Locked content Polish entrepreneurs generate over 1/3 of GDP

Polish entrepreneurs generate over 1/3 of GDP in Poland. They are the most important employer in the country and invest more than international corporations according to the report “Przedsiębiorca odczarowany. Kim są twórcy polskiej gospodarki” (Eng. “Entrepreneur unbound. Who are ...

Locked content LPP sees 2018 capex at PLN 520 mln

WSE-listed fashion retailer LPP plans increasing capex by 18 percent in 2018 to PLN 520 million. The company also plans to expand the area of the stores by 11 percent. “Our goal is to gradually increase the average area of stores of all brands to make room for more and more extensive collectio...

Locked content MPiT proposes a new company format

The Ministry of Enterprise and Technology (MPiT) proposes the introduction of a new format of establishing a company – a simple joint-stock company. A simple joint-stock company should be a modern private company adapted to the contemporary economy. It is supposed to combine the limited liabil...

Bank BGŻ BNP Paribas targets ROE at more than 10%

WSE-listed lender BGŻ BNP Paribas approved the new strategy for 2018-2022.  The bank plans to have the growth rate of banking activities faster than the market. BGŻ targets ROE above 10 percent and C/I ratio at around 50 percent.

Locked content Getin Noble Bank Q1 net loss narrows to PLN 47.7 mln

WSE-listed Getin Noble Bank recorded Q1 consolidated net loss of PLN 47.7 million compared to PLN 96.6 million a year ago. Net interest income amounted to PLN 296.9 million versus PLN 328.8 million in Q1 2017. Tier 1 capital ratio at the end of March was 9.4 percent. The bank reported a 2.4 percent ...

Locked content Sales in small stores up 2.4% in April

Sales in small-format store in Poland increased by 2.4 percent y/y. On monthly basis, a decline of 4.7 percent was registered, a market research company CMR said. A month-on-month decline is caused by Easter, which was celebrated in the beginning of April. Therefore, there was an increase in sales i...

Locked content PBKM subsidiary buys Biocell Lugano

Famicord, a subsidiary of Polish stem cell bank PBKM, acquired 100 percent of shares in Biocell Lugano, PBKM said in a statement. The maximum price is set at €1.6 million (PLN 6.9 million). Under the agreement, the payment will be executed in three tranches of PLN 0.25 million, PLN 0.75 million and ...

Adagio-branded aparthotel to open in Kraków in 2021

Warsaw Stock Exchange-listed hospitality company Orbis Hotel Group, which is majority-owned by AccorHotels, has signed a 20-year management contract regarding the opening of the first Adagio-branded aparthotel in Kraków. The project will offer 190 rooms and is expected to welcome first guests in lat...

Dom Development Construction with PLN 353-million contract

Warsaw Stock Exchange-listed developer Dom Development has contracted its newly created subsidiary Dom Development Construction to build the planned Żoliborz Artystyczny II residential project in the Polish capital. The value of the agreement amounts to over PLN 353.1 million. This is the first cont...

Cornerstone laid for Silesia Outlet project in Gliwice

Investor 6B47 Poland has held a cornerstone-laying ceremony at the construction site of its Silesia Outlet retail project in Gliwice. The scheme will be developed in two phases and will comprise a total of almost 20,000 sqm of leasable space. The first phase of the development will deliver 12,000 sq...