Press release



  • Consolidated net profit of Bank Pekao S.A. in the first quarter of 2018 amounted to PLN 392 million, which translated into a solid increase/growth of +12% y/y2
  • Increase in return on equity (ROE) by +35bp to 8.7%
  • Maintaining the market leading capital position - solvency ratio of 17.1% and Tier 1 ratio of 16.0%
  • Dividend policy as announced - PLN 7.90 per stock (99.3% payout ratio)

- This was the next quarter of record growth in line with the Bank's strategy focusing on smart growth in high-margin products and operational efficiency. We implement products that are already a market leader - such as “Konto Przekorzystne” account, which allowed to accelerate the acquisition of new customers by over 50%. A number of initiatives introduced in the new area of SMEs translates into an excellent dynamics of 41% in annual terms of sales of loans and leasing and factoring products. We see that in key areas we gain market share while maintaining strong cost discipline and we will want to keep this trend
- said Michał Krupiński, CEO and President of the Management Board of Bank Pekao S.A.

After the record year 2017, Bank Pekao S.A. reports subsequent records consistently  implementing the “Bison Strength” Strategy. Net profit PLN 392 million (+ 12% y/y) is achieved thanks to higher income from core operations in all segments and a strong cost discipline. The Bank showed an improvement in key profitability ratios - an increase in ROE +35bps to 8.7% and the interest margin by 6bps to 2.82%.

- We systematically improve the results achieved, both in terms of business growth, profitability and efficiency indicators. We improved the net profit, ROE ratio the interest margin increased. We maintain a high, double-digit growth in the key retail loans portfolio and a stable growth of the deposit base. We are one of the strongest banks in Poland as evidenced by our high capital ratios and dividend opportunities of the Bank. This is also confirmed by our decision to recommend 99.3% of the Bank’s profit for 2017 in the form of a dividend for our shareholders

- said Tomasz Kubiak, Vice President of the Management Board, supervising the Finance Division.

Record sales results of retail banking. In the first quarter of 2018 Bank Pekao S.A. once again reached a record level of sales of new key retail loans which volume growth in the annual terms increased by + 14.3% to PLN 59,3 million with strong price discipline. Thanks to the sale of PLN 2.8 billion in mortgage loans in the first quarter of the year, the dynamics of new loans amounted to + 26.6% quarterly and + 13.8% in annual terms, which translated into market share of new sales at 22% and position as a sales leader in February 2018. Achieving such good sales results was possible not only by offering customers a competitive offer, but also thanks to the optimization of the loan granting process, which shortened the time needed for the credit decision. Once again, Pekao S.A. became the leader in the sale of housing loans granted under the government program "Mieszkanie dla Młodych" (MdM). In addition, the development of investment product offerings translated into an increase in sales of 8.3x to PLN 659 million.

The new product offer gives 100,000 Konto Przekorzystne accounts. We achieved 4x higher monthly sales and +400 million PLN since its launch, thanks to the new savings account offer and marketing activities focused on acquisition[1].

The leader of mobile banking. We consistently improve the user experience and functionality in mobile and internet banking. In the first quarter the increase of active mobile banking users by 40% and high sales dynamics in electronic channels (+28%) showed the strength of Pekao's remote channels. Bank Pekao S.A. can boast of the largest number of customers’ smartphones using the contactless payment (NFC), which  grew by more than 70,000 during the quarter. In the fourth quarter of 2017, it accounted to 168,000 users, to increase later on to 244,000 in the first quarter of 2018.

Intelligent growth in corporate banking. We use the strength of the relationship and the Bank's universal model to maintain the cross-sell improvement in corporate banking. This indicates an increase in leasing and factoring by ~20% y/y. On the same level Bank Pekao S.A. maintains the growth rate of settlement processes (+19.6%).

Acceleration in SME banking. The Bank plans a strong growth in loan volumes and acquisition of new customers in the created division for the service of Small and Medium Enterprises. As a support for the implementation of this plan is to launch 61 dedicated SME Business Centers throughout Poland. Very dynamic business development and a number of initiatives that support an effective acquisition model and a wide range of offered products have resulted in an increase in customers of 3x y/y and growth in loan sales by 40%.

Bank Pekao S.A. remains the sector's leader in terms of quality and risk profile asset. The cost of risks in the first quarter decreased quarter on quarter to the level of 41 basis points. According to the "IFRS 9", the ratio of non-performing loans was 5.0%, while the coverage ratio reached 76.7%.


[1] From the start of the campaign in January 2018.




Bank Pekao S.A. was founded on March 17th, 1929 and nowadays is one of the largest financial institutions in Central and Eastern Europe. It is a Polish, international universal bank, the largest corporate bank, and the leader of the private banking market  in Poland. Pekao S.A. serves over 5 million customers, every second Polish company becomes  the bank’s client. Bank Pekao S.A. is one of the of the safest banks at the Pan-European level. Within the Pekao’s capital group there are several  companies which are national leaders in the area of brokerage, leasing, factoring and financial investments. With over 15 000 employees Pekao is one of the largest employers in Poland.

The history of Bank Pekao S.A. is the history of Polish banking system: it was the first bank in Poland that launched an ATM, issued the first credit card, opened a brokerage house, applied in practice biometrics in banking industry.

Since 1998 Pekao has been listed on Warsaw Stock Exchange in WIG20 index. It is one of the five largest companies on the Polish stock exchange.

Bank Pekao S.A. is a part of the PZU Group - the largest financial group in Central and Eastern Europe.

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