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 ...

Locked content Pension funds won’t sell Polenergia stock in tender offer

A number of pension funds (Generali OFE, NN OFE, and Aviva OFE) announced that they will not be selling their shares in WSE-listed power utility Polenergia in a tender offer by Dominika Kulczyk and Mansa Investments. The three entities control 19.9 percent of the company’s stake. The funds deem the ...

Locked content Tauron and Orlen to build powerplant in Czechia

WSE-listed power utility Tauron and fuel giant Orlen signed a letter of intent to build a power and heating plant in Czech Neratovice on Orlen’s premises. The unit would provide the refiner’s subsidiary Spolana with technological steam. “State-run companies should cooperate with each other and suppo...

Locked content Baltic Pipe works according to schedule – Naimski

Works on the Baltic Pipe gas pipeline are being implemented according to the schedule, and its physical construction will start in the spring of 2020 and will last two years, the government plenipotentiary for strategic energy infrastructure Piotr Naimski said “We are carrying out investments relate...

Locked content Mastercard: Tourist to spend over PLN 3 bln in Warsaw this year

According to card issuer Mastercard, foreign tourist will spend over PLN 3 billion in Warsaw this year. Polish capital was the only domestic city in this years’ Global Destinations City Index report. This is 18.2 percent more than last year. Last year, Warsaw was visited by 1.4 million foreign touri...

Locked content Banking sector profit inches up in August – NBP

Poland’s banking sector recorded an aggregated net profit of PLN 1.31 billion in  August, according to data from Poland’s Central Bank (NBP), representing a 1.9 percent growth m/m. At end-August, the sector had PLN 10.43 billion net profit, the y/y change is not available due to a change in methodol...