Locked content KGHM Q3 profit drops

WSE-listed copper and silver giant KGHM posted a PLN 604 million net profit in Q2, down by 63 percent y/y. Revenues amounted to PLN 4.77 billion, up from PLN 4.68 billion last year. EBITDA grew by 29.8 percent to PLN 1.41 billion. “”Despite the relatively small increase in revenue due to the n...

ZUS: 70% new pension application filed so far

As many as 283k pension applications have been filed so far to the Social Security fund (ZUS), representing 70 percent of all people entitled to retire earlier, after Poland lowered its retirement age. As many as 410k people have the right to do so until the end of this year.

Locked content UOKiK extends Bytom-Vistula merger proceedings

The antitrust watchdog UOKiK has extended antimonopoly proceedings on the merger of clothing retailers Vistula and Bytom by 4 months. The case has been entered into the second phase of the proceedings, reserved for more complicated cases. UOKiK now can conduct, among others, market analysis. The mer...

Locked content Poland to extend the de minimis credit guarantee program

The Ministry of Finance wants to extend the de minimis credit-guarantee program until mid-2018. “The extension of the de minimis guarantee offer until 30 June 2018 will continue to make it easier for SMEs to get access to debt financing which in return will boost the economy,” the ministry said. The...
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GDP growth at 4.7% in Q3 – flash estimate

Poland’s gross domestic product grew by 4.7 percent year-on-year in the third quarter of 2017, according to a flash estimate published by the Central Statistical Office (GUS). The quarter-to-quarter growth was at 1.1 percent. GUS also revised the Q2 growth to 4 percent from the previous 3.9 percent....

Base inflation at 0.8% in October – NBP

Poland’s base inflation (excluding food and energy prices) amounted to 0.8 percent in October y/y. In m/m terms it dropped by 0.2 percentage points, according to data released by Poland’s Central Bank NBP.

Locked content Raiffeisen Polbank Q3 profit way down

Raiffeisen Polbank, had a PLN 26.6 million attributable net profit at the end of Q3, down by 76 percent, the bank said in a market filing. Net interest income amounted to PLN 831.7 million, compared to PLN 752.91 million the year before while net fee income inched down by 1 percent to PLN 438.1 mill...

Locked content Bank Handlowy Q3 profit grows

WSE-listed lender Bank Handlowy recorded PLN 171.57 million net profit in Q2, up by 18.4 percent y/y. Net interest income amounted to PLN 273.5 million against PLN 247.3 million a year earlier. Net fee and commission income amounted to PLN 146.2 million compared to PLN 144.5 million a year earlier. ...

Locked content Play with PLN 187 mln Q3 net profit

WSE-listed telecom operator Play Communications recorded a consolidated net profit of PLN 186.9 million in Q3 vs. PLN 386.4  million profit a year earlier. Operating profit was slightly down to PLN 311.3 million vs. PLN 314.4 million the year earlier. Adjusted EBITDA increased 9.3 percent y/y to PLN...