PKO Bank Polski – Ratings Affirmed with a Stable Outlook
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Summary
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 PKO Bank Polski (PKO or the Bank) at ‘A-’ and ‘A2’, respectively. At the same time, CI has affirmed PKO’s Bank Standalone Rating (BSR) of ‘a-’, Core Financial Strength (CFS) rating of ‘a-’ and Extraordinary Support Level (ESL) of Uncertain. The Outlook on the LT FCR and BSR remains Stable.
The affirmation of the ratings reflects PKO’s strong capitalisation, demonstrated by solid capital adequacy ratios, a stable deposit base and robust liquidity, bolstered by HQLAs. Despite risks from legacy CHF-denominated mortgage lending (and current potential economic headwinds), these are mitigated by PKO’s structural strengths – notably a strong capital buffer and good risk absorption capacity. The ongoing legal challenges related to CHF mortgage loans remain a significant risk factor…