Accounting policies
Valuation and classification into categories is carried out in accordance with the principles for determining the business model and assessing the characteristics of contractual cash flows referred to in note „General accounting policies for financial instruments”.
The item “Securities” also includes an adjustment relating to fair value hedge accounting for securities representing hedged items (note „Hedge accounting and other derivative instruments”).
Financial information
For more information on credit risk exposures, see note „Credit risk – financial information”.
| SECURITIES | held for trading | not held for trading, measured at fair value through profit or loss | measured at fair value through other comprehensive income | measured at amortized cost | Total |
|---|---|---|---|---|---|
| 31.12.2023 | |||||
| Debt securities | 546 | 592 | 108,054 | 87,227 | 196,419 |
| NBP money bills | – | – | 28,974 | – | 28,974 |
| Treasury bonds (in PLN) | 472 | 232 | 52,545 | 58,836 | 112,085 |
| Treasury bonds (in foreign currencies) | 1 | 295 | 4,574 | 1,439 | 6,309 |
| corporate bonds (in PLN) secured with the State Treasury guarantees | 9 | – | 10,180 | 13,619 | 23,808 |
| municipal bonds (in PLN) | 12 | – | 5,105 | 8,658 | 13,775 |
| corporate bonds (in PLN)1 | 52 | 65 | 2,609 | 2,413 | 5,139 |
| corporate bonds (in foreign currencies) | – | – | 4,067 | 2,262 | 6,329 |
| Equity securities | 32 | 1,054 | – | – | 1,086 |
| shares in other entities – not listed | – | 342 | – | – | 342 |
| shares in other entities – listed | 30 | 124 | – | – | 154 |
| participation units in investment funds, investment certificates, rights to shares, pre-emptive rights | 2 | 588 | – | – | 590 |
| Total (excluding adjustment relating to fair value hedge accounting) | 578 | 1,646 | 108,054 | 87,227 | 197,505 |
| Adjustment relating to fair value hedge accounting (note „Hedge accounting and other derivative instruments”) | – | – | – | (21) | (21) |
| Total | 578 | 1,646 | 108,054 | 87,206 | 197,484 |
1 The item includes bonds of international financial organizations of PLN 3,658 million.
| SECURITIES | held for trading | not held for trading, measured at fair value through profit or loss | measured at fair value through other comprehensive income | measured at amortized cost | Total |
|---|---|---|---|---|---|
| 31.12.2022 | |||||
| Debt securities | 164 | 578 | 65,211 | 68,556 | 134,509 |
| NBP money bills | – | – | 80 | – | 80 |
| Treasury bonds (in PLN) | 89 | 191 | 43,066 | 45,893 | 89,239 |
| Treasury bonds (in foreign currencies) | 2 | 321 | 4,397 | 713 | 5,433 |
| corporate bonds (in PLN) secured with the State Treasury guarantees | 3 | – | 9,373 | 12,100 | 21,476 |
| municipal bonds (in PLN) | 14 | – | 5,054 | 6,182 | 11,250 |
| corporate bonds (in PLN)1 | 56 | 66 | 2,852 | 1,989 | 4,963 |
| corporate bonds (in foreign currencies) | – | – | 389 | 1,679 | 2,068 |
| Equity securities | 29 | 1,124 | – | – | 1,153 |
| shares in other entities – not listed | – | 358 | – | – | 358 |
| shares in other entities – listed | 27 | 115 | – | – | 142 |
| participation units in investment funds, investment certificates, rights to shares, pre-emptive rights | 2 | 651 | – | – | 653 |
| Total (excluding adjustment relating to fair value hedge accounting) | 193 | 1,702 | 65,211 | 68,556 | 135,662 |
| Adjustment relating to fair value hedge accounting (note „Hedge accounting and other derivative instruments”)) | – | – | – | (30) | (30) |
| Razem | 193 | 1,702 | 65,211 | 68,526 | 135,632 |
1 The item includes bonds of international financial organizations of PLN 3,550 million.
| Treasury bonds (in foreign currencies) | 31.12.2023 | 31.12.2022 |
|---|---|---|
| – Polish Treasury bonds | 1,328 | 2,209 |
| – Ukrainian Treasury bonds | 836 | 420 |
| – US Treasury bonds | 3,633 | 2,804 |
| – Treasury bonds of the Federal Republic of Germany | 218 | – |
| – French Treasury bonds | 294 | – |
| Total | 6,309 | 5,433 |
| 31.12.2023 | 31.12.2022 | |
|---|---|---|
| Allowance not reducing the fair value of securities measured at fair value through other comprehensive income | 101 | 62 |
| SECURITIES BY MATURITY (excluding adjustments relating to fair value hedge accounting) | held for trading | not held for trading, measured at fair value through profit or loss | measured at fair value through other comprehensive income | measured at amortized cost | Total |
|---|---|---|---|---|---|
| 31.12.2023 | |||||
| without a stated maturity – equity securities | 31 | 1,081 | – | – | 1,112 |
| up to 1 month | 61 | 3 | 35,184 | 21 | 35,269 |
| 1 to 3 months | – | – | 4,360 | 475 | 4,835 |
| 3 months to 1 year | 249 | 103 | 11,060 | 14,615 | 26,027 |
| 1 to 5 years | 191 | 348 | 40,794 | 40,295 | 81,628 |
| more than 5 years | 46 | 111 | 16,656 | 31,821 | 48,634 |
| Total | 578 | 1,646 | 108,054 | 87,227 | 197,505 |
| SECURITIES BY MATURITY (excluding adjustments relating to fair value hedge accounting) | held for trading | not held for trading, measured at fair value through profit or loss | measured at fair value through other comprehensive income | measured at amortized cost | Total |
|---|---|---|---|---|---|
| 31.12.2022 | |||||
| without a stated maturity – equity securities | 29 | 1,124 | – | – | 1,153 |
| up to 1 month | 19 | 46 | 3,222 | 1,514 | 4,801 |
| 1 to 3 months | – | – | 278 | 211 | 489 |
| 3 months to 1 year | 17 | 28 | 3,729 | 1,275 | 5,049 |
| 1 to 5 years | 104 | 465 | 37,935 | 37,705 | 76,209 |
| more than 5 years | 24 | 39 | 20,047 | 27,851 | 47,961 |
| Total | 193 | 1,702 | 65,211 | 68,556 | 135,662 |