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21.1 Accounting policy

Annual Report 2018 > RESULTS 2018 > Supplementary Information and Notes > 21. Administrative expenses > 21.1 Accounting policy
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Administrative expenses include, among others:

  • In insurance activity – insurance activity expenses not classified as acquisition expenses, related to premium collection, expenses related to management of the insurance contracts portfolio, reinsurance contracts portfolio and to overall management of PZU Group’s insurance companies;
  • In banking activity – bank’s operating expenses, including employee, material costs, depreciation, taxes and charges.
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