PKO Bank Polski

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Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna
TypeSpółka akcyjna[1]
IndustryBanking, financial services
FoundedFebruary 7, 1919; 104 years ago (1919-02-07) (as Pocztowa Kasa Oszczędności)[2][3]
1948 (as Powszechna Kasa Oszczędności)[4]
HeadquartersWarsaw, Poland
ProductsConsumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, savings, securities, asset management, wealth management, credit cards
PLN 2.645 billion ($580 million) (2020)[5]
Total assetsPLN 438 billion[6] ($103.7 billion) (2022)[7]
Number of employees
25,800 (FTE, 2020)[8]

Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (also known as PKO Bank Polski S.A., PKO BP S.A.)[1] is Poland's largest bank founded in 1919. It provides services to individual and business clients. The core business activity of PKO Bank Polski is retail banking. The full Polish name roughly translates to "General Savings Bank". Popularly, only the acronym "PKO" is used by clients.

With 1,145 branches located in Poland and abroad and a market capitalization of PLN 52 billion (EUR 12.6 billion equivalent) as of 2018, PKO BP Group is among the largest financial institutions in Poland and is also one of the largest financial groups in Central and Eastern Europe. [9][10]


On February 7, 1919, by the order of the Head of State Józef Piłsudski, the Postal Savings Bank was created. Its first director was appointed on December 28, 1919, Hubert Linde. For many years during the Second Polish Republic, Henryk Gruber was the president of the PKO. With time, a bank's head office was established in Warsaw with headquarters at ul. Świętokrzyska 31/33 and the first local branches: in Kraków, Lwów, Łódź, Poznań and Katowice. The first goal of the PKO was to introduce the Polish zloty into circulation instead of the Polish mark (as a derivative of the German mark). From 1920, the bank had a legal personality as a state institution. The employees of the funds were associated in the Association of Postal Savers Workers, which had their own wheels at larger branches, e.g. in Warsaw, in Łódź.[11]

PKO building on Sienkiewicza Street in Warsaw, before 1950

During the German occupation of Poland, in the Second World War, Bank Polski operated under German management.

In 1945, the cash register activity was resumed. On January 1, 1950, the Postal Savings Fund was liquidated, and its agencies were taken over by the General Savings Bank (Polish: Powszechna Kasa Oszczędności). In 1974, the PKO offer was enriched with a savings and settlement account for natural persons (commonly known as ROR).

From 1975 to 1987, the PKO branches operated within the structures of the National Bank of Poland, retaining their identity. On November 1, 1987, PKO Bank Polski became an independent bank again, as part of the economic reforms implemented by the communist government of Poland in its last years.

In 2019, they were announced the title sponsor for the Polish Ekstraklasa.[12]


Today (as at the end of 2015) PKO Bank Polski employs around 29,000 people and has a full-year net profit of over 7 billion PLN (more than 2 billion US dollars). Its assets are worth more than 285 billion PLN (around 80 billion US dollars). Bank was ranked 510 in the Forbes Global 2000 for year 2010.[13] The bank is also present outside Poland, notably in Ukraine after the acquisition of KredoBank (Кредобанк). The company is headquartered in central Warsaw.

Because of its size and position as one of the first banks, PKO Bank Polski is still one of the best recognized and most valuable brands in Poland. Specialists from The Banker magazine estimated the value of Bank's brand at US$1 billion and in Rzeczpospolita "Polish Brands 2010" ranking its value was set at PLN 3.6 billion.[14] In the 2011 edition of ranking "The BrandFinance® Banking 500" prepared by the British firm Brand Finance, which includes the most valuable bank brands in the world, PKO Bank Polski brand was valued at US$1.480 billion. It gives PKO Bank Polski the 1st place in Poland and Central and Eastern Europe and 114th place in the world.[15]


PKO Bank Polski is listed on the Warsaw Stock Exchange. As of 3Q 2020, the state directly and indirectly holds 31.39% of shares (29.43% belong to the State Treasury of Poland and 1.96% to state-owned Bank Gospodarstwa Krajowego).[16]

Financial data[edit]

Rotunda PKO in Warsaw
PKO Bank Polski in Kraków
Main building of PKO Bank Polski in Szczecin
Year Net profit[17]
(in billion PLN)
(in billion PLN)
2018 3.741 324.3
2017 3.104 296.9
2016 2.874 285.6
2015 2.609 266.93
2014 3.079 243.8
2013 3.234 196.3
2012 3.738 193.2
2011 3.807 190.7
2010 3.311 167.2
2009 2.432 153.7
2008 2.881 131.2
2007 2.720 105.3
2006 2.047 99.8
2005 1.676 90.3
2004 1.872 85.1
2003 1.228 84.4
2002 1.051 82.0

Capital Group[edit]

PKO Bank Polski is the leader of the Capital Group. In addition to the parent, the group structure includes wholly owned and majority-owned subsidiaries and associates. These pursue their own business objectives whilst supporting the Bank's sales objectives and acting as its service providers. The subsidiary companies also complement the Bank's offer with such services as leasing, settlement of electronic card transactions, factoring and investment fund management.[18]

Companies in PKO Bank Polski Capital Group - Direct subsidiaries:

  • PKO Towarzystwo Funduszy Inwestycyjnych SA (investment fund management, Warsaw)
  • PKO BP Bankowy Powszechne Towarzystwo Emerytalne SA (pension fund management, Warsaw)
  • PKO Leasing SA (leasing services, Łódź)
  • PJSC KredoBank (financial services, Lviv, Ukraine)
  • Inter-Risk Ukraina Sp. z o.o. (debt collection services, Kyiv, Ukraine)
  • Finansowa Kompania "Prywatne Inwestycje" Sp. z o.o. (factoring, Kyiv, Ukraine)
  • PKO Życie Towarzystwo Ubezpieczeń SA (insurance services, Warsaw)
  • PKO Finance AB (financial services, Stockholm, Sweden)
  • Bankowe Towarzystwo Kapitałowe SA (services, Warsaw)
  • PKO BP Finat Sp. z o.o. (intermediary financial services, Warsaw)
  • Qualia Development Sp. z o.o. 3 (real estate development, Warsaw)
  • Centrum Haffnera Sp. z o.o. (property management subsidiaries, Sopot)
  • Merkury – fiz an (invest the funds collected from participants in the fund, Warsaw)


See also[edit]


  1. ^ a b "Statut: Powszechna Kasa Oszczędności bank Polski Spółka Akcyjna" (PDF). Archived from the original (PDF) on 2021-01-10. Retrieved 2020-05-28.
  2. ^ Dekret o utworzeniu Pocztowej Kasy Oszczędnościowej, Dz. U. z 1919 r. Nr 14, poz. 163
  3. ^ "PKO Bank Polski – 100 lat śmiałych decyzji". Retrieved 2021-02-10.
  4. ^ Dekret z dnia 25 października 1948 r. o reformie bankowej, Dz. U. z 1948 r. Nr 52, poz. 412
  6. ^ "PKO BP miał 237 mln zł straty netto, 438,5 mld zł aktywów w III kw. 2022". (in Polish). Retrieved 17 November 2022.
  7. ^ "The Global 2000". Retrieved 18 November 2022.
  8. ^ "Charakterystyka działalności" (in Polish). Retrieved 18 November 2022.
  9. ^ "EBRD invests in PKO Bank Polski subordinated bonds". Retrieved 2019-06-06.
  10. ^ "PKO BANK POLSKI W LICZBACH". Retrieved 2019-06-07.
  11. ^ „Łódź w Ilustracji”, 1938, nr 1. s. 2 (grupa uczestników uroczystości poświęcenia łódzkiego lokalu Zrzeszenia; 9 XII 1937)
  12. ^ "PKO Bank Polski partnerem tytularnym Ekstraklasy" (in Polish). 28 June 2019. Retrieved 8 February 2021.
  13. ^ "Forbes Global 2000". Forbes.
  14. ^ "New current accounts in PKO Bank Polski's offer". PKO Bank Polski. 2011-03-10. Archived from the original on 2012-07-21.
  15. ^ "The BrandFinance® Banking 500". Brand Finance.
  16. ^ "Financial results 3Q& 9M 2020" (PDF). PKO Bank Polski Investor Relations website. Third Quarter 2020. p. 44.
  17. ^ a b "PKO Bank Polski/Investor Relations".
  18. ^ "PKO Bank Polski/Capital Group".

External links[edit]