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Poland's largest bank, majority state-owned, providing retail and corporate banking, mortgages, and asset management.
Poland's largest bank, majority state-owned, providing retail and corporate banking, mortgages, and asset management.
Earns mostly from the gap between zloty loan and deposit rates, with fees from cards, payments and asset management. It descends from the state savings bank founded in 1919, and the Polish state has remained its largest shareholder since the 2004 listing.
In one line: A Polish Bank of America.
Moat: narrow (scale, distribution, brand). Largest branch and ATM network in Poland with state backing gives it deposit-gathering scale.
Headquarters: Warsaw, Poland · Founded: 1919 · Employees: 26,000
Size PKO Bank Polski (PKO.WA) is a Poland Financials company (Major Banks) with a market value of $36.5B, the 2nd largest of 83 Poland companies the cockpit tracks. Shares closed at PLN 114.60 on 6 Nov 2026.
Performance Over six months the shares gained 18.4%, against +2.6% for the median peer and +14.3% for the Poland market (cap-weighted) — 7th highest of 21 in its peer set.
Growth Revenue fell 2.2% over the last twelve months (peer median +6.4%); the operating margin is 54.9% (peer median 38.1%).
Valuation It trades at 2.56× book value against a peer median of 1.48× (2nd most expensive of 21).
Price implies The share price implies a return on equity of about 31.9%; PKO Bank Polski delivers 20.1%, so the price asks more than the business earns today.
Credit PKO Bank Polski has 8 bonds outstanding ($4.96B), rated Baa1 by the agencies.
Next results Next results expected around 5 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | PLN 41.2B | PLN 41.9B | PLN 40.6B | PLN 38.9B | PLN 27.2B |
| Revenue growth | — | +3% | +4% | +43% | — |
| Net income | PLN 10.8B | PLN 10.7B | PLN 9.30B | PLN 5.50B | PLN 3.31B |
| Free cash flow | PLN 6.99B | PLN 7.29B | PLN 7.32B | PLN 14.2B | PLN 3.62B |
| Capital expenditure | PLN 1.52B | PLN 1.35B | PLN 1.25B | PLN 1.77B | PLN 1.04B |
| Total debt | PLN 46.8B | PLN 41.5B | PLN 32.5B | PLN 25.7B | PLN 24.5B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| PKO Bank Polski PKO.WA | $36.5B | +18% | -2% | 20% | 2.56× | 31.9% |
| Bank Polska Kasa Opieki PEO.WA | $17.4B | +12% | -5% | 18% | 2.04× | 25.7% |
| mBank MBK.WA | $17.7B | +37% | -1% | 19% | 3.05× | 37.6% |
| ING Bank Slaski ING.WA | $15.7B | +20% | +4% | 24% | 3.24× | 33.8% |
| Bank Millennium MIL.WA | $7.04B | +26% | -2% | 16% | 2.80× | 38.0% |
| Alior Bank ALR.WA | $4.59B | +15% | -7% | 16% | 1.42× | 20.0% |
| Bank Handlowy w Warszawie BHW.WA | $4.09B | +7% | -22% | 17% | 1.72× | 17.1% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | PKO.WA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -0.3% | +1.0% | 8th lowest of 21 |
| 6-month return | +18.4% | +2.6% | 7th highest of 21 |
| Return on equity | 20.1% | 12.3% | 2nd highest of 21 |
| Price / book | 2.56× | 1.48× | 2nd most expensive of 21 |
| Trailing P/E | 13.2× | 12.3× | 7th most expensive of 21 |
| ROE the price implies | 31.9% | 9.8% | most demanding of 21 |
| ROE delivered | 20.1% | 12.4% | 2nd highest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| PKO Bank Polski PKO.WA | Poland | $36.5B | +18% | -2% | 20% | 2.56× | 31.9% | 20.1% |
| Ping An Bank 000001.SZ | China | $34.4B | +3% | -9% | 9% | 0.48× | 3.6% | 9.0% |
| Svenska Handelsbanken SHB-A.ST | Sweden | $32.6B | +23% | -14% | 12% | 1.68× | 9.0% | 12.2% |
| Danske Bank A/S DANSKE.CO | Denmark | $42.4B | +11% | +8% | 14% | 1.68× | 6.1% | 14.1% |
| Huntington Bancshares HBAN | United States | $31.2B | -3% | +24% | 9% | 1.06× | 10.2% | 9.1% |
| Skandinaviska Enskilda Banken SEB-A.ST | Sweden | $42.9B | +20% | -8% | 14% | 1.80× | 9.5% | 13.5% |
| Axis Bank AXISBANK.NS | India | $43.6B | +2% | +7% | 14% | 1.78× | 25.1% | 13.9% |
| BPER Banca BPE.MI | Italy | $30.4B | +2% | +15% | 15% | 1.49× | 18.6% | 14.9% |
| ShinhanGroup 055550.KS | South Korea | $29.2B | -13% | +32% | 9% | 0.78× | 5.2% | n/a |
| Swedbank SWED-A.ST | Sweden | $46.0B | +25% | -5% | 14% | 2.09× | 13.2% | 14.3% |
| United Overseas Bank U11.SI | Singapore | $47.6B | 0% | -10% | 10% | 1.23× | 9.2% | 9.8% |
| Credicorp BAP | United States | $27.6B | +5% | +24% | 21% | 2.47× | 17.9% | 20.6% |
| Banco Bradesco SA Sponsored ADR Pfd BBD | United States | $27.5B | -32% | +29% | 14% | 0.71× | 6.2% | 14.2% |
| Sumitomo Mitsui Trust Gp 8309.T | Japan | $27.4B | +38% | +5% | 11% | 1.18× | 7.5% | 10.9% |
| DNB Bank DNB.OL | Norway | $50.0B | +16% | -8% | 15% | 1.76× | 11.2% | 15.1% |
| China Everbright Bank 6818.HK | Hong Kong | $26.6B | -10% | -3% | 5% | 0.28× | 3.9% | 5.5% |
| Citizens Financial CFG | United States | $26.5B | -1% | +4% | 9% | 1.16× | 11.5% | 8.9% |
| Kotak Mahindra Bank KOTAKBANK.NS | India | $50.5B | +27% | +12% | 12% | 2.45× | 29.5% | 11.8% |
| Societe Generale GLE.PA | France | $52.0B | -5% | +9% | 9% | 0.78× | 10.0% | 9.5% |
| E Sun Financial 2884.TW | Taiwan | $25.2B | +55% | +36% | 15% | 2.70× | 7.6% | 14.7% |
| Regions Financial RF | United States | $24.1B | +2% | +1% | 12% | 1.46× | 13.2% | 12.4% |
PKO Bank Polski has 8 bonds outstanding with $4.96B face value. The agencies rate it Baa1.