Pursuant to the International Financial Reporting Standards (IFRS) as at 31 December 2023 the Bank’s Group comprised PKO Bank Polski S.A. as the parent and 36 direct or indirect subsidiaries (at all levels). All the subsidiaries were disclosed in the consolidated financial data pursuant to IFRS 10, “Consolidated financial statements”.
List of direct subsidiaries:
1 PKO Bank Polski S.A. holds investment certificates of the fund.
The list presents the share of PKO Bank Polski S.A. in the company’s share capital, and in the case of funds – share of the fund’s investment certificates held. All subsidiaries listed in the Consolidated financial statements of the PKO Bank Polski S.A. Group for the year ended 31 December 2023 (hereinafter: financial statements of the Bank’s Group for 2023) are accounted for using the acquisition accounting method.
A full list of the Bank’s subsidiaries, associates and joint ventures is presented in the 2023 financial statements of the Bank’s Group, in note 1 “Activities of the Group”.
In January 2023, the placing of Molina spółka z ograniczoną odpowiedzialnością 2 S.K.A. w likwidacji (in liquidation) and Molina spółka z ograniczoną odpowiedzialnością 4 S.K.A. w likwidacji (in liquidation) (entities from the Merkury fiz an portfolio) was entered in the National Court Register.
In September 2023, the Bank’s Management Board approved the merger of the investment funds NEPTUN – fizan (the acquiring fund) and Mercury – fiz an (the acquired fund) by transferring the assets of the acquired fund to the existing acquiring fund and allocating investment certificates of the acquired fund to a participant of the acquiring fund in exchange for investment certificates of the acquired fund. With regard to the continuation of the operations of the Merkury – fiz an fund by NEPTUN – fizan, this transaction had no impact on the Consolidated Financial Statements of the PKO Bank Polski S.A. Group for the year ended 31 December 2023. Aforementioned merger was effected on 30 January 2024.
“KREDOLEASING” sp. z o.o., a subsidiary of KREDOBANK S.A., commenced leasing activities. The company launched operations to a limited extent due to the war in Ukraine, where it is based.
The Bank provided services to PKO Bank Hipoteczny S.A. within the scope of intermediation in sales of housing loans for individuals, performing tasks as part of post-transaction services in respect of these loans and support tasks under the outsourcing agreement. The Bank offered its infrastructure and IT services and rented office space to selected Bank’s Group companies. Together with Centrum Elektronicznych Usług Płatniczych eService sp. z o.o., the Bank rendered services of payment transaction clearance.
A summary of receivables, liabilities, revenues and costs of the transactions between PKO Bank Polski S.A. and its subordinated entities, including these companies’ indebtedness vis-à-vis the Bank as at 31 December 2023, is presented in the financial statements of the Bank’s Group for 2023 in Note 72 „Transactions with the State Treasury and related parties”.
