43. Non – controlling interests

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43. Non – controlling interests

Significant accounting policies

Non – controlling interests are defined as the equity in a subsidiary not attributable, directly or indirectly, to the Bank.

Financial data

The below table presents the information for each of the subsidiaries that have non-controlling interests that are material to the Group.

NAME OF THE SUBSIDIARY	COUNTRY OF INCORPORATION AND PLACE OF BUSINESS	PERCENTAGE SHARE OF NON-CONTROLLING INTERESTS IN SHARE CAPITAL / VOTING RIGHTS		NET PROFIT FOR THE PERIOD ATTRIBUTABLE TO NON-CONTROLLING INTERESTS		ACCUMULATED NON-CONTROLLING INTERESTS
NAME OF THE SUBSIDIARY	COUNTRY OF INCORPORATION AND PLACE OF BUSINESS	31.12.2023	31.12.2022	2023	2022	31.12.2023	31.12.2022
Pekao Financial Services Sp. z o.o.	Poland	33.5	33.5	2	2	12	12
Total				2	2	12	12

The summarized financial information of each of the subsidiaries that are material to the Group are presented below

	PEKAO FINANCIAL SERVICES SP. Z O.O.
	31.12.2023	31.12.2022
Cash and cash equivalents	15	15
Intangible assets	14	13
Property, plant and equipment	17	17
Other items of assets	11	10
TOTAL ASSETS	57	55
Amounts due to customers	5	6
Other liabilities	14	12
Other items of liabilities	1	1
TOTAL LIABILITIES	20	19

	PEKAO FINANCIAL SERVICES SP. Z O.O.
	2023	2022
Revenue	77	70
Net profit for the period	7	6
Other comprehensive income	–	–
Total comprehensive income	7	6
Dividends paid to non-controlling interests	2	2
Cash flows from operating activities	15	14
Cash flows from investing activities	(7)	(8)
Cash flows from financing activities	(8)	(7)
Net change in cash and cash equivalents	–	(1)
Cash and cash equivalents at the beginning of the period	14	15
Cash and cash equivalents at the end of the period	14	14

44. Additional information to the consolidated cash flow statement