38. Structure and the scope of activities of the PKO Bank Polski SA Group

Annual Report
2019

The PKO Bank Polski SA Group consists of the following subsidiaries:

No.	ENTITY NAME DIRECT SUBSIDIARIES	REGISTERED OFFICE	BUSINESS ACTIVITIES	% SHARE IN CAPITAL
No.	ENTITY NAME DIRECT SUBSIDIARIES	REGISTERED OFFICE	BUSINESS ACTIVITIES	31.12.2019	31.12.2018
1	PKO Bank Hipoteczny SA	Gdynia	Banking activities	100	100
2	PKO Towarzystwo Funduszy Inwestycyjnych SA	Warsaw	Investment fund managemen	100	100
3	PKO Leasing SA	Łódź	Leasing and lending	100	100
4	PKO BP BANKOWY PTE SA	Warsaw	Pension fund management	100	100
5	PKO BP Finat sp. z o.o.	Warsaw	Provision of services, including transfer agent services	100	100
6	PKO Życie Towarzystwo Ubezpieczeń SA	Warsaw	Life insurance	100	100
7	PKO Towarzystwo Ubezpieczeń SA	Warszawa	Other personal and property insurance	100	100
8	PKO Finance AB	Stockholm, Sweden	Financial services	100	100
9	KREDOBANK SA	Lviv, Ukraine	Banking activities	100	100
10	ZenCard sp. z o.o.	Warsaw	IT support for trade and services	100	100
11	Merkury – fizan*	Warsaw	investing money collected from fund participants	100	100
12	NEPTUN – fizan*	Warsaw		100	100
13	PKO VC – fizan*	Warsaw		100	100
	Qualia Development sp. z o.o.**	Warsaw	Property development	–	100
	Operator Chmury Krajowej sp. z o.o.***	Warsaw	cloud computing services	–	100

*PKO Bank Polski SA has investment certificates of the Fund; the share in the Fund’s investment certificates is presented in the item “% share in equity”.
**On 28 June 2019 Qualia-Development sp. z o.o., as the target company, was combined with and PKO Leasing SA as the acquiring company.
***From 5 September 2019, the company is classified as a joint venture.

No	ENTITY NAME	REGISTERED OFFICE	BUSINESS ACTIVITIES	% SHARE IN CAPITAL*
No	INDIRECT SUBSIDIARIES	REGISTERED OFFICE	BUSINESS ACTIVITIES	31.12.2019	31.12.2018
	GRUPA PKO Leasing SA
1	PKO Leasing Nieruchomości sp. z o.o.	Warsaw	Leasing	100	100
2	PKO Agencja Ubezpieczeniowa sp. z o.o.	Warsaw	intermediation in concluding insurance contracts	100	100
	2.1 PKO Leasing Finanse sp. z o.o.	Warsaw	sale of post-lease items	100	100
3	PKO Leasing Sverige AB	Stockholm, Sweden	Leasing	100	100
4	PKO Faktoring SA	Warsaw	Factoring activities	100	100
5	Prime Car Management SA**	Gdańsk	leasing and fleet management	100	–
	5.1 Futura Leasing SA	Gdańsk	leasing and selling post-lease items	100	–
	5.2 Masterlease sp. z o.o.	Gdańsk	Leasing	100	–
	5.3 MasterRent24 sp. z o.o.	Gdańsk	short-term car rent	100	–
6	ROOF Poland Leasing 2014 DAC**	Dublin, Ireland	SPV created for securitization of lease receivables	–	–
7	Polish Lease Prime 1 DAC***	Dublin, Ireland	SPV created for securitization of lease receivables	–	–
	GRUPA PKO Życie Towarzystwo Ubezpieczeń SA
8	Ubezpieczeniowe Usługi Finansowe sp. z o.o.	Warsaw	Services	100	100
	GRUPA KREDOBANK SA
9	Finansowa Kompania „Idea Kapitał” sp. z o.o.	Lviv, Ukraine	Service	100	100
	Merkury – fiz an
10	„Zarząd Majątkiem Górczewska” sp. z o.o.	Warsaw	Property management	100	100
11	Molina sp. z o.o.	Warsaw	general partner in the fund’s companies	100	100
12	Molina spółka z ograniczoną odpowiedzialnością 1 S.K.A.	Warsaw	buying and selling real estate on own account, property management	100	100
13	Molina spółka z ograniczoną odpowiedzialnością 2 S.K.A.	Warsaw		100	100
14	“Molina spółka z ograniczoną odpowiedzialnością 3 S.K.A. w likwidacji	Warsaw		100	100
15	Molina spółka z ograniczoną odpowiedzialnością 4 S.K.A.	Warsaw		100	100
16	Molina spółka z ograniczoną odpowiedzialnością 5 S.K.A.	Warsaw		100	100
17	Molina spółka z ograniczoną odpowiedzialnością 6 S.K.A.	Warsaw		100	100
	NEPTUN – fizan
18	Qualia sp. z o.o.****	Warsaw	post-sale services in respect of developer products	100	–
19	Sarnia Dolina sp. z o.o.*****	Warsaw	Property development	100	–
20	Bankowe Towarzystwo Kapitałowe SA	Warsaw	Services	100	100
	20.1 „Inter-Risk Ukraina” spółka z dodatkową odpowiedzialnością******	Lviv, Ukraine	Debt collection	99.90	99.90
	20.2 Finansowa Kompania „Prywatne Inwestycje” sp. z o.o.*******	Lviv, Ukraine	Financial services	95.4676	95.4676
21	„CENTRUM HAFFNERA” sp. z o.o.	Sopot	managing a subsidiary	72.9766	72.9766
	21.1 „Sopot Zdrój” sp. z o.o.	Sopot	Property management	100	100

* Share in equity of the direct parent
**A subsidiary of PKO Leasing SA since 27 May 2019.
*** In accordance with IFRS 10, PKO Leasing SA exercises control over the company, although it does not have a capital share in it.
**** A subsidiary of PKO Leasing SA since 26 September 2019; in accordance with IFRS 10, PKO Leasing SA exercises control over the company, although it does not have a capital share in it.
*****On 31 January 2019, a merger took place between Qualia sp. z o.o. as the acquiring company and Qualia – Residence sp. z o.o. and the target company. Until 7 May 2019, Qualia sp. z o.o. was a subsidiary of Qualia Development sp. z o.o.
****** Until 18 June 2019, a subsidiary of Qualia Development sp. z o.o.
******* Finansowa Kompania “Prywatne Inwestycje” Sp. z o.o. is the second shareholder of the company.
********“Inter-Risk Ukraina” – a company with additional liability – remains the second shareholder of the company.

38. Structure and the scope of activities of the PKO Bank Polski SA Group

37. Equity and shareholding structure of the Bank

38. Structure and the scope of activities of the PKO Bank Polski SA Group

39. Investments in associates and joint ventures

38. Structure and the scope of activities of the PKO Bank Polski SA Group

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