PKO Bank Polski as a Dependable Business Partner
For a long time now, PKO Bank Polski has been consistently involved in endeavours of importance for Poland ’ s economy as a whole. It has supported enterprises in the implementation of strategic investment projects. The bank ’ s staff assist companies in selecting forms of financing and offer flexible terms and conditions tailored to their specific business needs. Corporate clients can also choose from a range of leasing and factoring products and services.
The challenges related to liquidity and working capital management were among the top priorities for enterprises in 2021. The prolonged pandemic, which disrupted supply chains, forced many companies to redefine their needs in the area of financial products. In such situations, businesses can always count on a tried-and-tested partner such as PKO Bank Polski.
“As the largest Polish bank for corporations and businesses, PKO Bank Polski supports major investment projects in the economy. We participate in syndicated projects and provide independent financing for crucial investments, thus contributing to Poland’s new infrastructure and improving the quality of life for citizens. We provide convenient and flexible forms of financing, taking each client’s individual needs on board. Thanks to our experience, knowledge, and ability to listen to clients’ needs, PKO Bank Polski supports Poland’s economic growth every day,” says Iwona Duda, President of the Management Board of PKO Bank Polski.
Over PLN 1 billion for Green Projects in 2021
PKO Bank Polski has consistently pursued a policy of financing renewable energy sources (RES), increasing its commitment to the decarbonisation of Poland’s energy system. In 2021, PKO Bank Polski Group provided financing for energy transformation projects with a total value exceeding PLN 1 billion. Most of the RES initiatives that are currently in progress involve wind farms and photovoltaic farms. The bank expects growing interest in the financing of green projects. At present, given the higher energy prices, falling investment expenditures per MW, and the rising popularity of long-term PPAs (Power Purchase Agreements), the bank has witnessed the growing popularity of mixed financial structures.
For instance, PKO BP is co-financing the construction of the largest photovoltaic farm in Poland and this part of Europe. With an area of 300 ha, the Zwartowo farm is located in Pomerania, in the Wejherowo district, and will be built by German company Goldbeck Solar, in cooperation with Respect Energy, a company from Poland. The financing for the next phase of this investment is PLN 635 million. When finished, the Zwartowo farm will provide green energy to approximately 153,000 households.
In February 2021, PKO BP, acting in a consortium with two other institutions, signed an agreement worth PLN 479 million (EUR 105 million) to finance the RES portfolio owned by Qair, an independent renewable energy producer. The financing will be used for the construction of four wind farm projects and 29 photovoltaic projects with a total capacity of 106 MW. Moreover, in March 2021, PKO Bank Polski participated in a consortium of banks that provided an investment loan of PLN 138 million to PAK PCE Fotowoltaika, owned by the Pątnów-Adamów-Konin Power Plants. The loan was used to finance the construction of a photovoltaic farm with an installed capacity of 70 MWp. The investment, located on reclaimed land formerly used for opencast lignite mining, is among the largest photovoltaic farms in Poland, and also one of the few farms in Poland financed under a long-term PPA.
The bank has also signed an agreement with a VSB Group company to finance the Baranów-Rychtal Wind Park project to install 11 wind turbines with a total capacity of 42.6 MW, scheduled for launch in 2023. The amount of financing provided is PLN 228.6 million. As part of a banking consortium, PKO BP has also signed an agreement with a Polenergia Group company to finance the Grabowo Wind Farm project to install 20 wind turbines with a total capacity of 44 MW, scheduled for opening in Q4 of 2023. The total financing provided is PLN 216 million, with PKO Bank Polski supplying PLN 72 million.
Support for Foreign Expansion and Investment Projects
“To support our clients, we engage the best specialists in investment, trade, and working capital financing. We provide financial advice and deal advice for mergers and acquisitions. Our clients appreciate iPKO biznes, our modern online banking service, as well as our comprehensive range of cash management products and innovative technological solutions,” says Marcin Eckert, Vice-President of the Management Board of PKO Bank Polski in charge of Corporate and Investment Banking.
For many years, PKO Bank Polski has invariably supported clients from various industries undertaking strategic investment projects. For instance, PKO Bank Polski was a member of a banking consortium that granted a loan of PLN 2.8 billion to Maspex Group, one of the largest producers and distributors of food products in Poland and Central & Eastern Europe. The share assumed by PKO BP was PLN 875 million. The financing was used to acquire CEDC International sp. z o.o. and B2B Wine & Spirits sp. z o.o., the largest importer of foreign alcoholic beverages on the Polish market.
PKO Bank Polski is co-financing a loan to support the dynamic growth and international expansion of KROSS, Poland’s largest bicycle manufacturer. The syndicated financing worth PLN 460 million in total (with PKO Bank Polski’s share of PLN 230 million) will enable KROSS to continue its e-commerce expansion, build its own sales network in major cities and expand exports, reinforcing its leadership in Central & Eastern Europe.
PKO Bank Polski also offers instruments to support foreign expansion, such as letters of credit, guarantees, and documentary collection services, to secure business transactions. To assist business clients, the Bank has also opened corporate branches in the Czech Republic, Germany, and Slovakia, with a branch in Romania coming soon.
PKO Bank Polski provides its services to approximately 17,000 corporate clients, and its total pool of financing exceeded PLN 74 billion in 2021.
Partner
Materiał chroniony prawem autorskim - wszelkie prawa zastrzeżone.
Dalsze rozpowszechnianie artykułu za zgodą wydawcy INFOR PL S.A. Kup licencję.