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 Idea Bank put on public warning list by KNF

Polish Financial Supervision Authority KNF put Idea Bank on the public warning list, the bank informed. KNF suspects the banking in performing financial activities related to GetBack bonds distribution from August 2016 to March 2018 without appropriate KNF approvals. “On November 7, Idea Bank ...

Locked content Leszek Czarnecki to buy 15% in Idea Getin Leasing for PLN 75 mln

WSE-listed lender Idea Bank will 15 percent stake in Idea Getin Leasing subsidiary to its majority shareholder Leszek Czarnecki for PLN 75 million in hopes to boost its Q3 standalone results by PLN 73.7 million and meet the regulatory capital criteria. After the transaction, Idea Bank will retain th...

Locked content Write-downs and reserves will affect Idea Bank results

Idea Bank made write-downs for a total of PLN 190 million and created reserves for PLN 128 million that will affect the bank’s Q2 results. After these corrections Idea Bank’s solvency ratios will temporarily go below the levels indicated by the Polish Financial Supervision Authority KNF,...

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 Idea Bank’s management calms investors after recent stock plunges

The management of WSE-listed Idea Bank issued a statement in which it reiterated that the lender is in stable condition and recent stock declines have “no fundamental grounds.” “There are no fundamental grounds justifying the recent stock price fluctuations. The bank’s situation is stable,” th...

Locked content Idea Bank 2017 profit soars

WSE-listed Idea Bank’s net profit in 2017 amounted to PLN 230.8 million, up from PLN 40.85 million profit a year earlier, the bank reported. This result does not include the result on the sale of 25.01 percent stake in Idea Leasing SA, the impairment loss on Open Finance, the update of Sky TowerR...

Locked content Idea Bank with PLN 27.9 mln impairment to Q3 results

WSE-listed Idea Bank, a unit of listed Getin Holding will have a PLN 27.9 million impairment to its Q3 results, after writing off loans worth PLN 34.3 million, the company said in a market filing. The company estimates that the write off will reduce its Q3 net profit by PLN 15.2 million. The amendme...

Locked content Czarnecki could be looking to offload Idea Bank shares – sources

Leszek Czarnecki, one of the richest Poles, may be looking to sell his Idea Bank shares, reported daily Rzeczpospolita citing two sources. Czarnecki holds 9.85 percent of Idea Bank directly as well as 55 percent of Getin Holding, Idea Bank’s major shareholder with a 54.43 percent stake. The sources ...

Locked content Idea Leasing and Getin Leasing will merge

Idea Leasing, part of Idea Bank, will merge with Getin Leasing, Idea Bank informed. After the merger, the new company will operate under the name Idea Getin Leasing. The move is designed to simplify the structure of the companies, both generating cost synergies. Ide bank was formed in 2010, from the...