Results of the Bank's major related entities
Pioneer Pekao Investment Management S.A. – PPIM
In 2014, consolidated net profit of PPIM amounted to PLN 105.7 million compared with PLN 98.6 million in 2013. The Bank's share in the company's profit was PLN 51.8 million.
Pekao Leasing Sp. z o.o. – Pekao Leasing
In 2014, Pekao Leasing reported a net profit of PLN 54.6 million (the Bank's share to PLN 49.7 million) compared with PLN 40.6 million in 2013. Pekao Leasing result for 2014 on top of positive commercial income includes positive impact of VAT settlements.
Centralny Dom Maklerski Pekao S.A. – CDM
In 2014, net profit of CDM amounted to PLN 42.4 million compared with PLN 39.3 million profit earned in 2013.
Pekao Pioneer PTE S.A. – PTE
In 2014, PTE reported net profit of PLN 15.4 million (the Bank's share equaled to PLN 10.0 million) compared with net profit of PLN 13.8 million in 2013. The higher profit was achieved as a result of the Guarantee Fund settlement in the first half of 2014, conducted after transfer of assets from Open Pensions Funds (OFE) to The Social Insurance Institution (ZUS) as a consequence of pension funds reform.
Pekao Bank Hipoteczny S.A. – Pekao Bank Hipoteczny
In 2014, Pekao Bank Hipoteczny reported a net profit of PLN 10.0 million compared with PLN 12.7 million in 2013.
Pekao Faktoring Sp. z o.o. – Pekao Faktoring
In 2014, Pekao Faktoring reported a net profit of PLN 8.2 million compared with PLN 10.1 million in 2013.
Dom Inwestycyjny Xelion Sp. z o.o. – Xelion
In 2014, Xelion reported a net profit of PLN 2.9 million (the Bank's share equaled to PLN 1.45 million) and it was higher than the profit earned in 2013 in the amount of PLN 2.1 million.