Statement of Financial Position and Financial Results

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Consolidated income statement containing cumulated items for the period from 1 January to 31 December, 2014 and 2013 respectively was presented in the Consolidated Financial Statements of Bank Pekao S.A. Group for the period ended on 31 December 2014.

In relation to changes in accounting policy in 2013 (for description refer to the Note 5 to the Consolidated Financial Statement of Bank Pekao S.A. Group for the period ended on December 31, 2014) data for 2013 in the Consolidated Financial Statements of Bank Pekao S.A. Group for the period ended on 31 December 2014 as well as in the Report on activities of Bank Pekao S.A. Group for the year 2014 have been presented after appropriate restatements.

The Report on activities of Bank Pekao S.A. Group for the year 2014 includes statement of financial position in a short form and income statement in a presentation form as well as the key, selected items from these statements were discussed.

Since 2013, to align the presentation to the standards implemented by the major Polish and European banks, in the income statement gains on disposal of available for sale financial assets and held to maturity investments are reported under trading result and thus in operating income, operating profit and respective ratios.

Following decision of The Polish Financial Supervision Authority on December 5, 2014 Bank Pekao S.A. took over Spółdzielcza Kasa Oszczędnościowo Kredytowa named Mikołaj Kopernik in Ornontowice. Due to the above, data of Bank Pekao S.A. Group for 2014 presented in this chapter include data of Spółdzielcza Kasa Oszczędnościowo Kredytowa. The detailed information concerning above mentioned take over is presented in the Note 2 of the Consolidated Financial Statements of Bank Pekao S.A. Group for the period ended on 31 December 2014.