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.
PKO will use technology developed by Coinfirm, a Polish start-up that describes itself as the “go-to hub for blockchain research”, and a company that has a burgeoning reputation on the European high-tech scene.