PKO BP, Poland’s biggest lender, has warned that the current rate of increases in retail sales is “unsustainable.”
The total cost of the so-called anti-inflation shield launched by the Polish government to fight rising prices will carry a cost equal to 1.2 percent of Poland's 2022 GDP, the PKO BP bank has estimated.
The resignation of the PKO BP CEO will take effect on June 7.
PKO Bank Polski has joined the European Payments Initiative, an alliance of banks aiming is to create a unified payment solution for consumers and traders across Europe, the bank has announced in a press release.
PKO Leasing, owned by the PKO Bank Polski Group, is to provide small and medium-sized Polish companies affected by the coronavirus-related crisis with EUR 111 million (PLN 500 million) worth of leases, PKO Leasing has told PAP.
Poland's state-owned PKO BP bank launched the "Automarket" app for purchasing brand new and used vehicles, integrated with the bank's electronic channels, the company said in a press release on Thursday.
Poland's PKO BP Capital Group formed around Poland's biggest state-owned bank closed 2019 with profits at PLN 4,03 billion (EUR 950 million), the highest in the bank's history. PKO BP also raised its client pool to 10.9 million, including 4.2 million online users.
Four of the top five banks and five of the top ten are Polish, with PKO Bank Polski leading the way, just ahead of Bank Pekao and Bank Gospodarstwa Krajowego (State Development Bank).
Stress tests were conducted on a sample of 48 banks from the European Union and Norway, covering approximately 70 percent of assets of the European banking sector. PKO Bank Polski, which came first, was audited directly by the EBA.
Jakub Papierski, vice-president of PKO Bank Polski (PKO BP) board, said in New York that the main goal facing his bank, after Poland had been reclassified by the FTSE Russell agency to "developed market", is to gain new investors.