Statement of financial position - PKO BP

The main items of the Statement of financial position

The total assets of PKO Bank Polski SA increased by PLN 4.8 billion (+1.8% y/y) compared with 2016 and amounted to PLN 277.8 billion as at the end of 2017. The increase was mainly due to an increase in liquid assets in the form of securities and amounts due from bank, which was financed by an increase in the deposit and capital base. As a result, PKO Bank Polski SA strengthened its position as the largest financial institution in the Polish baking sector.

Structure of assets (in PLN billion)

The increase in assets was mainly financed with an increase in amounts due to customers of PLN 13.2 billion and issue of securities of PLN 3.5 billion compared with 2016 and an increase in the Bank’s equity of PLN 3.4 billion y/y.

Loans and advances to customers

As at the end of 2017, the portfolio of loans and advances to customers of the Bank amounted to PLN 186.9 billion and it dropped in annual terms by PLN 2.2 billion.

Net loans and advances to customers by type (in PLN billion)

Net loans and advances to customers by maturity 

*including transactions with a repurchase clause and debt securities

W strukturze rodzajowej portfela kredytowego netto główną pozycję stanowią kredyty mieszkaniowe - ich udział na koniec 2017 roku wyniósł 48,3% portfela. Spadek wolumenów kredytów mieszkaniowych o 7,7 mld PLN w stosunku do końca 2016 roku wynikał głównie ze sprzedaży do PKO Banku Hipotecznego SA w 2017 roku portfeli kredytów mieszkaniowych zabezpieczonych hipotecznie na łączną kwotę około 5,6 mld PLN oraz efektem kursowym na portfelu walutowych kredytów mieszkaniowych. W 2017 roku odnotowano także dalszy wzrost najbardziej dochodowych kredytów konsumpcyjnych o 1,4 mld PLN oraz kredytów gospodarczych o 4,1 mld PLN.

Housing loans are the main item in the structure of the net loan portfolio by type – their share as at the end of 2017 was 48.3% of the portfolio. A decrease in the volume of housing loans of PLN 7.7 billion compared with the end of 2016 resulted mainly from pooling to PKO Bank Hipoteczny SA the portfolios of housing loans secured by mortgage for a total amount of PLN 5.6 billion and from the foreign exchange result on the portfolio of foreign currency housing loans. In 2017, the most profitable consumer loans increased further by PLN 1.4 billion and business loans by PLN 4.1 billion.

Long-term loans played a dominant role in the maturity structure of loans and advances to customers (79% of the portfolio), which was mainly due to a high share of housing loans in the structure of the loan portfolio.

The detailed information on loans and advances to customers of PKO Bank Polski SA can be found in the Separate financial statements of PKO Bank Polski SA.


As at the end of 2017, the securities portfolio of PKO Bank Polski SA amounted to PLN 50.5 billion and it went up by PLN 2.5 billion compared with the end of 2016.

Debt securities issued by the State Treasury dominated in the structure of the portfolio by type, and their volume went up by over PLN 7.6 billion in 2017, at the expense of NBP bills (down by PLN 4.8 billion y/y).

Securities portfolio 

Amounts due to customers

In 2017, amounts due to customers amounted to PLN 222.5 billion and went up by 6.3%, i.e. PLN 13.2 billion, which was mainly due to an increase in amounts due to corporate entities (of PLN 7.0 billion y/y), to individuals (of PLN 3.1 billion y/y and state budget entities (of PLN 3.0 billion y/y). The increase was mainly related to cash on current accounts (an aggregate increase of PLN 24.9 billion y/y), accompanied by a drop in loans received from non-monetary financial institutions (of PLN 1.8 billion y/y), which was mainly a result of ongoing repayment of loans and the foreign exchange effect.

Amounts due to individuals are the main item in the structure of amounts due to customers by type, the share of which in the structure went down compared with the prior year and amounted 67.6%.

The maturity structure of amounts due to customers changed significantly in 2017. The share of amounts due maturing up to 1 month went up and represented 70% of all amounts due to customers as at 31 December 2017, which was a result of an increase in cash accumulated on current accounts.

The share of the remaining maturity ranges went down, which is due to the phenomenon of the migration of funds from long-term deposits to short-term deposits and to investment fund companies. The above shift of funds also resulted in a lower share of amounts due maturing from 1 to 12 months.

Amounts due to customers by type (in PLN billion)

Amounts due to customers by maturity

External financing

Funds obtained from financial institutions are a supplementary source of financing of PKO Bank Polski SA’s activities, next to the deposit base. PKO Bank Polski SA is an active participant of the market of debt security issues, both local and international. The purpose of this activity is to diversify the sources of financing of operations and to adapt them to the regulatory requirements as regards long-term financial stability.

As at the end of 2017, the structure of the sources of long-term financing changed.  There was a considerable decrease in the share of loans received from monetary financial institutions, including the credit line from Nordea Bank AB (publ), which was an element of the transaction under which PKO Bank Polski SA acquired the assets of Nordea Group (the loan was obtained for the financing of the portfolio of acquired mortgage loans). The change in the level of these liabilities in annual terms results from considerable repayments of the liability. 

External financing (in PLN billion)

Loans received from non-monetary institutions were another significant category of long-term financing and they comprised mainly loans from the subsidiary PKO Finance AB, which deals with issuing securities on foreign markets. The decrease in these liabilities is mainly a result of changes in foreign exchange rates and a gradual repayment of financing obtained from other financial institutions.

Liabilities in respect of securities in issue went up by PLN 3.5 billion compared with the prior year. In 2017, the Bank issued two issues of own Eurobonds as part of the EMTN programme with a value of EUR 750 million and CHF 400 million.

The decrease in subordinated liabilities as a result of utilizing the call option on the loan of CHF 224 million and bonds of PLN 1.6 billion, accompanied by a new bond issue of PLN 1.7 billion.

Detailed information on the issues carried out by the Group is provided in Note 35 to the Consolidated financial statements of the PKO Bank Polski SA Group for the year 2017.