Remuneration policy in PKO Bank Polski SA

The basic internal regulation regard of remuneration policy is the Collective Labour Agreement (‘Zakładowy Układ Zbiorowy Pracy’ - ZUZP) concluded with the company trade union organisations on 28 March 1994 (with subsequent amendments), under which employees of the Bank receive the following remuneration components:

  • the base remuneration,
  • additional remuneration for working overtime, as well as under conditions which are especially onerous and detrimental to health, and in addition, based on the separate resolutions passed by the Management Board of the Bank as a result of a recommendation of ZUZP in consultation with the trade union organisations, bonuses and awards for special achievements in work.

Base salaries and additional benefits granted to employees are formed on the basis of job grading (grading categories assigned to specific organisational positions) and analysis of market remuneration in the banking sector.

The principles of the remuneration of members of the Companies’ Management Boards of set out in the employment Standards of the members of the Management Boards of the PKO Bank Polski SA Group entities. Moreover the principles of the remuneration are set out in rules of remuneration and in employment contracts or only in employment contracts. In addition, the Collective agreement concluded with Committee of Trade Union in 2003 is operating in KREDOBANK SA.