The SARS-CoV-2 pandemic, which has became a concern in all countries of the world, has led to the biggest economic turbulences in thirty years in Poland. The Bank’s Capital Group had prepared itself for a deterioration of the economic conditions, and in the period of freezing of economy, it focused on maintaining continuity of operations, ensuring safety of its customers and employees and increasing of the pace of digital transformation. The Group's companies and the Bank also got involved in supporting those suffering from the effects of the epidemic, offering its key competences, as well as PLN 22.8 million for financial assistance. The harsher economic conditions have translated to the results of the PKO Bank Polski Group, which in the first quarter of this year generated net profit of PLN 503 million - that is, 41.6 percent less than the year before.
“In March 2020, the Polish economy experienced a negative shock on a scale unknown to the younger generations. Under these difficult conditions, PKO Bank Polski focused on three key areas: ensuring continuity of operations, safety of its customers and employees and supporting the polish economy in the struggle against COVID-19. In all of these areas, we met the expectations. Thanks to the Bank's digital transformation, we were able to redirect customer traffic from branches to remote channels, enabling access to financial services, as well as the necessary support, needed to save workplaces. The Bank, companies of the Capital Group and our employees also joined efforts aimed at struggling directly with the epidemic”,
said Zbigniew Jagiełło, the President of the Management Board of PKO Bank Polski.
PKO Bank Polski is the undisputable leader of the Polish banking sector. In first half of 2020, its consolidated net profit amounted to PLN 1,3 bilion (the largest in the Polish banking sector) and the value of assets reached over PLN 377 billion. The Bank is the basic provider of financial services for all customer segments, achieving the highest shares in the deposit market (18.4 percent), loans (17.6 percent), leasing market (11.2 percent) and in the market of investment funds not dedicated (22.2 percent). With over 9.46 million payment cards, the bank is the largest debit and credit card issuer in Poland with a market share of over 21%. Thanks to the development of digital tools, including the IKO application, which has in the end of third quater of 2019 - 4,7 million active applications, PKO Bank Polski has become the most mobile bank in Poland. The Capital Group's companies strengthen the Bank's strong position. The Brokerage House of PKO Bank Polski is a leader in terms of the number and value of IPO and SPO transactions on the capital market.