Good morning, ladies and gentlemen. My name is Artur Nowak-Far. I'm the Vice-President of the Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna. Let me open the Ordinary General Meeting of Shareholders of Bank Polska Kasa Opieki Spółka Akcyjna, convened today by the Board.
I would like to welcome all present, the shareholders of the Bank and their proxies, the members of the Supervisory Board, the members of the Board, and the experts of the Bank, representatives of media, all our guests that accepted invitation to participate in the Ordinary General Meeting. Before we move on to elect the Chairperson of the Ordinary General Meeting, I would like to ask the Unicom representative to present information on voting.
Good morning, ladies and gentlemen. You have received tablets for voting. Right now, you can see two buttons. Your data button, where you find the information about representation, how many shares you have, and how many you can use during this meeting. And the second button, with documents. Under this button, you'll find documents on this specific Ordinary General Meeting.
When it comes to the process of voting, once the voting is announced, the tablets automatically will start the mode of voting. You will see the decision-making buttons. You take the right decision one. You select decision on the next screen with summary information. You'll find information on your voting. If everything is correct, you press Confirm button and it sends information to the system. The system is also available for split voting.
Thank you very much. Let's move on to the second item on the agenda. Election of the Chairperson of Ordinary General Meeting. Please provide the candidates.
Good morning. Monika Patela, [planning potential rear of insurance company]. I would like to present Leszek Koziorowski to become the Chairperson of the Ordinary General Meeting. Do we have any other candidates, please?
I can't see. I would like to ask Mr. Leszek Koziorowski, to ask him whether he agrees for becoming a Chairperson. Thank you very much.
Let me close the list of the candidates. We have one person on the list. And let me remind you that according to Article 420, Article 2 of the Commercial Companies Code, this is the voting on personal aspect. It's a secret voting, and you can find information about it on documents attached to the website. Let me open the voting on election of Leszek Koziorowski as the Chairperson of the Ordinary General Meeting.
Is there anyone who would like to exercise the right to vote and cannot exercise this right? If not, let's start voting. Let me ask you again. Is there anyone who would like to exercise the right to vote and did not perform the right to vote yet? I can't see anyone. Let me close the voting and I will kindly ask for the results.
The resolution on the election of the Chairperson of the Ordinary General Meeting of Bank Polska Kasa Opieki Spółka Akcyjna. In secret voting, there were 177,137,703 votes cast, valid votes cast, out of 177,137,703 votes, which constitute 67.4887% of the share capital. There were 177,137,703 votes for. There were no votes against and no abstentions. All the votes were in favor of the candidate. We adopted the resolution, and I would like to give floor to the selected Chairperson of the Ordinary General Meeting. Sir, the floor is yours.
Good morning, ladies and gentlemen. I would like to thank you very much for unanimous election. I would like to welcome all the shareholders and all proxies. I would like to welcome representatives of the Supervisory Board and the Management Board with the President and Mr. and Madam Presidents, who are here with us. I would like to welcome Mr. Robert Błaszczak, Notary, that without him, we will not have any final document, minutes of the meeting. So Mr. Notary will take notes of the whole meeting. Before I move on, let me first prepare the documents. In a moment, we are going to continue the meeting. Ladies and gentlemen, thank you very much for your patience. I am ready to continue the meeting. We are on item three of the agenda, published and proposed by the Management Board of the company.
Item three is about statement of the correctness of convening of the Ordinary General Meeting of Bank Polska Kasa Opieki Spółka Akcyjna, and readiness to adopt resolutions. I am obliged to make the following statements here. First and foremost, let me notice that today Ordinary General Meeting was convened according to the regulations on public companies, Article 402 and subsequent articles. Announcement was published 62 days before the meeting, by the report number 13/2026 as of April 30th 2026, and subsequently, upon the request of the shareholder, the agenda has been modified and published as an extended agenda under report 14/2026 as of the May 8th this year. Therefore, as the Ordinary General Meeting, we are bound by the extended agenda published in the report 14/2026. We are going to discuss the agenda in a moment.
On top of the Current Report, there is an information about the agenda and convening the meeting. This information was published on the website of our company according to the provisions. Today, we have in total here in the room and online shareholders representing 177,137,703 votes, shares, and the same number of votes, which is proven by signing the list of attendance. That confirms the shareholding structure.
Of course, the changes are possible, but this is the situation right now during the Ordinary Meeting. Given these statements, let me say that the Ordinary General Meeting has been convened correctly, and it is able to adopt resolutions foreseen by the agenda of today's Ordinary General Meeting published in the report 14/2026. Let me mention some technical aspects before we move on to the next item on the agenda.
Along with the reports 13 and 14, there were drafts of resolutions published, resolutions to be adopted today. These drafts of resolutions have been published on the website of the company. Today, we are going to vote on the resolutions in the same content as the ones published in the reports. Unless, during the meeting, another draft of resolution is presented, but always we will mark it, and without any other changes, we are going to vote on the draft resolutions resulting from the reports.
Therefore, I'm not going to read them out. Unless there is someone who is expecting it. However, some resolutions are quite empty and some just repeat the content. Ladies and gentlemen, we are ready with item three of the agenda. Let's move on to item four, adopting of the agenda of the Ordinary General Meeting of Bank Polska Kasa Opieki Spółka Akcyjna.
I have a question. Do you have any proposals, opinions, proposals for the modifications to the agenda? I can't see anyone. Therefore, let me ask you to vote the resolution in the current report 13. It is a resolution for item four of the agenda on the adoption of the agenda of the ordinary general meeting. I would kindly ask to make system ready for voting.
System is ready. I understand that it has been explained how to use it. Let me open the voting on adoption of the agenda of the ordinary general meeting as it was stated in the current report 13/2026. Let's vote. Did you all have a chance to cast your vote? As I understand, the answer is positive. I would like to close the voting session. Let's publish the result. I would like to see the results being displayed right behind me.
Hopefully, you can see them on the screens. I would like to see them on my screen as well, so that it's easier for me to read them aloud. We want you all to be able to see them instantly. Let's see the results of the voting session. Thank you so much. I consider the resolution to be adopted, and in favor we have 177,137,703 votes in favor of it. The resolution has been adopted by the general meeting. Let's proceed according to the agenda.
Within the agenda, we have points from five to nine. When it comes to the agenda, we are at the ordinary general meeting pertaining to the financial reporting of the bank for the year 2025. We have several documents to review. Let me remind you that all the documents annual basis have been published by the bank. There is a seasonal document that you are familiar with. Right now, I would like to give the floor over to the President. We would like to hear some short introduction from you. Over to you.
Thank you. Ladies and gentlemen, dear shareholders, dear guests. Thank you so much for being present here today at the general meeting of shareholders of Bank Polska Pekao S.A. It's a very special year, a very special moment. A year of exceptional results. We have to consider the long-term perspective assessing the future conditions under which we are going to operate. The year 2025 was the best one for the bank when it comes to the generated net profit. The Capital Group generated the level of PLN 7 billion when it comes to the net profit. The return on capital accounted for 20%.
This is the result that has been generated thanks to a relatively consistent commercial operation and stable interest margin, stable volumes and the entire portfolio that we have at our disposal. Let me underline in a clear manner that our objective is not only to present all the record-breaking numbers, we want to build sustainable, lasting value for all the shareholders long-term.
It is a great satisfaction for us to present to you single results and the proposal of profit distribution that goes hand-in-hand with our dividend-based policy declared in our strategy. The bank, for many years, has been a dividend company. Over the last 25 years, only in two exceptional years, the bank was unable to pay out the dividend. It was actually delayed, and it was paid out in another year.
In the current year, the stock exchange in Warsaw was celebrating its 35 years of operations, and we, as the bank, have been appreciated as the only institution on the stock exchange in Warsaw, namely over the last 35 years, that paid out the highest record-breaking level of dividends. Our policy and our strategy when it comes to payout ratio, it is at the level of 50% up to 70% in each and every year of our strategy being in place.
At the same time, we remember that the responsible policy of all the shareholders has to go hand-in-hand with taking care of our shareholders and the security of the bank. When it comes to more demanding things in terms of provisions, because the circumstances are really testing, hence we have to take care of the capital.
We have to make sure that the bigger part of it is allocated remains here in the bank so that we can develop our bank commercially. This is also our objective, hence the declaration at the level of 50% up to 70% when it comes to the so-called paid-out ratio. The results of the banking sector, including our bank, have been influenced by the entire macroeconomic environment in the year 2025. Decreasing inflation as a result, decreased interest rates and after two years of break and the level of interest rates that has improved, and we benefited from it as well as the entire banking sector.
The Monetary Policy Council cut interest rates by 1.75 percentage points from the level of 5.75 to the level of 5% at the end of 2025. Decreased interest rates took place in the second half of the year. Hence, the results from 2025 failed to influence its negative influence fully. When it comes to the interest margin, it was influenced by the over-liquidity of the banking sector. We had more credits than deposits, hence the margin remained at the same level. We take pride in it. The margin continues to exceed 4%, but we do realize that in the environment of decreased interest rates, there will be a pressure on the margin.
Before any possible discussion, let me say that we hope that this year we assume for further cuts of interest rates in the wake of all kind of political events, but probably it will not happen very soon. We hope that the economic growth will be maintained at the level of 3.5% as declared. We formulated it a month ago.
There were some adjustments in this respect, but not significant ones. I must say that another significant element is first and foremost a very powerful position of the consumer-based market in Poland, as well as investments that were able to bounce back, and this is something that we're counting on for a long time. It was announced. The timeline right now shows that the year 2006 indicates that there will be a growing demand for financing, especially when it comes to the corporate sector.
The bank seems to be perfectly prepared for the current situation. We'd like to play a pivotal role when it comes to the financing, the coming investment cycle. I don't want to call it an investment boom, but definitely some kind of activity, especially in the sector of enterprises, seems to be quite visible for us today. This is true about enterprises, but also all kind of infrastructure-based projects that are in the pipeline currently in Poland on quite a large scale, also supported by the activity of the state.
Our advantage, given the current market conditions, I can call them Polish conditions specifically, are the competencies of our corporate banking that position us as the leading institution here on the Polish market. Very powerful position historically when it comes to financing enterprises as well as the expertise of the investment banking, as well as the debt market.
Given the conditions of the year 2025, we noted a growth of 11% when it comes to our portfolio of corporate credits. When it comes to the issued treasury bonds, the total value came to PLN 11 million. We are the leader of the market. You have to be realistic, namely, that in the case of the biggest transactions that are instigated on the Polish market, mostly the ones focused on infrastructure. The banking sector is not sizable enough.
We are dealing with some kind of limitations stemming from limitations in terms of the level of capital that we have at our disposal, as well as the entire banking sector in Poland. The banking sector seems to be a pivotal element when it comes to financing Polish economy. Approximately, it is responsible for 80% of financing when it comes to everything allocated to the enterprises more than average.
However, our capabilities are not unlimited, and this can be attributed to a slower growth of the capital as compared to the dynamics of the economic growth here in Poland. In the context of sizable, vast infrastructural projects, a huge challenge is to be able to finance them by the national sector. I can say that when it comes to the biggest investments, the potential of the sector comes to maybe one-third of the level of the financing needed.
What is also critical is that we keep to enhance our position when it comes to what is crucial from the point of view of our relations with customers. We can see that the number of extended loans seems to be growing. It used to be a challenge. We remain powerful when it comes to investment projects, factoring and leasing.
The commission-based result keeps growing faster by 11%, which is the fastest pace when it comes to the comparative group of all the banks. This matters because the diversified revenue-based model increases the resilience of the bank in the environment of the ever-decreasing interest rates. Last year, as I signaled, we adopted the strategy.
We are reaching behind the horizon when it comes to the years 2025, 2027. Short-term or mid-term, when it comes to our strategic perspective, it seems to be more adequate to the fluctuating environment of the banking sector. It operates based on three pillars: growth, availability, and efficiency. When it comes to the growth, I talked about it before.
When it comes to the availability, we have a number of projects in the pipeline to this end. As for the efficiency of the bank, to a large degree, it is being expressed by way of the growing number of approvals by our customers. The NPS index seems to be ever-improving, especially given our retail customers.
Obviously, the growth means the growing credit action. It will be continued also in the current year. Nevertheless, the strategy, the year 2025, helped us to gain momentum. Right now, we are consolidating our operations when it comes to consolidating some projects. Some projects should be advanced this year and some next year. We have to be open.
When it comes to the prospects of the sector in Poland, they do not depend only and exclusively on the quality of the management in individual banks. What matters are also regulation-based conditions as well as the availability of capital. The higher effective taxation of banks, significantly higher, the highest one in Europe, I could say.
The growing requirements in terms of capital. This can be attributed to pan-European regulations, especially the defective structure of the European banking tax. This influences significantly the way the entire banking sector operates here. It reduces the capacity to replenish our capital and to rebuild the economy on the scale that is so much needed. This is not an argument against the security of the sector. No. Basically, we have to build our security in a reasonable scale without reducing our potential for growth.
This is a dilemma when it comes to the managers in Polish banks. It is really a demanding task, indeed. Given this context, let me pinpoint the following concept. As announced last year, I'm talking about PZU Group and PKO as a group. Quite complex, also in terms of investor relations. It involves a number of stakeholders. From the strategic perspective, this could enhance the position of the entire conglomerate.
This could release a significant amount of capital for the next year. We are not talking about an operational merger. No, just putting an order to the ownership structure. In this way, we could release more than PLN 20 billion. The most valuable money on the market, namely equity. This could go hand-in-hand with European trends and the long-term strategy on the bancassurance that organizes conglomerates in Europe.
This organization would position the entire conglomerate according to the dominating model. At the same time, as I said, it could help us to release a large amount of capital. In this way, we could be able to take advantage of all kind of regulatory preferences that banks enjoy as compared to insurers from the point of view of holdings.
The year 2025 also proved to be a period of structuring certain internal affairs, enhancing managerial or executive standards of the bank. The review of the operations or the audits commissioned by the Supervisory Board revealed some irregularities. As a result, we instigated some corrective action. We enhanced procedures. We made sure some clear-cut boundaries were set where some cases of irresponsible management was proven. We need to enhance trust to the banking sector.
This can be done by way of not only the result, profit, the ability to grow, generate balance. It is also done thanks to the quality of corporate structure and the transparency of the structure based on honesty. Let me also pinpoint that there is another initiative worth underlining that perfectly matches our long-term approach to building value, namely relations with the capital market.
In May last year, we launched a program for the group of shareholders of Bank Pekao. Our very first loyalty-based program of this kind in the Polish banking sector. Our activities are based on the trust and cooperation with the shareholders. Our ambition is that shareholders of our bank are not only participants of our financial success, but also partners in further development and natural ambassadors of this institution.
This program strengthen the integration of the banking services, investment services as well, and it follows the broader strategy to build client investor relations in Pekao Group. Looking ahead, we will remain ambitious but realistic as well. We know that remaining this situation in the conditions of the lower interest rates and further burdensome requirements won't be easy. We know that the bank has strong foundations, strong relations with clients, competent employees, loyal clients, and healthy balance sheet and outlined strategic direction.
Our task is to use all these benefits in a safe way, responsible way, and the way that will help us to develop the bank. In this context, let me say a few words about the value of shares of the bank over last year, 2025. The level grew from PLN 137.9 by the end of 2024 to PLN 205. In April this year, it reached its maximum, PLN 253.90.
It is not my role to talk about the future value of the shares over time. We registered the maximum in the conditions where we see growing fiscal burdens for the banks, at the same time, drop of the interest rates. This situation indicates the significant interest of shareholders and investors who would like to have shares of our bank.
Let me just add here that we do care for the way we communicate with investors, so that the knowledge about Bank behaviors, Bank targets, objectives, and strategy that is implemented, is commonly known and this has been appreciated by the market. Of course, we would like to take care of it in coming years. In this context, let me say a few words about years to come.
The year 2029, specifically when the Bank will celebrate 100 anniversary, the next strategy will be actually built based on this motive. There are not many institutions in Poland with such a long track record, we would like to use this opportunity to anchor our Bank in the imagination of the investors.
Also we would like to use this opportunity to revitalize the Bank, to get back to its international situation on the market. Of course, we monitor regular risks that may impact the stability of the market. We discuss market players who support the stability and security of the financial markets in Poland. We have to face the adjudications of Polish courts that favor Polish customers.
In these circumstances, we are trying to find a way to take care of our customers, to show the empathy, but at the same time to protect the interests of the institution in conditions where the stability of law in Poland and execution of law triggers some problems. The attached statements on the items mentioned before and the information on the version of profits, this is the decision of the Management Board of the Bank confirmed by our signatures.
This is proving the financial situation of the Bank, we would kindly ask you to vote in favor of the resolutions that we're going to vote for. I would like to thank the Management Board, Supervisory Board for the constructive cooperation and for renewing our mandate that was granted in April this year. A mandate that opens at the three years tenure and the same composition of the Board. Thank you very much for your attention.
Mr. President, thank you very much for such a broad and transparent presentation of the situation of that Bank and for introducing items five to nine of the agenda, where we are going to talk about the financial statements of the financial year. Ladies and gentlemen, the items five through nine that I'm not going to read out. After presenting the statements, I would like to ask you a question. Are you going to participate in a discussion? Do you have any comments, questions? This is the right moment to do so. Let me proceed in the following way. We should now use time for discussion, as of item 10 on the agenda, we only will be adopting the resolutions. If there is a need for the discussion, we should start a discussion now.
This is a discussion on the division of the profits and financial aspects of the financial statement. If there is a need, let me open the floor for discussion. I can't see any volunteers. I can't hear anyone. I understand that everything is clear and transparent. The statements have been presented fully. The introduction was very broad and sufficient. Let me close now the recognitions of items five to nine. Now let's move on to item 10, and we are going to vote on the individual resolutions. Before we do so, let me say that the shareholders changed, and we have one shareholder more who will be actively participating. In total, we will have 170,138,103 votes, the same number of shares. Percentage-wise, we remain the same. It's 67.4%, more or less, of the share capital of the company.
This is a statement to be taken for the protocol. Now we move on to item 10 on the agenda, report on the adoption of the resolution of approval of the report on activities of Bank Pekao S.A. Group. Here we have resolution corresponding with item 10 on the agenda, point one. Let's get ready for voting. The system is ready, and now I would ask all the participants to start casting votes. The content of the resolution is identical as the one presented in Report 13. This draft resolution was published in current Report 13/2026. Have you all voted already? I understand, yes. Let me close voting, and let's present the results. Thank you very much. The resolution was adopted by 176,713,534 votes. No abstentions. 424,569 votes abstained. Thank you.
Point 10, sub-point two, approval of the entity specific financial statements of Bank Pekao f or the year ended on December 31st 2025. This corresponds with the draft resolution presented in the materials. Point 10, item two, with the same title. Now, this resolution shall be voted. The system is ready for voting, and I would ask participants to cast their votes. Can we close voting? Yes. Let me close the voting, and again, I would ask for presentation of the results.
Thank you very much. The resolution has been adopted. 176,710,232 votes for, 3,302 against, and 424,569 votes of abstention, so the resolution is adopted. Item three of point 10, approval of the consolidated financial statements of the Bank Pekao S.A. Group for the year ended on the December 31st 2025. We have a resolution for this item. Let's get ready for voting. Let me close the voting. I hope everyone cast their vote already. Let's present the results.
Thank you very much. Resolution is adopted. 176,710,232 votes for, 3,302 votes against, and 424,569 abstentions. We can move on to item four, distribution of profit of Bank Polska Kasa Opieki Spółka Akcyjna. The draft resolution has been published for this item four. Let's get ready for voting, and let's vote now. Thank you very much. Therefore, I'm closing the voting. Let's present the results. Resolution was unanimously adopted. 177,138,103 votes in favor
Let me remind you, as new shareholders joined the meeting, the shareholding structure changed. Now we move on to the next item, approval of the report of the supervisor, report of Bank Polska Kasa Opieki S.A. for 2025, along with assessments and opinions made in accordance with regulatory requirements. We also have prepared draft resolution for this item. The system for voting is ready. Let's start voting now. I would like to close the voting session and let's see the results. I would like to state that the resolution has been adopted. For 176,715,457, zero against, abstentions 422,646 votes. Let's move on to point six on our agenda, we are going to cast our votes by secret ballot. Although it is done collectively, one resolution to be adopted that should not be voted upon by secret ballot. Let's not change this system all the time.
I would like to ask you to do it by secret ballot. This will be easier technically. Similarly, secret ballot voting will be performed for point seven and eight. Right now, I would like to state that the next voting sessions will be performed by secret ballot. Under point six, we are going to vote on several resolutions and the assessment on the individual suitability, and one by one, according to the published order, I will let you vote on the individual resolutions. The first one is on the self-assessment of the individual suitability of Mr. Bogdan Benczak. Let's get the system ready. The system is ready. I would like to start the secret ballot voting. Let's vote. Thank you very much. We can close the voting, I believe. Let's present the results. I would like to state that the resolution in the proposed shape has been adopted.
Votes for 177,131,788, against 6,014 and abstentions 301. Let's move on. The self-assessment of the individual's suitability. This one is about Mr. Artur Nowak-Far. The system is ready. Let's start the voting. I would like to close the voting session and let's see the published results. I would like to state that the resolution has been adopted. Votes for 176,812,819, against 324,784, and there were 500 abstaining votes. The next draft resolution is about Madame Magdalena Joanna Dziewguć. Let's get the system ready, and let's vote on the resolution. Can we close the voting session? Yes, and let's present the results. I would like to state that the resolution has been adopted. Votes for 177,137,603, votes against 500, no abstentions. The next resolution is about Mr. Krzysztof Czeszejko-Sochacki . Let's get the system ready. I just heard that the system is ready, please start casting your votes.
As I understand, everybody had a chance to cast their votes. Let's present the results. I would like to say that the resolution has been unanimously adopted. The next resolution will help us to assess the individual suitability of Madame Diana Dębowczyk . The voting system is ready, ladies and gentlemen, please start casting your votes. If I may, I would like to close the voting session. Let's present the results. I would like to say that the resolution has been adopted. Votes in favor, 177,131,589, against 6,514, no abstentions. Mr. Jacek Nieścior is the next resolution regarding the self-assessment of the individual suitability. The system is ready. Let's start the voting session. If I may, I would like to ask you to present the results. Let's close the voting session. I would like to say that the resolution has been adopted.
Votes in favor, 177,137,603, against 500, and no abstaining votes. Mr. Witold Walkowiak, this is the next resolution regarding the assessment of the individual suitability. Please start casting your votes now. May I close our voting? Yes. Let's see the presented results. I would like to say that the resolution has been unanimously adopted. Votes in favor, if you can see them displayed on the screen. The last resolution pertaining to the self-assessment of the individual suitability. This one is about Mr. Mariusz Jaszczyk . Let's get the system ready, let's start our voting. Thank you so much. I hereby would like to close the voting session. Can we see the results, please? I would like to state that the resolution has been adopted. Votes in favor of 177,132,089 votes, 6,014 votes against, no abstentions.
Under point six, the last resolution to be voted upon. This one is about the self-assessment of the collective suitability of the current Supervisory Board of the bank. The current composition, namely eight members, in accordance with the contents published in report 13/2026. Let's vote on the relevant resolution. Let me remind you that upon the motion, it will be performed by secret ballot. Let's not change the voting system. As I understand, the system is ready. Please start casting your votes right now. Thank you so much. As I understand, everybody had a chance to cast their vote. Can we see the results, please? I state the resolution to be adopted. Votes in favor of 177,132,089, against 6,014, no abstaining votes whatsoever, which means that we just closed point six of the agenda. We are still in the procedure of secret ballot votings.
Point seven is about granting discharge to members of the Management Board of Bank Polska Kasa Opieki Spółka Akcyjna for the performance of their duties in the year 2025. Under this point, again, we have several resolutions to vote upon. I will stick to the order of the current order. The first one is about granting discharge to the President of the bank, Mr. Cezary Stypułkowski. Let's get the system ready. Please start casting your votes right now. As I understand, everybody had a chance to cast their vote. I would like to close the voting session. Let's present the results. I state the resolution to be adopted. Votes in favor, 176,643,838, against 3,041, abstentions 491,224. Mr. President Cezary Stypułkowski has been granted discharge. Dagmara Wojnar, this is the next resolution. Vice President of the Management Board. The system is ready. Let's start our voting.
I believe that everybody had a chance to cast their vote. Let's close the voting session. We would like to see the results. Thank you very much. The resolution is adopted. 176,633,437 in favor, 3,141 against, 491,521 abstentions. Dagmara Wojnar is granted discharge. Congratulations. Next resolution on granting the discharge for Mr. Robert Sochacki. The system is ready. Let's start voting now. Let me close the voting. Let's present the results. The resolution is adopted. 176,643,738 in favor, 2,641 against, 491,724 abstentions. I would like to congratulate Mr. Robert Sochacki. He received the discharge. We move to the next resolution on Mr. Błażej Szczeck i, the Vice President of the Management Board.
The system is ready for voting. Let's open voting now. Has everyone cast their vote? Thank you very much. Let's close voting. Let's present the results. Thank you very much. Resolution is adopted. 176,643,738 votes in favor, 3,141 against, and 491,224 abstentions. Congratulations, sir, for granted discharge. Next resolution. Sorry, I didn't want to omit anyone. It would be very unfortunate. Mr. Marcin Gadomski. We follow the order of publication. Marcin Gadomski. We vote on Marcin Gadomski. System is ready. Let's open voting now. I understand we can close voting. Let me close voting now. Let's see the results. The proposed resolution is adopted.
176,643,738 votes in favor, 2,064 against, 491,724 abstentions. Congratulations on granted discharge. The next person is Mr. Marcin Zygmanowski, Vice President of the Management Board. System is ready for voting. Let's start voting now. Mr. Marcin Zygmanowski. Mr. Notary was asking me about this name, so let me close the voting and let's see the results. The discharge is granted. 176,643,738 in favor, 3,141 against, 491,224 abstentions. Congratulations for granted discharge. Mr. Michał Panowic z. The system is ready. Let's open voting now. I close the voting and let's see the result now.
The resolution is adopted. 176,643,738 votes in favor, 2,641 against, 491,724 abstentions. Congratulations for granted discharge. The last resolution on granting discharge for the Vice President of the Management Board, for Mr. Łukasz Januszewski. The system is ready. Let's open voting now. Thank you very much. I can close the voting now. Let's see the results. The resolution is adopted. 176,643,738 votes in favor, 3,141 against, 491,224 abstentions. Congratulations on the granted discharge. We've managed to implement item 10, sub-point seven of the agenda, and now we are going to move to sub-point eight, granting discharge to members of Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna for the performance of their duties in the year 2025. We remain with secret ballot.
Thank you for your patience. We have many resolutions to vote upon. The first resolution is on granting the discharge from the duties for Mr. Artur Olech, Chairman of the Supervisory Board. The system is ready. Let's vote now. Let's see the results. Let's close the voting. Just a moment, please. Unfortunately, we still have one person voting, so let's be patient. Thank you very much. Now, I would like to close voting and let's see the results. The resolution is adopted. 175,485,737 votes in favor, 1,161,142 votes against, 491,224 votes of abstentions. Congratulations on the discharge. The next resolution is on Mr. Bartosz Grześkowiak . The system is ready. Let's start voting. Thank you very much. Let me close the voting now and let's see the results. Thank you. The resolution is adopted. 165,793,138 votes in favor, 10,853,741 against, and 491,224 abstentions. Congratulations on the discharge.
We move on to the next resolution on Mr. Artur Nowak-Far. The system is ready. Let's open the voting now. Thank you very much. Let me close the voting now. Let's see the results. The resolution is adopted. 162,865,961 votes in favor, 13,780,418 against, and 491,724 abstentions. Congratulations on granted discharge.
Next resolution is on Mr. Jacek Nieścior . The system is ready. Let me officially open the voting now. Thank you very much. I would like to close the voting. Let's present the results. I would like to state the resolution to be adopted, 165,793,138 votes for, against 10,853,241, and abstentions 491,724. Again, congratulations on the granted discharge. The next resolution and the next person is about Mr. Krzysztof Czeszejko-Sochacki . The system is ready. Let's start the voting session. I can say that I can close our voting. We will wait for the results to be displayed. The computer seems to be taking forever today when it comes to counting the results. Perhaps AI, something to consider. Okay, thank you. I would like to declare the resolution to be adopted. Votes in favor, 176,553,738. Against, 92,641. Abstentions, 491,724.
I would like to declare the resolution to be adopted. Congratulations on the granted discharge. The next resolution is about Mr. Radosław Niedzielski . The voting system is ready, I hereby order the voting to be started. Can we? Thank you. As I understand, everybody had a chance to cast their vote. I can close the voting session. We are going to await the results. I'd like to declare the resolution to be adopted. Votes in favor, 176,553,738. Votes against, 92,641. Abstentions, that's 491,724. Let me congratulate to you on the granted discharge. The next person is Mr. Witold Walkowiak. We are going to vote on the discharge for him. The system is ready. Let's vote. Thank you. I hereby close the voting session. Let's see the results. I would like to state the resolution to be adopted. The discharge has been granted.
Votes in favor, 165,792,738. Votes against, 10,853,741. Abstentions, 491,624 votes. Congratulations. Right now, we are going to vote on granting discharge for Ms. Magdalena Joanna Dziewguć . As I understand, we can start our voting, I would like to order the voting to be started. Go ahead. Please start casting your votes. Just click on the right button. Thank you. I would like to close the voting session. Let's present the results. I would like to state the resolution to be adopted. Votes in favor, 165,793,038. Against, 10,853,841. Abstentions, 491,224 votes. Congratulations on the granted discharge.
We can right now move on to the next resolution on granting discharge to Mr. Andrzej Klesyk when it comes to his fulfillment of duties as the member of the Supervisory Board. The system is ready. Let's start casting the votes. Thank you. I would like to close the voting. We'd like to see the presented results. I would like to state the resolution to be adopted. Votes in favor, 175,485,737. Against, 1,161,142. Abstentions, that's 491,224 votes. Congratulations to Mr. Andrzej Klesyk on the granted discharge. The next resolution is about Mr. Mariusz Jaszczyk , the member of the Supervisory Board. The system is ready. Let's start the voting. Thank you very much.
I would like to close the voting. Can we see the results, please? I would like to state the resolution to be adopted. Votes in favor, 174,833,218 votes. Votes against, 1,813,661. Abstentions, that's 491,224. Congratulations on the granted discharge. The last but one resolution, granting discharge for the performance of the duties to Mr. Bogdan Benczak. The system is ready. I would like to order the voting to be started. Thank you. I would like to close the voting, and let's see the results. I would like to state the resolution to be adopted. Votes in favor, 176,094,245 votes.
Votes against, that's 552,634. Abstentions, 491,224. Congratulations on the granted discharge. The last resolution under point 10 in this cycle is about Ms. Diana Dębowczyk . Let's get the system ready, and please go ahead and vote. Thank you very much. I would like to close the voting, and let's present the results. In the meantime, I would like to declare that we have ended the procedure of secret ballot voting. From now on, let's move on with open ballot voting. Right now, the cycle of secret ballot voting has come to an end. Thank you for the results. I would like to declare the resolution to be adopted. Votes in favor, that's 176,553,738.
Votes against, that's 93,141. Abstentions, that's 491,224. The Discharge has been granted. Congratulations to Ms. Diana Dębowczyk . This is it when it comes to granting discharge, but this is not it when it comes to our ordinary meeting. Let's move on to point 11 on the agenda. The review of the report on the evaluation of the bank's remuneration policy of the bank in the year 2025, and adopting the resolution on the evaluation of the remuneration policy of Bank Polska Kasa Opieki Spółka Akcyjna in the year 2025. The relevant assessment has been presented to you together with all the reports and statements. I would like to ask if there's anybody who would like to ask a question, take the floor. If not, let's vote on the resolution submitted put forward by us.
When it comes to the evaluation of the remuneration policy of Bank Polska Kasa Opieki Spółka Akcyjna in the year 2025. Right now we are going to vote in the open ballot procedure. Let's get the system ready, and please start casting your votes right now. As I understand, everybody has cast their vote. Thank you so much. Let's see the results. Thank you so much. I would like to state the resolution to be adopted. Votes in favor, 176,713,034 votes. Votes against, that's 1,923. Abstentions, 423,146 votes, which means that the remuneration-based policy has been positively assessed or reviewed. Let's move on to point 12, review of the report on the remuneration of members of the Management Board and Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna for the year 2025, and adoption of a resolution regarding the opinion thereof.
Similarly, all the materials have been published. The draft resolution is available when it comes to all the materials. Point 12 on positive assessment. Is there anybody who would like to comment on this, ask a question, take the floor? If not, let's get the system ready. The system is ready. The resolution that has been published in all the materials, in this specific form, we are going to vote on it right now. Can we? As I understand, all of you have cast your vote. Let's close the voting session. Let's present the results. I would like to state the resolution to be adopted. Votes in favor, 125,605,702 votes. Votes against, 51,531,901. Abstentions, 500. The resolution in the submitted form has been adopted. Let's move on to the next point 13.
Review of the self-assessment of the adequacy of internal regulations regarding the functioning of the Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna and the effectiveness of the operations in 2025, as well as the adoption of a resolution on the assessment of adequacy of internal regulations regarding the functioning of the Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna and the effectiveness of its operations. Is there anyone who would like to take the floor on this item? I can't see. We have a corresponding resolution, the draft resolution on our current report, number 13, and this resolution is going to be voted upon now. The system is ready for voting? Let's open voting now. Let me close voting and let's present the results.
The resolution is adopted. 177,137,603 votes in favor, no votes against, 500 abstentions. We close item 13 of the agenda and we move on to the item 14. Let me say that the report on the assessment of compliance by Bank Polska Kasa Opieki Spółka Akcyjna in 2025 with the principles of corporate governance for supervised institutions issued by the Polish Financial Supervision Authority on July 20th 2014. This report has been presented with all assisting documents. You had a chance to get acquainted with these documents. My question is, do you have any statements or opinions on that? I can see, I can hear, and I think we don't have any draft resolution here. I understand that we can move on to the item 15 on the agenda. In fact, we have just finished on the financial statements and all aspects related to the ordinary shareholders meeting.
Again, I would like to congratulate the Management Board and Supervisory Board for granted discharge and for voting in favor of these financial statements. Now we are going to move on with the items on the agenda. Number 15, adoption of resolutions on amending the statute of Bank Polska Kasa Opieki Spółka Akcyjna and authorizing the Supervisory Board of Bank Polska Kasa Opieki to establish the consolidated text of the statute of Bank Polska Kasa Opieki Spółka Akcyjna. The board proposed to vote on four subsequent resolutions. Before we start voting, I kindly ask you whether you need a word of comment or you have any questions on that. I can't see anything, let me remind you that to make the resolution adopted, we need the qualified majority of 75% of votes.
I'm not sure if this is going to be visible on your tablets, but if this is not obvious, let me know whether we achieve the three-quarters of votes which is required. Now let me announce voting on the subsequent resolutions. Of course, the first resolution on the amending of the statute of the bank in paragraph six, section one, item 13 and 27. This is the resolution. Is it clear? Yes? Let's prepare the system. System is ready. Let's start voting now. I understand all participants of the meeting cast their votes. Let me close voting and let's see the results. The resolution is adopted. We have 177,137,271 votes in favor, against 400, and 432 abstentions. It's almost 100%. We could actually round it up to 100%. So the resolution is adopted. The second resolution on this item is about changes of paragraph six. Let's open voting now.
Let me close voting now. I understand all cast their votes. Resolution is adopted. We had 177,137,972 votes in favor, no votes against, and 131 abstentions. The third resolution on changing the statute refers to paragraph six, section 1.35, where we add G as provided in the content of the resolution. I understand this is clear and I understand the system is ready. Let's open voting now. Thank you very much. Let me close voting and let's present the results. Resolution is adopted. 177,137,972 votes in favor, no votes against, 131 abstentions. The last resolution under item 15 is about the changes to paragraph 22, section one, item five, that should read as follows as described in the resolution. I understand there are no questions as for this point, therefore, let me ask you to cast your votes now. We can close voting now. Let's see the results.
The resolution is adopted. 177,137,972 votes in favor, no votes against, and 131 abstentions. The general shareholders meeting adopted all the proposed modifications for the statute and the Management Board will proceed with the amendments as required by law. Ladies and gentlemen, we have realized item 15. Now we move on to number 16 on the agenda. Adoption of resolutions and changes in the composition of the Bank Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna. We are talking about personal aspects. As of now, all the voting under this item should be secret ballot only for this item. Voting on the next item on the agenda will be open again. Let me remind you that the Supervisory Board is composed of eight persons. According to the statute, it can be composed of nine persons.
The current report, 16/2025, the company informed that the company received the candidature of Mr. Aleksander Werner to become the participant member of the Supervisory Board. The company announced the information about this candidature, shared the information about it. The shareholder, Powszechny Zakład Ubezpieczeń , reviewed the candidature, whether it fulfills all the requirements and legal requirements. I understand that from the PZU perspective, this candidate is valid and you confirm that you stick to your decision. Yes. This information is just reminding the facts that happened before the meeting, before we start voting on this item, do we have any proposals on the dismissals of members of Supervisory Board? Sorry. Just a moment, please. Any dismissals? Any issues related to dismissals of members of Supervisory Board? Okay. You did not raise your hand in order to propose dismissal, right, sir?
There are no proposals to dismiss any of the Supervisory Board members. The second question, do we have any other candidates as members of the Supervisory Board? I can't hear, I can't see anyone. We had one candidate that was raised in a valid manner. We are going to vote on this candidate. I understand that you, sirs, would like to ask for five minutes break to consult on this matter. Right. Let me announce now a five minutes break. Upon the request of the shareholder, it is 11:44 A.M., until 11:49 A.M. we have a break. After break, we are going to vote on the resolution. The break will last until 11:49 A.M. Ladies and gentlemen, nine minutes to 12: 00 P.M. Let's resume our deliberations. Let's vote by secret ballot on the resolution in accordance with the draft document.
You can find it in report 14 when it comes to the current agenda. The current report number 14, published on the internet website, on the appointment of the member of the Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna. Taking into account the assessment of fulfillment of suitability requirements. The ordinary general meeting, taking into account the assessment of compliance with suitability requirements, appoints Mr. Aleksander Werner as a member of the Supervisory Board of Bank Polska Kasa Opieki Spółka Akcyjna for a joint term of three full years.
The remaining content remains unchanged, unamended, the resolution will be voted upon. Let's get the system ready. Is everything clear what we are voting upon? Let's start the voting. As I understand, I can close the voting. Not yet? This time, gentlemen seem to be taking longer. Thank you very much. I would like to close the voting session. Let's present the results. I hereby declare that the resolution as proposed has been adopted. Votes in favor, 124,907,439, against 27,071,052 votes, abstentions 25,124,135 votes. The resolution was given a determined majority, which means that Mr. Aleksander Werner has been appointed as a member of the Supervisory Board, which means we are finished deliberating upon point 16 of the agenda. Let's move on.
When it comes to point 17, it is adopting of resolution on the assessment of the collective adequacy of the Supervisory Board of Bank Polska Kasa Opieki S.A. under the point. This item of the agenda, we have another resolution. You can find it in the current report number 14/2026. The draft resolution should be completed, namely paragraph one, the ordinary general meeting positively assesses the collective suitability of the following composition of the Supervisory Board of Bank Polska Kasa Opieki S.A.: Bogdan Benczak, Artur Nowak-Far, Diana Dębowczyk, Magdalena Joanna Dziewguć , Krzysztof Czeszejko-Sochacki , Jacek Nieścior , Mariusz Jaszczyk , Witold Walkowiak, Aleksander Werner, the last surname under paragraph one. Is this clear to you, ladies and gentlemen? With all due respect, the order is random, the order of surnames. One minute. One minute. Please be patient. I would really acknowledge your patience.
We just need to take one minute to wait. As I understand, we can proceed. Let's vote upon the resolution with all the members of the Supervisory Board. With the surnames, you can see all the positions, the president, vice president, secretary respectively, and the member. Let's get the system ready. Let's start the voting. As I understand, everybody had a chance to cast their vote. Thank you so much. This was our last voting session for the day. The very last chance to cast your vote today. Let me close it. Let's present the results. Is there anybody here who wishes to become familiar with all the materials when it comes to the assessment of collective adequacy? They are here available to you. Well, no enthusiasm, really. I can't see anybody enthusiastic enough. Thank you so much.
I declare the resolution as proposed to be adopted by the identical majority, 124,829,688 votes for, 27,150,595 votes against, abstentions, that's 25,122,343 votes, which means that the resolution has been adopted by the General Meeting, which means that we have closed point 17 of the agenda. This was our ordinary meeting. Once again, I would like to congratulate to all the members of the Supervisory Board and the Management Board on the granted discharge, both personally as well when it comes to the performance of the entire company, when it comes to financial reporting, managerial and executive documents. All the documents have been adopted and the General Meeting shares the view of the management on all the matters regarding concluding and closing the year, including the distribution of profits and the dividends. Congratulations.
I would like to acknowledge all the shareholders and their plenipotentiaries and representatives for their participation in the meeting today. On my part, I would like to say that if it took too long, if I failed to do something in the right manner, let me apologize. It was not on purpose. I would like to acknowledge Mr. Notary as well. We are going to proceed on the notary act that will be drawn up in the aftermath of the meeting today. This will be the basis for the right entry to the National Court Register. I would like to acknowledge the technical service, all the lawyers, interpreters, everybody who took part in the meeting, which is also a celebration of our company. The General Meeting. Thank you so much. Right now, I hereby would like to close the ordinary General Meeting. See you soon