‘2009 posed serious challenges for the Polish and global banking sectors’ Zbigniew Jagiełło, the president of PKO BP, told the conference. ‘We are the more happy that PKO BP has managed with those challenges reaching good financial results and strengthening its position as the CEE retail banking leader. PKO BP has also made use of its potential by becoming the main bank financing Polish economy in 2009’ he added.
Owing to a share issue carried out in Q4 2009, PKO BP became the largest in terms of assets (PLN 156.5 billion, up by 16.2%) bank in this region of Europe.
PKO BP deposits reached PLN 121.9 billion at the end of 2009 and were by PLN 20.9 billion higher than at the end of 2008. The bank noted a record growth of corporate deposit portfolio which increased by 46% to PLN 8.2 billion.
The gross value of credits reached PLN 117.7 billion at the end of 2009 – PLN 16.4 billion more than at the end of 2008. The rate of non-performing loans, according to MSSF, came to 7.0% (up by 0.3% as compared with the end of Q3).
PKO BP signed the Global Loan 2 agreement with the European Investment Bank obtaining a EUR 150 million credit line for financing small and mid-sized companies and developing urban infrastructure. PKO BP was also the only new member state bank invited by the EIB to participate in the Marguerite Fund (The 2020 European Fund for Energy, Climate Change and Infrastructure) and was granted the status of a founding institution (‘Core Sponsor’).
PKO BP is a strategic investor in Ukrainian Kredobank (over 99.5% of shares), who ended 2009 with a loss of PLN 190 million.
Last year PKO BP ran 1,228 posts hiring 27,846 people (a drop in employment of 4.6%), 2,388 ATMs, 6,276 open accounts (drop by 1.4%), 7,456 issued bank cards including 1,106 credit cards (increase by 5.7%).
According to Zbigniew Jagiełło, 2010 should see a slight improvement.
JB