26.3.2 Deposits, cash and cash equivalents
The Group manages credit risk related to cash and cash equivalents by diversification of banks in which surpluses of cash are allocated. All entities with which PGE Group concludes deposit transactions with operate in the financial sector. These are exclusively banks incorporated in Poland or operating in Poland in the form of branches of foreign banks, with a rating of at least investment grade, with an adequate solvency ratio and equity, and with a strong and stable market position. The share of the three major banks in which PGE Group has allocated the most significant cash balances as at December 31, 2022, accounted for approximately 72% (82% in the comparative period).