Locked content ING secures KNF approval to set up mortgage unit

The Financial Supervision Authority KNF approved the ING Bank Ślaski motion to set up a mortgage bank. The decision was unanimous with KNF approving the new unit’s management board as well. Mirosław Boda was appointed its CEO. In accordance with the approved bank statute, the subject of activity of ...

Locked content Play signs call option deal for Virgin Mobile Polska

WSE-listed mobile operator Play signed a call option agreement to buy Poland’s biggest mobile virtual network operator (MVNO) Virgin Mobile Polska in 2020, the company said in a market filing. “These agreements give Play, among others, a call option to acquire all shares in VMP during 2020 at ...

Locked content Synthos announces mandatory squeeze out

WSE-listed chemical firm Synthos announced the mandatory squeeze out of the remaining 6.1 percent shares still in freefloat at PLN 4.93 apiece. The squeeze out will be conducted on January 19,  while trading of the company’s stock on the Warsaw Stock Exchange will be suspended on January 16. Back in...

Locked content KNF blocks Raiffeisen’s attempt to launch new bank

The Financial Supervision Authority KNF unanimously voted against granting Raiffeisen Bank approval to set up a new bank. KNF explained that under the Polish banking law, it can’t approve setting up a new banking unit by a lender that failed to meet all the criteria set up when the unit was being es...

OECD CLI for Poland inches down in November

The Composite Leading Indicator (CLI) for Poland decreased by 0.02 percentage points m/m in November to 99.34 points. In y/y terms, the indicator decreased by 0.96 pps, according to OECD data.

Retail bond sales reach PLN 6.9 bln in 2017 – FinMin

The Ministry of Finance sold PLN 6.86 billion retail bonds last year, which is the best result in a decade, the office informed. The most popular were papers maturing in two years (PLN 2.95 billion), followed 4-year bonds (PLN 2.45 billion). Overall, the ministry offered papers maturing between thre...

Locked content PKP 2017 net profit to exceed PLN 500 mln – CEO

The consolidated net profit of the state-owned railway group PKP for 2017 will exceed PLN 500 million, company’s CEO Krzysztof Mamiński said. “Based on the expected net results achieved by our companies, the total amount should exceed PLN 500 million, making it the most profitable year in our histor...
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Report: 25% of companies will invest in work automation

As many as 25 percent of companies plan to invest in work automation and replace some of their employees with machines or robots, while 60 percent do not plan such actions, according to the latest Work Service survey. As experts point out, in the coming years’ staff shortages will be covered b...