Locked content Novaturas to offer 50% stake in IPO

Lithuanian tour operator Novaturas confirmed its intention to be floated on the Warsaw Stock Exchange and on the Lithuanian Nasdaq and will offer 50 percent stake with an option to increase it to 66 percent if the demand is strong. “The offering will involve the company’s existing shares, which are ...

Locked content Bank Handlowy Q4 profit grows

WSE-listed lender Bank Handlowy recorded PLN 163.4 million net profit in Q4, up by 25.4 percent y/y, according to its preliminary financial results. Net interest income amounted to PLN 290.3 million up by 13.2 percent y/y, while net fee and commission income amounted to PLN 144.8 million a 7.3 perce...

Locked content BZ WBK confirms 2017 profit at PLN 2.21 bln

WSE-listed lender BZ WBK had a PLN 2.21 billion net profit last year, confirming its previous estimates. The result was 2.1 percent higher y/y. Net interest income amounted to PLN 5.27 billion up by 10.6 percent y/y while net fees and commissions income reached PLN 2.01 billion, up by 5.1 percent y/...

Locked content PGNiG Q4 net profit drops

WSE-listed gas giant PGNiG had PLN 430 million net profit in Q4, down from PLN 720 million profit a year ago, according to the company’s preliminary figures. Revenues amounted to PLN 10.97 billion, compared to PLN 10.15 billion last year, while the adjusted EBITDA stood at PLN 1.84 billion, slightly...

Locked content KNF: Banking sector profit drops 2.3% in 2017

The banking sector recorded an aggregated net profit of PLN 13.6billion last year, according to data from the Financial Supervision Authority (KNF), representing a 2.3 percent decline y/y. Net income from banking activity stood at PLN 61.76 billion and increased by 4.1 percent y/y. Banks’ net intere...

Locked content Investment funds with PLN 2.5 bln in inflows in January

Poland’s investment funds recorded net inflows of PLN 2.5 billion in January, a report by asset management lobby IZFiA showed. This was the best January result in a decade. Cash and money funds recorded PLN 1.5 billion inflows, with mixed funds in a distant second at PLN 390 million inflows. D...

Locked content FX mortgage relief bill approved by the government

The government has approved the presidential bill aimed to help those with FX mortgages (mostly in Swiss Francs) and the appropriate parliamentary commission will continue working on it in late February or early March. “We positively assess the draft law, aimed at developing a mechanism for providin...

Locked content Budimex wins PLN 484 mln tender for S61 road

WSE-listed construction firm Budimex won a PLN 484.3 million net tender for building a section of S61 expressway, General Director for National Roads and Motorways GDDKiA announced. Budimex will build a 20 kilometer-long section of the road connecting Wysokie with Raczki in the Warmińsko-Mazurskie v...

Locked content Tarczyński hikes tender price

The main shareholders of WSE-listed meat processor Tarczyński, Elżbieta and Jacek Tarczyński raised the price offered for the company’s shares to PLN 12.6 apiece from the previous PLN 10.5. Tarczyńscy through its subsidiary EJT Investment wants to buy 6 million shares representing 41.8 percent stake...

Locked content PGNiG mulls takeover in Norway. No plans to sell Termika

WSE-listed gas giant PGNiG is considering acquiring production assets in Norway this year.” The talks in this matter have been ongoing for two years now. We are not in a hurry,” company’s CEO Piotr Wożniak said. He stressed that the company is primarily interested in gas deposits, rather than crude ...