Locked content Investment funds AuM down in September

Poland’s investment funds assets under management (AuM) dropped by 2.1 percent in September to PLN 275.3 billion, a report by asset management lobby IZFiA showed. The only type of funds that recorded inflows last month were securitization ones which expanded by 1 percent to PLN 4.6 billion and...

Locked content Duda appoints new Supreme Court judges ignoring court decision

President Andrzej Duda appointed on Wednesday 27 new judges to the Supreme Court despite the court’s ruling to suspend the procedure until the European Court of Justice verdict in that matter. “This is another stage of the judiciary reform that has been carried out, a very important one. It is, rest...

Locked content Poland 30th in the World Bank’s Human Capital ranking

Poland ranked 30th out of 157 countries ranked in the first-ever World Bank’s Human Capital Index. On a scale of 0 to 1, Poland had 0.75 points. Singapore had the best score (0.88) followed by South Korea and Japan (both had 0.84 points). Last on the list were Mali, Liberia, and Nigeria. The ranking...

MF sells PLN 984 mln retail bonds in September

The Ministry of Finance sold retail bonds worth PLN 984 million in September compared to PLN 1.04 billion in August. So far this year nearly PLN 9 billion worth of retail bonds have been sold  According to FinMin the three-month saving bonds were the most popular last month and accounted for roughly...

Locked content Standard Chartered opens its Warsaw office

Global multinational banking and financial services company Standard Chartered has opened its first global center in Poland, which is also the only such facility that the firm operates outside Asia. Polish office will manage “complex, large-scale, cross-border activities including technology and fin...

Locked content Benefit System increase stake in gym chain

WSE-listed employee benefits program operator Benefit System acquired 22.5 percent shares in gym network Fit Fabric for PLN 9.5 million increasing its stake to 52.5 percent,  the company said in a market filing. According to the deal, Benefit will acquire the remaining shares no later than end-July ...

Locked content PKO BP with PLN 1.5 bln leasing deal with EIF

WSE-listed lender PKO BP signed a contract with the European Investment Fund (EIF) to provide leases and loans worth PLN 1.5 billion to 10k Polish SMEs with EI direct guarantees. The offer will be valid till October-2020 and the maximum amount of a loan or a lease is PLN 1.5 million. “Thanks to the ...

Locked content OFEs average 3-year return rate at 18.82%

Private pension funds OFE achieved 18.82 percent weighted average rate of return in the three-year period ending September 28, 2018, financial market regulator KNF said. The best performer was OFE PZU Złota Jesień with 20.97 percent return rate, closely followed by MetLife OFE  (20.91 percent), and ...

Locked content PSG to invest PLN 7.5 bln on gas network

Polska Spółka Gazownictwa, a subsidiary of state-controlled, WSE-listed PGNiG will invest up to PLN 7.5 billion by 2022 to expand its gas network and reach 300 new municipalities, the company said in a market filing. PM Mateusz Morawiecki announced on Thursday that gasification will be carried out i...

Locked content Poland plans to create state investment fund to finance takeovers

The Polish government wants to establish the Capital Investment Fund (FIK) that will be financed with a share of 30 percent of dividends from state firms and that will finance the Treasury’s investments in acquiring private enterprises according to a draft bill. “In relation to the need of a stable ...