Operating costs

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In 2014, the operating costs were kept under control and amounted to PLN 3,425.5 million. They were lower than the operating costs in 2013 by PLN 12.7 million, i.e. 0.4% despite new prudential charge of Banking Guarantee Fund introduced in the fourth quarter of 2013.

Excluding Banking Guarantee Fund charge and supervisory fees (Polish Financial Supervision Authority - KNF), the operating costs were lower by PLN 44.2 million, i.e. 1.3% in comparison with 2013.

(in PLN million)



2013 (excluding PJSC UniCredit Bank)


Change (excluding PJSC UniCredit Bank)

Personnel expenses





Other administrative expenses (excl. BGF and KNF)





Depreciation and amortization





Operating costs (excl. BGF and KNF)










Operating costs





In 2014, cost / income ratio amounted to 46.6% in comparison with 45.9% in 2013 mainly due to higher charge of Banking Guarantee Fund and supervisory fees (KNF).

As at the end of December 2014, the Group employed 18,765 employees (in the Bank and the companies consolidated under full consolidation method) as compared to 18,916 employees as at the end of 2013.

As at the end of December 2014, the Bank employed 16,914 employees as compared to 17,092 employees as at the end of 2013.

The level of employment in the Bank and the Group as at the end of 2014 was influenced by take over of Spółdzielcza Kasa Oszczędnościowo Kredytowa named Mikołaj Kopernik in Ornontowice by Bank Pekao S.A. following decision of The Polish Financial Supervision Authority on December 5, 2014.