Adjustment related to the initial value of selected fixed assets

25 October 2016

Bank BPH S.A. (the 'Bank') announces it conducted inventory of source documents related to the fixed assets in order to verify correctness of tax depreciation. The outcome of this process showed that in respect to the selected fixed assets, especially those commissioned before 2004, it could be difficult or sometimes unable to document their initial value for tax purposes. As a result, the Bank's Management Board on 25 October 2016 decided to adjust depreciation write-offs on these fixed assets which were recognized as tax-deductible by the Bank and recognize the deferred tax liability. It will cause the decrease of the Bank's results in the amount of PLN 28.9 million. This sum will be reflected in the Bank's financial statements for 3Q 2016.

Legal basis: Art. 17 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC.

Bank BPH SA published this content on 25 October 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 25 October 2016 11:17:05 UTC.

Original documenthttp://www.bph.pl/pl/investor_relations/announcements/2016/announcement_47_2016

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