Share quotation

In 2017, as in previous years, the Bank focused on consistently generating attractive business results for investors and on adjusting the business model to the new market environment, in order to ensure a return on capital above the cost of capital, and thus, build shareholder value.

Shares of PKO Bank Polski - price and trading volume from 31/12/2009 to 29/12/2017

Changes in the price of shares of PKO Bank Polski vs WIG20 index from 01/01/2005 to 29/12/2017 (31.12.2004=100%)

In 2017, as in previous years, the Bank focused on consistently generating attractive business results for investors and on adjusting the business model to the new market environment, in order to ensure a return on capital above the cost of capital, and thus, build shareholder value.

As at the end of 2017, PKO Bank Polski SA was the most valuable company on the Warsaw Stock Exchange. The Bank’s capitalisation exceeded PLN 55 billion.

In 2017, the price of shares of PKO Bank Polski SA increased by 57.5%, and as at the end of 2017, it was PLN 44.3, while WIG20 and WIG Banki indices increased by 26.4% and 35.4% respectively.

Such changes in the prices of shares of banks on the Warsaw Stock Exchange, including shares of PKO Bank Polski SA, were due mainly to:

  • regulatory factors – in particular planned regulatory solutions for borrowers, who incurred housing loans in CHF. This is confirmed, for instance, by maintaining the Bank’s rating by Moody’s. In the justification, the agency referred to greater clarity of the legislative proposal in this respect and the lower potential costs of the project. The resulting mitigation of the negative impact of new proposed solutions of the issue of mortgage loans in foreign currencies on the banks’ costs supported the growth in prices of the banks’ shares;
  • market factors – in particular the high economic growth and good perception of the banking sector by the investors. Share prices were also supported by the good financial results of the banks, and interest rate increases expected in subsequent years. The level of the Bank’s result forecasted by analysts also increased during the last year.

Price of share and capitalisation of PKO Bank Polski SA compared to competitove banks

Changes in prices of shares of PKO Bank Polski vs. prices of shares of competitive banks from 01/01/2010 to 29/12/2017 (31/12/2009=100%)

Capitalization (as at the end of the period, PLN billion)