PKO Bank Polski (PKO.WA)：第29届欧洲金融会议-要点总结

Presenters: Krzysztof Dresler (CFO), Piotr Bujak (Chief Economist), Dariusz Chorylo (Head of Investor Relations). Bottom Line: Management discussed (1) resilient NII and ROE outlook (the company reiterated ROE expectation for >18% in medium-term), (2) macro outlook (both from fiscal and monetary part), (3) regulatory updates and (4) outlook on CHF mortgages (where the company expects 2025 to be the last year of material CHF provisions). Key Takeaways Macro and Banking Sector Outlook: In the near term, the company anticipates a more expansionary fiscal policy from the ruling party, which is expected to stimulate economic and lending growth in the banking sector. Additionally, the company continues to expect a significant boost to corporate lending from the disbursement of European Union funds allocated to energy transition and related infrastructure projects. The approaching two-year deadlines for the utilization of these funds are expected to intensify focus and execution on these inve