Locked content Insolvencies up by 13% in August – Euler Hermes

As many as 90 companies became insolvent in August, which is a 13 percent y/y increase, Euler Hermes said. Since the beginning of the year, 670 firms became insolvent, which is 13 percent more than in the corresponding period of last year. “It can be clearly seen that in the vast majority of cases, ...

Locked content Banks paid PLN 1.86 bln in H1 – KNF

The value of the banking tax paid by lenders in H1 amounted to PLN 1.86 billion, the Financial Supervision Authority said. This is PLN 68.7 million more than last year. The banks assets at end-June amounted to PLN 861.9 billion while their profit stood at PLN 7.84 billion, up by 17 percent. In the f...

Pengab banking sentiment inches up in September

The Pengab index, which measures conditions in the banking industry, increased by 0.1  points month-to-month to 26.6 points in September, according to the Monitor Bankowy report issued by Kantar TNS.  Last year, the indicator stood at 25.4 points.

NBP: loans and mortgages up in August

The value of consumer credits grew by 0.8 percent or PLN 1.56 billion in August month-on-month and reached PLN 185.7 billion, Poland’s Central Bank (NBP) announced.

Locked content PGZ with new CEO

State-owned defense group Polska Grupa Zbrojeniowa (PGZ)  appointed Witold Słowik as its CEO, the company said. Back in the early 90s, Słowik was one of the co-founders of the clearinghouse KWDP, he also worked with former President Lech Kaczyński. Recently he worked in the ministry of development a...

Locked content EU sues Poland over judiciary overhaul

The European Commission has sued the Polish government over its judiciary overhaul. “The European Commission maintains that the Polish law on the Supreme Court is incompatible with EU law as it undermines the principle of judicial independence, including the irremovability of judges,” the Commission...

Locked content Introl to buy back up to 500k own shares

WSE-listed Introl announced a buyback program to purchase up to 500k of its own shares at PLN 4 apiece, the company said in a market filing. Introl plans to redeem the shares. The subscription will run through October 1-12, with the planned purchase date set for October 19. At the beginning of Septe...

Locked content Foreigners spent PLN 21 bln in Poland in H1

Foreign nationals spent some PLN 21.1 billion in H1 in Poland on goods and services, data from the Central Statistics Office (GUS) showed. In comparison, Poles spent PLN 9.3 billion during their visits abroad. Both figures represent 3.9 and 4.9 percent increase y/y respectively. In Q2 alone, foreign...

Locked content ZBP: 36.5 mln e-banking users at end-Q2

Polish banks had 36.5 million clients with access to digital banking services at end-Q2, according to a report from market lobby ZBP. The figure was higher by 5.5 percent y/y. At the same time, the number of active clients of such services increased by 6.4 percent to 16.79 million. Poles are also mo...

Locked content PlayWay with PLN 15.5 mln Q2 profit

WSE-listed game developer PlayWay recorded PLN 15.55 million net profit in Q2 compared with PLN 1.24 million profit a year earlier, the company said in a market filing. Operating profit amounted to PLN 18.75 million compared to PLN 2.3 million profit a year earlier. At the same time revenues stood a...