52. Fiduciary activities

The parent is a direct participant in the Central Securities Depository of Poland (Krajowy Depozyt Papierów Wartościowych) and the Securities Register (at the National Bank of Poland). The parent maintains securities accounts and handles transactions on the domestic and foreign markets, provides fiduciary services and performs depository role for pension and investment funds. Assets held by the parent as part of providing fiduciary services have not been disclosed in these financial statements since they do not meet the definition of the parent’s assets.