How much was the profit of the PKO BP group in 2023?

Luc Williams

As the bank announced in a statement, the result on business activities of the PKO BP Group for 2023 amounted to PLN 24,179 million and was PLN 6,925 million higher y/y, i.e. 40.1%.

“The consolidated net profit of the PKO Bank Polski SA Group in 2023 amounted to PLN 5,502 million and was PLN 2,190 million higher than that obtained in 2022,” the bank reported. Net interest income for last year amounted to PLN 18,318 million, which is PLN 6,894 million more than in the previous year.

ROE (return on equity) in 2023 was 13.3%, and the C/I ratio was 31.6%. Risk costs amounted to 0.5%.

The result on commissions and fees achieved in 2023 amounted to PLN 4,626 million and was PLN 128 million higher than in the previous year. Operating costs amounted to PLN 7,635 million and were lower by 1.7%. y/y.

“The total assets of the Bank Capital Group reached PLN 502 billion, exceeding the symbolic value of half a trillion zlotys for the first time. The results achieved made it possible to meet the requirements for the payment of dividend at the level of 75% of net profit for 2023, with the maximum amount of payment not exceeding annual profit less the profit earned in 2023 already included in own funds, which was noted by the Polish Financial Supervision Authority in its position from February this year,” Szymon Midera, a member of the supervisory board delegated to temporarily perform the duties of the bank's vice-president and managing the work of the management board, wrote in a letter.

He added that the PKO BP Group increased its shares in the savings market (21.3%), loans (18.1%), mortgage loan sales (35.9%) and the individual investment funds market (20.1%). ).

The bank announced that by the end of December 2023, PLN 298.5 thousand clients of the Capital Group submitted an application for suspension of loan or mortgage repayment as part of “credit holidays”, and the total number of suspended installments amounted to 2,108 thousand. “The realized loss due to statutory credit holidays, without the amortization effect, amounted, according to the Capital Group, to PLN 2,980 million compared to PLN 3,111 million recognized in July 2022,” PKO BP said.

The bank recalled that in 2023 it offered settlements for individual clients with active mortgage-secured loans in Swiss francs. By December 31, 2023, the bank had registered 57,000. applications for mediation, 37,195 mediations ended positively, 13,096 mediations ended negatively. The total number of settlements concluded by December 31, 2023 was 36,822, of which 35,154 settlements were concluded in mediation proceedings and 1,668 settlements in the course of court proceedings.

The Capital Group of Powszechna Kasa Oszczedności Bank Polski Spółka Akcyjna is one of the largest financial groups in Poland and Central and Eastern Europe. The parent company in the group is Powszechna Kasa Oszczedności Bank Polski.

In 2023, the total assets of the Bank's Capital Group reached PLN 502 billion (+PLN 70 billion y/y).

At the end of 2023, the branch network of PKO Bank Polski SA included 945 own branches (including branches, offices and centers) and 286 agencies. Over 3,000 are available to the Bank's customers. ATMs. At the end of 2023, employment in the PKO Bank Polski SA Group amounted to 25.6 thousand. full-time positions.

The State Treasury has 29.43 percent. bank shares.


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