Pekao Bail-in-able programme

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

EBRD invested EUR 30 million under the Project in Pekao S.A.'s EUR 500 million 11NC6 T2 bonds. The bonds were issued in Sustainable Bonds format, marking the debut, in line with Pekao's Sustainable Bond Framework . The bonds are listed on Luxemburg Stock Exchange.

Project ID 57170

Status Signed

Location

Poland

Industry Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Pawel Bernat
pawel.bernat@pekao.com.pl
+48887217541
www.pekao.com.pl
Bank Pekao SA Centrala Press Office ul. Zubra 1 01 066 Warszawa

Project ID 57170

Status Signed

Location

Poland

Industry Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

29 Apr 2026

Disclosure date

24 Jul 2026

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project Description

Project Objectives

Project objectives include: (i) scaling up finance for a) sustainable green investments, accelerating country's green transition and b) SMEs in underdeveloped regions of Poland, improving access to finance to underserved SME segment; as well as (ii) supporting capital markets development in Poland, with particular focus on local capital market, facilitating local issuances and dual listings, including still evolving labelled bonds by Polish issuers.

Transition Impact

ETI score: 62

The expected transition impact of the project stems from its contribution to Green, Inclusive and Resilient transition qualities.

The Project will support the Bank's Green Economy Transition (GET) priority in Poland through Pekao's commitment to allocate an equivalent of 120% of EBRD's investments in Regular Bonds to GET-eligible projects.

Under the Inclusive transition quality, Pekao will aim to allocate an equivalent of 80% of EBRD's investments in Regular Bonds towards eligible social sub-projects, specifically targeting financing SMEs in underdeveloped regions.

Under the Project, Pekao will also issue Green, Social or Sustainability Bonds in line with its Sustainable Finance Framework further enhancing the green and/or social impact.

Under the Resilient transition quality, the Project investment in MREL eligible instruments will contribute to: (i) capital market development, facilitating local issuances and dual listings, and expanding overall market for bail-in-able and labelled bonds out of Poland; and thereby (ii) the resilience of Pekao, through enhancing its loss absorption and lending capacity, ensuring continued lending to the real economy, including green and social financing;

Client Information

BANK POLSKA KASA OPIEKI SA (BANK PEKAO)

Bank Pekao S.A. is the second-largest financial group in Poland, accounting for 10% of the sector's total assets and ca. 11% of the sector's loan portfolio as of YE2025. Pekao Group has a strong credit profile, with a credit rating of A- (stable) from S&P; A2 from Moody's (negative) and BBB+ (stable) from Fitch. The bank operates through 550 branch network. The bank is listed on the Warsaw Stock Exchange.

EBRD Finance Summary

EUR 30 million

Total Project Cost

EUR 500 million

Additionality

The Project exhibits strong additionality by enhancing access to capital market in the times of elevated geopolitical risks and heightened market volatility both internationally and locally, uncertain investor appetite and a shallow local capital market. EBRD's participation as a stable and reputable investor will be instrumental in supporting uninterrupted market access.

Company Contact Information

Pawel Bernat
pawel.bernat@pekao.com.pl
+48887217541
www.pekao.com.pl
Bank Pekao SA Centrala Press Office ul. Zubra 1 01 066 Warszawa

PSD Last Updated

24 Jul 2026

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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Pekao Bail-in-able programme

Overview

Project timeline

Company Contact Information

Project Description

Project Objectives

Transition Impact

Client Information

EBRD Finance Summary

Total Project Cost

Additionality

Company Contact Information

PSD Last Updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)

Pekao Bail-in-able programme

Overview

Company Contact Information

Project Description

Project Objectives

Transition Impact

Client Information

EBRD Finance Summary

Total Project Cost

Additionality

Environmental and Social Summary

Company Contact Information

PSD Last Updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)