Locked content Alior profit up. No acquisitions planned

WSE-listed Alior Bank, owned by state-controlled insurer PZU, had PLN 618.28 million net profit in 2016 (PLN 369 million in Q4), up from PLN 309.65 million in 2015. According to the financial report, the results from 2016 and the year before are hard to compare due to a number of one-off factors, su...

Locked content Węglokoks won’t partake in the PGG-KHW merger – Tchórzewsk...

Coal trader Węglokoks, which has a 25 percent stake in mining group PGG, will not be an equity investor in the KHW-PGG merger, Energy Minister Krzysztof Tchórzewski said. “Weglokoks will not be an investor in this restructuring as it has tasks related to the restructuring of the steel-works segment,...

Locked content Poland annuls VIP planes tender

The Ministry of Defence has rejected the two bids for the supply of three mid-sized planes for government officials, due to formal and financial issues. Back in February, Poland launched a tender for three mid-sized planes for its officials. One used and two brand new and invited Boeing and Lufthans...

Locked content Benefit Systems Q4 profit beats expectations

WSE-listed provider of employee benefit schemes Benefit Systems posted attributable net profit of PLN 28 million in Q4 2016 versus PLN 18.8 million predicted by analysts polled by the Polish Press Agency (PAP). In 2016, Benefit had PLN 82.7 million net profit, up from PLN 49.09 million in 2015. EBID...

Locked content KNF should merge with NBP – Chrzanowski

President of the financial market regulator KNF Marek Chrzanowski said that his organization should be merged with the Poland’s Central Bank (NBP). According to him, both institutions would profit from such merger as KNF oversees micro-prudential factors, while NBP is a macro-prudential superv...

Locked content Polish banking sector stable – KNF head

The Polish banking sector is stable and solvent, with major challenges ahead including the FX loan conversion bill, financial market watchdog KNF President Marek Chrzanowski said during a public finance committee sitting. “The banking sector is liquid, stable and solvent,” Chrzanowski said. “The div...