PKO Bank Polski’s new strategy is focused on technology and innovation. Credit: Photo by Headway on Unsplash.

Polish banking major PKO Bank Polski is actively looking out for merger and acquisition opportunities, Reuters reported, citing the lender’s management board vice president Pawel Gruza.

“We will actively monitor the market situation regarding realistic acquisition opportunities in order to build our additional competencies,” Gruza said during a conference call. 

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According to Gruza, the rationale behind M&A is that it would take too long to expand through PKO Bank Polski’s existing operations. 

Over the same call, PKO Bank Polski CFO Bartosz Drabikowski stated that the lender plans to maintain its dividend policy. 

“Of course, the priority is our stakeholder, our investor, so we will protect elements like dividends,” Drabikowski said. The CFO also indicated that the bank could also launch a share buyback. 

In a separate statement, the Polish bank announced its strategy for 2023-2025, which will be focused on employees and customers, besides innovation and technology. 

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By 2025, PKO Bank Polski aims to achieve a return on equity (RoE) of more than 12% and cost to income ratio below 45%.

“We will support the transformation of the Polish economy, both in terms of energy and social mobility. We also intend to counteract the IT and economic exclusion of citizens,” Gruza’s statement read.

“We want to become the leader of the ESG transformation in the Polish banking sector. I would also like to assure you that we are perfectly prepared to face the uncertain conditions in which we currently operate.”

In October this year, the Polish bank forayed into the metaverse banking space by launching a virtual branch.