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...

Locked content KGHM Q3 profit drops

WSE-listed copper and silver giant KGHM posted a PLN 604 million net profit in Q2, down by 63 percent y/y. Revenues amounted to PLN 4.77 billion, up from PLN 4.68 billion last year. EBITDA grew by 29.8 percent to PLN 1.41 billion. “”Despite the relatively small increase in revenue due to the n...

Locked content UOKiK extends Bytom-Vistula merger proceedings

The antitrust watchdog UOKiK has extended antimonopoly proceedings on the merger of clothing retailers Vistula and Bytom by 4 months. The case has been entered into the second phase of the proceedings, reserved for more complicated cases. UOKiK now can conduct, among others, market analysis. The mer...

Locked content Poland to extend the de minimis credit guarantee program

The Ministry of Finance wants to extend the de minimis credit-guarantee program until mid-2018. “The extension of the de minimis guarantee offer until 30 June 2018 will continue to make it easier for SMEs to get access to debt financing which in return will boost the economy,” the ministry said. The...

Locked content Raiffeisen Polbank Q3 profit way down

Raiffeisen Polbank, had a PLN 26.6 million attributable net profit at the end of Q3, down by 76 percent, the bank said in a market filing. Net interest income amounted to PLN 831.7 million, compared to PLN 752.91 million the year before while net fee income inched down by 1 percent to PLN 438.1 mill...

Locked content Bank Handlowy Q3 profit grows

WSE-listed lender Bank Handlowy recorded PLN 171.57 million net profit in Q2, up by 18.4 percent y/y. Net interest income amounted to PLN 273.5 million against PLN 247.3 million a year earlier. Net fee and commission income amounted to PLN 146.2 million compared to PLN 144.5 million a year earlier. ...