PKO Bank Polski SA Group - historical outline

The PKO Bank Polski SA Group strengthens its position as the leader of Polish banking, offering services to retail as well as institutional customers for 98 years.

1919-19381.Pocztowa Kasa Oszczędności was established through a decree signed by the Head of the country Józef Piłsudski, prime minister Ignacy Paderewski and Hubert Linde – founder and the first president.
 2.Pocztowa Kasa Oszczędności vested with legal personality as a state institution, operating under the supervision and with guarantee of the State.
 3.First local branch of Pocztowa Kasa Oszczędności was founded in Poznań.
 4.Pocztowa Kasa Oszczędności started to run School Savings Unions (Szkolne Kasy Oszczędności).
 5.With the initiative of Pocztowa Kasa Oszczędności, Treasury Ministry has decided to set up Bank Polska Kasa Opieki (today Pekao SA) as a public company to facilitate the Polish Diaspora the transfer of Polish foreign currencies to the country.
 6.Pocztowa Kasa Oszczędności strongly contributed to the development of non-cash transactions - every other larger industrial plant and any large company had a cheque account in Pocztowa Kasa Oszczędności, and cheque turnover in Poland was half as much greater than the cash.
1939-1945 Years of war were time of huge losses and standstill in the activity of Pocztowa Kasa Oszczędności.
1946-19871.Pocztowa Kasa Oszczędności transformed into Powszechna Kasa Oszczędności.
 2.Banking Act introduced privilege of saving deposits held in Powszechna Kasa Oszczędności, they were covered by the State guarantee.
 3.Powszechna Kasa Oszczędności introduced a modern product: current account.
 4.In years 1975-1987, merged into the structures of the National Bank of Poland (NBP); yet retains its identity.
1991-20001.The name Powszechna Kasa Oszczędności – Bank Państwowy, in short PKO BP, appeared in the Articles of Association. The first Supervisory Board of PKO BP was appointed.
 2.The Bank became the sole shareholder of the development company Inbudex Sp. z o.o. (currently Qualia Development Sp. z o.o.).
 3.The first Internet information portal of the Bank and the first e-PKO Internet branch were launched.
 4.PKO Towarzystwo Funduszy Inwestycyjnych SA (PKO TFI) formed by PKO BP and Credit Suisse Asset Management Holding Europe (Luxembourg) SA began its operations. From 2009, the Bank has been the Company’s sole owner.
 5.PKO BP and Bank Handlowy w Warszawie SA formed PKO BP BANKOWY PTE SA. From 2003, the Bank has been the Company’s sole owner.
 6.Bankowy Fundusz Leasingowy SA (currently PKO Leasing SA) was formed which provides operating and finance leases of non-current assets and property.
 7.PKO BP and Bank Śląski SA formed Centrum Elektronicznych Usług Płatniczych eService SA. From 2001 until 2013, the Bank held 100% shares in the Company.
 8.In 2000 the Bank was transformed into a wholly-owned subsidiary of the State Treasury under the name of PKO Bank Polski SA.
2002-20091.The Bank acquired Inteligo Financial Services SA, a company providing services within the scope of maintenance and development of ICT systems used in banking systems, also including electronic access to bank accounts (Inteligo account).
 2.The Bank acquired 66.65% shares in KREDOBANK SA. The Company is registered and operates in Ukraine. At present, the Bank holds 99.6293% of shares in the Company’s share capital.
 3.In 2004 Bank’s flotation took place - at the end of the first day of quotations, shares reached a price of PLN 24.50 per unit against the issue price fixed at PLN 20.50.
 4.PKO BP Faktoring SA began its operations (at present PKO Faktoring SA).
 5.The Bank’s share capital was increased from PLN 1 000 000 000 to PLN 1 250 000 000 (2009).
2010-20151.PKO Bank Polski SA (through its subsidiary PKO Finance AB) issued 5-year Eurobonds with value of EUR 800 million and bonds to the American market in the amount of USD 1.0 billion, which became benchmark securities not only for Polish entities but also for issuers in Central and Eastern Europe.
 2.2013-2015 strategy: ‘PKO Bank Polski. Everyday the best’ strengthened the Bank’s position as a leader in key market segments.
 3.In 2013, PKO Bank Polski SA set a new standard for mobile payments – IKO – an innovative solution on the market of mobile payments, transformed in 2015 into the BLIK payment system, which became the Polish market standard.
 4.PKO Bank Polski SA has signed with EVO Payments International Acquisition GmbH an agreement for twenty-year strategic alliance in the electronic payment market and therefore sold a significant portion of shares in eService Sp. z o.o.
 5.PKO Bank Hipoteczny SA was formed, the operations of which include issuing long-term mortgage bonds and granting long-term mortgage loans to retail customers.
 6.PKO Bank Polski SA acquired shares of Nordea Group, including shares of Nordea Bank Polska SA and a portfolio of amounts due from corporate customers. In October 2014, a legal merger of the banks was carried out.
 7.PKO Towarzystwo Ubezpieczeń SA was formed, which provides property insurance services to retail customers of PKO Bank Polski SA.
 8.Expansion into foreign markets through actions aimed to establish the first foreign corporate branch of PKO Bank Polski SA abroad (in Frankfurt am Main in the Federal Republic of Germany).
20161.Approval of the 2016-2020 strategy: ‘We support the development of Poland and the Poles’ the objective of which is to continue to strengthen the position of the Bank Group as a leader in key market segments, increase the innovativeness and adapt to customer needs.
 2.PKO Leasing SA belonging to the Bank’s Group successfully closed the transaction of acquiring Raiffeisen-Leasing Polska SA, thus becoming the main lease provider in Poland with an over 13% market share.
 3.PKO Bank Hipoteczny SA effected the issue of mortgage bonds with the highest possible Moody’s rating of Aa3 that can be achieved by Polish securities.
 4.Continuing the expansion to foreign markets – measures aimed at forming abroad another branch of Bank in the Czech Republic.
 5.Starting cooperation with Poczta Polska SA in the scope of payment card handling.