In the first quarter of 2022, the PKO Bank Polski Group generated a high result, which exceeded PLN 1.4 billion and was over 20% higher than a year before. The Group's assets grew by 9.6% y/y and reached PLN 422 billion. The Bank increased profitability measured by return on equity (ROE) up to 13% and thanks to over 25% growth of income and maintenance of cost control, it accomplished the C/I ratio on the level of 39.4 percent. In the very first days of Russia's aggression on Ukraine, the Group immediately joined the multi-dimensional aid activities, directed both to the refugees and the employees of the Group’s companies operating in Ukraine.
In the first quarter of 2022, in spite of the changing market environment, the PKO Bank Polski Group generated very good financial results. The first quarter was a period of further growth in the scale of business and improved result on banking activities. Digitization of services and thus high level of digital advancement translated into an increase in the share of remote channels in sale. The accomplished ROE profitability on the level of 13 percent and a strong capital base offer a solid foundation for further financing of development of economy, which is particularly important in the context of challenges caused by the war, or the necessity of accelerating the energy transformation,
stresses Iwona Duda, president of the Management Board of PKO Bank Polski
The new reality brought about by Russia’s aggression on Ukraine induced the Bank to focus its efforts on providing Poles’ access to cash after 24 February and parallel support actions for Ukrainian citizens. PKO Bank Polski, thanks to the efforts of its employees and organisational efficiency, passed this test very well,
adds Iwona Duda.
PKO Bank Polski is the undisputed leader of the Polish banking sector, and the value of its assets is PLN 422 billion. In the first quarter of 2022, it generated PLN 1.4 billion of net profit. The company serves 11.3 million customers. It is the primary provider of financial services for all customer segments, achieving the highest shares in deposits, loans and in the market of private individuals' mutual funds. Thanks to the development of digital tools, including the IKO application, which is actively used by 6.4 million customers, PKO Bank Polski is the most mobile bank in Poland. The company strengthens its foreign presence through corporate branches operating in Germany, the Czech Republic and Slovakia.