In 2020, the Bank as one of the few in the entire region of Central and Eastern Europe, was included in the global Bloomberg Gender Equality Index, bringing together a listed company actively working for gender equality at work.
Bank in 2021
Performance of market valuation of Bank Pekao S.A.’s stock
The shares of Bank Pekao S.A. have been listed on the Warsaw Stock Exchange since June 1998 and they are one of the most liquid equities in Poland and Central and Eastern Europe. Since 2000, the Bank maintains Global Depositary Receipts (GDR) program. The Bank’s GDRs are traded on London Stock Exchange and on the over the counter market in the USA (the program will end on March 31, 2022).
The Bank’s market capitalization as of December 31, 2021 amounted to PLN 32.0 billion making the Bank one of the largest listed companies in Central and Eastern Europe. Given the high capitalization and liquidity the Bank’s shares are a part of many important stock indices maintained by domestic and foreign institutions including Polish blue chips index – WIG20 and WIG30, banking sector index WIG-Banks as well as MSCI Emerging markets. The Bank’s shares are also included in the WIG-ESG index, i.e. the index of socially responsible companies run by the Warsaw Stock Exchange.
In 2018 the shares of Bank Pekao S.A. were included in the STOXX Europe 600 Index, the index of the largest and most liquid securities in Europe and the FTSE Developed Equity Index, due to reclassification of Poland into developed market.
737 thousands of shares
Average daily turnover volume in 2021
17.3 PLN billion
Worth of trading in 2021
With the average daily turnover volume at the level of 737 thousands of shares and the worth of trading at PLN 17.3 billion in 2021, the share of the Bank’s stock in trading on the WSE amounted to 5.5%.
The share price of Bank Pekao S.A. increased by 99.7% y/y and reached PLN 122.00 as at the end of December 2021 compared to PLN 61.10 a year earlier. The return for the Bank’s shareholders was higher than the return for the WIG Banks index, which rose by 81.3% in 2021.
Polish banks share price performance in 2021 was primarily affected by the strong economic recovery after the first waves of the COVID-19 pandemic. Strong GDP growth translated into significant increase in lending, decrease in the cost of risk and marked increase in the sector’s profitability. Very positive factor for banks was the commencement of the interest rate hike cycle by the MPC in the fourth quarter of 2021. Additionally, some banks returned to paying dividends after a year of break, which undoubtedly influenced the perception of the sector by investors.
Basic information about Bank Pekao S.A. shares
| 2021 | 2020 | |
| Share price at the end of the year (PLN) | 122.00 | 61.10 |
| Maximum share price (PLN) | 131.75 | 107.60 |
| Minimum share price (PLN) | 61.10 | 40.80 |
| Number of shares | 262,470,034 | 262,470,034 |
| Capitalization at the end of the year (PLN billion) | 32.0 | 16.0 |
| Average trading volume | 737,242 | 1,108,242 |
| Earnings per share (PLN)* | 6.35 | 6.11 |
| Book value per share (PLN)** | 95.20 | 95.78 |
| Dividend per share paid in a given year (PLN) | 3.21 | 0.00 |
| P/E (x)*** | 19.2 | 10.0 |
| P/BV (x)*** | 1.28 | 0.64 |
*Earnings per share calculated as the sum of quarterly earnings per share for four consecutive quarters, where the last quarter is the third quarter of a given year.
**Book value per share calculated on the basis of financial data for the third quarter of a given year.
***Indicators calculated in relation to the financial data after the third quarter of a given year.
**Book value per share calculated on the basis of financial data for the third quarter of a given year.
***Indicators calculated in relation to the financial data after the third quarter of a given year.