Locked content KNF puts three companies on public warning list

Polish Financial Supervision Authority (KNF) put three companies – Premium Personal Finance, ACM Alpha Consulting Management EST, and ACM Alpha Consulting Management AG – on the public warning list. KNF suspects all of them in violating the Banking Law by operating without appropriate pe...

Locked content KNF will set guidelines for banks dividend policy in 2019

The Polish Financial Supervision Authority (KNF) will set guidelines for banks and insurers dividend policies in 2019, KNF said in a statement. The next KNF meetings are scheduled for January 15 and 29. The market expects a high dividend payment by Bank Pekao SA and Bank Handlowy, although some anal...

Locked content 77% of Poles heard about so-called KNF scandal – CBOS

The vast majority of Poles – 77 percent – have heard about the so-called KNF scandal, according to a survey by pollster CBOS. Half of them think that state institutions did not react quickly enough to the scandal. 47 percent expect that the state authorities will try to cover up the matt...

Locked content KNF: banking sector net profit up 8.7% y/y in Jan.-Oct.

Poland’s banking sector net profit in January-October amounted to PLN 12.7 billion, an increase of 8.7 percent y/y, Polish Financial Supervision Authority (KNF) reported. Net interest income increased to PLN 38.12 billion compared to PLN 35.22 billion in January-October 2017. Commissions income decr...

Locked content CBOS: trust to KNF and NBP declines

The perception of the National Bank of Poland (NBP) activity is still positive but is notably worse than three months ago. The change of attitude regarding NBP may be related to a scandal involving the Financial Supervision Authority (KNF), according to a pollster CBOS. 42 percent of respondents eva...

Locked content Altus TFI faces KNF fine

Financial Supervision Authority KNF launched an administrative procedure aimed at imposing fines on the WSE-listed fund manager Altus TFI, the company informed in a market filing. The case concerns potential misrepresentation of Centrum Finansowe Banku BPS share valuation. Altus also informed that i...

Locked content CBA arrests 7 former KNF members, including former chief

Officers of the Central Anti-corruption Bureau (CBA) arrested seven former employees of the Financial Supervision Authority KNF, including its ex-President Andrzej J who helmed the office between 2011-16. According to CBA, the arrests are a result of the ongoing investigation in the case of KNF supe...

Locked content KNF agrees to Hellman & Friedman and Nets Denmark’s acquisi...

The Polish Financial Supervision Authority (KNF) has found no grounds to object to the planned indirect acquisition by Hellman & Friedman Corporate Investors VIII Ltd. and Nets Denmark A/S of 100 percent of the shares in eCard SA and Dotpay. eCard operates in the field of providing enterprises w...

Locked content KNF punishes PZU with PLN 900,000 fine

The Polish Financial Supervision Authority (KNF) has decided to punish PZU SA for delays in the granting and payment of motor compensation in 2013-15. The value of the fine is PLN 900,000. The infringements found in the course of the proceedings concerned damages liquidated between 2013 and 2015. Th...

Locked content KNF wants to suspend Fast Finance trading on WSE

The Financial Supervision Authority KNF asked the Warsaw Stock Exchange to suspend the trading of the debt collector Fast Finance shares. The motion comes as the company failed to provide the Q3 financial report within the deadline set by law. “Pursuant to § 79 section 1 of the Regulation of the Min...