PKO
Bank
Hipoteczny
Spółka
Akcyjna
z
siedzibą
w
Warszawie
przy
ul.
Puławskiej
15,
02-515
Warszawa,
zarejestrowana
w
Sądzie
Rejonowym
dla
miasta
stołecznego
Warszawy
w
Warszawie,
XIII
Wydział
Gospodarczy
Krajowego
Rejestru
Sądowego
pod
nr
KRS
0000528469; NIP: 204-000-45-48; REGON: 222181030; kapitał zakładowy (kapitał wpłacony) 1 611 300 000 PLN
PKO
Bank
Hipoteczny
Spółka
Akcyjna
with
the
registered
office
in
Warsaw,
ul.
Puławska
15,
02-515
Warsaw,
registered
in
the
Capital
City
of
Warsaw
District
Court
in
Warsaw,
13th
Commercial
Division
of
the
National
Court
Register
under
KRS
number
0000528469;
Tax Identification Number (NIP): 204-000-45-48; REGON: 222181030; share capital (paid up): PLN 1,611,300,000
Ladies and Gentlemen,
On
behalf
of
myself
and
the
entire
Management
Board
of
PKO
Bank
Hipoteczny
S.A.,
I
would
like
to
present
the annual report containing the financial results for 2022.
I
am
pleased
to
confirm
that
the
Bank’s
position
is
stable
and
the
quality
of
its
assets
remains
very
high.
Both
capital
and
liquidity
ratios
are
at
safe
levels,
significantly
above
the
regulatory
requirements.
With
a low
cost
of
risk
(0.03%
as
at
31
December
2022)
and
a
high
level
of
security
of
mortgage
covered
bonds
issued,
we
are
trusted
by
investors.
The
safety
of
our
mortgage
covered
bonds
is
confirmed
by
the
Aa1
rating
granted
by
Moody’s
Investors
Service
Ltd.
This
is
the
highest
possible
rating
for
Polish
mortgage
covered bond programmes.
As
at
31
December
2022
the
Bank’s
total
assets
amounted
to
PLN
20.7
billion,
of
which
nearly
90
percent
comprised
the
highest
quality
residential
loan
portfolio.
In
turn,
the
total
value
of
the
Bank’s
outstanding
mortgage
covered
bonds
was
PLN
12.1
billion
at
the
end
of
December,
giving
the
Bank
the
leading
position
on the Polish market (57.3 percent of all mortgage covered bonds on the market).
In
2022,
PKO
Bank
Hipoteczny
S.A.
issued
series
8
green
mortgage
covered
bonds
in
EUR
with
a
nominal
value
of
EUR
500
million.
This
was
the
first
such
issue
in
the
CEE
region.
It
makes
us
a
part
of
a
global
trend
and confirms the importance of sustainable development in the Bank’s operations.
The
year
2022
brought
many
challenges.
As
a
bank,
we
had
to
continuously
adapt
to
dynamic
market
conditions and the changing regulatory environment.
We
closed
the
first
six
months
of
the
year
with
a
net
profit
of
PLN
50.8
million.
At
the
same
time,
due
to
the
entry
into
force
of
a
law
supporting
borrowers,
i.e.
the
so-called
“loan
repayment
holidays”,
we
adjusted
the
gross
carrying
amount
of
mortgage
loans
by
PLN
667.8
million
by
reducing
interest
income,
as
a
result
of
which
we
recognized
a
loss
for
the
year.
The
loss
incurred
is
a
result
of
events
which
are
beyond
the
Bank’s control and does not affect our growth opportunities.
In
2022,
we
continued
our
close
cooperation
with
the
PKO
Bank
Polski
Group.
We
implemented
solutions
supporting
our
customers,
which
focused,
for
example,
on
the
development
of
remote
processes.
The
Bank
provided
borrowers
with
a
new
functionality
allowing
them
to
complete
a
mortgage
loan
application
through
iPKO
and
offered
the
possibility
of
placing
selected
orders
as
part
of
the
post-sales
support
through
the platform.
In
2022,
the
“loan
repayment
holidays”
had
the
biggest
impact
on
the
sector.
In
2023,
the
WIBOR
benchmark
reform
and
demanding
macroeconomic
conditions
will
pose
an
additional
challenge.
Regardless
of
external
factors,
we
are
well
prepared
to
meet
the
objectives
of
the
new
strategy
for
the
years
2023–
2025 and our sources of financing are stable and diversified.
I
wish
to
thank
the
employees
of
PKO
Bank
Hipoteczny
for
their
involvement
and
professionalism,
the
representatives
of
PKO
Bank
Polski
for
their
helpful
cooperation,
and
the
investors
for
their
trust.
I
invite
you
to
read
the
annual
report.
I
hope
that
it
will
be
a
source
of
valuable
information
on
our
Bank’s
operations.
Yours faithfully
Katarzyna Kurkowska-Szczechowicz