Notes to the consolidated financial statements
Download note2. Composition of the Group
As at 31 December 2016 the Capital Group included the Bank and the following subsidiaries consolidated using the full method:
| Entity | Registered office | Core business | Percentage interest in the Bank’s share capital | |
|---|---|---|---|---|
| 31 December 2016 | 31 December 2015 | |||
| Centrum Operacyjne Sp. z o.o. | Bydgoszcz | Operations supporting financial services | 100% | 100% |
| Spółka Dystrybucyjna Banku Pocztowego Sp. z o.o. | Warsaw | Financial intermediation | 100% | 100% |
As at 31 December 2016 and 31 December 2015, the share in the total number of votes held by the Bank in the General Shareholders' Meetings of subsidiaries was equal to the interest in their capitals. Moreover, the Bank has the right to designate a majority of members of the Supervisory Board in each company and therefore it is authorized to take key decision, such as appointing all Management Board Members in each company.
Centrum Operacyjne Spółka z ograniczoną odpowiedzialnością (“Centrum Operacyjne”) was established by the Bank on 20 May 2010 and commenced its operations on 28 May 2010. The registered office of the entity is located in Bydgoszcz.
Centrum Operacyjne was established in order to provide process administration services for products and services of entities from the financial sector. In line with the Polish Classification of Business Activity (PKD 2007) the core business of the entity was classified as Other auxiliary activity related to financial services, excluding insurance and pension funds (6619Z).
In 2016 Centrum Operacyjne Sp. z o.o. provided services to the Bank, Spółka Dystrybucyjna Banku Pocztowego Sp. z o.o. and Pocztowe Towarzystwo Ubezpieczeń Wzajemnych, entities from the Poczta Polska Capital Group.
As at 31 December 2016 and 31 December 2015 the share capital of Centrum Operacyjne amounted to PLN 3,284 thousand (including a contribution of PLN 784 thousand).
Spółka Dystrybucyjna Banku Pocztowego Spółka z ograniczoną odpowiedzialnością (“Spółka Dystrybucyjna”) was established by the Bank on 20 May 2010 and commenced its operations on 28 May 2010. Its registered office is located in Warsaw.
Spółka Dystrybucyjna was established in order to organize operations and operate within mobile sales structures for financial products and services, in particular those related to the cooperation with the Bank. In line with the Polish Classification of Business Activity (PKD 2007) the core business of Spółka Dystrybucyjna is Other forms of loan granting (6492Z).
In 2016 Spółka Dystrybucyjna cooperated mainly with the Bank, distributing its products.
As at 31 December 2016 and 31 December 2015 the share capital of the Spółka Dystrybucyjna amounted to PLN 2 680 thousand (including a contribution of PLN 680 thousand).