Report No. 25/2015

Legal basis:

Article 56 par. 1 pt. 1 of the Act on Public Offerings and the Conditions for Admitting Financial Instruments to the Organised System of Trading and on Public Companies of 29 July 2005 read together with Article 154 par.1 of the Act on Trading in Financial Instruments of 29 July 2005 

Content of the Report:

The Management Board of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (the “Bank”) announces that on 6 May 2015 it adopted a resolution and decided to submit a recommendation to the Annual General Meeting of the Bank on distribution of the profit earned by the Bank in the period from 1 January 2014 till 31 December 2014 in the amount of PLN 3 079 471k and the unappropriated profit of previous years resulted from the merger of the Bank and Nordea Bank Polska S.A. (in the amount of PLN 132 793k) of the total amount of PLN 3 212 264k pointing its appropriation for:

1)     reserve capital in an amount of PLN 1 900 000k

2)     other reserves in an amount of PLN 62 264k

3)     the remaining part of the profit in an amount of PLN 1 250 000k to be  unappropriated.

The decision on the recommended distribution of the profit for 2014 is comprehensive with the Bank’s decision on going by the recommendation of the Polish Financial Supervision Authority (“PFSA”) to withhold the entire net profit earned by the Bank in the year 2014 - until the supervision authority determines the additional capital requirement for the Bank. About the recommendation of the PFSA the Bank informed in the current report No. 15/2015.