Structure
of the Group

Business activities of the Group

PKO Bank Polski SA is a commercial bank offering services to both domestic and foreign retail, corporate and other clients. PKO Bank Polski SA is licensed to hold foreign exchange and currencies and sell/buy them, as well as perform a full range of foreign exchange services, open and hold bank accounts abroad and to deposit foreign exchange in these accounts.

In addition, through its subsidiaries, the Group conducts activities relating to leasing, factoring, investment funds, pension funds, Internet banking as well as servicing and settlement of card transactions and real estate development. The scope of activities of each of the Group entities is set out in this note, in the table ‘Structure of the PKO Bank Polski SA Group’.

The Group operates in the Republic of Poland and through its subsidiaries, KREDOBANK SA, Finansowa Kompania ‘Prywatne Inwestycje’ Sp. z o.o. and UKRPOLINWESTYCJE Sp. z o.o. – in Ukraine and through its subsidiary PKO Finance AB in Sweden.

Structure of the PKO Bank Polski SA Group

The PKO Bank Polski SA Group consists of the following entities:

Jointly controlled entities and associates included in the consolidated financial statements:


Information on changes in the parent’s participation in the share capital of the subsidiaries is set out in Note 46 ‘Changes to the entities of the Group’.

Information on members of the Management and Supervisory Board of the Bank

As at 31 December 2011 the Bank's Management Board consisted of:

  • Zbigniew Jagiełło President of the Management Board
  • Piotr Alicki Vice-President of the Management Board
  • Bartosz Drabikowski Vice-President of the Management Board
  • Andrzej Kołatkowski Vice-President of the Management Board
  • Jacek Obłękowski Vice-President of the Management Board
  • Jarosław Myjak Vice-President of the Management Board
  • Jakub Papierski Vice-President of the Management Board

During the year ended 31 December 2011 the following changes took place in the composition of the Bank’s Management Board:

  1. On 2 March 2011 the Supervisory Board of PKO Bank Polski SA reappointed Zbigniew Jagiełło President of the Management Board of PKO Bank Polski SA for the joint term of office of the Bank's Management Board which commenced on the date of the Annual General Shareholders' Meeting of PKO Bank Polski SA approving the financial statements of PKO Bank Polski SA for 2010.
  2. On 1 April 2011 the Supervisory Board of PKO Bank Polski SA passed resolutions appointing:
    • Piotr Alicki as the of the Vice-President of the Management Board,
    • Bartosz Drabikowski as the of the Vice-President of the Management Board,
    • Jarosław Myjak as the of the Vice-President of the Management Board,
    • Jacek Obłękowski as the of the Vice-President of the Management Board,
    • Jakub Papierski as the of the Vice-President of the Management Board.

In accordance with the resolutions passed, the above-mentioned persons were appointed to the specified positions at PKO Bank Polski SA for the joint term of office of the Bank’s Management Board which commenced on the date of the Annual General Shareholders' Meeting of PKO Bank Polski SA approving the financial statements of PKO Bank Polski SA for 2010.

  1. On 16 May 2011, the Supervisory Board of PKO Bank Polski SA passed a resolution appointing Andrzej Kołatkowski the Vice-President of the Bank's Management Board responsible for risk and debt collection area for the joint term of office of the Bank's Management Board, which commenced on the date of the Annual General Shareholders’ Meeting of PKO Bank Polski SA approving the financial statements of PKO Bank Polski SA for 2010, provided that the approval of the Polish Financial Supervision Authority is obtained. On 9 August 2011, the Polish Financial Supervision Authority has approved unanimously Andrzej Kołatkowski as Vice-President of the Bank’s Management Board.

During the year ended 31 December 2011, the following change took place in the composition of the Bank’s Supervisory Board:

The Annual General Shareholders’ Meeting of the Bank convened for 30 June 2011, appointed the following members of the Bank’s Supervisory Board:

  • Cezary Banasiński,
  • Tomasz Zganiacz,
  • Jan Bossak,
  • Mirosław Czekaj,
  • Krzysztof Kilian,
  • Ewa Miklaszewska,
  • Piotr Marczak,
  • Marek Mroczkowski,
  • Ryszard Wierzba.

The State Treasury, as Authorised Shareholder, has established the list of 9 members of Supervisory Board and has appointed:

  • Cezary Banasiński – as the Chairman of the Bank’s Supervisory Board,
  • Tomasz Zganiacz – as the Deputy Chairman of the Bank’s Supervisory Board.

Approval of financial statements

These consolidated financial statements, reviewed by the Bank’s Supervisory Board’s Audit Committee on 29 February 2012, have been approved for issue by the Bank’s Management Board on 23 February 2012 and accepted by the Bank’s Supervisory Board on 29 February 2012.