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 KNF chairman Marek Chrzanowski resigns 

Marek Chrzanowski, Chairman of the Polish Financial Supervision Authority (KNF), has resigned from his position in connection with the accusations made by investor Leszek Czarnecki. “In connection with dishonest and unfounded attacks and accusations made by Leszek Czarnecki, being in the unque...

Locked content KNF: insurers with PLN 3.81 bln H1 profit

Net profit of insurers operating on the Polish market increased to PLN 3.81 billion in H1 which is a 0.67 percent y/y increase. Gross written premiums amounted to PLN 32.12 billion and were higher by 1.73 percent than last year, the Financial Supervision Authority (KNF) reported. The gross value of ...

Locked content KNF: Banking sector grows 11.7% at end-August

The banking sector recorded an aggregated net profit of PLN 10.43 billion at end-August, according to data from the Financial Supervision Authority (KNF), representing an 11.7 percent growth y/y. Banks’ net interest income grew by 8.6 percent y/y to PLN 30.33 billion. Net fees and commissions came i...

Locked content KNF approves Bytom and Vistula merger plan

The Financial Supervision Authority KNF approved the share issue tied to the merger of WSE-listed clothing retailers Vistula and Bytom. According to the merger plan, Vistula Group will receive a 100 percent stake in Bytom. Initially, the companies agreed that one share of Bytom will be exchanged for...

Locked content Banks paid PLN 1.86 bln in H1 – KNF

The value of the banking tax paid by lenders in H1 amounted to PLN 1.86 billion, the Financial Supervision Authority said. This is PLN 68.7 million more than last year. The banks assets at end-June amounted to PLN 861.9 billion while their profit stood at PLN 7.84 billion, up by 17 percent. In the f...

Locked content KNF imposes fines on Raiffeisen Bank Polska SA

Polish Financial Supervision Authority KNF imposed on  Raiffeisen Bank Polska SA fine of PLN 5 million due to violations of law regarding investment funds, KNF said on Friday. The fines were imposed because the bank did not perform its depositary functions for the funds currently in liquidationprope...

Locked content Eques Investment TFI put on the alert list by KNF

The Financial Supervision Authority has placed the asset manager Eques Investment TFI on an alert list. The move follows KNF’s notification to the regional prosecutor’s office in Warsaw about the alleged violation of the bill on public offer and terms of introducing financial instruments...

Locked content Poland to expand KNF authority

Poland’s government wants to expand competencies of the Financial Supervision Authority KNF by, among other things, expanding its board with representatives from PM and banking guarantee fund BFG. The draft bill will be discussed at the upcoming cabinet sitting scheduled for Tuesday. The board will ...

Locked content Two more people detained in GetBack case

Central Anti-Corruption Bureau (CBA) detained two more people in relation to the GetBack corruption case. GetBack bought shares of another listed company for over PLN 207 million, while their value was estimated at only PLN 28 million, CBA said. Officers also found out that the acquired company had ...