Locked content PiS supports drops, PO inches up – CBOS poll

Ruling Law and Justice (PiS) party support has decreased by 3 percentage points to 40 percent, according to the poll conducted by CBOS. Civic Platform (PO) was second with 19 percent support, up by 1 percentage points m/m. Kukiz ’15 was third with 8 percent support (up by 1 pps) and PSL was fourth w...

Locked content KNF: Banking sector grows 11.7% at end-August

The banking sector recorded an aggregated net profit of PLN 10.43 billion at end-August, according to data from the Financial Supervision Authority (KNF), representing an 11.7 percent growth y/y. Banks’ net interest income grew by 8.6 percent y/y to PLN 30.33 billion. Net fees and commissions came i...

Locked content OFEs transfers PLN 625 mln to ZUS in September

Private pension funds OFE transferred PLN 625.9 million to the Social Security Fund ZUS under the pre-retirement asset shift in September. In the other direction, PLN 241.3 million in premiums were transferred. Under the Polish law, each OFE member has their assets transferred to ZUS over the 10-yea...

Locked content WSE signs cooperation deal with Chinese peer

The Warsaw Stock Exchange (WSE) and the Shenzhen Stock Exchange (SZSE) signed a memorandum of cooperation aimed at exchanging information and experiences, which is aimed at increasing the investment opportunities of companies through stock exchanges in both countries, the companies said. “We see the...

Locked content Bank Millennium to takeover SKOK Piast

The Financial Supervision Authority KNF has approved WSE-listed Bank Millennium application to takeover troubled credit union SKOK Piast. Millenium will takeover the management of the union on October 17, while on November 1 it will fully takeover SKOK Piast. The Bank Guarantee Fund will provide fin...

Locked content AmRest raises €70 mln through private placement

WSE-listed restaurant operator AmRest will issue over 7.4 million new shares at €9.44 apiece through private placement, the company said in a market filing. The nominal value of the shares will be €0.1 while the remainder of the amount will be the issue premium. The issue represents 3.5 percent of t...

Locked content Investment funds AuM down in September

Poland’s investment funds assets under management (AuM) dropped by 2.1 percent in September to PLN 275.3 billion, a report by asset management lobby IZFiA showed. The only type of funds that recorded inflows last month were securitization ones which expanded by 1 percent to PLN 4.6 billion and...

Locked content Duda appoints new Supreme Court judges ignoring court decision

President Andrzej Duda appointed on Wednesday 27 new judges to the Supreme Court despite the court’s ruling to suspend the procedure until the European Court of Justice verdict in that matter. “This is another stage of the judiciary reform that has been carried out, a very important one. It is, rest...

Locked content Poland 30th in the World Bank’s Human Capital ranking

Poland ranked 30th out of 157 countries ranked in the first-ever World Bank’s Human Capital Index. On a scale of 0 to 1, Poland had 0.75 points. Singapore had the best score (0.88) followed by South Korea and Japan (both had 0.84 points). Last on the list were Mali, Liberia, and Nigeria. The ranking...