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 MTN 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
  MTN 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 Group financial commitments with details of overdue liabilities as at 31 March 2025 in PLN million:

   

  	31.03.2025
  Financial liabilities	461 111
  -of which financial liabilities overdue	2

   

   

  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}