PKO
Bank
Hipoteczny
Spółka
Akcyjna
with
its
registered
office
in
Warsaw
at
ul.
Puławska
15,
02-515
Warsaw,
registered
in
the
District
Court
for
the
capital
city
of
Warsaw
in
Warsaw,
XIII
Economic
Division
of
the
National
Court
Register
with
the
KRS
no.
0000528469;
NIP: 204-000-45-48; REGON: 222181030; share capital (paid-up capital) PLN 1,611,300,000
Ladies and Gentlemen,
on
behalf
of
myself
and
the
entire
PKO
Bank
Hipoteczny
SA
team,
I
have
the
pleasure
of
presenting
to
you
the
report
showing
the
financial
results
for
the
financial
year
ended
31.12.2024.
It
was
a
special
year
for
us
as
we
celebrated
the
Bank's
10th
anniversary.
We
recorded
the
second
highest
net
profit
in
the
Bank's
history
at
PLN
130.3
million.
This
very
good
result
was
achieved
despite
the
challenges
that
affected
our
business.
One
of
these
was
the
new
edition
of
the
statutory
credit
holiday
programme,
which
decreased
our
net
result
by more than PLN 20 million.
For
the
last
few
years
PKO
Bank
Hipoteczny
SA
has
been
–
and
still
is
–
the
undisputed
leader
among
mortgage
banks
in
Poland
both
in
terms
of
total
assets,
loan
balances
and
mortgage
covered
bonds
issued.
As
at
the
end
of
2024,
the
Bank's
total
assets
amounted
to
nearly
PLN
17.4
billion,
of
which
PLN
16.6
billion
was
attributable
to
its
high
quality
residential
loan
portfolio.
Thanks
to
the
commitment
of
the
entire
team,
mortgage
loan
sales
reached
PLN
559
million.
The
balance
of
mortgage
outstanding
covered
bonds
amounted
to
PLN
7.2
billion,
which
represented
more
than
42%
of
the
total
value
of
outstanding
covered
bonds
issued
by
mortgage
banks
operating
in
Poland.
By
organizing
and
carrying
out
successive
issues,
we
are
continually
contributing
to
the
development
of
the
mortgage
covered
bond
market
in
Poland,
and
this
is
a
source
of
great
satisfaction
for us.
The
year
2024
was
also
the
period
in
which
we
continued
to
implement
PKO
Bank
Hipoteczny
SA's
strategy
for
2023
-
2025.
We
engaged
in
achieving
our
five
strategic
objectives
having
a
strong
business
and
equity
position.
Among
other
things,
we
have
been
developing
a
special
offer
as
part
of
our
ESG
activities,
which
is
one
of
the
pillars
of
our
strategy.
Together
with
PKO
Bank
Polski,
we
are
creating
an
offer
that
supports
sustainable
development
by
offering
mortgage
loans
and
contributing
to
the
building
of
our “green” mortgage bond issuance potential.
Invariably,
in
line
with
our
strategy,
we
maintain
a
safe
level
of
risk
in
the
Bank's
operations.
Both
the
capital
and
liquidity
ratios
are
at
safe
levels,
significantly
above
regulatory
requirements,
which,
combined
with
the
high
degree
of
collateralization
of
the
issued
mortgage
covered
bonds
(as
at
the
end
of
2024,
the
level
of
overcollateralization
was
111.3%
against
the
required
5%),
allows
them
to
maintain
their
Aa1
rating.
This is the highest rating available to Polish securities.
Our
Bank
is
made
up
of
exceptional
people
who
are
capable
of
achieving
ambitious
goals
as
well
as
completing
ground-breaking
projects.
It
is
thanks
to
the
daily
commitment
of
each
and
every
employee
that
the
Bank
not
only
achieves
such
good
financial
results,
but
also
sustains
its
competitive
edge.
This
ensures
that
we
remain
a
trusted
partner
to
our
customers, investors and sole shareholder, PKO Bank Polski.