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Annual
Report 2022

45. Related party transactions

The transactions between the Bank and related parties are typical transactions arising from current operating activities conducted by the Bank. Such transactions mainly include loans, deposits, foreign currency transactions and guarantees.

The credit granting process applicable to the Bank’s management and entities related to the Bank

According to the Banking Act, credit transactions with Members of the Bank’s Management Board and Supervisory Board, persons holding managerial positions at the Bank, with the entities related financially or organizationally therewith, shall be effected according to Regulation adopted by the Supervisory Board of the Bank.

The Regulation provides detailed decision-making procedures, applicable to transactions with such persons and entities, also defining the decision-making levels authorized to take decisions. In particular, the transactions with the Members of the Bank’s Management Board or Supervisory Board or with an entity related therewith financially or organizationally, are subject to decisions taken by the Bank’s Management Board and Supervisory Board.

Members of the Bank’s Management Board and entities related therewith financially or organizationally may take advantage of credit products offered by the Bank on standard terms and conditions of the Bank. In particular, the Bank may not offer more advantageous credit interest rates to such persons or entities.

Credit risk assessment is performed using the methodology applied by the Bank, tailored to the client’s segment and type of transaction.

In case of entities related to the Bank, the standard credit procedures are applied, with transaction-related decisions taken exclusively at level of the Bank’s Head Office.

Related party transactions as at 31 December 2022

NAME OF ENTITY RECEIVABLES FROM LOANS AND PLACEMENTS SECURITIES RECEIVABLES FROM REVALUATION OF DERIVATIVES OTHER RECEIVABLES LIABILITIES FROM LOANS AND DEPOSITS LIABILITIES FROM REVALUATION OF DERIVATIVES OTHER LIABILITIES
PZU S.A. – the Bank‘s parent entity 8 3 991 4 389 185 051 5 247
Entities of PZU S.A. Group excluding of Bank Pekao S.A. Group entities 4 884 2 532 5 464 235 161 2 185 1 620
Subsidiaries of Bank Pekao S.A Group entities
Krajowy Integrator Płatności S.A. 11 36 624 34
Key management personnel of the Bank Pekao S.A. 1 065 8 566
Total 5 957 6 523 9 864 465 402 2 185 6 901

Related party transactions as at 31 December 2021

NAME OF ENTITY RECEIVABLES FROM LOANS AND PLACEMENTS SECURITIES RECEIVABLES FROM REVALUATION OF DERIVATIVES OTHER RECEIVABLES LIABILITIES FROM LOANS AND DEPOSITS LIABILITIES FROM REVALUATION OF DERIVATIVES OTHER LIABILITIES
PZU S.A. – the Bank‘s parent entity 11 838 4 061 4 770 151 803 1 976
Entities of PZU S.A. Group excluding of Bank Pekao S.A. Group entities 618 209 9 455 181 649 802 996
Subsidiaries of Bank Pekao S.A Group entities
Krajowy Integrator Płatności S.A 7 50 743
Key management personnel of the Bank Pekao S.A. 654 2 508
Total 13 110 4 270 14 232 386 703 802 2 972

Income and expenses from transactions with related parties for the period from 1 January 2022 to 31 December 2022

NAME OF ENTITY INTEREST INCOME INTERES EXPENSE FEE AND COMMISSION INCOME FEE AND COMMISSION EXPENSE POSITIVE VALUATION OF DERIVATIVES AND OTHER INCOME NEGATIVE VALUATION OF DERIVATIVES AND OTHER EXPENSES
PZU S.A. – the Bank ‘s parent entity -1 820 -9 485 45 878 -371 216 -3 953
Entities of PZU S.A. Group excluding of Bank Pekao S.A. Group entities 300 -12 499 53 244 -341 1 065 -51 134
Subsidiaries of Bank Pekao S.A Group entities
Krajowy Integrator Płatności S.A. -46 337
Key management personnel of the Bank Pekao S.A. 46 -128
Total -1 474 -22 158 99 459 -712 1 281 -55 087

Income and expenses from transactions with related parties for the period from 1 January 2021 to 30 December 2021

NAME OF ENTITY INTEREST INCOME INTERES EXPENSE FEE AND COMMISSION INCOME FEE AND COMMISSION EXPENSE POSITIVE VALUATION OF DERIVATIVES AND OTHER INCOME NEGATIVE VALUATION OF DERIVATIVES AND OTHER EXPENSES
PZU S.A. – the Bank ‘s parent entity -1 796 -96 51 258 -668 2 858 -659
Entities of PZU S.A. Group excluding of Bank Pekao S.A. Group entities 39 -99 53 096 -260 2 455 -23 441
Subsidiaries of Bank Pekao S.A Group entities
Krajowy Integrator Płatności S.A. 175
Key management personnel of the Bank Pekao S.A. 39 -1
Total -1 718 -196 104 529 -928 5 313 -24 100

Off-balance sheet financial liabilities and guarantees as at 30 December 2022

NAME OF ENTITY GRANTED RECEIVED
FINANCIAL GUARANTEES FINANCIAL GUARANTEE
PZU S.A. – the Bank‘s parent entity 3 028 15 000
Entities of PZU S.A. Group excluding of Bank Pekao S.A. Group entities 9 566 10 046
Subsidiaries of Bank Pekao S.A Group entities
Key management personnel of the Bank Pekao S.A. 1 500
Kluczowy personel kierowniczy Banku Pekao S.A. 1 382
Total 13 976 26 546

Off-balance sheet financial liabilities and guarantees as at 31 December 2021

GRANTED RECEIVED
NAME OF ENTITY FINANCIAL GUARANTEES FINANCIAL GUARANTEE
PZU S.A. – the Bank‘s parent entity 2 735 107 148 -528 931
Entities of PZU S.A. Group excluding of Bank Pekao S.A. Group entities 7 056 102 241  –
Key management personnel of the Bank Pekao S.A. 156  –
Total 9 947 209 389 -528 931
Transactions with the State Treasury

The Bank’s transactions with the State Treasury were mostly related to treasury securities and banking services. These transactions are concluded and settled on terms obtainable by customers who are not related parties.

Remuneration expenses of the Bank’s Management Board and Supervisory Board Members
VALUE OF BENEFITS
2022 2021
Management Board of the Bank
Short-term employee benefits (*) 13 628 12 430
Post-employment benefits 645
Long-term benefits (**) 974 980
Share-based payments (***) 3 914 4 936
Total 18 516 18 991
Supervisory Board of the Bank
Short-term employee benefits (*) 1 492 1 274
Total 1 492 1 274
(*) Short-term employee benefits include: base salary, bonuses and other benefits due in next 12 months from the date of the balance sheet.
(**) The item ‘Other long-term benefit’ includes: provisions for deferred bonus payments.
(***) The value of share-based payments is a part of Personnel Expenses, recognized according to IFRS 2 during the reporting period in the income statement, representing the settlement of fair value of shares, including phantom shares, granted to the Members of the Bank’s Management Board

The Bank’s Management Board and Supervisory Board Members did not receive any remuneration from subsidiaries and associates in 2022 and 2021.

Remuneration expenses of Supervisory Boards and Management Boards of subsidiaries
VALUE OF BENEFITS
2022 2021
Subsidiaries’ Management Boards
Short-term employee benefits 16 339 12 672
Post-employment benefits 1 818 1 587
Long-term benefits 648 660
Paid termination benefits 156 241
Total 18 961 15 160
Subsidiaries’ Supervisory Boards
Short-term employee benefits 1 049 813
Total 1 049 813

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