Image: Capital Park

ArtN project with bank financing, set to be launched soon

A subsidiary of investor and developer Capital Park has secured €159.3 million in bank financing from Bank Pekao, which it will use to finance the construction of its planned ArtN mixed-use project in Warsaw. The company plans to launch construction work on the scheme later this month and finish it ...

Locked content Dino Q3 profit up by 22.3%

WSE-listed retailer Dino increased its Q3 net profit by 22.3 percent y/y to PLN 63.54 million, the company said in a market filing. Revenues amounted to PLN 1.22 billion, up 33.1 percent y/y, while operating profit stood at PLN 86.4 million, a 45.5 percent y/y increase. Like-for-like sales increased...

Locked content Comarch snatches flagship ZUS contract from Asseco

WSE-listed IT firm Comarch has won the tender for maintenance of social security ZUS’s core KSI IT system. The winning offer was PLN 242 million, while the creator and current maintainer WSE-listed Asseco bid PLN 374 million. The contract will run for four years. “I strongly underline that we ...

Locked content Morawiecki: OFE reform in 1-2 years

According to Deputy PM Mateusz Morawiecki, the long-planned reform of the Open Pension Funds (OFE) should be implemented within the next 1-2 years. “We want to sort of privatize OFEs, the part with equities would be transferred to Individual Pension Accounts (IKE), while corporate bonds business wou...

Locked content mBank not interested in Deutsche Bank Polish assets – CEO

According to the CEO of mBank, Cezary Stypułkowski, the WSE-listed lender is not interested anymore in acquiring Deutsche Bank Polska. He added that the potential takeover of Idea Bank is also off the table. “When it comes to business model, Idea Bank is not a right fit for us,” he explained, adding...

Locked content LPP plans PLN 1.5 bln CAPEX by 2020

WSE-listed fashion retailer LPP has sustained its CAPEX forecast at PLN 1.5 billion until 2020, the company’s Deputy President Przemysław Lutkiewicz told the ISBnews press agency. The funds will be spent on both new locations and refurbishing the existing ones. He also added that the company’s first...

Locked content Poles less happy about current situation in the country – CBOS poll

In November, the percentage of people assessing that the situation in Poland is going in the right direction has fallen to 44 percent from the previous result of 49 percent, while the number of respondents claiming that it’s going in the wrong direction has increased by 4 percentage points to 40 per...

Locked content Fasing with €30 mln investment deal in Vietnam

WSE-listed chains producer Fasing has signed a preliminary investment deal with Vietnamese Tien Lam to set up a local facility worth €30 million, the company said in a market filing. “The parties intend to set up a joint stock company in an industrial complex in My An, Bac Giang Province,” the compa...

Locked content Orlen to issue PLN 1 bln worth of bonds

WSE-listed fuel giant Orlen has decided to issue B-series bonds worth PLN 1 billion under its ongoing program addressed to retail investors, the company said in a market filing. The bonds will be issued in several tranches within the 12 months after the approval of the program. Details of the issuan...

Small rate hike possible in early 2018 – RPP Member

Łukasz Hardt, member of the Poland’s Monetary Policy Council RPP said that a small interest rates hike might be possible early next year if inflation continues to be nearing its 2.5 percent target. “The fact that at the conference after the November RPP meeting I said that it is too early to increas...