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Annual
Report 2022

42. Equity

Significant accounting policies

Equity is comprised of the capital and funds created by the companies of the Group in accordance with the binding legal regulations and the appropriate laws and Articles of Association. Equity also includes retained earnings. Subsidiaries’ equity line items, other that share capital, are added to the relevant equity line items of the parent company, in the proportion of the Group’s interest.

The equity of the Group includes only those parts of the subsidiaries’ equity which were created after the date of purchase of shares or stocks by the parent entity.

The Group equity consists of the following:

  1. share capital – applies only to the capital of the Bank as the parent entity and is presented at nominal value specified in the Articles of Association and in the entry in the Enterprises Registry,
  2. ‘issue premium’ – surplus generated during share issues over the nominal value of such issues, remaining after the issue costs are covered. Moreover, this item also includes a change in the value of minority shares, ensuing from an increase of the share of the Parent entity in Bank’s share capital,
  3. the general banking risk fund is established at Bank Pekao S.A. in keeping with the Banking Act dated 29 August 1997 from profit after tax,
  4. other reserve capital utilized for the purposes defined in the Statute is created from appropriations of profits, 
  5. revaluation reserve includes the impact of revaluation of debt financial instruments measured at fair value through other comprehensive income, revaluation or sale of investments in equity instruments designated at fair value through other comprehensive income, revaluation of derivative instruments hedging cash flows, remeasurements of the defined benefit liabilities and the value of deferred tax for items classified as temporary differences, recognized as valuation allowance. In the statement of financial position, the valuation allowance is presented as net value, 
  6. other capital: 
    • other supplementary capital, established in keeping with provisions under the Articles of Association of companies from profit appropriations, 
    • bonds convertible to shares – includes the fair value of financial instruments issued as part of transactions settled in equity instruments, 
    • brokerage activity fund for stock broking operations, carried out by Bank Pekao S.A., 
    • retained earnings from prior periods includes undistributed profit and uncovered losses generated/incurred in prior periods by subsidiaries consolidated full method, 
    • net profit/loss which constitutes profit/loss presented in the income statement for the relevant period. Net profit is after accounting for income tax.

Financial data

Share capital

Shareholding structure

CLASS/ISSUE TYPE OF SHARES NUMBER OF SHARES NOMINAL VALUE OF CLASS/ISSUE EQUITY COVERAGE REGISTRATION DATE DIVIDEND RIGHTS (FROM DATE)
A Common bearer stock 137 650 000 137 650 fully paid-up 21.12.1997 01.01.1998
B Common bearer stock 7 690 000 7 690 fully paid-up 06.10.1998 01.01.1998
C Common bearer stock 10 630 632 10 631 fully paid-up 12.12.2000 01.01.2000
D Common bearer stock 9 777 571 9 777 fully paid-up 12.12.2000 01.01.2000
E Common bearer stock 373 644 374 fully paid-up 29.08.2003 01.01.2003
F Common bearer stock 621 411 621 fully paid-up 29.08.2003 19.05.2006
G Common bearer stock 603 377 603 fully paid-up 29.08.2003 15.05.2008
H Common bearer stock 359 840 360 fully paid-up 12.08.2004 01.01.2004
I Common bearer stock 94 763 559 94 764 fully paid-up 29.11.2007 01.01.2008
Total number of Shares (pcs) 262 470 034
Total share capital in PLN thousand 262 470
Nominal value per share = PLN 1.00

Change in the number of shares (pcs)

2022 ISSUED AND FULLY PAID-UP SHARES TOTAL
Opening balance 262 470 034 262 470 034
Closing balance 262 470 034 262 470 034
2021 ISSUED AND FULLY PAID-UP SHARES TOTAL
Opening balance 262 470 034 262 470 034
Closing balance 262 470 034 262 470 034

Other capital and reserves, retained earnings and profit for the period

The table below presents the structure of the Group’s equity attributable to equity holders of the Bank

31.12.2022 31.12.2021
Share premium 9 137 221 9 137 221
General banking risk fund 1 982 459 1 982 459
Other reserve capital 10 800 588 9 684 220
Revaluation reserves, in this: -3 295 657 -1 618 480
remeasurements of the defined benefit liabilities (net of tax) -53 080 -44 917
revaluation of debt financial instruments and loans measured at fair value through other comprehensive income (net of tax) -1 156 796 -518 881
revaluation or sale of investments in equity instruments designated at fair value through other comprehensive income (net of tax) 153 042 200 877
revaluation of hedging financial instruments (net of tax) -2 238 823 -1 255 559
Other supplementary capital, in this: 353 611 369 538
supplementary capital 309 792 325 719
bonds convertible into shares – equity component 28 819 28 819
fund for brokerage activities 15 000 15 000
Other capital and reserves 18 978 222  19 554 958 
Retained earnings 1 804 621 1 859 104
Net profit for the period 1 717 570 2 174 897
Retained earnings and net profit for the period 3 522 191  4 034 001 
Total 22 500 413  23 588 959 

The net profit of the Bank for 2021 in the amount of PLN 2 236 829 thousand was distributed in the following way: PLN 1 128 621 thousand was allocated to the payment of dividends, and the remaining part of the net profit in the amount of PLN 1 108 208 thousand was allocated to reserve capital.

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