Statement of Bank Polska Kasa Opieki Spółka Akcyjna on the application of Corporate Governance Rules for the Supervised Institutions
Management Board of Bank Polska Kasa Opieki Spółka Akcyjna (hereinafter referred to as the "Bank"), being responsible for the management of the Bank together with the Bank Supervisory Board, exercising regular supervision over the Bank's activities in all its fields, guided by the Bank's proper and safe operation in carrying out its task, hereby declare readiness to apply the Corporate Governance Rules for the Supervised Institutions issued by the Financial Supervision Authority on July 22, 2014 (the "Rules"), objectively to the fullest extent possible.
The decision on the adoption of the Rules for application by the Bank the Bank Management Board took on 14 October 2014 in accordance with the Management Board's Resolution No 356/X/14 and the Bank Supervisory Board on 5 November 2014 in accordance with the Supervisory Board's Resolution No 33/14. Moreover Bank Ordinary General Meeting (“General Meeting”), which took place on 30 April 2015 took a decision no. 25/2015 on adoption of Corporate Governance Rules for the Supervised Institutions. General Meeting has declared the application of Corporate Governance Rules addressed to the Bank's shareholders.
Bank Management Board, according to the Rules, informs on it’s website about application or withdrawal from application of certain rules.
Bank Management Board and Supervisory Board, respecting binding laws, expresses the will to apply the Rules, taking into account the principle of proportionality and the "comply or explain" principle, as set out in the Rules.
Bank Management Board hereunder presents information on particular rules, which are applied partly or whose application has changed and indicates rules, that due to the nature of business and specificity do not apply to the Bank.
1. Rules that are partly applied or whose application has changed.
| No. | Unit | Rule | Justification for changing partial application to full application | |
| 1. | § 21 item. 2 | A supervisory body shall have a separated function of the chairman to lead the work of the supervisory body. The selection of the president of the supervisory body shall be made on the basis of experience and ability to lead a team, taking into account the criterion of independence. | Compared to the analysis of the application of the Principles of Corporate Governance for Supervised Institutions for 2022, the Bank considers that it fully applied the principle set out in § 21 section 2 of the Principles of Corporate Governance for Supervised Institutions regarding the Chairman of the Supervisory Board (the previous assessment indicated partial application of the above-mentioned principle). The selection of the Chairman of the Supervisory Board of the Bank was made on the basis of knowledge, experience, including in managing the work of the body, and skills that confirm the competences necessary to properly perform supervisory duties. Moreover, in accordance with point 90 of the Guidelines on the assessment of the suitability of members of the management body and persons performing key functions EBA/GL/2021/06, ESMA35-36-2319 of July 2, 2021, the Bank recognizes that the Chairman of the Supervisory Board of the Bank is independent. | |
2. Rules that do not apply to the Bank.
| No. | Unit | Rule/title | Justification |
| 1. | § 49 item. 4 | In a supervised institution, where there is no internal audit unit or compliance unit, the entitlements referred to in items 1-3 shall be held by the people responsible for performance of those functions. | There are both internal audit unit and compliance units in the Bank. |
| § 52 item. 2 | In a supervised institution, where there is no audit unit or compliance assurance unit, and where no unit responsible for that area has been appointed, the information referred to in item 1 shall be submitted by the people responsible for fulfilling those functions. | ||
| 2. | Chapter 9 | Execution of Rights Resulting from Assets Acquired at Client's Risk. |
Bank does not operate in this area. Bank does not offer asset management products at the customer’s risk. |
The Rules are available on the website of the Financial Supervision Commission under the link: PRINCIPLES OF CORPORATE GOVERNANCE FOR SUPERVISED INSTITUTIONS