Notes to the consolidated financial statements
43. Related parties
The Group’s related parties are:
- Parent: Poczta Polska S.A.;
- entity exercising significant influence on the Bank: PKO Bank Polski S.A.;
- other entities from the Poczta Polska Capital Group;
- other subsidiaries of PKO Bank Polski S.A.;
- key management personnel: members of the Management and Supervisory Board, directors of the Bank;
- key management personnel of the Bank’s Parent.
In accordance with IAS 24, the Group treats the subsidiaries of the State Treasury of the Republic of Poland as its related parties, since the State Treasury controls the Bank through its majority shareholder. For the purposes of consolidated financial statements, subsidiaries of the State Treasury are companies wholly-owned by the State Treasury, state-owned enterprises and entities with the State Treasury as the majority shareholder, whose list is published on the website of the Ministry of State Treasury, as well as local government entities.
In 2014, non-standard, significant related-party transactions whose nature and terms were not related to ongoing business operations were not concluded. All transactions were concluded on the arm’s length basis.
Presented below is the nature of significant agreements with related parties:
- agreements concerning financial intermediation services provided on behalf of and for the Bank in respect of a wide array of products and services of the Bank, including, in particular, the Agency Agreement concluded with Poczta Polska S.A. on 2 September 2011;
- agreements related to financial intermediation services provided by the Bank on behalf of and for a related party – Poczta Polska S.A. (including a bank account agreement with additional products);
- a package of agreements regarding financial services peformed by the Bank, in particular with regard to cash processing (agreement with Poczta Polska S.A. on cash services for the Bank’s own sales outlets);
- a lease agreement setting out the terms and conditions of leasing/sub-leasing space or premises to be used as the Bank’s branches as part of the sales outlet infrastructure of Poczta Polska S.A.;
- an agreement on the lease of hardware, use of an operating system and databases.
Balance as at 31 December 2014 |
Parent | Entity exercising significant influence on the Group and its |
Key management personnel |
Other entities in the Poczta Polska S.A. Capital Group |
---|---|---|---|---|
PLN’000 | PLN’000 | PLN’000 | PLN’000 | |
Receivables | 57,611 | 12 | 11,304 | 294 |
Nostro accounts | 0 | 12 | 0 | 0 |
Originated loans | 0 | 0 | 11,304 | 0 |
Other receivables | 57,611 | 0 | 0 | 294 |
Liabilities | 764,578 | 0 | 2,808 | 68,838 |
Deposits received* | 646,738 | 0 | 2,808 | 60,441 |
Liabilities due to sold securities (repo and sell-buyback transactions) |
0 | 0 | 0 | 5,312 |
Other liabilities | 117,840 | 0 | 0 | 3,085 |
Off-balance sheet transactions | 48,800 | 941 | 155 | 277 |
Off-balance sheet contingent liabilities |
48,800 | 941 | 155 | 277 |
- originated | 48,800 | 0 | 155 | 277 |
- received | 0 | 941 | 0 | 0 |
Period from 1 January 2014 to 31 December 2014 |
Parent | Entity exercising significant influence on the Group and its |
Key management personnel |
Other entities in the Poczta Polska S.A. Capital Group |
---|---|---|---|---|
PLN’000 | PLN’000 | PLN’000 | PLN’000 | |
Revenue | 16,648 | 157 | 522 | 30,767 |
- interest | 0 | 0 | 504 | 4 |
- fees | 16,607 | 157 | 16 | 30,589 |
- other revenue | 41 | 0 | 2 | 174 |
Expenses | (61,565) | (2,645) | (18,532) | (945) |
- interest | (9,570) | 0 | (78) | (737) |
- fees | (35,463) | (1,102) | (32) | 0 |
- non-personnel expenses | (16,532) | (1,543) | 0 | (208) |
- personnel expenses | 0 | 0 | (18,422) | 0 |
Balance as at 31 December 2013 |
Parent | Entity exercising significant influence on the Group and its |
Key management personnel |
Other entities in the Poczta Polska S.A. Capital Group |
---|---|---|---|---|
PLN’000 | PLN’000 | PLN’000 | PLN’000 | |
Receivables | 43,251 | 41 | 12,970 | 364 |
Nostro accounts | 0 | 41 | 0 | 0 |
Originated loans | 0 | 0 | 12,970 | 341 |
Other receivables | 43,251 | 0 | 0 | 23 |
Liabilities | 1,008,516 | 16 | 2,806 | 58,556 |
Deposits received* | 900,085 | 16 | 2,806 | 49,929 |
Liabilities due to sold securities (repo and sell-buyback transactions) |
0 | 0 | 0 | 8,182 |
Other liabilities | 108,431 | 0 | 0 | 445 |
Off-balance sheet transactions | 73,753 | 2,374 | 409 | 205 |
Off-balance sheet contingent liabilities |
73,753 | 2,374 | 409 | 205 |
- originated | 73,753 | 0 | 409 | 205 |
- received | 0 | 2,374 | 0 | 0 |
Period from 1 January 2013 to 31 December 2013 |
Parent | Entity exercising significant influence on the Group and its |
Key management personnel |
Other entities in the Poczta Polska S.A. Capital Group |
---|---|---|---|---|
PLN’000 | PLN’000 | PLN’000 | PLN’000 | |
Revenue | 22,785 | 347 | 635 | 28,803 |
- interest | 0 | 0 | 603 | 48 |
- fees | 22,360 | 347 | 31 | 28,721 |
- other revenue | 425 | 0 | 1 | 34 |
Expenses | (64,310) | (2,219) | (20,510) | (1,759) |
- interest | (17,138) | 0 | (115) | (968) |
- fees | (28,700) | (609) | (50) | 0 |
- non-personnel expenses | (18,472) | (1,610) | 0 | (770) |
- personnel expenses | 0 | 0 | (20,345) | (21) |
Balance as at 31 December 2014 |
Balance as at 31 December 2013 |
|||
---|---|---|---|---|
Companies with interest of the State Treasury |
Government agencies and local authorities |
Companies with interest of the State Treasury |
Government agencies and local authorities |
|
PLN’000 | PLN’000 | PLN’000 | PLN’000 | |
Receivables | 131,775 | 303,395 | 40,885 | 356,680 |
Receivables from other banks | 131,775 | 0 | 20,179 | 0 |
Loans and advances granted to | 0 | 303,395 | 0 | 356,673 |
Investments in financial assets | 0 | 0 | 20,706 | 0 |
Other receivables | 0 | 0 | 0 | 7 |
Liabilities | 22,132 | 57,826 | 36,649 | 98,747 |
Deposits received | 22,132 | 57,825 | 36,649 | 98,746 |
Other liabilities | 0 | 1 | 0 | 1 |
Period from 1 January 2014 to 31 December 2014 |
Period from 1 January 2013 to 31 December 2013 |
|||
---|---|---|---|---|
Companies with interest of the State Treasury |
Government agencies and local authorities |
Companies with interest of the State Treasury |
Government agencies and local authorities |
|
PLN’000 | PLN’000 | PLN’000 | PLN’000 | |
Revenue | 2,753 | 11,243 | 1,620 | 15,736 |
- interest | 2,655 | 11,018 | 1,525 | 15,350 |
- fees | 98 | 215 | 95 | 382 |
- other revenue | 0 | 10 | 0 | 4 |
Expenses | (591) | (2,030) | (786) | (3,890) |
- interest | (279) | (1,965) | (343) | (3,848) |
- fees | 0 | (57) | (1) | (39) |
- non-personnel expenses | (312) | 0 | (442) | 0 |
- other expenses | 0 | (8) | 0 | (3) |
Transactions with subsidiaries of the State Treasury other than those from the Poczta Polska S.A. Capital Group and PKO Bank Polski S.A. Capital Group are related to banking operations (funding, deposits).
Loans and advances provided to members of the Management and Supervisory Board of the Bank and the Bank's Parent
Balance as at 31 December 2014 |
Members of the Management Board of the Bank |
Supervisory Board of the Bank | Members of the Management Board of the Bank’s Parent |
---|---|---|---|
PLN’000 | PLN’000 | PLN’000 | |
Receivables | 392 | 0 | 167 |
Originated loans | 392 | 0 | 167 |
Liabilities | 56 | 50 | 44 |
Deposits received | 56 | 50 | 44 |
Balance as at 31 December 2014 |
Members of the Management Board of the Bank |
Supervisory Board of the Bank | Members of the Management Board of the Bank’s Parent |
---|---|---|---|
PLN’000 | PLN’000 | PLN’000 | |
Revenue | 14 | 0 | 9 |
- interest | 14 | 0 | 9 |
Expenses | (3) | 0 | (7) |
- interest | (1) | 0 | 0 |
- fees | (2) | 0 | (7) |
Balance as at 31 December 2013 |
Members of the Management Board of the Bank |
Supervisory Board of the Bank | Members of the Management Board of the Bank’s Parent |
---|---|---|---|
PLN’000 | PLN’000 | PLN’000 | |
Receivables | 0 | 0 | 91 |
Originated loans | 0 | 0 | 91 |
Liabilities | 1 | 50 | 1 |
Deposits received | 1 | 50 | 1 |
Period from 1 January 2013 to 31 December 2013 |
Members of the Management Board of the Bank |
Supervisory Board of the Bank | Members of the Management Board of the Bank’s Parent |
---|---|---|---|
PLN’000 | PLN’000 | PLN’000 | |
Revenue | 0 | 0 | 10 |
- interest | 0 | 0 | 8 |
- fees | 0 | 0 | 2 |
Expenses | (2) | 0 | (9) |
- interest | (2) | 0 | (1) |
- fees | 0 | 0 | (8) |
Remuneration paid or due to the Management and Supervisory Boards of the Bank and its subsidiaries
Period from 1 January 2014 to 31 December 2014 |
Period from 1 January 2013 to 31 December 2013 |
|
---|---|---|
PLN’000 | PLN’000 | |
Management Board | 3,065 | 2,650 |
Short-term employee benefits (payroll, bonuses and payroll charges) |
2,818 | 2,556 |
Termination benefits | 247 | 94 |
Supervisory Board | 2,193 | 2,138 |
Short-term employee benefits (payroll, bonuses and payroll charges) |
2,193 | 2,138 |
Total | 5,258 | 4,788 |
Period from 1 January 2014 to 31 December 2014 |
Period from 1 January 2013 to 31 December 2013 |
|
---|---|---|
PLN’000 | PLN’000 | |
Short-term employee benefits (payroll, bonuses and payroll charges) |
13,047 | 15,487 |
Termination benefits | 117 | 70 |
Total | 13,164 | 15,557 |
Annual Report 2014 - Bank Pocztowy
Corporate Governance
- Corporate governance: principles and scope of application
- Control system in the process of preparing financial statements
- Entity authorized to audit financial statements
- Shareholding structure and share capital
- Key information regarding Poczta Polska S.A.
- Cooperation with Poczta Polska S.A.
- Investor relations
- By-laws amending principles
- Activities of the corporate bodies of the Bank