Powszechna Kasa Oszczędności Bank Polski
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| Public | |
| Traded as | : PKO |
| Industry | Financial services |
| Founded | 1948 |
| Headquarters | Warsaw, Poland |
| Products | Retail, commercial and private banking |
| PLN 7.029 billion (2015) | |
| Total assets | PLN 285.6 billion (2016) |
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Number of employees
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29 220 (FTE, 2015) |
| Website | www |
Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (also known as PKO Bank Polski, PKO BP) is Poland's largest bank. It provides services to individual and business clients. The core business activity of PKO Bank Polski is retail banking. The full name Powszechna Kasa Oszczędności roughly means "General Savings Bank," and Bank Polski means "Polish Bank." Popularly only the acronym is used.
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 266 billion PLN (around 63 billion US dollars). Bank was ranked 510 in the Forbes Global 2000 for year 2010. 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. 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.
Although floated on the , as of May 2011 the state still directly and indirectly holds 51.24% of shares (40.99% belong to State Treasury and 10.25% to state-owned Bank Gospodarstwa Krajowego). However, the state shareholders informed recently that they intent to sell some of their shares. As Polish Minister of State Treasury Aleksander Grad said, Bank Gospodarstwa Krajowego will sell 10% and the Treasury Ministry will sell more shares according to market demand. Total government stake in PKO Bank Polski after this transaction is to fall to as low as 25%.
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Wikipedia