Events after
the reporting period

On 9 January 2012, in the Qualia Development Sp. z o.o. Group new companies agreements were concluded: Qualia Spółka z ograniczoną odpowiedzialnością - Władysławowo Spółka Komandytowa, Qualia Spółka z ograniczoną odpowiedzialnością - Zakopane Spółka Komandytowa, Qualia Spółka z ograniczoną odpowiedzialnością - Jurata Spółka Komandytowa. These companies were established for the purpose of  realisation of investment projects. Ongoing registration of above-mentioned companies with the National Court Register.

On 16 January 2012, PKO Bank Polski SA was registered with the State Ukrainian Register of Businesses as the sole shareholder of ‘Inter-Risk Ukraina’ Additional Liability Company with its seat in Kiev (the additional liability means that the shareholder is responsible for the company's liabilities up to 103% of its share). PKO Bank Polski SA acquired 1 share constituting 100% of the Company’s share capital which entitles it to 100% of votes at the shareholders’ meeting. The acquisition price was PLN 2 500 thousand. On 30 January 2012, the Bank made a capital contribution of the above-mentioned Company of UAH 43 million (PLN 17 212.9 thousand). The main purpose of acquiring and subsequently the operation of the Company is to use it to perform effective debt collection of the impaired loans portfolio of KREDOBANK SA and the impaired loans portfolio purchased by Finansowa Kompania ‘Prywatne Inwestycje’ Sp. z o.o.

On 27 January 2012, Qualia Development Sp. z o.o. made an additional payment to the company Qualia Residence Sp. z o.o. amounted to PLN 13 000 thousand.

On 31 January 2012 was signed a sales agreement of a Holiday and Recreation Center ‘Daglezja’ in Zakopane by the Bank with the company Qualia Residence Sp. z o.o.

On 31 January 2012, the increase in the share capital of Bankowy Leasing Sp. z o.o. in the total amount of PLN 9 500 thousand was registered with the National Court Register. All the shares were taken up by Bankowy Fundusz Leasingowy SA – the Bank’s subsidiary- for the price equal to the nominal value of the shares taken up.

In January and February 2012, PKO Bank Polski SA made a capital contribution to Qualia Development Sp. z o.o. totalling PLN 35 319 thousand.

In 2012 during the period to the publication of the report the Bank conducted activities connected with the liquidation of Centrum Finansowe Puławska Sp. z o.o. On 1 March 2012, in order to take over its assets, including property, in which is the Bank’s Head Office registered office is located.

In February 2012, PKO Bank Polski SA carried out a transaction consisting of selling 2% interest in Finansowa Kompania ‘Prywatne Inwestycje’ Sp. z o.o. to ‘Inter-Risk Ukraina’ Spółka z dodatkową odpowiedzialnością. The above-mentioned transaction was carried out as part of the process of transforming Finansowa Kompania ‘Prywatne Inwestycje’ Sp. z o.o. into a subsidiary of ‘Inter-Risk Ukraina’ Spółka z dodatkową odpowiedzialnością.
 
On 10 February 2012, the Bank carried out an issue of own bonds based on the Scheme for issuing bonds for the domestic market. The nominal value of the bonds issued as part of the Issue is PLN 1,500,000 thousand. The nominal value of one bond is PLN 100 thousand. The bonds issued as part of the Issue are bearer zero-coupon discount bonds. The redemption of the bonds issued as part of the Issue will be performed at their nominal value.