million as at 31 December 2013; the gross loan portfolio as denominated in PLN increased by PLN 63 million, i.e. by 6.7% and amounted to PLN 1 000 million as at the end of 2013.
  3. In 2013, clients' term deposits of KREDOBANK SA decreased by UAH 198 million, i.e. by 9.6% and amounted to UAH 1 862 million as at the end of 2013; term deposits as denominated in PLN decreased by PLN 98 million, i.e. by 12.4% and amounted to PLN 690 million as at the end of the year.
  4. As at 31 December 2013, the network of KREDOBANK SA branches consisted of 1 branch and 130 subordinated branches in 22 out of 24 Ukrainian districts and in the Autonomous Republic of the Crimea.

The Qualia Development Sp. z o.o. Group

Sales of apartments - number of contracts signed

  1. In 2013, the Qualia Development Sp. z o.o. Group incurred a net loss in the amount of PLN 49.7 million (in 2012, the Group’s net loss amounted to PLN 1.4 million).
  2. In 2013, the Group's activities were focused on:
    • completing projects in Sopot (residential building with an office function), in Gdańsk Jelitkowo (hotel facility Golden Tulip Residence Gdańsk and residential buildings) and in Warsaw (Nowy Wilanów),
    • conducting design work and administrative procedures to obtain construction permits for: the Golden Tulip Zakopane hotel and apartment building in Zakopane, the Royal Tulip hotel and apartment building in Jurata and for properties of PKO Bank Polski SA located in Warsaw at Nowogrodzka Street and Sienkiewicza Street,
    • implementing a new model of selling apartments based on the cooperation of Giełda Nieruchomości Wartościowych Sp. z o.o. with a network of third-party agents.
  3. As of 31 December 2013 Fort Mokotów Inwestycje Sp. z o.o.- former subsidiary of the Bank, became a subsidiary of Qualia Development Sp. z o.o.

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

  1. Finansowa Kompania ‘Prywatne Inwestycje’ Sp. z o.o. provides factoring services and together with ‘Inter-Risk Ukraina’ Additional Liability Company debt collection of portfolio of liabilities purchased from KREDOBANK SA.
  2. The company incurred during 2013 net loss amounting to UAH 199 million (PLN 77.4 million).