Locked content Daily: 5 in the running for Getin and Idea Bank

The majority shareholder of WSE-listed lenders Getin Noble Bank and Idea Bank has notified the Financial Supervision Authority KNF that he received initial offers for the lenders. According to the Puls Biznesu daily, 5 entities are interested and listed four equity funds: American Centerbridge and A...

Locked content Getin Noble and Idea Bank set merger terms

Getin Noble Bank (GNB) and Idea Bank agreed and signed a merger plan. The legal consolidation of the banks, both controlled by Polish magnate Leszek Czarnecki, is planned for Q3 2019, following the necessary approval of the Polish Financial Supervision Authority (KNF). Under the plan, the watchdog s...

Locked content Getin Noble Bank wants to find financial investor

The board of Getin Noble Bank decided to start looking for an investor, who would recapitalize the bank, Getin Noble said in a statement. It may be that the merger with Idea Bank will occur before the investor is acquired. In this case, the recapitalization would be provided for the new entity. Invi...

Locked content Regulators assure investors that Polish financial system is stable

Financial Stability Committee KSF said on Monday the Polish financial system is stable after the Financial Supervision Authority KNF head Marek Chrzanowski resigned last week amid a corruption scandal. KSF which consists of Central Bank NBP, KNF, the Ministry of Finance, and the Bank Guarantee Fund ...

Locked content EuroRating downgrades Getin Noble Bank rating to “B-“

The rating agency EuroRating has downgraded the credit rating of Getin Noble Bank (GNB) to B- from B, the negative outlook was maintained. “Another, fourth cut of the Getin Noble Bank rating is related to the negative impact of the scandal with controversial talks of the former chairman of KNF...

Locked content Getin Noble Bank sells PLN 100 mln shares to LC Corp

WSE-listed Getin Noble Bank sold 36.6 million new shares at PLN 2.73 apiece to WSE-listed real estate developer LC Corp controlled by the same lead shareholder Leszek Czarnecki under a private placement, the company said in a market filing. This was the second tranche of shares sold this way to LC C...

Locked content Czarnecki considers Getin Noble and Idea Bank consolidation

Getin Noble Bank (GNB) major shareholder Leszek Czarnecki considers consolidation of Getin Noble and Idea Bank, GNB said. Czarnecki expects that consolidation will lead to cost and sales synergies and increase sales potential. In the near future, he intends to analyze benefits and costs and may agre...

Locked content Getin Noble Bank to sell 25% in Noble Securities

Getin Noble Bank signed a conditional agreement to sell 25 percent stake in Noble Securities to Leszek Czarnecki, the bank said. The approval of Polish Financial Supervision Authority (KNF), which  Czarnecki should obtain, is the necessary condition. The 25 percent stake equals to 874,036 Noble Secu...

KNF approves Getin Noble Bank merger with BPI Bank

The Polish Financial Supervision Authority (KNF) has authorized the merger of Getin Noble Bank and BPI Bank Polskie Inwestycje through the transfer of all assets of BPI Bank Polskie Inwestycje to Getin Noble Bank, the Commission said.

Locked content Getin Noble Bank Q1 net loss narrows to PLN 47.7 mln

WSE-listed Getin Noble Bank recorded Q1 consolidated net loss of PLN 47.7 million compared to PLN 96.6 million a year ago. Net interest income amounted to PLN 296.9 million versus PLN 328.8 million in Q1 2017. Tier 1 capital ratio at the end of March was 9.4 percent. The bank reported a 2.4 percent ...