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  2. Financial results
  3. Notes to the consolidated financial statements
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Notes to the consolidated financial statements

45. Events after the end of the reporting period

On 5 January 2017 the Bank concluded a stand-by credit agreement with Spółdzielcza Kasa Oszczędnościowo-Kredytowa for the amount up to PLN 36,000 thousand. A commission is due to the Bank in relation to the origination of this credit.  The stand-by credit is secured with an interest-bearing cash deposit of PLN 40,000 thousand and can be used for any purpose, provided that it is used and paid up within one business day.  Conclusion of the agreement does not affect the consolidated financial statements of the Group for the year ended 31 December 2016.

Until the date hereof, no events that would significantly affect the economic and financial standing of the Group as at 31 December 2016 or for the year ended 31 December 2016 occurred.

44. Employment structure
46. The Group’s risk management objectives and policy