Locked content Bank BPH net profits fall y/y to PLN 4.43 mln in Q3

Bank BPH recorded a consolidated net profit of PLN 4.43 million in Q3 of 2016 for continuing and discontinued operations, down from PLN 4.85 million a year earlier, the bank reported. The bank explained that due to the purchase of its Primary Activities by Alior Bank, starting with the report for Q1...

Locked content Gdańsk court agrees to examine lawsuit by CHF mortgage holders

Around 700 Swiss franc mortgage holders have filed a lawsuit against Bank BPH. The District Court in Gdańsk issued a decision agreeing to consider the class action suit, Mariusz Korpalski, an attorney representing the group, announced. “Such decisions of the courts should be the standard, but ...

Locked content Bank BPH ceases mortgage loans acceptance

Polish commercial lender Bank BPH has announced it will stop an acceptance of mortgage loans for its retail customers as of September 1, 2016. “The decision is related to the planned sale transaction and the division of the Bank, after which Bank BPH will not issue new mortgage loans,” a...

Locked content Alior holds over 90% in Bank BPH

Commercial lender Alior Bank bought 46.5 million shares in Bank BPH under the tender offer for 50.6 million shares (66 percent stake) and will seek a squeeze-out of minority shareholders after the end of the offer, the bank informed. Following the transaction settlement due on August 24, Alior and B...

Locked content Bank BPH President resigns; new one appointed

Richard Gaskin, the President of the Management Board of Bank BPH, has resigned from his position, the bank informed in a market filing on Tuesday. Additionally, five Deputy Presidents of the Management Board stepped down: Grażyna Utrata, Andras Bende, Mariusz Kostera, Mariusz Bondarczuk and Krzyszt...

Locked content KNF approves takeover of Bank BPH by Alior

Commercial lender Alior Bank was granted with approval from financial regulator KNF for the takeover of Bank BPH, the watchdog informed in a statement. BPH assets, save for the mortgage portfolio and fund manager BPH TFI, will be transferred to Alior. The remaining parts of the bank will be kept by ...

Locked content EuroRating downgrades Bank BPH’s rating

The international credit rating agency EuroRating has lowered the rating of Bank BPH by two degrees (from BB+ to BB-), the overlook remained negative. The reduction of the rating is connected with the takeover of an 87 percent stake in Bank BPH by Alior Bank, a statement read. In April, Alior Bank, ...

Locked content Bank BPH receives PLN 100 mln from Visa merger

Bank BPH will receive €16.7 million (PLN 74.4 million) in cash and €5.7 million (PLN 25.4 million) in Visa Inc. shares in exchange for its stake in Visa Europe, the bank informed in a market filing. The provisions of the transaction are expected to be completed in the second quarter of 2016. In Nove...

Locked content BPH TFI to be put on sale again

In selling Bank BPH to Alior, GE Capital has neither got rid of the activities related to mortgages, nor sold TFI. Thus, the fund managing under BPH brand is again on sale (since 2012). “We will continue evaluating various opportunities to sell other BPH assets, according to the strategy, adop...

Alior Bank acquires Bank BPH

Alior Bank, a unit of state-owned insurer PZU, has signed a deal to buy a 87.23 percent stake in Bank BPH for PLN 1.22 billion. The transaction excludes the franc-denominated mortgage loans portfolio and should be completed by the end of 2016, the banks announced.