The economic effects of the third wave of the COVID-19 pandemic were much less severe than the two prior ones. The relatively good economic situation, coupled with the Bank’s great resilience to the turmoil and a strict cost discipline translated to the increase in the Group’s profit in the first quarter of 2021 up to the levels before the pandemic. The Capital Group’s net profit reached PLN 1.2 billion and was 2.3 times higher than a year before. The Group has also expanded the scale of its operation. Its assets grew by 5.4% y/y and reached PLN 384 billion.
“The COVID-19 pandemic is affecting the condition of the Polish companies less, along with the results of PKO Bank Polski. The Company's profit in the 1st quarter of 2021 reached PLN 1.2 billion and was similar to the highest result in its entire 100-year history. In the course of the last 12 years, together with hundreds of managers and thousands of employees, we led the Bank from the paper era to the digital one and built a modern organisation. During this time, the Company’s assets increased from PLN 156 billion at the end of 2009 to PLN 384 billion nowadays. I am leaving it in a very good financial condition, ready for new business challenges.
said Zbigniew Jagiełło, President of the Management Board of PKO Bank Polski
PKO Bank Polski is the undisputed leader of the Polish banking sector, and the value of its assets is PLN 384 billion. In the first quarter of 2021, it generated PLN 1.2 billion of net profit. It is the primary provider of financial services for all customer segments, achieving the highest shares in the savings market (18.3%), loans (17.6%), the mortgage loan market (19.7%) and the private investment fund market. (19.2%). Thanks to the development of digital tools, including the IKO application, which already has over 5.5 million active applications, PKO Bank Polski is the most mobile bank in Poland. The strong position of the Bank is strengthened by the companies of the Capital Group. Dom Maklerski PKO Banku Polskiego is a leader in terms of the number and value of IPO and SPO transactions on the capital market.