Locked content BZ WBK confirms 2017 profit at PLN 2.21 bln

WSE-listed lender BZ WBK had a PLN 2.21 billion net profit last year, confirming its previous estimates. The result was 2.1 percent higher y/y. Net interest income amounted to PLN 5.27 billion up by 10.6 percent y/y while net fees and commissions income reached PLN 2.01 billion, up by 5.1 percent y/...

Locked content PGNiG Q4 net profit drops

WSE-listed gas giant PGNiG had PLN 430 million net profit in Q4, down from PLN 720 million profit a year ago, according to the company’s preliminary figures. Revenues amounted to PLN 10.97 billion, compared to PLN 10.15 billion last year, while the adjusted EBITDA stood at PLN 1.84 billion, slightly...

Residential real estate prices grew in Q4 – NBP

Residential real estate prices in Poland’s seven biggest cities on the primary market increased in Q4 in y/y terms but dropped q/q, central bank NBP data showed. At end-Q4 2017, the average price of sqm on the primary market amounted to PLN 7,112, while in Q4 2016 it stood at PLN 6,800, while ...

Locked content KNF: Banking sector profit drops 2.3% in 2017

The banking sector recorded an aggregated net profit of PLN 13.6billion last year, according to data from the Financial Supervision Authority (KNF), representing a 2.3 percent decline y/y. Net income from banking activity stood at PLN 61.76 billion and increased by 4.1 percent y/y. Banks’ net intere...

Locked content Investment funds with PLN 2.5 bln in inflows in January

Poland’s investment funds recorded net inflows of PLN 2.5 billion in January, a report by asset management lobby IZFiA showed. This was the best January result in a decade. Cash and money funds recorded PLN 1.5 billion inflows, with mixed funds in a distant second at PLN 390 million inflows. D...

Locked content FX mortgage relief bill approved by the government

The government has approved the presidential bill aimed to help those with FX mortgages (mostly in Swiss Francs) and the appropriate parliamentary commission will continue working on it in late February or early March. “We positively assess the draft law, aimed at developing a mechanism for providin...

Budimex appointed as Monopolis project contractor in Łódź

Developer Virako has selected builder Budimex as the general contractor of the first phase of its planned Monopolis mixed-use project in downtown Łódź, which will involve the revitalization and redevelopment of a historic post-industrial site that previously housed a vodka distillery. Construction w...

Locked content Budimex wins PLN 484 mln tender for S61 road

WSE-listed construction firm Budimex won a PLN 484.3 million net tender for building a section of S61 expressway, General Director for National Roads and Motorways GDDKiA announced. Budimex will build a 20 kilometer-long section of the road connecting Wysokie with Raczki in the Warmińsko-Mazurskie v...

Locked content Tarczyński hikes tender price

The main shareholders of WSE-listed meat processor Tarczyński, Elżbieta and Jacek Tarczyński raised the price offered for the company’s shares to PLN 12.6 apiece from the previous PLN 10.5. Tarczyńscy through its subsidiary EJT Investment wants to buy 6 million shares representing 41.8 percent stake...

Locked content PGNiG mulls takeover in Norway. No plans to sell Termika

WSE-listed gas giant PGNiG is considering acquiring production assets in Norway this year.” The talks in this matter have been ongoing for two years now. We are not in a hurry,” company’s CEO Piotr Wożniak said. He stressed that the company is primarily interested in gas deposits, rather than crude ...