Locked content KNF revokes FinCrea TFI license and slaps PLN 5 mln fine

Financial Supervision Authority KNF revoked investment fund FinCrea TFI operating license and put a PLN 5 million fine for failing to supervise some of its portfolios. “FinCrea TFI failed to supervise the entity entrusted to manage investment portfolios of FIZAN Agricultural Investments, Selective I...

Locked content KNF raises mBank’s FX mortgage capital buffer

The Financial Supervision Authority KNF asked WSE-listed mBank to raise its FX-denominated mortgage buffer to 4.10 pps, from the previous 3.81 pps. Of the buffer, 75 percent is to be maintained in Tier 1 capital and 56 percent in Core Tier 1 capital. mBank stated that it meets such requirements at t...

OFEs interest in bonds soars in October

Polish pension funds (OFEs) increased their fixed income allocation by 7.6 percent m/m, putting it at 8.5 percent, Financial Market Authority (KNF) data showed. The bulk of it was spent on local government bonds (up by 10.1 percent m/m) and covered bonds (52 percent m/m). Equities, which at end-Octo...

Locked content XTB under KNF scrutiny

WSE-listed brokerage XTB is under Financial Supervision Authority KNF scrutiny. The watchdog launched an administrative proceeding which may result in a fine over suspected significant infringement of the law regarding providing services to clients as well as the organization and functioning of tran...

Locked content KNF approves Pekao and BOŚ CEOs

Financial Supervision Authority KNF cleared Michał Krupiński candidacy for the Pekao SA CEO and Bogusław Białowąs as the head of BOŚ. Krupiński was appointed deputy CEO back in June, pending KNF approval to become the lender’s president. He replaces Luigi Lovaglio, who was dismissed after Pekao SA w...

Locked content KNF approves Alior’s PLN 1.2 bln bond program

WSE-listed lender Alior Bank secured the Financial Supervision Authority’s KNF approval for its PLN 1.2 billion bond issue program. The bonds will be issued within the 12 months after the approval. With tenors capped at 10 years. The bonds may be either ordinary or subordinated. The bank will seek t...

Locked content OFE with the average 3-year return rate at 19.1%

Private pension funds OFE achieved 19.1 percent weighted average rate of return in the three-year period ending September 29, 2017, financial market regulator KNF said. The best performer was MetLife OFE with 23.21 percent return rate, followed by OFE PZU Złota Jesień (21.77 percent), and PKO BP Ban...

Locked content KNF asks WSE to suspend trading of three companies

The Financial Supervision Authority KNF filed a motion to the Warsaw Stock Exchange to suspend the trading of three companies: broadband infrastructure operator Mediatel, furniture maker Drewex, and IT company Regnon. All of these companies failed to submit their financial reports for H1. KNF wants ...