9. Capital management

On 26 August 2013, the Management Board and the Supervisory Board adopted the capital policy and dividend policy for PZU Group for the years 2013–2015. Assumptions of the capital policy and dividend policy are presented below.

PZU Group intends to make changes in its capital policy and dividend policy aimed at addressing the requirements of Solvency II.

Due to a short period of time which passed between the date of taking control over Alior Bank (18 December 2015) and the date of publication of the consolidated financial statement, from the day of acquiring control by PZU Group to the date of publishing consolidated financial statements, equity management in Alior Bank was performed separately from equity management in other entities within PZU Group. Nevertheless, PZU Group may monitor equity management system at Alior Bank through the members of the supervisory board designated by PZU.

Section consists:

9.1 Capital policy

9.2 Dividend policy

9.3 Equity management in Alior Bank

9.4 External capital requirements