CONSOLIDATED INCOME STATEMENT

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PKO Annual
Report Online
2020

INCOME STATEMENT Note 2020 2019
restated
Net interest income/(expense) 14 10 346 10 290
Interest income 11 801 12 637
of which calculated under the effective interest rate method 10 415 11 327
Interest expenses (1 455) (2 347)
Net fee and commission income 15 3 904 3 731
Fee and commission income 4 953 4 814
Fee and commission expense (1 049) (1 083)
Other net income 197 522
Dividend income 16 15 14
Gains/(losses) on financial transactions 17 (102) 175
of which due to impact of macroeconomic variables on the loan portfolio (48)
Foreign exchange gains/ (losses) 18 182 104
Gains/(losses) on derecognition of financial instruments 19 181 145
of which measured at amortized cost (22) (13)
Net other operating income and expense 20 (79) 84
Result on business activities 14 447 14 543
Net expected credit losses 21 (2 174) (1 148)
of which due to impact of macroeconomic variables on the loan portfolio (1 175)
Net impairment allowances on non-financial assets 22 (395) (113)
Cost of the legal risk of mortgage loans in convertible currencies 23 (6 552) (451)
Administrative expenses 24 (5 983) (6 021)
of which net regulatory charges (778) (537)
Tax on certain financial institutions 25 (1 055) (1 022)
Share in profits and losses of associates and joint ventures 37 16 31
Profit / (loss) before tax (1 696) 5 819
Income tax expense 26 (865) (1 787)
Net Profit / (loss) (including non-controlling shareholders) (2 561) 4 032
Profit (loss) attributable to non-controlling shareholders 4 1
Net Profit / (loss) attributable to equity holders of the parent company (2 557) 4 031
Earnings per share
– basic earnings per share for the period (PLN) (2,05) 3,22
– diluted earnings per share for the period (PLN)* (2,05) 3,22
Weighted average number of ordinary shares during the period (in million)* 1 250 1 250
* In the years 2020 and 2019, there were no dilutive instruments. Therefore, the amount of diluted earnings per share is the same as the amount of basic earnings per share.

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