Legal basis:
Article 17. 1 of the MAR Regulation
the Report:
The Management Board of PKO Bank Polski S.A. (“Bank”) hereby announces that on 8 December 2022 it approved the strategy for years 2023-2025 “READY FOR THE CHALLENGES, FOCUSED ON THE FUTURE” (“Strategy”) which has also been approved by the Supervisory Board. Below, the Bank presents a description of the main points of the Strategy in terms of financial and business objectives contained therein.
The strategy is based on the implementation of seven pillars:
- Customer at the center: simple, friendly, and accessible bank
- Lifestyle banking: Bank of the Future focused on modern acquisition
- The best value proposition for business customers thanks to the scale of the Bank’s Group
- Leader of the ESG transition in the Polish banking sector
- Agile technologies and future-ready operations
- Culture of innovation and agility – PKO Bank of Talents
- Leveraging Bank's strong position for inorganic growth
The Bank's assumption is that the implementation of the Strategy for 2023-2025 should translate into the accomplishment of ambitious business goals:
- Improvement of customer satisfaction and becoming TOP3 in 2025 in terms of NPS for each customer group;
- Improvement of employee satisfaction measured by an increase in the eNPS indicator by min. 20 points in 2025 vs. 2022;
- The largest volume of new ESG financing in Poland in 2025;
- Min. 30% of women in material risk taker positions in 2025;
- Digitization rate of processes for retail customers at approx. 100% in 2025;
- Growth of the base of primary customers under 35 y.o. by 25% by 2025 (vs. historical results);
- 20% increase in non-banking revenues of the Bank’s Group companies in the period 2023-2025.
In addition to business goals, financial targets have also been set:
- ROE over 12% in 2025 assuming an increase in Group equity by app. 60% in the strategy horizon and level of NBP reference rate at 3.0% in 2025;
- C/I ratio in 2025 below 45%;
- Cost of Risk in 2025 in the range of 0.70%-0.90%;
- Ability to pay dividends / buy back own shares.
The description of the main assumptions of the Strategy together with the context, pillars, as well as business and financial goals is included in the appendix to this report.
Legal Disclaimer
Certain information contained in the attached material are derived from publicly available sources which the Bank believes are reliable, but the Bank does not make any representation as to their accuracy or completeness. Information contained in the attached material is subject to, and must be read in conjunction with, all other publicly available information, including, where relevant any fuller disclosure document published by the Bank. Information contained in this material has not been independently verified and is, in any case, subject to changes and modifications.
The attached material includes financial information or indicators that were not subject of an audit, a review or any other evaluation by any external auditor.
Furthermore, the Bank hereby announces that these objectives and targets included in the Strategy are not a forecast or estimate of results, including financial results, and concern only the intended directions of Bank’s activities in 2023-2025. Unless such reporting obligation arises under applicable laws, the Bank shall not publish any updates, modifications or revisions of the information, data or statements contained in the report or attached material, as well as the Bank shall not publish information on any change in the Strategy or intentions of the Bank, or occurrence of facts or events that affect the Bank’s Strategy or intentions.
Neither the Bank nor any of its representatives, subsidiaries or parent entities shall be held accountable for any damage resulting from the use of the material or a part thereof, or its contents or in any other manner in connection with this material.
This Strategy includes forward-looking statements. These forward-looking statements are based on current knowledge and opinions of the Bank’s Management Board and involve a number of known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Bank to be materially different from information contained herein.
Presented information should not be treated as a part of any invitation or offer to sell any securities, invest or deal in or a solicitation of an offer to purchase any securities or recommendation to conclude any transaction, in particular with respect to securities of the Bank.