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PKO BP

PKO BP's total revenues rose 17.0% yoy to PLN 5,778 mil in 2Q2023

By Helgi Library - August 24, 2023

PKO BP generated total banking revenues of PLN 5,778 mil in 2023-06-30, up 4.45% compared to the previous year. Polish ban...

PKO BP's customer deposits rose 12.5% yoy to PLN 366,053 mil in 2Q2023

By Helgi Library - August 24, 2023

PKO BP's customer deposits reached PLN 366,053 mil in 2023-06-30, up 4.68% compared to the previous year. Polish banking sector...

PKO BP's payment cards rose 6.28% yoy to 10.3 mil in 3Q2022

By Helgi Library - September 13, 2023

PKO BP has issued total of 10.3 mil payment cards at the end of 2022-09-30, up 1.11% compared to the previous year. Polish ...

Annual Quarterly
Profit Statement 2020 2021 2022
Net Interest Income PLN mil 10,166 9,882 11,424
Net Fee Income PLN mil 3,904 4,377 4,498
Other Income PLN mil 1,296 774 1,287
Total Revenues PLN mil 15,366 15,033 17,209
Staff Cost PLN mil 2,974 3,199 3,403
Operating Profit PLN mil 7,047 7,836 9,440
Provisions PLN mil 1,700 1,309 3,415
Net Profit PLN mil 2,895 4,873 3,312
Balance Sheet 2020 2021 2022
Interbank Loans PLN mil 2,557 9,010 16,101
Customer Loans PLN mil 228,112 234,300 232,959
Investments PLN mil 123,694 135,440 135,632
Total Assets PLN mil 381,793 418,086 431,447
Shareholders' Equity PLN mil 45,301 37,693 35,707
Interbank Borrowing PLN mil 4,893 3,829 3,020
Customer Deposits PLN mil 282,356 322,296 338,868
Issued Debt Securities PLN mil 34,814 26,588 18,291
Ratios 2020 2021 2022
ROE % 6.67 11.7 9.02
ROA % 0.794 1.22 0.780
Costs (As % Of Assets) % 2.28 1.80 1.83
Costs (As % Of Income) % 54.1 47.9 45.1
Capital Adequacy Ratio % 20.2 18.7 17.8
Net Interest Margin % 2.79 2.47 2.69
Loans (As % Of Deposits) % 80.8 72.7 68.7
NPLs (As % Of Loans) % 4.26 3.84 3.83
Provisions (As % Of NPLs) % 86.7 93.1 109
Valuation 2020 2021 2022
Market Capitalisation USD mil 9,608 13,833 7,644
Number Of Shares mil 1,250 1,250 1,250
Share Price PLN 28.7 44.9 30.3
Price/Earnings (P/E) 12.4 11.5 11.4
Price/Book Value (P/BV) 0.792 1.49 1.06
Dividend Yield % 0 4.07 4.30
Earnings Per Share (EPS) PLN 2.32 3.90 2.65
Book Value Per Share PLN 36.2 30.2 28.6
Dividend Per Share PLN 0 1.83 1.30

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summary Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
income statement                                            
Net Interest Income PLN mil                               7,765 8,618 9,357 10,293 10,166    
Total Revenues PLN mil                               12,541 13,657 14,599 15,974 15,366    
Operating Profit PLN mil                               6,054 7,010 7,395 7,965 7,047    
Net Profit PLN mil                               2,805 3,371 3,768 4,023 2,895    
balance sheet                                            
Interbank Loans PLN mil                               6,684 6,135 7,712 5,173 2,557    
Customer Loans PLN mil                               199,268 204,726 214,861 230,206 228,112    
Investments PLN mil                               51,405 54,075 64,114 80,573 123,694    
Total Assets PLN mil                               285,573 296,912 324,255 347,897 381,793    
                                               
Shareholders' Equity PLN mil                               32,569 36,256 39,101 41,578 45,301    
Interbank Borrowing PLN mil                               19,213 4,612 2,008 4,914 4,893    
Customer Deposits PLN mil                               205,066 218,752 241,036 254,496 282,356    
Issued Debt Securities PLN mil                               17,032 25,652 31,358 34,772 34,814    
ratios                                            
ROE % ...                             8.93 9.80 10.00 9.97 6.67    
ROA % ...                             1.02 1.16 1.21 1.20 0.794    
Costs (As % Of Assets) % ...                             2.35 2.28 2.32 2.38 2.28    
Costs (As % Of Income) %                               51.7 48.7 49.3 50.1 54.1    
Capital Adequacy Ratio %                               15.8 17.4 18.9 18.4 20.2    
Net Interest Margin % ...                             2.81 2.96 3.01 3.06 2.79    
Interest Income (As % Of Revenues) %                               61.9 63.1 64.1 64.4 66.2    
Fee Income (As % Of Revenues) %                               21.5 21.7 20.6 19.1 25.4    
Staff Cost (As % Of Total Cost) %                               43.7 44.7 42.0 40.1 35.7    
Equity (As % Of Assets) %                               11.4 12.2 12.1 12.0 11.9    
Loans (As % Of Deposits) %                               97.2 93.6 89.1 90.5 80.8    
Loans (As % Assets) %                               69.8 69.0 66.3 66.2 59.7    
NPLs (As % Of Loans) %                               5.90 5.49 5.39 4.33 4.26    
Provisions (As % Of NPLs) %                               65.5 67.0 68.2 70.2 86.7    
valuation                                            
Market Capitalisation USD mil ... ... ...                         8,421 15,948 13,173 11,364 9,608    
Number Of Shares mil                               1,250 1,250 1,250 1,250 1,250    
Share Price PLN ... ... ...                         28.1 44.3 39.5 34.5 28.7    
Earnings Per Share (EPS) PLN                               2.24 2.70 3.01 3.21 2.32    
Book Value Per Share PLN                               26.1 29.0 31.3 33.3 36.2    
Dividend Per Share PLN                               0 0.550 1.33 0 0    
Price/Earnings (P/E) ... ... ...                         12.5 16.4 13.1 10.7 12.4    
Price/Book Value (P/BV) ... ... ...                         1.08 1.53 1.26 1.04 0.792    
Dividend Yield % ... ... ...                         0 1.24 3.37 0 0    
Earnings Per Share Growth % ...                             -6.38 20.2 11.7 6.71 -27.9    
Book Value Per Share Growth % ...                             7.61 11.3 7.85 6.33 8.95    
income statement Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
income statement                                            
Interest Income PLN mil                               9,975 10,931 11,606 12,774 11,621    
Interest Cost PLN mil                               2,210 2,313 2,249 2,481 1,455    
Net Interest Income PLN mil                               7,765 8,618 9,357 10,293 10,166    
Net Fee Income PLN mil                               2,693 2,969 3,013 3,047 3,904    
Fee Income PLN mil                               3,580 3,918 4,042 4,130 4,953    
Fee Expense PLN mil                               886 949 1,029 1,083 1,049    
Other Income PLN mil                               2,082 2,070 2,229 2,634 1,296    
Insurance Premium Earned PLN mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Total Revenues PLN mil                               12,541 13,657 14,599 15,974 15,366    
Staff Cost PLN mil                               2,836 2,974 3,023 3,215 2,974    
Depreciation PLN mil                               331 368 370 656 541    
Other Cost PLN mil                               3,320 3,305 3,811 4,138 4,804    
Operating Cost PLN mil                               6,487 6,647 7,204 8,009 8,319    
Operating Profit PLN mil                               6,054 7,010 7,395 7,965 7,047    
Provisions PLN mil                               1,504 1,504 1,292 1,104 1,700    
Extra and Other Cost PLN mil                               852 927 992 1,052 1,029    
Pre-Tax Profit PLN mil                               3,698 4,579 5,111 5,809 4,318    
Tax PLN mil                               891 1,203 1,342 1,785 1,427    
Minorities PLN mil                               2.10 5.00 1.00 1.00 -4.00    
Net Profit PLN mil                               2,805 3,371 3,768 4,023 2,895    
Net Profit Avail. to Common PLN mil                               2,805 3,371 3,768 4,023 2,895    
Dividends PLN mil                               0 688 1,663 0 0    
growth rates                                            
Net Interest Income Growth % ...                             10.3 11.0 8.58 10.0 -1.23    
Net Fee Income Growth % ...                             -5.51 10.2 1.48 1.13 28.1    
Total Revenue Growth % ...                             8.06 8.90 6.90 9.42 -3.81    
Operating Cost Growth % ...                             11.2 2.46 8.38 11.2 3.87    
Operating Profit Growth % ...                             4.86 15.8 5.49 7.71 -11.5    
Pre-Tax Profit Growth % ...                             0.813 23.8 11.6 13.7 -25.7    
Net Profit Growth % ...                             -6.38 20.2 11.8 6.77 -28.0    
market share                                            
Market Share in Revenues %                               21.2 22.1 22.7 22.7 24.9   ...
Market Share in Net Profit %                               20.2 24.7 28.9 29.2 -859    
Market Share in Employees %                               15.3 17.3 17.1 17.7 17.4    
Market Share in Bank Cards % ...                             21.3 21.3 21.6 21.6 ... ... ...
Market Share in Debit Cards % ... ... ... ... ... ... ... ...               22.6 22.4 22.5 22.3 ... ... ...
Market Share in Credit Cards % ... ... ... ... ... ... ... ...               14.5 15.0 15.9 17.0 ... ... ...
Market Share in Branches % ...                             9.07 8.60 9.13 9.08 9.63 ... ...
balance sheet Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
balance sheet                                            
Cash & Cash Equivalents PLN mil                               13,325 17,810 22,925 14,677 7,474    
Interbank Loans PLN mil                               6,684 6,135 7,712 5,173 2,557    
Customer Loans PLN mil                               199,268 204,726 214,861 230,206 228,112    
Retail Loans PLN mil                               133,014 134,439 142,062 145,216 142,824    
Mortgage Loans PLN mil                               108,322 108,163 114,781 114,218 112,285    
Consumer Loans PLN mil                               24,693 26,276 27,281 30,998 30,539    
Corporate Loans PLN mil                               56,722 60,497 64,910 67,994 88,599    
Investments PLN mil                               51,405 54,075 64,114 80,573 123,694    
Property and Equipment PLN mil                               3,086 2,915 2,931 4,442 4,329    
Intangible Assets PLN mil                               3,422 3,242 3,195 3,178 3,280    
Goodwill PLN mil ... ... ... ... ... ... ... ...               1,252 1,263 1,251 1,200 ... ... ...
Total Assets PLN mil                               285,573 296,912 324,255 347,897 381,793    
                                               
Shareholders' Equity PLN mil                               32,569 36,256 39,101 41,578 45,301    
Of Which Minority Interest PLN mil                               -16.2 -11.0 -10.0 -9.00 -13.0    
Liabilities PLN mil                               253,004 260,656 285,154 306,319 336,492    
Interbank Borrowing PLN mil                               19,213 4,612 2,008 4,914 4,893    
Customer Deposits PLN mil                               205,066 218,752 241,036 254,496 282,356    
Retail Deposits PLN mil ...                             140,000 151,161 165,182 193,449 223,691    
Corporate Deposits PLN mil ...                             65,066 52,667 55,302 49,648 43,705    
Sight Deposits PLN mil                               111,515 136,444 153,312 178,899 ...    
Term Deposits PLN mil                               87,438 77,559 82,218 74,301 ...    
Issued Debt Securities PLN mil                               17,032 25,652 31,358 34,772 34,814    
Subordinated Debt PLN mil ... ... ... ... ... ...     ... ... ...   ... ... ... ... ... ... ... ...    
Other Liabilities PLN mil                               11,693 11,640 10,752 12,137 14,429    
asset quality                                            
Non-Performing Loans PLN mil                               12,220 11,678 12,021 10,285 10,084    
Gross Loans PLN mil                               207,270 212,550 223,065 237,427 236,856    
Risk-Weighted Assets PLN mil ... ... ... ... ...                     195,321 195,875 200,438 214,000 220,350    
Total Provisions PLN mil                               8,003 7,824 8,204 7,221 8,744    
growth rates                                            
Customer Loan Growth % ...                             7.14 2.74 4.95 7.14 -0.910    
Retail Loan Growth % ...                             5.12 1.07 5.67 2.22 -1.65    
Mortgage Loan Growth % ...                             5.16 -0.146 6.12 -0.490 -1.69    
Consumer Loan Growth % ...                             4.95 6.41 3.82 13.6 -1.48    
Corporate Loan Growth % ...                             0.142 6.66 7.29 4.75 30.3    
Total Asset Growth % ...                             6.98 3.97 9.21 7.29 9.74    
Shareholders' Equity Growth % ...                             7.61 11.3 7.85 6.33 8.95    
Customer Deposit Growth % ...                             5.20 6.67 10.2 5.58 10.9    
Retail Deposit Growth % ... ...                           9.12 7.97 9.28 17.1 15.6    
Corporate Deposit Growth % ... ...                           -3.55 -19.1 5.00 -10.2 -12.0    
market share                                            
Market Share in Customer Loans %                               17.1 16.9 16.1 16.5 16.3    
Market Share in Corporate Loans %                               16.4 16.5 17.4 17.7 24.1    
Market Share in Retail Loans %                               20.3 20.1 20.2 19.6 18.8    
Market Share in Consumer Loans %                               9.48 9.46 8.50 9.17 9.12    
Market Share in Mortgage Loans %                               27.3 27.7 30.0 28.4 26.5    
Market Share in Total Assets %                               17.1 17.2 17.2 17.5 16.3    
Market Share in Customer Deposits %                               17.0 17.3 17.7 17.2 16.8    
Market Share in Retail Deposits % ...                             20.9 21.8 21.7 23.2 24.9    
Market Share in Corporate Deposits % ... ... ... ... ... ... ... ... ...             18.5 14.3 14.2 11.6 8.32    
ratios Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
                                             
ROE % ...                             8.93 9.80 10.00 9.97 6.67    
ROTE % ...                             9.99 10.8 10.9 10.8 7.20    
ROE (@ 15% of RWA) % ... ... ... ... ... ...                   9.82 11.5 12.7 12.9 8.89    
ROA % ...                             1.02 1.16 1.21 1.20 0.794    
Return on Loans % ...                             1.46 1.67 1.80 1.81 1.26    
Operating Profit (As % of RWA) % ... ... ... ... ... ...                   3.18 3.58 3.73 3.84 3.24    
Costs (As % Of Assets) % ...                             2.35 2.28 2.32 2.38 2.28    
Costs (As % Of Income) %                               51.7 48.7 49.3 50.1 54.1    
Costs (As % Of Loans) % ...                             3.37 3.29 3.43 3.60 3.63    
Costs (As % Of Loans & Deposits) % ...                             1.65 1.61 1.64 1.70 1.67    
Capital Adequacy Ratio %                               15.8 17.4 18.9 18.4 20.2    
Tier 1 Ratio %                               14.5 16.5 17.5 17.2 19.0    
Net Interest Margin % ...                             2.81 2.96 3.01 3.06 2.79    
Interest Spread % ...                             2.71 2.85 2.91 2.96 2.73    
Asset Yield % ...                             3.61 3.75 3.74 3.80 3.19    
Revenues (As % of RWA) % ... ... ... ... ... ...                   6.59 6.98 7.37 7.71 7.08    
Cost Of Liabilities % ...                             0.902 0.901 0.824 0.839 0.453    
Payout Ratio %                               0 20.4 44.1 0 0    
Interest Income (As % Of Revenues) %                               61.9 63.1 64.1 64.4 66.2    
Fee Income (As % Of Revenues) %                               21.5 21.7 20.6 19.1 25.4    
Other Income (As % Of Revenues) %                               16.6 15.2 15.3 16.5 8.43    
Staff Cost (As % Of Total Cost) %                               43.7 44.7 42.0 40.1 35.7    
Equity (As % Of Assets) %                               11.4 12.2 12.1 12.0 11.9    
Equity (As % Of Loans) %                               16.3 17.7 18.2 18.1 19.9    
Loans (As % Of Deposits) %                               97.2 93.6 89.1 90.5 80.8    
Loans (As % Assets) %                               69.8 69.0 66.3 66.2 59.7    
NPLs (As % Of Loans) %                               5.90 5.49 5.39 4.33 4.26    
Provisions (As % Of NPLs) %                               65.5 67.0 68.2 70.2 86.7    
Provisions (As % Of Loans) %                               4.02 3.82 3.82 3.14 3.83    
Cost of Provisions (As % Of Loans) % ...                             0.781 0.745 0.616 0.496 0.742    
other data Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
                                             
Branches ...                             1,238 1,192 1,155 1,115 1,004    
ATMs ...                             3,206 3,190 3,133 3,080 3,022    
ATMs (As % of Bank Branches) % ...                             259 268 271 276 301    
Employees                               25,900 28,443 27,856 27,708 25,859    
Employees Per Bank Branch ...                             20.9 23.9 24.1 24.9 25.8    
Cost Per Employee USD per month                               2,258 2,275 2,498 2,559 2,458    
Cost Per Employee (Local Currency) PLN per month                               9,124 8,713 9,044 9,669 9,584    
Revenues From Abroad PLN mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Profit From Abroad PLN mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Revenues From Abroad (As % Of Total) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Profit From Abroad (As % Of Total) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Insurance Income (As % Of Revenues) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Insurance Fee Income (As % of Loans) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
customer breakdown Unit 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
                                             
Customers mil ... ...                           8.89 9.42 10.0 10.5 10.7    
Number of Accounts mil ... ... ...                         7.03 7.30 7.62 8.01 8.26 ... ...
Number of Primary Customers mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 3.90 ... ...
Payment Cards mil ...                             7.86 8.34 8.89 9.28 9.51    
Debit Cards mil ... ... ... ... ... ... ... ...               7.01 7.47 7.96 8.30 8.54    
Credit Cards mil ... ... ... ... ... ... ... ...               0.852 0.875 0.932 0.981 0.969    
Number of Mortgages mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 0.688 0.657 ... ...
Number of Consumer Loans mil ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Average Size of Deposit PLN ... ... ...                         29,154 29,966 31,632 31,764 34,196 ... ...
Average Size of Mortgage Loan PLN ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 166,000 171,000 ... ...
Average Size of Consumer Loan PLN ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Accounts (As % of Total Clients) % ... ... ...                         79.2 77.5 75.8 76.4 76.8 ... ...
Primary (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 36.3 ... ...
Mortgages (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... 6.56 6.11 ... ...
Consumer Loans (As % of Total Clients) % ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ... ...
Payments Cards (As % of Total Clients) % ... ...                           88.5 88.5 88.5 88.5 88.5    
Debit Cards (As % of Total Clients) % ... ... ... ... ... ... ... ...               78.9 79.2 79.2 79.1 79.5    
Credit Cards (As % of Total Clients) % ... ... ... ... ... ... ... ...               9.59 9.28 9.27 9.35 9.02    
                                               
Market Value per Customer (Local Currency) PLN ... ... ...                         3,961 5,891 4,928 4,114 3,360    
Revenue per Customer (Local Currency) PLN ... ...                           1,411 1,449 1,453 1,523 1,430    
Net Profit per Customer (Local Currency) PLN ... ...                           316 358 375 384 269    
Loan per Customer (Local Currency) PLN ... ...                           22,424 21,723 21,381 21,946 21,227    
Deposit per Customer (Local Currency) PLN ... ...                           23,077 23,212 23,986 24,262 26,274    
Market Value per Customer USD ... ... ...                         948 1,692 1,311 1,083 894    
Revenue per Customer USD ... ...                           349 378 401 403 367    
Net Profit per Customer USD ... ...                           78.1 93.4 104 101 69.1    
Loan per Customer USD ... ...                           5,366 6,240 5,687 5,779 5,648    
Deposit per Customer USD ... ...                           5,522 6,668 6,380 6,389 6,991    

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PKO BP's branches fell 1.13% yoy to 959 in 2Q2023

By Helgi Library - September 13, 2023

PKO BP employed 25,300 persons in 2023-06-30, up 0.797% compared to the previous year. Historically, the bank's workforce hit an all time high of 35,386 persons in 2004-12-31 and an all time low of 25,071 in 2022-12-31. The bank operated a network of 959 b...

PKO BP's npls (as % of loans) fell 0.341% yoy to 3.81% in 2Q2023

By Helgi Library - September 13, 2023

PKO BP's non-performing loans reached 3.81% of total loans at the end of 2023-06-30, down from 3.83% compared to the previous year. Historically, the NPL ratio hit an all time high of 11.5% in 2004-03-31 and an all time low of 3.19% in 2007-12-31. Provision...

PKO BP's retail deposits rose 21.0% yoy to PLN 292,973 mil in 2Q2023

By Helgi Library - September 13, 2023

PKO BP's retail deposits reached PLN 292,973 mil in 2023-06-30, up 6.40% compared to the previous year. Polish banking sector accepted retail deposits of PLN 1,068 bil in 2023-06-30, up 1.91% when compared to the last year. PKO BP accounted for 27.4% of a...

PKO BP's employees fell 0.792% yoy to 25,300 in 2Q2023

By Helgi Library - September 13, 2023

PKO BP employed 25,300 persons in 2023-06-30, up 0.797% when compared to the previous year. Historically, the bank's workforce hit an all time high of 35,386 persons in 2004-12-31 and an all time low of 25,071 in 2022-12-31. Average cost reached USD 2,762 per mont...

PKO BP's price/earnings (P/E) fell 7.55% yoy to 19.2 in 2Q2023

By Helgi Library - August 24, 2023

PKO BP stock traded at per share at the end first quarter of 1970 implying a market capitalization of. Since the end of 1Q1965, the stock has A PHP Error was encountered Severity: Warning Message: A non-numeric value encountered Filename: src/Environment.php(358) : eval()'d ...

PKO BP's customer loans rose 0.045% yoy to PLN 236,054 mil in 2Q2023

By Helgi Library - August 24, 2023

PKO BP's customer loans reached PLN 236,054 mil in 2023-06-30, down 0.605% compared to the previous year. Polish banking sector provided customer loans of PLN 1,584 bil in 2023-06-30, down 0.064% when compared to the last year. PKO BP accounted for 14.9% ...

PKO BP's capital adequacy ratio rose 14.4% yoy to 19.8% in 2Q2023

By Helgi Library - September 13, 2023

PKO BP's capital adequacy ratio reached 19.8% at the end of second quarter of 2023, up from 18.6% when compared to the previous quarter. Historically, the bank’s capital ratio hit an all time high of 19.8% in 2Q2023 and an all time low of 10.9% in 2Q2008. The...

PKO BP's net profit rose 39.9% yoy to PLN 589 mil in 2Q2023

By Helgi Library - September 13, 2023

PKO BP made a net profit of PLN 589 mil under revenues of PLN 5,778 mil in the second quarter of 2023, up 39.9% and 17% respectively when compared to the same period last year. Historically, the bank’s net profit reached an all time high of PLN 1,720 mil in 4...

PKO BP's net interest income rose 24.0% yoy to PLN 4,392 mil in 2Q2023

By Helgi Library - September 13, 2023

PKO BP generated total banking revenues of PLN 5,778 mil in the second quarter of 2023, up 17% when compared to the same period of last year and 4.45% when compared to the previous quarter. Historically, the bank’s revenues containing of interest, fee and...

PKO BP's costs (as % of assets) fell 29.8% yoy to 1.54% in 2Q2023

By Helgi Library - September 13, 2023

PKO BP's cost to income ratio reached 30.2% in the second quarter of 2023, down from 35.9% when compared to the previous quarter. Historically, the bank’s costs reached an all time high of 82.6% of income in 3Q2022 and an all time low of 10.4% in 3Q2011. ...

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Powszechna Kasa Oszczędności Bank Polski (PKO BP) is Poland's largest bank. The Bank was founded in 1919 and is headquartered in Warsaw, Poland. The bank offers a range of personal and business financial services such as savings account, deposits, mortgage loans and brokerage products through specialized financial services in the area of leasing, factoring, investment funds, pension funds and life insurance. The core business activity of PKO Bank Polski is retail banking and the full name Powszechna Kasa Oszczędności roughly means "General Savings Bank". The bank employes more than 25,000 people and services more than 6 million clients through a network of more than 1,200 branches and 3,000 ATMs.

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Finance

PKO BP has been growing its revenues and asset by 3.13% and 8.37% a year on average in the last 10 years. Its loans and deposits have grown by 4.97% and 8.83% a year during that time and loans to deposits ratio reached 68.7% at the end of 2022. The company achieved an average return on equity of 10.0% in the last decade with net profit growing -1.31% a year on average. In terms of operating efficiency, its cost to income ratio reached 45.1% in 2022, compared to 48.6% average in the last decade.

Equity represented 8.28% of total assets or 15.3% of loans at the end of 2022. PKO BP's non-performing loans were 3.83% of total loans while provisions covered some 109% of NPLs at the end of 2022.

Valuation

PKO BP stock traded at per share at the end of 2022 resulting in a market capitalization of . Over the previous three years, stock price rose by 0% or 0% a year on average. That’s compared to an average ROE of 9.14% the bank generated for its shareholders. This closing price put stock at a 12-month trailing price to earnings (PE) of 11.4x and price to book value (PBV) of 1.06x in 2022.

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