PKO Bank Polski confirms high capital adequacy level
PKO Bank Polski has successfully passed another capital adequacy test carried out by the European Banking Authority (EBA), in close cooperation with the Polish Financial Supervision Authority (KNF).
Once more, PKO Bank Polski has confirmed its strong capital position by sustaining - in both reviewed periods: December 2012 and June 2013 – its Tier1 capital adequacy ratio at the level exceeding 12 percent, significantly above 9 percent recommended by the EBA.
This was yet another test in a series of reviews carried out by the EBA, in which PKO Bank Polski takes place. It has been aimed at strengthening investors’ confidence in the European banking sector, by providing them with a wide range of uniformed data derived from the European largest banks. The test has been carried out on a sample of 64 banks with significant position in the EU member countries.
PKO Bank Polski has been the only Polish bank taking part in the test.
In last year’s capital adequacy test carried out by the EBA, in close cooperation with the KNF and related to the European supervision’s recommendations of December 2011 on creating by banks temporary capital buffers, PKO Bank Polski’s result also proved to be above requested levels.
*** PKO Bank Polski is the Polish banking sector leader. After three quarters of 2013, PKO Bank Polski Capital Group posted net profit of PLN2.29 billion. The bank is Polish company with the highest value of free-float shares listed on the WSE. PKO Bank Polski was ranked as the third one in Banking Quality 2013 ranking developed by TNS Polska and Puls Biznesu daily. The bank’s Contact Centre, for the fourth consecutive time, was the winner in a cyclical survey of bank hot-lines carried out by ARC Market and Opinion. According to a survey by Marketing Research Centre Indicator and the Warsaw Banking Institute, it has been a bank of the first choice for small and medium-sized companies. PKO Bank Polski’s annual reports are regular winners in The Best Annual Report contest organized by the Accounting and Tax Institute in the Banks and Financial Institutions’ category. For complying with corporate governance principles and its activity in Corporate Social Responsibility area, PKO Bank Polski was honoured with the Economic Prize of the President of the Republic of Poland. PKO Bank Polski is also a bank with the strongest image in Poland and the prestigious magazine The Banker values PKO Bank Polski brand at USD1.25 billion. In the Most Valuable Polish Brands 2012 ranking by Rzeczpospolita daily, PKO Bank Polski brand proved to be the most valuable one in the finance category – it was valued at PLN3.72 billion. The jury of the contest the Banking World Leaders, organized within the framework of the Polish Economic Congress, awarded PKO Bank Polski with the prize in the 2012 Best Bank and The Most Innovative Bank category for its new offer of School Savings Associations (SKO). In rankings based on students’ opinion, the bank found itself among the best employers in the banking sector. Surveys carried out among students of the best universities in the country by a global company Universum Global and AIESEC have confirmed the bank’s high ranking in this category.