Locked content KNF: banking sector net profit up 8.7% y/y in Jan.-Oct.

Poland’s banking sector net profit in January-October amounted to PLN 12.7 billion, an increase of 8.7 percent y/y, Polish Financial Supervision Authority (KNF) reported. Net interest income increased to PLN 38.12 billion compared to PLN 35.22 billion in January-October 2017. Commissions income decr...

13.5 mln visitors came to Kraków in 2018

13.5 million people visited Kraków in 2018, according to Malopolska Tourist Organization. This is an increase of 600,000 compared to the previous year. During their stay, the guests spent a total of PLN 6.45 billion. The city registered 10.4 million domestic tourists and 3.1 million foreigners this ...

Locked content EU extends sanctions against Russia

On Thursday European Union leaders agreed to prolong economic sanctions against Russia. The measures targeting Russia’s economy were due to expire next month. However, their extension depends on whether EU considers that Russia is respecting the Minsk peace agreement sealed in 2015. “EU unanimously ...

Locked content Getin Noble Bank wants to find financial investor

The board of Getin Noble Bank decided to start looking for an investor, who would recapitalize the bank, Getin Noble said in a statement. It may be that the merger with Idea Bank will occur before the investor is acquired. In this case, the recapitalization would be provided for the new entity. Invi...

Locked content Lewiatan: 18% of firms plan more investments in 2019

Almost every fifth company in Poland (18 percent) plans higher investments in 2019 compared to the current year. Slightly less than a half – 44 percent expect the 2019 investments at the same level as in 2018, while 12 percent plan to cut investments next year. 27 percent of companies do not p...

Locked content European Central Bank leaves interest rates unchanged

On Thursday European Central Bank (ECB) decided that the interest rate on the main refinancing operations will remain unchanged at 0.00 percent. Interest rates on the marginal lending facility and the deposit facility will also stay unchanged at 0.25 percent and -0.40 percent respectively. The Gover...

Locked content CBOS: trust to KNF and NBP declines

The perception of the National Bank of Poland (NBP) activity is still positive but is notably worse than three months ago. The change of attitude regarding NBP may be related to a scandal involving the Financial Supervision Authority (KNF), according to a pollster CBOS. 42 percent of respondents eva...

Orange takes up 4,000 sqm at Ogrodowa Office in Łódź

Telecom operator Orange Polska has leased over 4,000 sqm at the Ogrodowa Office building in downtown Łódź with the transaction having been brokered by CBRE. The tenant will move into its new premises in Q2 2019. Completed by developer Warimpex in the third quarter of this year, the Ogrodowa Office b...

Locked content Ten Square Games signs distribution deal with Chinese NetEase

Ten Square Games signed an agreement with NetEase for distribution of Fishing Clash game on the Chinese market. The agreement grants NetEase the right to distribute, market and promote the Fishing Clash game in China excluding Hong Kong, Macau, and Taiwan. “The agreement with NetEase is the fi...

Locked content TIM announces mandatory squeeze-out of Rotopino.pl shares

TIM announced mandatory squeeze-out of 87,249 Rotopino.pl shares equal to 0.87 percent of stake. The offered price is PLN 3.3 per share, TIM said. Currently, TIM holds 9.9 million shares in Rotopino.pl or 99.13 percent of the share capital. The mandatory squeeze-out was set to start on December 13. ...