* Unique user actively using electronic banking is a user who logged in to the system and the mobile service m.pekao24.pl. at least once during the last quarter. (in case of using different mobile channels. the client is counted only once).
Bank in 2022
Bank Pekao S.A. on the Polish banking market
Bank Pekao S.A. is a universal commercial bank offering all financial services available in Poland for individual and institutional clients. A wide range of products, innovative solutions and individual approach ensure comprehensive financial support for clients and an integrated customer service model is a guarantee of the highest quality of services and optimal adjustment to changing customer needs. Since 2017, Bank Pekao S.A. is part of the PZU S.A. capital group, the largest financial institution in Central and Eastern Europe.
A wide product offer, innovative solutions and individual approach provide comprehensive financial service to clients and the integrated customer service model provides the highest quality of services and their optimal adaptation to changing needs. The Bank has measurable advantages that allow it to compete effectively on the market and strengthen its market position in the strategic areas of the Bank’s operations. The Bank offers competitive products and services on the Polish market, and high level of customer service and a well-developed distribution network.
Distribution channels
The Bank offers to its clients a broad distribution network with ATMs and outlets conveniently located throughout Poland as well as a professional call center and a competitive online and mobile banking platform for individual, corporate and micro companies.
| 31.12.2021 | 31.12.2022 | |
|---|---|---|
| Total number of outlets | 650 | 597 |
| own outlets | 563 | 515 |
| partner branches | 87 | 82 |
| Total number of own ATMs | 1,475 | 1,328 |
The number of accounts
At the end of December 2022, the Bank maintained 7,455.2 thousand PLN denominated current accounts, 371.9 thousand mortgage loan accounts and 582.5 thousand “Pożyczka Ekspresowa” (Express Loan) accounts.
| (in thousand) | 31.12.2021 | 31.12.2022 |
| Total number of PLN current accounts (*) | 7,455.2 | 6,923.9 |
| of which packages | 5,330.5 | 4,933.8 |
| Number of mortgage loans accounts (**) | 371.9 | 405.0 |
| of which PLN mortgage loans accounts | 347.0 | 378.4 |
| Number of Pożyczka Ekspresowa loan accounts (***) | 582.5 | 626.8 |
* Number of accounts including accounts of prepaid cards.
** Retail customers accounts.
*** Pożyczka Ekspresowa. Pożyczka Ekspresowa Biznes.
** Retail customers accounts.
*** Pożyczka Ekspresowa. Pożyczka Ekspresowa Biznes.
Retail banking and private banking
In 2022, the number of active mobile banking customers increased by 359 thousand – up to 2.76 million – and was 15% higher than a year ago and 35% higher than two years ago. The number of active mobile customers using the PeoPay application increased by 402 thousand – to 2.44 million – and was 20% higher than a year ago and 45% higher than two years ago.
Active mobile banking customers account for 82% of customers using electronic channels, which is an increase compared to the previous year by 4 p.p. and 6 p.p. compared to the 2020.
** Unique user PeoPay application. who logged in to the system PeoPay at least once during the last quarter.
In 2022, electronic banking was actively used by 218 thousand companies. The number of active corporate mobile banking customers increased by 7.7 thousand – up to 87 thousand y/y.
PeoPay is one of the best-rated financial applications available in Google Play and AppStore.
In 2022, we introduced many new solutions and possibilities in electronic banking Pekao24, PeoPay and PeoPay Kids, including:
- opening an account using the mObywatel application for individuals and enterpreneures in the selfie process,
- remote service of credit cards – customers can change and assign a PIN to the card, temporarily restrict its use or block the card completely, and order a new one, change the additional card limit for the Żubr Credit Card, check the debit card details online,
- submitting new applications for social and assistance benefits (300+, 500+, RKO), including applications for Ukrainian citizens,
- making payments for parking lots in paid parking zones, purchase of a public transport ticket,
- as part of Open Banking, we have expanded the service (the so-called AIS) of access to information on payment accounts maintained by other banks, such as: balance and transaction history. Access to accounts from other banks makes it easier to apply for a loan, overdraft or credit card, allows you to track account balances and order transfers from accounts in other banks. The electronic journal records the most important activities performed within the Pekao24 and PeoPay systems related to Open Banking services. Launching the service requires the customer’s consent, available on the Pekao24 website or the PeoPay application and then confirmed in the bank’s online banking system (service consents are granted indefinitely).
- possibility of partial repayment of a housing loan and suspension of principal and interest installments of a housing loan, including the so-called „credit holidays”,
- new notifications regarding standing orders, BLIK, statuses of orders and official applications as well as notifications about receipts,
- making it possible to purchase State Treasury Bonds,
- making it possible to purchase motor insurance,
- providing a number of new instructions/certificates for micro-enterprises and individual clients; for example, certificates about the limit in the account (total repayment and closing the limit and the amount of current debt), closing the savings account, reporting information about the death of the client and others,
- implementation of functionalities facilitating the customer’s budget management: suggested payments, the ability to renew a transfer directly from the history of operations, presentation of the status of payments at risk, Direct Debit and Pekao Orders predictions,
- access to the PeoPay application for clients of the Brokerage House – clients who have the Pekao24Makler service and do not have an account at the Bank can already use PeoPay,
- implementation of the PeoPay demo, which presents the capabilities of the Bank’s mobile application, the demo is used in sales processes as part of presenting the Bank’s mobile offer,
- the BLIK service for the youngest customers in the PeoPay Kids application, and new options adapted to children: implementation of gaming skins in the PeoPay Kids application and gaming card images; providing a version of PeoPay for teenagers.
Number of clients and accounts
2022 was a record year in terms of acquired accounts. We opened over 554,000 new accounts (Konto Przekorzystne and Konto Świat Premium) – recording an increase of +25% compared to 2021. The increase in sales of accounts for new customers is the result of i.a. an increase in the acquisition of selfie accounts, activities aimed at attracting young customers up to 26 years of age and setting up accounts for Ukrainian citizens.
In 2022, we doubled the sales of selfie accounts compared to 2021, already 35% of adult accounts are created in the selfie process.
Thanks to the implemented activities and attractive offer, we have a leading position on the market in terms of the increase in net accounts.
The high sales were driven by an attractive offer and promotions targeted at new and existing customers. We offered our clients a Savings Account with an 8% interest rate for the first 6 months, as well as attractive bonuses for setting up a selfie account up to PLN 200. We introduced a recommendation program, thanks to which we achieved an increase of +40% y/y in the number of customers enrolled in the program and opened accounts on recommendation in the PeoPay application and Pekao24 online banking.
In the affluent customer segment, we increased sales of new Świat Premium Accounts by almost 250% compared to 2021. We also acquired over 11 thousand new customers. The offer of Konto Świat Premium is available to customers who invest at least PLN 200 thousand of assets on any savings or investment products from the Bank’s offer.
We participated in the educational fairs “Salon Maturzystów” organized in 14 largest academic cities, we continued cooperation with the Parliament of Students of the Republic of Poland. For students going abroad, e.g. on a scholarship, we have prepared a special Traveler’s Package, which allows you to issue an ISIC student card with insurance free of charge. Thanks to the actions taken, over 40% of new accounts acquired in 2022 were opened for customers up to 26 years of age (an increase of +39% compared to 2021).
In 2022, we have prepared a special offer for Ukrainian citizens, we have simplified the account opening procedure, we have abolished the fees for account maintenance, handling cards and ATM withdrawals, and for transfers from Poland to banks in Ukraine and from Ukraine to Poland, both for transactions made by individual customers and and corporate. In 2022, we set up over 96,000 accounts for citizens of Ukraine.
We ran promotions as part of the Mastercard “Bezcenne Chwile” loyalty program, thanks to which customers gained additional bonus points that they could exchange for prizes.
In 2022, we acquired 33.9 thousand new customer accounts in the business segment, which is an increase of +5% compared to 2021.
In 2022, the number of supported cards exceeded 5 million cards for the first time, and the number of non-cash payments was nearly 24% higher than in the previous year. The market share in credit card sales increased from 6% in January 2022 to 14% in December 2022. Customers are increasingly willing to conclude a credit card agreement in Pekao24 internet banking and PeoPay mobile banking – in December 2022, 50% of cards sold were in the remote channel.
In 2022, we introduced the “Credit Card with Żubr” to our offer. It is the first credit card in Poland in the subscription model, available in three packages to choose from. At the moment of issuing the card, the customer selects the appropriate package: standard, gold or platinum. The card is free in the standard package. The package can be changed and adapted to your needs free of charge without having to replace the plastic card. The biggest advantages of the card include: the option of spreading the repayment into convenient 0% installments, a refund for purchases on the Internet and for payments on motorways, insurance of purchases and online transactions, travel insurance, access to free airport lounges and an exceptionally long interest-free period. The new card is made of 99% recycled material.
In 2022, we introduced a new, android type of terminal to our offer – MiniPOS, along with the service of delivering transaction confirmations and reports to the merchant electronically (e-Confirmation). The service also allows you to optionally send transaction confirmations to the cardholder by e-mail or txt message.
As the first on the market, we also introduced an android programmable pinpad to our offer. Business customers can order a terminal via Pekao24. At the end of 2022, we already supported several thousand android terminals.
In payment terminals, we have also added the multimerchant service, which allows several entities to execute cash transactions on one terminal.
In 2022, we implemented a new CRM (Omnibank CRM) customer relationship management system, which, thanks to advanced analytics and cloud solutions, will improve communication with customers so that they receive the most relevant and personalized offers and information.
In 2022, we increased the growth of sales of key retail loans, taking a cautious approach and adapting the lending policy to the dynamically changing macroeconomic situation, taking into account the risk of inflation and interest rates.
The value of cash loans granted, measured by the net volume, amounted to PLN 4.45 billion in 2022 and was at a comparable level until 2021.
We launched new remote omnichannel processes, supporting the sale of cash loans, overdraft loans and credit cards, and we actively promoted the possibility of receiving loans on the Pekao24 website, in the Pekao mobile application. We also transferred post-sales processes to electronic channels.
Remote sale of cash loans in 2022 reached a record result of PLN 2.87 billion, increasing by +56% compared to 2021. In the fourth quarter of 2022, as much as 82% of loans were granted in remote processes. It was possible thanks to increasing the availability of „on-click” offers for customers and the introduction of new solutions, such as new remote omnichannel processes supporting the sale of loans by Pekao Direct consultants.
We have introduced loans with a fixed interest rate to our offer, which ensures stability of the loan installment and financial security of the household budget.
As the only company in Poland, we have launched a loan for medical studies with a repayment guarantee by BGK in cooperation with the Ministry of Health and Bank Gospodarstwa Krajowego. The loan offer is available to current students and candidates starting medical studies at Polish universities. We acquired over 1.7 thousand applications and disbursed PLN 52 million as part of the disbursement of the first tranches of such loans.
In 2022, we provided individual customers with the option of financing installment purchases of goods and services in online stores, with a loan period of up to 60 months and a loan amount of up to PLN 20,000. zloty. The entire loan granting process takes a few minutes and is 100% remote. We use open banking services and video verification to confirm identity. Installment loans are supported in online stores by Tpay.
In the area of loans in the account, we recorded a +36% increase in the number of newly concluded contracts compared to 2021.
In 2022, the sale of housing loans amounted to PLN 3.46 billion.
We adapted and updated the mortgage loan offer on an ongoing basis to the changing conditions and market needs. We have extended the offer, e.g. a housing mortgage loan and a construction and mortgage loan with a BGK guarantee, allowing customers to finance up to 100% of the value of the property, we extended the loan period to 35 years, the possibility of loans with interest based on a periodic, 5-year fixed interest rate, and a new attractive insurance offer for life.
In 2022, we consistently developed remote after-sales processes, we made new e-instructions available, thanks to which customers can submit most of the instructions to change credit accounts remotely.
In 2022, we transferred part of the mortgage loan receivables to Pekao Bank Hipoteczny. The total number of loans transferred so far is over 8.5 thousand worth PLN 1.6 billion.
Business clients loans
New sales of financing for business customers totaled nearly PLN 2 billion with a dynamics of +38% y/y. The dynamic growth of new sales of bank loans in the business segment by +34% y/y to the level of PLN 0.8 billion was supported by the implementation of a full risk assessment path, which allows for a quick calculation of the available limit and quick disbursement of a loan or revolving limit. Significant increase in sales of leasing products and microfactoring services in the business segment by a total of +40% y/y to PLN 1.2 billion.
Development in the area of insurance products
In 2022, we consistently developed bancassurance offers and cooperation within the PZU Group. We have extended the offer with new insurance tailored to the expectations of customers. In 2022, we introduced the following insurance products:
- „Świat Inwestycji Premium II” – voluntary life insurance with insurance capital funds,
- „Pewny Profit” – individual life and endowment insurance,
- insurance package for the new Żubr Credit Card, which provides protection or return of goods paid for with the card,
- life insurance for a mortgage loan – which can be purchased for both a new and current loan. Since the beginning of the sale, in just 2 months, nearly 1 thousand units have been sold. policy,
- motor insurance – available to customers in the omnichannel process, offered both in PZU and Link4.
The share of cash loans sold with insurance reached the average annual level of 38.7% (+2.3 p.p. compared to 2021), which is the highest level since the implementation of this product with PZU. The share of mortgage loans sold with insurance remains at a stable, high level of 93.6%.
In 2022, in-cooperation with PZU in the field of assurbanking developed using several distribution channels – including over 200 PZU own branches throughout Poland and the new PZU Cash company. During the year, we implemented a new, dedicated offer for PZU clients. As part of the cooperation, the number of clients acquired by PZU in 2022 was +20% higher than in 2021.
Deposit, brokering activity and sale of investment products
At the end of December 2022, the total value of deposits and certificates of deposit held by individual and business customers amounted to PLN 131 billion, an increase of PLN +1.6 billion (+1.2%) compared to the end of December 2021 and +6.2 PLN billion (+5.0%) compared to September 2022.
In 2022, cyclical promotions on savings accounts with an interest rate of up to 8% valid for 6 months enjoyed great interest among new customers. Customers have set up a total of over 80,000. savings accounts. Customers with free funds also willingly set up deposits with an interest rate of up to 8% for 1 year.
Customers actively using services via remote channels could open dedicated mobile deposits (“Lokata PeoPay” and “Lokata z Żubrem”) with an interest rate of up to 7% for 12 months, available for opening in the PeoPay application.
For customers interested in additional diversification of their savings, we offered deposits combined with Pekao TFI investment funds, the interest rate of which reached the level of 8%, available for 6 or 12 months.
At the beginning of the fourth quarter of 2022, we introduced State Treasury Bonds to our offer for retail clients. In 2022, sales realized only through remote channels (P24, PeoPay) exceeded PLN 600 million. At the beginning of 2023, Treasury Bonds also began to be offered in the Bank’s outlets.
In 2022, the Bank introduced the following investment products to its offer for individual and private customers:
- Bank Securities in the form of Certificates of Deposit Mocny Złoty EURPLN 6,7,8,9,10 and 11, Accumulator Plus EURPLN and USDPLN 2 and 3,
- PZU FIZ Legato series D and series I investment certificates,
- Structured products with full capital protection in PLN: Certificate with Capital Protection Linked to Nestlé S.A. Shares. issued by Goldman, Sachs & Co. Wertpapier GmbH and Worst Of Capital Protection Certificate Linked to L’Oreal S.A. Shares and The Procter & Gamble issued by Goldman, Sachs & Co. Wertpapier GmbH,
- Structured Products with Full Capital Protection in USD: Two-Year Worst Of Capital Protection Certificate Linked to Novartis AG and Roche Holding AG Shares in USD issued by Goldman, Sachs & Co. and a Two-Year Worst Of Capital Protection Certificate Linked to Unilever PLC and Johnson & Johnson Shares in USD issued by Goldman Sachs & Co. Wertpapier GmbH,
- HVB PLN structured product with capital guarantee based on a basket of shares of AMD Inc., BMW AG and Tesla Inc.,
- Structured products with conditional capital protection in USD: HVB USD Express Plus Certificate based on Intel Corp shares,
- Structured product with full capital protection in EUR: Two-year Worst Of Capital Protection Certificate Linked to Unilever PLC and Johnson & Johnson EUR Shares issued by Goldman, Sachs & Co. Wertpapier GmbH,
- Structured certificates with conditional capital protection in PLN: HVB PLN Barrier Reverse Convertible Protect based on shares of Allegro.eu S.A. and HVB PLN Express Plus Certificate based on the STOXX® Europe 600 Utilities (Price) Index (EUR), HVB PLN Express Plus Certificate based on shares of Schlumberger N.V. and HVB PLN Express Plus Certificate based on BASF SE shares,
- „Diversified Investment” 3-year Certificate in PLN linked to the EURO STOXX 50® Index (Price EUR) and the Pekao Obligacji Plus Fund,
- Bonus certificate on Allegro.eu S.A.,
- Annual Reverse Convertible Certificate Linked to Shares of PKO Bank Polski S.A., Shell PLC, and Unilever PLC,
- Annual Worst Of Capital Protection Certificate Linked to BP Plc and Chevron Corporation, Novartis AG and Roche Holding AG Shares.
We offer preferential pricing terms to clients who purchase investment products via remote channels. Over 50% of investment funds are sold via remote channels
Enterprise banking
Enterprise Banking consists of two segments: Small and Medium Enterprises (SME) and Medium Enterprises (MID) segments. In 2022 we focused on the automation and digitization of the credit process and the development of electronic banking functionalities enabling customer self-service.
Lending activities and customer financing
We offer our clients a wide, comprehensive range of products and services. such as bank loans, leasing, factoring, arranging issues of debt securities and other specialized forms of financing. In 2022, we maintained a record-high dynamics of the loan portfolio +16% y/y – an increase in value by PLN 4.8 billion. The growth dynamics in the segments amounted to:
- small and medium-sized enterprises: +23% y/y, PLN +1.7 billion,
- medium-sized corporations: +14% y/y, PLN +3.1 billion.
There was a dynamic increase in value both in loans and in leasing and factoring.
In the fourth quarter of 2022 the value of loans sold in SMEs exceeded the threshold of PLN 1.8 billion (without renewals), growing by +28% y/y. In the fourth quarter of 2022, in the segment of medium-sized corporations, we achieved the value of loans sold at the level of PLN 4.9 billion with a growth rate of +42% y/y. In total, since the beginning of 2022, we have granted PLN 22.2 billion of new loans (without renewals) to the customers of the Corporate Banking Division, with the dynamics of +37% y/y.
In 2022, we implemented a new mobile application for business PeoBIZ with a new interface and a wide range of functionalities, including:
- secure login using Touch ID / Face ID,
- quick check of the state of finances and account turnover,
- extended functionality of domestic transfers: transfers to the phone, Express Elixir,
- transfer to the phone – the ability to send a payment in the mobile application to the phone number of a natural person (e.g. contractor, customer, company employee).
The application is very popular – at the end of 2022, it was already used by almost 5,000. users with 24/7 access to over 9,000 finances companies.
We provided our customers with new functionalities in electronic banking, such as:
- changing or supplementing payment instructions for foreign exchange transfers,
- granting or modifying authorizations to the PekaoTrade service,
- presentation of data of the customer service team, with the current list of direct contacts to individual employees of the Bank.
- faster preview of transactions carried out with Bank Pekao cards.
In 2022, we promoted remote after-sales service, which resulted in a significant increase in the number of instructions ordered by customers, we processed 92.6 thousand customers’ disposal, i.e. an increase of 33%.
In 2022, in the area of transactional banking, we recorded an increase in the value of domestic transfers by 21% to PLN 658 billion and foreign transfers by 33% to PLN 122.5 billion.
The total value of domestic transfers made by all the Bank’s clients using PekaoBiznes24 increased in 2022 compared to 2021 by 33%, reaching PLN 2.49 billion, while the value of foreign transfers in the same period increased by 52%, reaching PLN 432 billion.
In 2022 we acquired 3.9 thousend SME and MID clients, maintaining the high level of acquisition from the previous year. Particularly noteworthy is the increase in the acquisition of SME clients with a turnover of over 5 million (+17% y/y). At the end of 2022, we handled over 57 thousand customers.
In the third quarter of 2022, we published the Report on the Situation of Micro, Small and Medium Enterprises for the years 2021-2022 for the 11th time. Almost 7 thousand entrepreneurs shared with us data and indicators, and above all – experiences. The report discussed key topics for the SME sector – economic growth, the prospects for growth in consumption and investment, the situation on the labor market, wages and inflation. In-depth interviews, consisting of open-ended questions, allowed us to better understand the situation of the SME sector in Poland.
Corporate and investment banking
The Corporate Banking includes corporate segments, significant capital groups (the so-called large corporations), public sector clients, financial institutions as well as commercial real estate and specialized financing. The Pekao Group is a leader in these segments. It has a competitive advantage resulting from experience, unique staff, specialized knowledge and processes and the potential to co-finance large projects based on a very strong liquidity and capital position. The Bank provides both the comprehensive services of a universal bank and the services in such areas as leasing, factoring, investment advisory services, advisory in M&A as well as highly advanced treasury, capital market products and custody services. A wide range of products and services, innovative solutions, customised approach and the comprehensive financial services for the largest enterprises, institutions and public sector units are appreciated by clients and decide about the strength of corporate banking of Bank Pekao S.A.
is focused on development of modern, digital tools supporting the work of our relationship managers. We pursue this aim by automating their work and providing them with market data, which increases their advisory competences and facilitates establishing long-term business relationships. We are significantly involved in projects related to a responsible approach to running business. We are also developing international banking and we actively support foreign expansion of our clients.
we focus on increasing the level of robotization and automation of both internal processes and the solutions available to clients. We are continuously expanding the scope of self-service operations in digital channels and the number of products available for online purchase.
and we want to be the first choice bank for our clients. Therefore, we try to quickly and accurately recognize their needs. We provide advise based on our knowledge of client’s profile, industry and segment. We try to increase the level of satisfaction of clients with their interaction with the Bank.
we actively support the government and EU programs for economic recovery and climate transformation. We support and finance the energy transformation of our clients and the evolution towards green solutions. An important area of our activity is also the cooperation with public sector entities, where, in addition to green investments, we are involved in financing socially responsible projects.
In addition, we manage our capital in a responsible way by selecting better clients, products and transactions. We rely on sector expertise, flexible and specialized product offer and competences in structured finance. Our capabilities are additionally strengthened by a high level of competence in performing operations on the Polish and foreign financial markets.
Cooperation with financial institutions and custody services
Under the corresponding banking, as at 31 December 2022, the Bank maintained 75 nostro accounts with 45 banks in 26 countries; it ran 215 loro accounts for 195 foreign clients (banks and other financial institutions) from 46 countries and 43 current accounts for 37 foreign financial institutions. The Bank also intermediated in the execution of transactions for clients of other domestic banks, running 35 loro accounts for 12 Polish banks and maintaining 5 nostro accounts with 1 Polish bank.
In 2022, the Pekao Group, as part of the implementation of the strategy for the development of cooperation with small and medium-sized enterprises, together with Pekao Leasing Sp. z o.o., we obtained financing from leading development banks (European Investment Bank, Council of Europe Development Bank, Bank Gospodarstwa Krajowego) and completed the following transactions in this area:
- we signed a loan agreement with the Council of Europe Development Bank for the amount of EUR 200 million. The first tranche of the loan in the amount of EUR 100 million was disbursed in the third quarter of 2022.
- we launched a loan in the amount of EUR 132 million granted by the European Investment Bank,
Under these agreements, Pekao Leasing Sp. z o. o. committed to allocate a minimum of 20% of funds to investments supporting climate protection and sustainable development of the environment, and 20% of the amount of both loans to activities promoting gender equality and the development of women’s entrepreneurship.
In addition, Pekao Leasing Sp. z o.o., Bank Gospodarstwa Krajowego granted a loan of PLN 300 million. It was the fifth loan agreement between a leasing company from the Pekao Group and BGK. The funds from this loan will be used to finance investments of micro and small enterprises in the field of vehicles, production lines, machinery and equipment.Bank Pekao S.A. was the arranger and underwriter in all the above-mentioned transactions.
Transactional banking
After four quarters of 2022 we recorded an increased number and volume of executed transactions:
- the number of Elixir domestic transfers increased by 7% y/y and the number of ExpressElixir instant transfers sent from PekaoBiznes24 rose by 270% y/y. (we maintain about 20% market share for domestic payments),
- we processed more than 1,5 million direct debit transactions (increase by 2%) in the total amount of almost PLN 485 million,
- the number of outgoing foreign transactions rose by 33% and their volume by 29,0%; the number of incoming foreign transactions increased by 33%,
- the volume of transactions processed under Pekao Collect service increased by 17% (we process more than 42 million transactions with a total volume of over PLN 74 billion) – (as compared to the data after four quarters of 2021),
We introduced new functionalities in the PekaoBiznes24 system:
- we made available a new application: „Change or supplementation of payment instructions for transfers in foreign exchange transactions”,
- for cards with a credit limit: real-time access to the information, i.e.: history of operations, card limit, available card limit (excluding the Visa Business Lider card) and the possibility to check blockades of performed transactions,
- possibility to download a duplicate for incoming domestic and foreign transfers.
In addition, the key achievements in the area of transactional banking include:
- extending the range of foreign transfers executed in express mode by other currencies: Canadian dollars (CAD), Turkish lira (TRY), Romanian lei (RON), Bulgarian lev (BGN).
- extending cut-off times for transfers in currencies executed so far in express mode and TARGET-2 – one of the longest cut-off times on the market,
- implementing ExpressElixir SPLIT incoming domestic transfers for the whole Bank and outgoing transfers in the PekaoBiznes24 system,
- starting a pilot program of a new form of handling cash deposits via trezor-type devices. The devices are installed in the Bank’s outlets and enable on-line booking of payments made by clients on the basis of QR codes,
- introducing the application of the NBP deposit rate for the product: Automatic Investment of Funds,
- extending the SWIFTNET FileAct service with the possibility to distribute statements in XML_CAMT format,
- implementing the following solutions as a result of the situation in Ukraine:
- special offer for the Ukrainian companies – simplified procedures, special pricing offer,
- support in Ukrainian language for business clients,
- translation of the Bank’s documents into Ukrainian,
- exemption of all clients from fees for transfers to and from Ukraine.
In 2022, the amount of the newly granted guarantees and sureties increased by 8%. The Bank also recorded a two-digit growth dynamics in the area of documentary products – the amount of new transactions was higher by over 38% in comparison with 2021. The Bank’s exposure resulting from active import letters of credit at the end of 2022 increased by 9% as compared the previous year.
In 2022, the Bank financed more than 62 thousand invoices under the Open Financing Platform (OFP) in total amount of PLN 2.8 billion, which marks an increase of by about PLN 1.5 billion as compared to 2021, while the number of bought out invoices increased by 30%.
Clients became increasingly interested in debt financing programs, and the Supplier Finance programs in particular. About 200 suppliers were added to the programs in 2022, including 100 foreign suppliers, mainly from Turkey, India and Bangladesh. The Supplier Finance programs are also used as tools for active acquisition (cross-selling and up-selling).
In 2022, clients applying for an eFinancing limit (a service consisting in purchase of short-term receivables) had the opportunity to secure the limit with guarantees of Bank Gospodarstwa Krajowego, i.e. the LGF-FGP guarantee (provided under the portfolio factoring guarantee line – Liquidity Guarantee Fund) and the LGF-FGK guarantee (granted under the portfolio factoring guarantee line – the Crisis Guarantee Fund).
In 2022, clients gained access to the new version of the PekaoTrade system which is used to manage L/C transactions and documentary collections. At the same time, a new version of the back office system – IMEX 8, which is used by Pekao’s experts handling documentary transactions – was implemented.
The Bank granted loans and prepared comprehensive offers for short and long-term financing of international transactions and the offers for hedging risk of international transactions, supporting the expansion of Polish enterprises on both European markets and in developing countries. The Bank’s clients can take advantage of the package of the most beneficial financial solutions adjusted to the model of the conducted business activity.
We signed an agreement with the Export Credit Insurance Corporation (KUKE), which enables KUKE to guarantee repayment of up to 80% of the value of loans granted by the Bank to exporters for their investments in Poland. This means that the Bank can significantly increase the scale of financing offered to its clients with unchanged risk exposure indicators, as the collateral is guaranteed by the State Treasury. Entrepreneurs, on the other hand, can – on attractive terms – finance the investment aimed at increasing or creating production capacity for goods intended for export.
We also signed an agreement with KB Kookmin Bank (London branch), the largest bank in South Korea, providing for cooperation in rendering corporate banking services to companies operating in both countries. Pursuant to this agreement, the cooperation may include the activities in the case of corporate finance transactions of Korean companies operating in Poland or Polish companies operating in South Korea, development of transactions in the area of trade finance, including letters of credit and bank guarantees, and the acquisition of new corporate clients. The cooperation of both institutions broadens the possibility of providing appropriate services for Polish-Korean business.
The Bank supports the development of enterprises and infrastructure through long-term financing of investments in various segments of the economy. We offer our clients the services in the field of investment banking, structured finance and financing of commercial real estate projects, including financing of the construction of warehouses.
The key projects financed by the Bank in 2022 include:
- syndicated financing for the construction of photovoltaic farms in the amount of PLN 779 million,
- financing the construction of the largest photovoltaic farm in Poland with a target capacity of 285.6 MW, the amount of financing: PLN 763 million,
- financing the purchase and revitalization of warehouse parks, adaptation to ESG standards, in the amount of PLN 450 million,
- syndicated financing for the construction of over one hundred photovoltaic farms in the amount of PLN 428 million,
- syndicated financing for the acquisition made in Polish fuel industry in the amount of PLN 360 million,
- increasing the amount of reverse factoring up to PLN 550 million for one of the top groups operating in the chemical industry,
- increasing the amount of full factoring up to PLN 330 million for one of the leading groups from the energy sector,
- financing of a subsidiary company in cooperation with EBI in the amount of EUR 132 million,
- a loan for the acquisition of a foreign company from the renewable economy sector. The financing amounted to EUR 131 million. The Bank acted as the MLA,
- financing provided to the leader of the Polish energy industry. The Bank acted as one of the original lenders. The loan amount was PLN 4 billion,
- a loan in the amount of EUR 47 million for the construction of warehouses in central Poland granted under continued cooperation with the largest developer of warehouse space on the Polish market,
- a term loan in the amount of PLN 550 million granted to a leading housing developer in Poland. The Bank acted as the MLA,
- syndicated investment loan financing for a leading producer and distributor of photovoltaic solutions. The loan amount: PLN 330 million,
- a syndicated refinancing loan granted for the portfolio of shopping centers. The loan amount: EUR 146 million,
In 2022, Bank Pekao S.A. participated in issuance of non-treasury debt securities (of corporate entities, banks and municipal units) for the total amount of nearly PLN 27.3 billion, of which the following transactions deserve special attention:
- issue of 7-year Eurobonds for a Polish Development Bank in the amount of EUR 500 million to be used for the development of road infrastructure, in which the Bank acted as a co-arranger,
- the issue of bonds for a company belonging to an international automobile concern for the amount of PLN 400 million, with maturity of 2 years, in which the Bank acted as the sole arranger and dealer,
- the issue of 6-year bonds for a leading company on the Polish market from debt collection industry for the total amount of PLN 350 million, in which the Bank acted as Dealer of the consortium,
- the issue of bonds for a leasing company belonging to an international financial group for the amount of PLN 200 million maturing in April 2024, for which the Bank performed the function of coordinator, arranger and dealer, and the short-term bonds for the amount of PLN 180 million, for which the Bank acted as the sole arranger and dealer,
- the issue of bonds for a company owned by an international developer group for the amount of PLN 135 million maturing in September 2025, in which the Bank acted as the co-arranger and dealer,
- issue of 3-year bonds for a leading Polish residential developer in the amount of PLN 110 million,
- the issue of seven series of bonds denominated in EUR and PLN for a leasing company from the Group for the total amount being the equivalent of about PLN 3.8 billion and the issue of 27 series of bonds denominated in PLN and EUR for a factoring company from the Group for the total amount being the equivalent of about PLN 15.7 billion, in which the Bank acted as the sole arranger and dealer.
The Bank also signed 19 new bond issue agreements of which the following deserve special attention:
- agreement providing for issuance of sustainability linked bonds signed with a company from the multimedia industry for the amount of up to PLN 4 billion,
- agreement providing for issuance of green bonds signed with a company belonging to an international developer group for the amount of EUR 150 million.
Financing the public sector and municipal projects is part of our activities related to co-creation and development of Polish infrastructure, including support for sustainable development of the economy and environmental protection.
In 2022 we continued our activities supporting the development of public sector in Poland. We are committed to maintain our leadership position in this market segment and we are a leading bank in cooperation with and financing of public sector in Poland. We cooperate with 11 out of 12 Polish metropolises (92% market share) and we provide ongoing budget support for five of them. We cooperate with every fourth municipality in Poland (25% market share). We maintain business relationships with 92% of towns with county rights and we provide ongoing services to every fifth of them (21%). We also cooperate with every third county (37%) and with almost all provinces (94%). We are a major bank for state universities – 70 of them use our services.
In the competition announced by the Polish Development Fund, we were selected to provide operational services to the National Reconstruction Plan. The agreement regulating the terms of cooperation was concluded in June 2022.
In cooperation with the Ministry of Finance, we implemented a retail treasury bond distribution project combined with granting working capital in the amount of PLN 200 million. Participation in the retail treasury bond sale project complements the deposit offer, providing the Bank’s customers with even greater opportunities to deposit or invest their savings.
We also supported public sector entities in the implementation of ESG projects, we financed the following green projects: green transport for Gdańsk Buses and Trams – bond issue worth PLN 65 million, and the expansion of sports infrastructure in Zabrze – bond issue for PLN 103 million.
We signed a financing agreement for Przedsiębiorstwo Państwowe „Porty Lotnicze”, increasing the financing to PLN 400 million under the current Bond Issue Programme. In this transaction, we acted as the Bond Issue Program Organizer, Security Agent, Calculation Agent, Issuance Agent, and Payment Agent.