Financial results


Bank 3.1

  • In 2017, PKO Bank Polski Group reported a net profit of PLN 3.1 billion, up 8% year-on-year and more than any other bank in the Polish banking sector.
  • The bank achieved a strong rofit on banking operations, and its net fee and commission income and net interest income were growing at a two-digit pace.
  • After 2017, the bank's capital ratios were at the regulatory levels that permitted dividend      payouts.
  • Successful digital transformation. World’s best mobile banking (IKO).

2017 was a very positive year for both the Polish economy and PKO Bank Polski. The GDP growth rate, mainly driven by investments, accelerated to 5 percent at the turn of 2017/2018. Consumers and entrepreneurs are optimistic about the future. Under such conditions, PKO Bank Polski generated the highest net profit in the banking sector: PLN 3.1 billion, which is 8% higher than in the previous year. Its recurrent net profit increased by significant 28%. This performance benefited from the strong increase in the profit on banking operations, which was PLN 12.6 billion at the end of the year and was driven mainly by the notably improved net interest income (up 11% year-on-year to PLN 8.6 billion) and net fee and commission income (up 10.2% year-on-year to PLN 3 billion).

“By implementing our mission, we consistently provide our clients with modern financial solutions adequate to their needs and ambitions. At the same time, we are expanding our business and generating sound profits, the highest in the banking sector. Our efforts have led to an increase in our total assets, customer base and market capitalisation: at the end of 2017, the market value of PKO Bank Polski was PLN 55 billion, which makes our bank the most valuable company listed on the Warsaw Stock Exchange. Our ambition goes far beyond being the biggest bank. Therefore, the prevailing theme of PKO Bank Polski’s development strategy is digital transformation, both of interbank processes and services offered to customers. This is the key enabler of the change whereby the biggest bank in Poland and in the region is becoming an agile organisation which focuses on and anticipates customers’ needs while remaining an industry leader. Each day, we support the development of Poland and Poles,” says Zbigniew Jagiełło, President of the Management Board of PKO Bank Polski.

Strengthening the leadership position in the Polish banking sector
In 2017, the balance sheet total of PKO Bank Polski Group increased by more than PLN 11 billion to nearly PLN 300 billion, which means that the distance to the next biggest bank in Poland significantly exceeds PLN 100 billion. The scale of operations is reflected in the bank’s market share in the key segments of the financial market. The Group is a leader in deposits (17.9% market share), loans (17.7%), leases (12.0%) and non-dedicated funds (17.2%).

Regulatory ability to pay dividends
As a result of a strict cost control in 2017, the bank’s C/I ratio net of banking tax fell to 46%, while, as a result of prudent risk management, the bank’s impaired loans ratio fell to 5.5%. At the same time, the cost of risk decreased to 71 bp. 2017 also saw a pronounced increase in capital ratios, which were at the levels which, from the regulatory perspective, allowed the bank to pay dividends.

The most valuable company on the Warsaw Stock Exchange and the most valuable financial brand in Poland
PKO Bank Polski is the most valuable company listed on the Warsaw Stock Exchange. At the end of 2017, its market value was PLN 55 billion. It is also a brand with the highest valuation in the domestic financial sector. In the Ranking of the Most Valuable Polish Brands in 2017 of the Rzeczpospolita daily, the brand was valued at PLN 2.7 billion. It is also the third most valuable brand in Poland.

The most mobile bank with world-wide recognition
The Bank is also a mobile banking leader in Poland. It has 2.6 million active mobile banking users, and its IKO app beats competition in terms of the number of active installations and users, “mobile-only” customers and the number of mobile transactions. Ever since the IKO was launched in 2013, the customers of PKO Bank Polski and Inteligo have made a total of 68 million transactions with their mobiles, including 16 million over the last 3 months alone. The app has a growing number of users, who give it the highest ratings. As a result, the mobile app of PKO Bank Polski came top in the prestigious ranking of banking applications, as compiled by the British Retail Banker International magazine, which looked at banks from all over the world.

Trade finance leader
PKO Bank Polski is a trusted trade finance partner. With its innovative solutions, the bank is developing a wide array of services facilitating foreign operations. The bank follows Polish customers wherever they need the support of a Polish bank, and converts its initiatives into business success. For example, the foreign corporate branches of PKO Bank Polski in Frankfurt and Prague have already achieved the expected profitability. The bank also supports foreign expansion of Polish companies by developing a network of correspondent banks for easier foreign settlements, and expanding its analytical support for companies, available in the form of the Export Support Platform. The efforts undertaken by PKO Bank Polski were appreciated by experts from the Global Finance magazine who, in The World's Best Trade Finance Providers ranking prepared together with industry analysts and market experts, hailed PKO Bank Polski as the national leader in trade finance in 2018.

The online FX platform of PKO Bank Polski is conquering the market
In January 2018, PKO Bank Polski gave its customers access to a foreign exchange functionality of its iPKO online transaction service. After just one and a half months, the service users made more than 15,000 transactions for a total amount of PLN 100 million. The online FX platform can be used to make transactions in as many as 28 currency pairs. In combination with complementary products, such as the multi-currency card, the platform supports quick daily payments in foreign currencies. The new service and the related products help retail customers manage their finances better.

Strong increase in the TFI market share
In 2017, PKO Bank Polski Group consolidated its position in the mutual funds segment. PKO TFI recorded solid organic growth from 13.3% to 14.8%, and the acquisition of KBC TFI, which now operates under the Gamma TFI brand, allowed it to increase its market share to more than 16%. At the end of the year, both investment fund companies had a total of nearly PLN 30 billion in assets under management. The expected merger of both TFIs to take place in the coming months is going to give an extra boost to the rapid development of PKO TFI, which is already a leader in the retail funds segment. As a result, customers will have access to a more comprehensive savings offer.

Brokerage House of PKO Bank Polski as a market leader
The bank is No. 1 in the corporate and investment banking segments, with the highest volume of financing extended to Polish companies. In 2017, the bank participated in the largest transactions in the Polish capital market, including the IPO/SPO of Play Communications, Dino, Famur and Rafako, and in the largest corporate finance deals. The Brokerage House of PKO Bank Polski ended 2017 as the most active broker in the equity market of the Warsaw Stock Exchange. With PLN 45.6 billion worth of transactions closed, it gained 9.6% market share, outpacing its competitors. The Brokerage House of PKO Bank Polski is steadily building its leading position among stockbroking companies, and over the recent years it has gained a stronger foothold in all its business segments.


PKO Bank Polski is the undisputable leader of the Polish banking sector. In 2017, its consolidated net profit amounted to PLN 3.1 billion (the largest in the Polish banking sector) and the value of assets reached almost PLN 300 billion. The Bank is the basic provider of financial services for all customer segments, achieving the highest shares in the deposit market (17.9 percent), loans (17.7 percent), leasing market (12.0 percent) and in the market of investment funds not dedicated (17.2 percent). With over 8.3 million payment cards, the bank is the largest debit and credit card issuer in Poland with a market share of over 21%. Thanks to the development of digital tools, including the IKO application, which already has 2.1 million active applications, PKO Bank Polski has become the most mobile bank in Poland. The Capital Group's companies strengthen the Bank's strong position. The Brokerage House of PKO Bank Polski is a leader in terms of the number and value of IPO and SPO transactions on the capital market. The effective implementation of the growth strategy meant that at the end of 2017, PKO Bank Polski was the most valuable company listed on the Warsaw Stock Exchange.