Locked content KNF: insurers with PLN 3.79 bln H1 profit

Net profit of insurers operating on the Polish market increased to PLN 3.79 billion in H1 compared to PLN 2.25 billion a year earlier. Gross written premiums amounted to PLN 31.57 billion compared to PLN 27.42 billion a year earlier, the Financial Supervision Authority (KNF) reported. Insurance cost...

Locked content Pekao with KNF approval for Pioneer Pekao PTE takeover

WSE-listed lender Pekao secured Financial Supervision Authority (KNF) approval to take over 7,266 shares in Pioneer Pekao PTE pension fund from Pioneer Global Asset Management, KNF said in a market filing. This is the first hurdle to clear a bigger, €140 million deal for Pekao to purchase 51 percent...

Locked content Investors lost over PLN 6.5k in H1 on the forex market – KNF

The average result of investors on the forex market in H1 2017 was a PLN 6,742 loss, meaning that the average profit decreased by 11.3 percent y/y, the Financial Authority Supervision said. Combined realized gains amounted to PLN 124.43 million compared to PLN 136.59 million a year earlier, while th...

Loans up by 3.7%, deposits by 5% at end-July

The Polish Financial Supervision Authority (KNF) published data regarding banks’ loans and deposits for the first seven months of this year. The total value of loans in the banking sector in Poland, including foreign units, increased by 3.7 percent y/y reaching PLN 1,034.11 billion. The value ...

Locked content KNF approves Getin Noble Bank’ recovery program update

WSE-listed lender Getin Noble Bank received the Financial Supervision Authority (KNF) approval for its update to the bank’s recovery program for the 2017-2021 period, the company said in a market filing. Getin Noble launched its recovery program last year, when it posted a PLN 200 million Q4 2015 ne...

Locked content KNF obligations regarding IPO have not changed – Raiffeisen CEO

According to Raiffeisen CEO, which owns Raiffeisen Polbank, Johann Strobl, said that the Polish Financial Supervision Authority did not expand the banks’ obligation regarding its IPO after postponing the date to May 2018. “The Polish regulator had not tightened the conditions. We want to fulfi...

Locked content KNF: Banking sector down 17.5% in H1

Poland’s banking sector recorded an aggregated net profit of PLN 6.87 billion H1, according to data from the Financial Supervision Authority (KNF), representing a 17.5 percent decline y/y. Net income from banking activity stood at PLN 30.5 billion and decreased by 1.9 percent y/y. Banks’ net interes...

Locked content KNF extends Raiffeisen IPO deadline. Hopes for improved offer

Financial Supervision Authority (KNF) gave Raiffeisen Polbank a new May 15, 2018, to float at least 15 percent on the Warsaw Stock Exchange. At the same time, KNF said that it hopes that the offer will be above the threshold and will include new shares on top of existing ones. It also hopes that the...

KNF and NBP need to merge – Central Bank head

Poland’s Central Bank (NBP) President Adam Glapiński said in Sejm, that it is necessary to merge the central bank with the Financial Supervision Authority (KNF) in order to create one macro-prudential supervisory body. “Micro-prudential supervision is of particular importance, as the effective funct...