76. Subsequent events

On 23 April 2021, the Extraordinary General Meeting of PKO Bank Polski S.A. decided to enter into settlement agreements with consumers who have entered into mortgage loan agreements with the Bank indexed to foreign currencies or denominated in foreign currencies (hereinafter: settlement agreements with consumers). According to the adopted resolution:

• PKO Bank Polski S.A. creates a special fund in the amount of PLN 6.7 billion for the purpose of covering specific balance sheet losses that will arise as a result of recognizing the financial effects of the settlement agreements with consumers;
• the amount of PLN 6.7 billion shall be allocated from the Bank’s supplementary capital, in the part created from retained earnings available for distribution and transferred to the aforementioned special fund;
• the General Meeting shall oblige the Bank’s Management Board to present for approval to the Bank’s Supervisory Board the terms and conditions on which the settlement agreements shall be concluded, including the terms and conditions of releasing from debt;
• The Bank’s Management Board may enter into settlement agreements with consumers (including the terms and conditions of releasing from debt) after the Bank’s Supervisory Board has issued a positive opinion on the terms and conditions under which the agreements will be concluded, including in respect of releasing from debt. The content of individual settlement agreements should be within the terms and conditions approved by the Bank’s Supervisory Board.

Signatures of all Members of the Bank’s Management Board

Signature of the person responsible for maintaining the books of account

Danuta Szymańska
Director of the Accounting Division