2015.06.25 Current Report No. 42/2015 - Resolution of the PKO Bank Polski S.A. Annual General Meeting on profit appropriation for 2014 and no dividend payment.

Legal basis:

§ 38.1.11 of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information published by issuers of securities and the conditions for concerning information required by the law of a non-member state as equivalent and Art. 56 section 1 point 1 of the Act of 29 July 2005 on the Public Offering, the Conditions Governing the Introduction of Financial Instruments to Organised Trading, and on Public Companies in connection with Article 154 of the Act on Trading in Financial Instruments of 29 July 2005

The report:

The Management Board of PKO Bank Polski S.A. ("Bank") hereby announces that on 25 June 2015, the Bank's Annual General Meeting decided to appropriate the Bank's profit for financial year 2014 and unappropriated profit of previous years, allocating it (in line with Bank's Management Board recommendation) for the reserve capital, other reserves and unappropriated part of the profit in an amount of PLN 1 250 000k, without any amount for the dividend payment.

Polish Financial Supervision Authority ("PFSA") recommended to withhold the entire net profit earned by the Bank for the period from 1 January 2014 till 31 December 2014 - until the supervision authority determines the additional capital requirement for the Bank ("Recommendation").

The resolution of the Bank's Annual General Meeting on the distribution of the profit for 2014, is comprehensive with the Recommendation of the PFSA.

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