Legal basis:

Article 17.1 MAR Regulation


The report:

With reference to the current report No. 9/2023 the Management Board of PKO Bank Polski S.A. (“Bank”), hereby informs that as a result of consultations undertaken by the Bank with the Polish Financial Supervision Authority Office ("PFSA Office") regarding the possibility of disbursing a part of the profit from reserve capital, the Bank received a negative opinion of the PFSA Office in this respect.

The PFSA Office emphasizes that taking into account numerous risks, including among others the continuing high uncertainty related to the potential costs of legal risk related to mortgage loans in CHF, possible deterioration of the credit quality of the portfolio driven by increased inflation, possible limitation of economic growth, as well as high costs of debt servicing by borrowers as well as aiming at ensuring the stability of the Bank's operations in subsequent periods, and  its further development, the PFSA Office maintains a cautious approach towards the dividend policy and actions that may result in a reduction of the capital base and does not consider the possibility of accepting actions resulting in a reduction in the Bank's capital base at the level of PLN 1.6 billion or less.