Bank Pekao – Ratings Affirmed with a Stable Outlook

Ref: PL 006 2 3 CRA00- 0 1 12 April 2024

Bank Pekao – Ratings Affirmed with a Stable Outlook

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating ( LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Bank Pekao at ‘A-’ and ‘A2’, respectively. At the same time, CI Ratings has affirmed Bank Pekao ’s Bank Standalone Rating (BSR) of ‘bbb+’, Core Financial Strength (CFS) rating of ‘bbb+’ , and Extraordinary Support Level (ESL) of Moderate. The Outlook for the LT FCR and BSR is Stable.

The affirmation of the ratings reflects Bank Pekao’s very strong liquidity and funding profile, low exposure to CHF mortgage loans, and the highest risk provisioning coverage of such loans among peers. The ratings also reflect the Bank’s sound capital base with limited downside risk s compared to its peers (top seven…