PKO BP BANKOWY PTE

The Company (or PTE) is the manager of PKO BP Bankowy Otwarty Fundusz Emerytalny (OFE or an open pension fund). Open pension funds form part of the mandatory pension system, in which they constitute the second pillar. Fund membership rules here have a statutory basis. The relevant provisions state that every person in employment outside of the agricultural sector and born after the date of 31 December 1968 is required to execute an agreement with one of the open pension funds involved in management of a certain part of the insured persons' social insurance contributions towards their pension insurance.

PKO BP Bankowy OFE is presently one of the best managed among the 14 pension funds operating in the Polish market. The company was established in the year 1998 by PKO Bank Polski together with Bank Handlowy w Warszawie. Since 2003 PTE has been a wholly-owned subsidiary of PKO Bank Polski.

As one of very few of its kind in the market, the Company has been a holder (since 2004) of a quality assurance certificate in management of open pension fund assets.

PKO BP Bankowy OFE has proved a reliable partner in building up pension savings within the second pillar system. There are a number of benefits that accrue to members of PKO BP Bankowy OFE from its operation within the PKO Bank Polski Capital Group. In addition to the financial organisation's long standing experience, its stability and the superior security of the assets under its management, there are many practical and technical benefits. PKO BP Bankowy OFE offers its customers superior accessibility of information on the pension fund collected on theri OFE accounts via all the modern channels. Users of the PKO Bank Polski electronic banking (iPKO and Inteligo) can use it at any time to check balances on their account or the update their personal data in the system.

In combination with its outstanding investment performance, PKO BP Bankowy OFE's strong association with the PKO Bank Polski brand and its utilisation of the Bank's distribution channels have contributed to substantial growth in the course of 2010 in the number of customers who have committed their funds to PKO BP Bankowy OFE's stewardship. As a result, total assets under management now exceed PLN 6.5 billion.