Chapter 1

I. General information about the Group

  1. Powszechna Kasa Oszczędności Bank Polski SA (the Parent Company, the Bank) was established in 1919 as Pocztowa Kasa Oszczędnościowa (Postal Savings Bank).

    In 1950, the Bank started operating as Powszechna Kasa Oszczędności Bank Państwowy (state-owned bank). On 18 January 2000, on the basis of a Decree of the Council of Ministers, Powszechna Kasa Oszczędności Bank Państwowy was transformed into a joint-stock company wholly owned by the State Treasury, under the name of Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna. On 12 April 2000, the Bank was entered in the Business Register maintained by the District Court for the City of Warsaw, Business Court, 16th Registration Division. Currently, the Bank is registered under the number KRS0000026438, and the District Court for the City of Warsaw, 13th Business Division of the National Court Register is the competent registration court.

    On 14 June, 1993, the Parent Company was assigned a tax identification number (NIP) 525-000-77-38 for making tax settlements. On 18 April 2000, the Parent Company was assigned a REGON number 016298263 for statistical purposes.

  2. As at 31 December 2011, the Parent Company’s registered share capital amounted to PLN 1,250,000 thousand and consisted of 1,250,000,000 ordinary shares with PLN 1 par value each, including:

    • 312,500,000 A-series registered shares;
    • 197,500,000 A-series bearer shares;
    • 105,000,000 B-series bearer shares;
    • 385,000,000 C-series bearer shares;
    • 250,000,000 D-series bearer shares.
  3. In the audited period, the Group’s operations comprised i.a.:

    • performing activities typical of a universal bank;
    • brokerage activities;
    • managing pension funds;
    • managing investment funds;
    • managing real estate;
    • services in the area of technical assistance for electronic banking;
    • services in the area of card transaction processing and settlement;
    • leasing.

  4. During the year, the following people were on the Parent Company’s Management Board:
Zbigniew Jagiełło President of the Management Board throughout the year
Piotr Alicki Vice-President of the Management Board throughout the year
Bartosz Drabikowski Vice-President of the Management Board throughout the year
Andrzej Kołatkowski Vice-President of the Management Board since 9 August 2011
Jarosław Myjak Vice-President of the Management Board throughout the year
Jacek Obłękowski Vice-President of the Management Board since 30 June 2011
Jakub Papierski Vice-President of the Management Board throughout the year
Krzysztof Dresler Vice-President of the Management Board to 30 June 2011
Wojciech Papierak Vice-President of the Management Board to 30 June 2011
  1. As at 31 December 2011, the Powszechna Kasa Oszczędności Bank Polski SA Group comprised the following entities:
Entity name Nature of equity relationship (% shareholding) Consoli-
dation method
Auditor Type of opinion Balance date
Powszechna Kasa Oszczędności Bank Polski SA Parent Company n/a Pricewaterhouse-Coopers Sp. z o.o. Unqualified opinion 31 December 2011
Bankowe Towarzystwo Kapitałowe SA Subsidiary (100%) Full Pricewaterhouse-Coopers Sp. z o.o. Unqualified opinion 31 December 2011
Bankowy Fundusz Leasingowy SA Subsidiary (100%) Full Pricewaterhouse-Coopers Sp. z o.o. Unqualified opinion 31 December 2011
Centrum Elektronicznych Usług Płatniczych "eService" SA Subsidiary (100%) Full Pricewaterhouse-Coopers Sp. z o.o. Unqualified opinion 31 December 2011
Centrum Finansowe Puławska Sp. z o.o. – w likwidacji Subsidiary (100%) Full Pricewaterhouse-Coopers Sp. z o.o. Unqualified opinion 31 December 2011
Finansowa Kompania "Prywatne Inwestycje" Sp. z o.o.   Subsidiary (100%) Full LLC AF Pricewaterhouse-Coopers (Audit) During the audit 31 December 2011
Fort Mokotów Inwestycje Sp. z o.o. Subsidiary (99.99%) Full Pricewaterhouse-Coopers Sp. z o.o. Unqualified opinion 31 December 2011
Inteligo Financial Services SA Subsidiary (100%) Full Pricewaterhouse-Coopers Sp. z o.o. Unqualified opinion 31 December 2011
Kredobank SA Subsidiary (99.57%) Full LLC AF Pricewaterhouse-Coopers (Audit) Unqualified opinion 31 December 2011
PKO BP BANKOWY Powszechne Towarzystwo Emerytalne SA Subsidiary (100%) Full Pricewaterhouse-Coopers Sp. z o.o. Unqualified opinion 31 December 2011
PKO BP FinatSp. z o.o. 2 Subsidiary (100%) Full Pricewaterhouse-Coopers Sp. z o.o. Unqualified opinion 31 December 2011
PKO Finance AB Subsidiary (100%) Full Öhrlings Pricewaterhouse-Coopers AB During the audit1 31 December 2011
PKO Towarzystwo Funduszy Inwestycyjnych SA Subsidiary (100%) Full Pricewaterhouse-Coopers Sp. z o.o. Unqualified opinion 31 December 2011
Qualia Development Sp. z o.o. 3 Subsidiary (100%) Full Pricewaterhouse-Coopers Sp. z o.o. Unqualified opinion 31 December 2011

and subsidiaries of Bankowe Towarzystwo Kapitałowe SA, Bankowy Fundusz Leasingowy SA and Qualia Development Sp. z o.o.

Key financial data of the companies consolidated as at and for the year ended 31 December 2011 are as follows:

Entity name Total assets PLN thousand Total income PLN thousand Equity PLN thousand Net profit PLN thousand
Powszechna Kasa Oszczędności Bank Polski SA 188,372,690 15,992,428 22,802,375 3,953,622
Bankowe Towarzystwo Kapitałowe SA 188,785 15,729 5,318 (2,806)
Bankowy Fundusz Leasingowy SA 3,161,176 246,933 108,177 8,412
Centrum Elektronicznych Usług Płatniczych "eService" SA 121,049 216,683 86,927 23,710
Centrum Finansowe Puławska Sp. z o.o. – w likwidacji 265,544 47,512 261,918 12,619
Finansowa Kompania "Prywatne Inwestycje" Sp. z o.o. 241,320 701 1,414 81
data in UAH thousand 567,145 1,887 3,322 219
Fort Mokotów Inwestycje Sp. z o.o. 106,096 113 105,087 (522)
Inteligo Financial Services SA 190,479 92,756 152,612 19,898
Kredobank SA 1,577,401 184,719 282,116 (93,815)
data in UAH thousand 3,707,170 497,090 663,023 (252,463)
PKO BP BANKOWY Powszechne Towarzystwo Emerytalne SA 282,342 66,135 240,450 4,714
PKO BP Finat Sp. z o.o. 16,102 17,741 11,878 970
PKO Finance AB 4,477,024 140,213 892 393
data in UAH thousand 1,013,635 33,867 202 95
PKO Towarzystwo Funduszy Inwestycyjnych SA 85,206 277,118 61,034 37,821
Qualia Developement Sp. z o.o. 592,133 105,858 208,355 (4,555)
Total 199,677,347 17,404,639 24,328,553 3,960,542
Consolidation adjustments (8.929,310) (713,714) (1,506,569) (155,797)
Total 190,748,037 16,690,925 22,821,984 3,804,745
  1. The Parent Company owned also the following jointly controlled entities and associates valued using the equity method:
Centrum Haffnera Sp. z o.o.
-
jointly controlled entity
Centrum Obsługi Biznesu Sp. z o.o.
-
jointly controlled entity
Bank Pocztowy SA
-
associate
Poznański Fundusz Poręczeń Kredytowych Sp. z o.o.
-
associate
Agencja Inwestycyjna CORP-SA SA
-
associate
  1. The Parent Company is an issuer of securities admitted to trading on the Warsaw Stock Exchange and in accordance with the Accounting Act it prepares its consolidated financial statements in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union.