[GRI 102-3] The Bank's Capital Group is a leading financial institution in Central and Easter Europe with the bank's head office located in Warsaw. [GRI 102-5] PKO Bank Polski, the parent entity of the group, is a joint-stock company listed on the Warsaw Stock Exchange since 2004. It is the largest commercial bank in Poland in terms of its asset value and equity, value of loans and deposits, size of its distribution network, and number of customers and employees. [GRI 102-2] It is a universal bank providing deposit and lending services to individuals and legal entities, conducting its operations in the retail, and corporate and investment segments.

The bank has 12 direct subsidiaries in which it holds 100% of shares. [GRI 102-43] Due to such ownership structure of the group, the subsidiaries report directly to the bank, which acts as their parent entity. Through its subsidiaries, the group offers mortgage loans and other specialized financial services including leasing, factoring, investment funds, pension funds and insurance, fleet management services, transfer agent services, technological solutions and real estate management, as well as conducting banking operations, and providing debt collection and financial services. [GRI 102-7] The bank offers its services through a network of 1004 branches and 492 agencies in Poland, and delivers them to 11 mln retail customers and 16.5 thousand corporate customers. [GRI 102-4, 102-6] The group operates in the territory of the Republic of Poland. Through its subsidiaries it also operates in Ukraine, Sweden and Ireland, and through its branches in Germany, Czech Republic and Slovakia. [GRI 102-9] It cooperates with business partners as a buyer of goods and services, and as a principal for the agency and outsourcing services.


11 mln


16.5 thousand


1 496

 Customers of the bank
in the retail segment
 Customers in the corporate
and investment segment

Branches and agencies of PKO Bank Polski at the end of 2020

The group stands out on the Polish market in terms of its high financial results, which ensure its stable and safe development. At the end of 2020, the bank was the second-largest company listed on the WSE, its value during the last session reaching PLN 35.9 billion. The results of the European stress tests confirm that PKO Bank Polski is one of the safest banks in Europe.


PLN 377 bln


PLN 35.9 bln



 Assets of the PKO Bank Polski
Group at the end of 2020
 Market value of the bank
at the end of 2020

Share in the loans market
at the end of 2020

The group retains leading shares in the Polish savings market (18.3%), loans (17.6%) and the market for investment funds of individuals (19.2%). PKO Bank Polski is a leader in terms of the number of current accounts and payment cards maintained. The group’s portfolio of financing granted to customers in 2020 stood at PLN 235.8 billion. By the end of 2020, amounts due to customers reached over PLN 282 billion.

[GRI 102-13] The bank is a member of many industry and regional organizations (e.g. Association of Polish Banks, Credit Information Bureau, NATO Industry Cyber Partnership, Institute of International Finance), and many business organizations such as chambers of commerce and business associations (e.g. Polish Association of Listed Companies, Association of Entrepreneurs and Employers, Federation of Polish Entrepreneurs).

More about Corporate governance principles

The management structure of PKO Bank Polski and entities of the group is based on the standard market principles of management. The bank’s organizational structure is divided into 9 areas, which reflect the areas of its business operations: the Area of the President of the Management Board, the Corporate Banking, Analysis and Administration Area, the Finance and Accounting Area, the International and Transaction Banking and Cooperation with Local Authorities and Government Agencies Area, the Operational Area, the IT Area, the Risk Management Area, the Corporate and Investment Banking Area and the Retail Market Area.




38 months



 Members of the Management Board of PKO Bank Polski

Average Board tenure
(as of 07.2021)


Shares owned by
the Board members

Management of the group's social and environmental issues is dispersed over different organizational units. Activities in this respect are performed by the respective competent organizational units in all 9 business areas. A new organizational unit was set up in the Finance and Accounting Area in 2019 – the Group's Integrated Reporting Office, while at the beginning of 2020 the bank launched an ESG project. Its aim is to improve the quality of non-financial reporting and the bank’s reputation as an institution whose objectives are not limited to financial matters, but which also addresses the social, environmental and corporate governance objectives. The project's assignments are coordinated by a steering committee, which consists of 3 members of the Management Board.

More about the Management Board

Diversity management at the bank covers all employees, governing bodies and key managers. Diversity means that people are important irrespective of their gender, age, health, sexual orientation, religion, marital status or country of origin. Diversity initiatives have an impact on various aspects of the group's operations and their aim is to ensure respect for other people, their equal treatment and using each employee's potential. Diversity initiatives are disclosed to the Supervisory Board and the Management Board on an annual basis.

PKO Bank Polski adopted a set of ESG metrics and integrated them with the non-financial objectives of the Bank's Capital Group for the following years. The fulfilment of objectives will be verified using reliable and fully measurable data. One of the adopted goals is to maintain a high percentage of women in key managerial positions. The bank has committed itself that in 2025 such percentage will not be lower than 35%.

The bank's Code of Ethics and Employment regulations include provisions for prevention of discrimination due to gender, age, disability, religion or faith, sexual orientation, race, ethnic origin, nationality, political convictions, membership in unions or type of the employment contract. [GRI 405-1] Diversity management also pertains to the members of the Supervisory Board and the Management Board of PKO Bank Polski and the key managers. Management and supervisory personnel includes people of different gender, age and experience.

Diversity according to gender, age and experience

 Key management
Management BoardSupervisory Board
In total:
  age >60 years871135
  age 51-60 years67623323
  age 41-50 years1671765532
  age 30-40 years4961--21
  in office >20 years18453----
  in office 15-20 years6641----
  in office 10-15 years354921--
  in office 5-10 years310212-1
  in office <5 years361661010

The bank also introduced provisions that set the directions for selecting, appointing and planning for succession, including staff resources and assessing suitability of the Management Board members and persons having key functions at the bank. They are assessed in terms of their competence, knowledge and skills, adequacy of experience for the position and reputation defined as sufficiently unblemished opinion, honesty and ethical behaviour. As a result of these regulations, the Supervisory Board decides on the selection and assessment of the Management Board members, while the Management Board follows a similar procedure for the assessment of the Material Risk Takers (MRTs). The Supervisory Board further monitors the effectiveness of the adopted policy and makes changes as appropriate by taking into account the recommendations of the Committee for Nominations and Remunerations.

[GRI 102-16] The main document governing ethics at PKO Bank Polski is the Code of Ethics. As well as supporting the organizational culture at the bank, it promotes and seeks to implement the bank's values such as reliability, customer satisfaction, entrepreneurship and continuous improvement. These values should be followed by all employees of the bank, regardless of their position or function. Apart from the Code of Ethics, we also apply the Code of Banking Ethics (Principles of good banking practice) by the Association of Polish Banks.

The bank intensively promotes ethical conduct among its employees. The Ambassadors of Ethics create a new social function at the bank. They are chosen in a general election by all employees from candidates that are positively assessed and respected in and outside the banking profession. Their role involves supporting the employees who report violations of their rights in the area of ethics (such as mobbing or discrimination) and supporting the employer in creating solutions that strengthen its values, principles, norms of conduct and ethical attitudes, discussed in the bank's Code of Ethics. In the first election in 2019, we selected 12 Ambassadors of Ethics whose term will last for 2 years. For 2021, an ethics training module has been developed for all employees.

The bank's Code of Ethics covers four areas: the bank's relations with customers, the relations between the bank's employees, the bank's approach to cooperation with its business partners, and its activities outside main business operations. The bank's Code of Ethics and its Employment Regulations contain provisions regarding prevention of discrimination due to gender, age, disability, religion or faith, sexual orientation, race, ethnic origin, nationality, political convictions, membership in unions or type of the employment contract.

In addition to the above, the bank’s Code of Ethics and its Employment Regulations address such issues as not using any confidential information for private purposes, taking no actions that could be in conflict with one's employment duties, prohibiting lobbying activities and preventing corrupt practices. A dedicated module on ethics makes part of every induction training for all new employees. In order to counteract breaches of the principles of ethics, the bank applies a number of separate internal regulations for counteracting mobbing and discrimination, and handling complaints for violation of employee rights. The bank also investigates each case for non-compliance and violations related to the conflicts of interest. Employees may report such instances to a specially-designated e-mail address. Their doubts in relation to ethics are resolved on an ongoing basis.

Some subsidiaries in the Group use a formal set of ethical standards and principles in the form of code of ethics as part of their ethics management policy and have defined their own organizational values. In all subsidiaries violations of ethics can be anonymously reported to a special inbox or by telephone. Any behaviour that is not compliant with the regulations and provisions of law is sanctioned according to the provisions of the Labour Code and the entity’s Employment Regulations. The responsibility for managing ethical issues lies in principle with the respective Management Board of each company that is additionally supported by the HR structures. Apart from the possibility to report violations, no universal mechanism for seeking advice and resolving doubts concerning ethics exists in the group. Internal codes of ethics or equivalent regulations in the area of ethics are not published on websites accessible by business partners or customers.

In order to introduce uniform standards, the bank shared with the group's entities the Code of Ethics of the PKO Bank Polski Group Entities, which implements the provisions of the bank's Code of Ethics. The entities of the group implemented the Code in the period from October to December 2020.