Ahead of the market. The PKO Bank Polski Group presents its results for 2024.

2025.03.13

· For the PKO Bank Polski Group, 2024 was a period of very dynamic growth and development, publication of the new strategy for 2025-2027 ‘Number 1 and Full Stop’, and, above all, following the needs of its clients.

· The Group systematically increased its scale of operations and market share in the retail and corporate areas. Its assets increased to 525 billion PLN and the number of bank clients increased to 12.1 million. Financing granted to clients increased by 9.6 percent to 294 billion PLN, and savings obtained increased by 11.4 percent, reaching 604 billion PLN.

· The bank recorded a significant acceleration in the area of corporate loans in the fourth quarter and continued double-digit growth in retail loans. The market share in the area of consumer loans increased to 19.41 percent and in the area of mortgage loans to almost 26 percent.

· The bank achieved a 19.6 percent increase in income from core activities and demonstrated high cost efficiency. The cost-to-income ratio (C/I) reached an all-time high of 29.5 percent. The Group's net profit exceeded PLN 9.3 billion and profitability measured by return on equity (ROE) reached 19.2 percent. In 2024, PKO Bank Polski advanced to the TOP 3 most recommended Polish banks in the NPS ranking. The bank's services are recommended by both individual clients and clients from the enterprise and corporate segment.

· The company's market capitalisation amounted to PLN 74.7 billion at the end of 2024, which means an annual increase of about 19 percent.

PKO Bank Polski experienced above-market growth in 2024 and is fully prepared to finance the expected acceleration of Poland's economic development. The Group's profit in 2024 amounted to PLN 9.3 billion, which is 69.1 percent more than in 2023. The bank increased its income from core activities by 19.6 percent and systematically expanded its scale of operations. As a result, the Group's assets increased to PLN 525 billion in 2024, and the number of bank clients exceeded 12.1 million. The bank also demonstrated high cost efficiency. The cost-to-income ratio (C/I) was 29.5 percent. The cost of risk reached 39 basis points and the NPL ratio was 3.59 percent. The company's market capitalisation increased by around 19 percent in the course of 2024.

The best result ever is ensured by the readiness to finance investments in Poland on a large scale.

- For the PKO Bank Polski Group, 2024 was a period of a new beginning and acceleration. We focused on a strategy based on growth and development. In addition, taking advantage of our unique competitive advantages and the favourable economic situation, we strengthened our position as the undisputed leader among financial institutions operating in Poland. As a result, we are ready to finance the expected investment boom. We will finance the needs of Polish entrepreneurs, including their expansion abroad, and participate in the largest transactions on the market,

emphasised Szymon Midera, President of PKO Bank Polski.

We focus on our clients

The Bank's results were supported by the increased scale of business. The Group's assets reached PLN 525 billion and the number of the Bank's clients reached 12.1 million. Client savings increased by over 11 percent y/y to PLN 604 billion, and financing granted to clients reached PLN 294 billion.

The bank increased its market share in retail loans (to 23.5 percent) and mortgage loans (to 26 percent). Poland's largest bank also accelerated the growth of financing for corporate clients (5.5 percent increase y/y).

Clients are increasingly satisfied with their relationship with PKO Bank Polski. Last year, the bank ranked third in the NPS ranking of the most recommended Polish banks by individual clients and by the enterprise and corporate segment. This ranking is based on a survey of customer loyalty, satisfaction and experience.

Safe Polish bank. Cost of risk under control

The NPL ratio, which determines the quality of the loan portfolio, reached 3.59 percent at the end of 2024, and the cost of risk was 0.39 percent. The Bank also maintained a safe capital and liquidity position. The total capital ratio of the Bank Group amounted to 18.58 percent, and the Tier 1 ratio reached 17.39 percent.

The year of the strategy – PKO Bank Polski Group ‘Number one and Full Stop’

- Our strategic task is to respond quickly and effectively to the needs of our clients and business partners. I want the entrepreneurial way of thinking and acting to become a catalyst for as many specific actions of the bank as possible

– added Szymon Midera.

The new strategy of the PKO Bank Polski Group assumes a change in the Group's business model through the implementation of 7 specific business and 4 financial objectives, based on activities within 7 pillars.

· Pillar 1. Number 1 for the everyday needs of clients.

· Pillar 2. Number 1 in ecosystems.

· Pillar 3. Number 1 for a better financial future for clients.

· Pillar 4. Number 1 in accessibility for clients - in branches and digitally.

· Pillar 5. Number 1 as a partner for Polish business.

· Pillar 6. Number 1 in financing the energy transition.

· Pillar 7. Number 1 as a Polish bank in Europe

The strategy responds to the daily expectations of our clients, who need convenient and always available financial services. It also refers to the current needs of the Polish economy - energy transformation, building the value of national capital and investments necessary for the growth and maintenance of our country's competitiveness.

***

PKO Bank Polski is the largest bank in Poland, and institution with over 100 years of tradition. We provide financial services to more than 12 million individual, business, corporate and local government customers. Thanks to the IKO application, we are the most mobile bank in Poland. Every second we settle in over 30 transactions by IKO. We process around one million inbound and outbound transfers every day. We are in 314 counties, and 75% of Poles have less than 5 km from home to us. The expansion of our clients is supported by the bank's corporate branches in Germany, Czech Republic, Slovakia and Romania. Through the PKO Foundation, we initiate and implement social projects. We are also involved in supporting culture and sports. PKO Bank Polski Capital Group provides the most comprehensive offer of financial services in Poland. It includes, among others, a company operating in the leasing, pension insurance, investment funds and factoring. The stock market capitalization of PKO Bank Polski at the end of 2024 amounted to PLN 74.7 billion.
#no. 1 and Full Stop

Michał Zwoliński

Press Center

prasa@pkobp.pl

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