Bond issues under EMTN Programme
Informations about issues
- Credit ratings
PKO Bank Polski S.A. has solicited credit ratings from Moody's Investors Service rating agency, which assesses the Bank's creditworthiness according to its own bank assessment procedure.
Rating agency Moody's Investors Service on 27 February 2025 announced that it had upgraded the rating of the Senior Unsecured Non Preferred bonds and the rating of the EMTN programme of these bonds, to Baa2 and (P)Baa2 respectively, and about maintaining all ratings for PKO Bank Polski S.A. The stable outlook for the long-term deposit rating was also maintained. The long-term counterparty risk rating was maintained at A2 and the short-term counterparty risk rating was maintained at P-1.
Counterparty risk ratings reflect an entity’s ability to settle an unsecured portion of the counterparty’s financial liabilities not related to a debt (CRR liabilities) and the expected financial losses in the case of failing to settle such liabilities. Examples of CRR liabilities include the uncollateralized portion of liabilities arising from derivatives transactions and the uncollateralized portion of liabilities under sale and repurchase agreements. Detailed information about Moody's methodology and rating scale is included on the agency's website.
Moody's Investors Service Rating Long-term deposit rating A2 with stable outlook Short-term deposit rating P-1 Senior unsecured MTN Program rating (P)A3 Other Short Term (P)P-2 EMTN Programme Senior Non Preferred unsecured eurobonds (P)Baa2 Junior Senior Unsecured (Domestic) Baa2 Senior Unsecured (Foreign) A3 with stable outlook Long-term counterparty risk rating A2 Short-term counterparty risk rating P-1 Long-term counterparty risk assessment A2(cr) Short-term counterparty risk assessment P-1(cr) Baseline Credit Assessment baa2 - Value of financial liabilities incurred and forecasts of their development
Values of the Bank's and the Bank's Group's financial commitments with details of overdue liabilities as at 31 December 2023* in PLN million:
Bank Bank’s Group Financial liabilities 422 801 443 208 -of which financial liabilities overdue 1 3 * The data are preliminary and have not been validated or audited; final data will be published in the Bank’s and Bank’s Group financial statements, which will be published on 7 March 2024.
Forecasts concerning financial liabilities
Bank Bank’s Group 31.12.2024 31.12.2024 Value (PLN bn) Share in total liabilities on the balance sheet* Value (PLN bn) Share in total liabilities on the balance sheet* Borrowings 0 0% 2,226 0,49% Debt securities (including subordinated liabilities)
11,995
2,80% 24,680 5,46% Leases 1,024 0,24% 1,078 0,24% Financial liabilities 420,197 n.a 440,632 n.a * total liabilities of the balance sheet is understood as total liabilities excluding equity
Bank Bank’s Group 28.02.2025 28.02.2025 Value (PLN bn) Share in total liabilities on the balance sheet* Value (PLN bn) Share in total liabilities on the balance sheet* Borrowings 0 0% 2,195 0,54% Debt securities (including subordinated liabilities) 12,264 2,87% 25,266 6,26% Leases 1,024 0,24% 1,078 0,27% Financial liabilities 419,893 n.a 440,637 n.a - total liabilities of the balance sheet is understood as total liabilities excluding equity
Bank Bank’s Group 31.12.2025 31.12.2025 Value (PLN mln) Share in total liabilities on the balance sheet* Value (PLN mln) Share in total liabilities on the balance sheet* Borrowings 0 0% 1 594,81 0,31% Debt securities (including subordinated liabilities) 22 931,89 4,63% 36 606,78 7,07% Leases 1 054,71 0,21% 1 095,25 0,21% Financial liabilities 485 645,27 98,02% 505 178,21 97,62% * total liabilities of the balance sheet is understood as total liabilities excluding equity
- Debt securities in issue
Debt securities issued by PKO Bank Polski S.A. Group (PLN million)
Debt securities in issue
31.12.2022 31.12.2021 Measured at amortized cost: covered bonds issued by PKO Bank Hipoteczny S.A. 12 057 13 143 bonds issued by PKO Bank Hipoteczny S.A. 1 265 3 474 bonds issued by PKO Bank Polski S.A. - - bonds issued by PKO Finance AB - 3 541 bonds issued by the PKO Leasing S.A. Group 2 188 3 642 bonds issued by Kredobank S.A. - 72 Total 15 510 23 872 Debt securities in issue by maturity
31.12.2022 31.12.2021 Measured at amortized cost: up to 1 month 2 669 1 067 from 1 month to 3 months 791 1 820 from 3 months to 1 year 2 851 9 978 from 1 year to 5 years 9 138 10 946 more than 5 years 61 61 Total 15 510 23 872 Source: Consolidated financial statements of the PKO Bank Polski S.A. Group for 2022