Locked content Comarch snatches flagship ZUS contract from Asseco

WSE-listed IT firm Comarch has won the tender for maintenance of social security ZUS’s core KSI IT system. The winning offer was PLN 242 million, while the creator and current maintainer WSE-listed Asseco bid PLN 374 million. The contract will run for four years. “I strongly underline that we ...

Locked content Morawiecki: OFE reform in 1-2 years

According to Deputy PM Mateusz Morawiecki, the long-planned reform of the Open Pension Funds (OFE) should be implemented within the next 1-2 years. “We want to sort of privatize OFEs, the part with equities would be transferred to Individual Pension Accounts (IKE), while corporate bonds business wou...

Locked content mBank not interested in Deutsche Bank Polish assets – CEO

According to the CEO of mBank, Cezary Stypułkowski, the WSE-listed lender is not interested anymore in acquiring Deutsche Bank Polska. He added that the potential takeover of Idea Bank is also off the table. “When it comes to business model, Idea Bank is not a right fit for us,” he explained, adding...

Locked content LPP plans PLN 1.5 bln CAPEX by 2020

WSE-listed fashion retailer LPP has sustained its CAPEX forecast at PLN 1.5 billion until 2020, the company’s Deputy President Przemysław Lutkiewicz told the ISBnews press agency. The funds will be spent on both new locations and refurbishing the existing ones. He also added that the company’s first...

Locked content Poles less happy about current situation in the country – CBOS poll

In November, the percentage of people assessing that the situation in Poland is going in the right direction has fallen to 44 percent from the previous result of 49 percent, while the number of respondents claiming that it’s going in the wrong direction has increased by 4 percentage points to 40 per...

Locked content Fasing with €30 mln investment deal in Vietnam

WSE-listed chains producer Fasing has signed a preliminary investment deal with Vietnamese Tien Lam to set up a local facility worth €30 million, the company said in a market filing. “The parties intend to set up a joint stock company in an industrial complex in My An, Bac Giang Province,” the compa...

Locked content Orlen to issue PLN 1 bln worth of bonds

WSE-listed fuel giant Orlen has decided to issue B-series bonds worth PLN 1 billion under its ongoing program addressed to retail investors, the company said in a market filing. The bonds will be issued in several tranches within the 12 months after the approval of the program. Details of the issuan...

Locked content BGŻ to sell its factoring business

WSE-listed lender BGŻ BNP Paribas has signed a conditional agreement to sell 100 percent of BGŻ BNPP Faktoring shares to its French majority shareholder, BNP Paribas for PLN 10.41 million, the company said in a market filing. The sale will go through if it will be cleared by proper authorities, incl...

Locked content PZU with PLN 700 mln Q3 net profit

WSE-listed, state-owned insurer PZU recorded a PLN 700 million net profit in Q3, up by 7.9 percent y/y. Gross written premium reached PLN 5.32 billion, up by 10 percent y/y, while EBIT amounted to PLN 1.69 billion compared to PLN 910 million last year. “The group has PLN 300 billion in assets, which...

Locked content European Parliament demands triggering Article 7 against Poland

MEP voted to demand that EU member states punish Poland by triggering Article 7 of the EU treaty which would strip Warsaw of its voting rights in the European Parliament. While 438 lawmakers voted for and 152 against the motion, triggering Article 7 is highly unlikely as it requires unanimity, and H...