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 OFE assets grow in January

Net assets under management of open pension funds (OFE) totaled PLN 183 billion at the end-January, up by 2.6 percent m/m, the Financial Supervision Authority KNF reported. The three biggest funds in terms of net assets (out of 11 currently operating) are: Nationale-Nederlanden OFE (PLN 45.9 billion...

Locked content KNF: number of branches, employees in the banking sector drops

The number of branches of the nationwide banking branches decreased at the end of November by 400 branches to 6,699, Financial Supervision Authority KNF said. At the same time, the number of affiliates and other customer service centers has decreased to 3,947 from 4,394 a year before. Furthermore, a...

Locked content KNF: OFE assets reach PLN 179.5 bln at end-17

Net assets under management of open pension funds (OFE) totaled PLN 179.53 billion at the end of 2017 compared with PLN 153.43 billion a year earlier, the Financial Supervision Authority KNF reported. The three biggest funds in terms of net assets (out of 11 currently operating) are: Nationale-Neder...

Locked content ING secures KNF approval to set up mortgage unit

The Financial Supervision Authority KNF approved the ING Bank Ślaski motion to set up a mortgage bank. The decision was unanimous with KNF approving the new unit’s management board as well. Mirosław Boda was appointed its CEO. In accordance with the approved bank statute, the subject of activity of ...

Locked content KNF blocks Raiffeisen’s attempt to launch new bank

The Financial Supervision Authority KNF unanimously voted against granting Raiffeisen Bank approval to set up a new bank. KNF explained that under the Polish banking law, it can’t approve setting up a new banking unit by a lender that failed to meet all the criteria set up when the unit was being es...

Locked content Banks profit could exceed forecasts – KNF

The banking’s sector profit could exceed previous estimations, according to the Financial Supervision Authority (KNF). “As banks adapt well to new conditions by reducing interest on select deposits, increasing margins of select credits, increasing F&C on select services or reducing operating cos...

Locked content KNF sets temporary MiFiD II rules

Financial Supervision Authority KNF issued temporary guidelines for applying MiFID II directive since the domestic legislation is expected to be implemented in March/April. The KNF regulations will come into force on January 3. KNF has applied the rule of higher priority of EU regulations, which mea...