Management of Impacts, Risks, and Opportunities

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Management of Impacts, Risks, and Opportunities

Business Conduct Policies and Corporate Culture [G1-1]

A key element of our operations is the development of a stable organisational culture. In 2021, we defined four core values: #prosto (straightforward), #razem (together), #odważnie (boldly), and #odpowiedzialnie (responsibly), which set the standards for employee conduct and foster engagement around shared objectives. We actively promote behaviours aligned with these values, thereby creating an increasingly positive and secure work environment. Our ESG Strategy serves as the primary governance framework for corporate governance, facilitating the integration of social responsibility principles and ethical standards. Our commitment is reflected in the policies and procedures we implement.

The effective promotion of our corporate culture is reinforced through daily practices and regular training, covering key areas such as:

Corporate governance,
Ethical standards and the Pekao Group Code of Conduct,
Whistleblowing procedures,

Anti-corruption measures,
Compliance.

These mandatory training sessions are an integral part of the onboarding process for new employees, ensuring that from their very first day, they are aligned with the values and principles of Pekao Group.

The Management Board of Bank Pekao and the management boards of other Pekao Group entities conduct an annual review and assessment of compliance with ethical standards, as outlined in the Pekao Group Code of Conduct (hereinafter: the “Code of Conduct”). This Code serves as a fundamental set of principles and norms that support the creation of a transparent and responsible organisation, including:

Conducting business in compliance with legal regulations, internal policies, supervisory recommendations, and widely accepted market standards;

Striving for continuous improvement in work quality and standards;

Building long-term relationships with customers based on mutual trust and transparent cooperation principles;

Understanding the risk culture, including risk limits applicable to specific activities, as defined by the Bank and other Pekao Group entities.

Every employee of the Group is required to familiarise themselves with the Code of Conduct as part of their mandatory training, which is available via the e-learning platform, and must confirm their acknowledgment in writing or through the Bank’s IT system. In 2024, a total of 1,151 employees completed the Code of Conduct training.

The Code of Conduct is published on the intranet, on the page dedicated to the Compliance Department, under the Compliance Culture tab. It is also available to the public on the Bank’s website, in the About the Bank / Corporate Governance section.

The Management Board of the Bank has also adopted the Banking Ethics Code of the Polish Bank Association (hereinafter: the “Banking Ethics Code”) at the request of the Compliance Department. The principles outlined in this document apply to banks, employees, and entities or individuals acting on behalf of banks. The Banking Ethics Code serves as a guiding framework for ethical banking practices, adherence to best market practices, and the reinforcement of trust and reputation within the banking sector. The Code of Banking Ethics (Principles of Good Banking Practice) consists of following sections:

General Principles
Relationships with clients
Relations with employees

Relations between banks and relations with other financial institutions and business partners
Responsible banking
Innovation and new technologies

The Code was developed by the Banking Ethics Committee of the Polish Bank Association (ZBP), of which, as Bank Pekao, we are a member and in whose work we participated. The document is available on the website of the ZBP and the Bank.

As an active participant in the Polish banking system, we have representatives who take an active role in the work of the Banking Ethics Committee at the Polish Bank Association.

EU Taxonomy

Whistleblowing Mechanisms and Whistleblower Protection

Management of Impacts, Risks, and Opportunities

Business Conduct Policies and Corporate Culture [G1-1]

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