2. Group structure
The Group consists of Bank Pekao S.A. as the parent entity and the following subsidiaries
| NAME OF ENTITY | LOCATION | CORE ACTIVITY | PERCENTAGE OF THE GROUP’S OWNERSHIP RIGHTS IN SHARE CAPITAL/VOTING | |
| 31.12.2021 | 31.12.2020 | |||
| Pekao Bank Hipoteczny S.A. | Warsaw | Banking | 100.00 | 100.00 |
| Pekao Leasing Sp. z o.o. | Warsaw | Leasing services | 100.00 | 100.00 |
| PeUF Sp. z o.o. | Warsaw | Financial support | 100.00 | – |
| Pekao Investment Banking S.A. | Warsaw | Brokerage | 100.00 | 100.00 |
| Pekao Faktoring Sp. z o.o. | Lublin | Factoring services | 100.00 | 100.00 |
| Centrum Kart S.A. | Warsaw | Financial support | 100.00 | 100.00 |
| Pekao Financial Services Sp. z o.o. | Warsaw | Transferable agent | 66.50 | 66.50 |
| Pekao Direct Sp. z o.o. | Cracow | Call-center services | 100.00 | 100.00 |
| Pekao Property S.A. (in liquidation) | Warsaw | Real estate development | 100.00 | 100.00 |
| FPB – Media Sp. z o.o.(in bankruptcy) | Warsaw | Real estate development | 100.00 | 100.00 |
| Pekao Fundusz Kapitałowy Sp. z o.o. (in liquidation) | Warsaw | Business consulting | 100.00 | 100.00 |
| Dom Inwestycyjny Xelion Sp. z o.o. | Warsaw | Financial intermediary | – | 100.00 |
| Pekao Investment Management S.A. | Warsaw | Holding | 100.00 | 100.00 |
| Pekao TFI S.A. | Warsaw | Asset management | 100.00 | 100.00 |
As at 31 December 2021 and 31 December 2020 all subsidiaries of the Bank have been consolidated. As at 31 December 2021 and 31 December 2020 the Group held no shares in entities under joint control.
Investments in associates
| NAME OF ENTITY | LOCATION | CORE ACTIVITY | PERCENTAGE OF THE GROUP’S OWNERSHIP RIGHTS IN SHARE CAPITAL/VOTING | |
| 31.12.2021 | 31.12.2020 | |||
| Krajowy Integrator Płatności S.A. | Poznań | Monetary brokerage | 38.33 | – |
Acquisition of the shares of Krajowy Integrator Płatności S.A.
On 31 March 2021, the purchase transaction was completed, as a result of which Bank became the owner of 210 641 shares constituting 38.33% of the capital and entitling to 38.33% of votes at the General Meeting of Krajowy Integrator Płatności S.A., the operator of the Tpay.com system. As a result of the transaction, the Bank will offer its business customers a fully comprehensive payment acceptance offer, supplemented with products for the dynamically growing online sales sector.
Sale of 100% of shares in Dom Inwestycyjny Xelion Sp. z o.o.
On 29 October 2021, a promised agreement was signed for the sale of 100% of shares in Dom Inwestycyjny Xelion Sp. z o.o. (‘Xelion’), as a result of which the Bank sold to Quercus TFI S.A. (through the special purpose vehicle Quercus Agent Transferowy Sp.z o.o.) 120 100 shares, constituting 100% of shares in the capital and entitling to 100% votes at the General
Meeting of Xelion. The promised Xelion sale agreement was signed after the conditions precedent to the transaction, contained in the preliminary agreement for the sale of shares signed in December 2020, were met, i.e. after obtaining the relevant regulatory approvals, as well as the payment of Xelion funds to the Bank
Therefore, on 29 October 2021, the ownership of the abovementioned shares was transferred to Quercus Agent Transferowy
Sp. z o.o. The sale settlement is presented in Note 27.
Acquisition of shares in PeUF Sp. z o.o.
In 2021, Pekao Leasing Sp. z o.o., a subsidiary of the Bank, acquired 100% shares in Metsi Sp. z o.o. After changing the agreement of Metsi Sp. z o.o., it operates under PeUF Sp. z o.o. and deals with the distribution of insurance.