Locked content Polish banks face more consolidation in 2017 – KNF

Polish banking sector will likely continue the consolidation process in 2017. “The process of consolidation and takeovers in 2017 will probably advance and it will probably follow from conditions at their parent banks, albeit not so much tough financial conditions as changes in strategy,” the deputy...

Locked content KNF should merge with NBP – Chrzanowski

President of the financial market regulator KNF Marek Chrzanowski said that his organization should be merged with the Poland’s Central Bank (NBP). According to him, both institutions would profit from such merger as KNF oversees micro-prudential factors, while NBP is a macro-prudential superv...

Locked content Polish banking sector stable – KNF head

The Polish banking sector is stable and solvent, with major challenges ahead including the FX loan conversion bill, financial market watchdog KNF President Marek Chrzanowski said during a public finance committee sitting. “The banking sector is liquid, stable and solvent,” Chrzanowski said. “The div...

Locked content Shake-up in the KNF management

Poland’s financial market watchdog KNF let go deputy CEOs Wojciech Kwaśniak and Lesław Gajek and appointed Filip Świtała and Marcin Pachucki in their place. No reason were given for the dismissal. Kwaśniak held the position since 2011, while Gajek took his post three years earlier. Świtała wil...

Locked content KNF suspends Calatrava Capital trading

Polish Financial Supervision Authority (KNF) has suspended indefinitely trading of the Calatrava Capital shares on the Warsaw Stock Exchange and fined the company with PLN 700,000. The company had failed to publish accurate financial statements between 2012-2015. KNF explained that the fine is sever...

Locked content KNF website hacked

Poland’s financial market regulator KNF website has been hacked last week “KNF has identified an attempt of external intrusion in the IT system servicing its website but its internal IT systems are safe,” KNF spokesperson Jacek Barszczewski wrote in a statement. “Internal systems of reporting ...

Locked content Wielkopolska SKOK files for bankruptcy

Financial market watchdog KNF suspended operations and filed for bankruptcy of credit union Wielkopolska SKOK. The credit union had negative equity of PLN 68.6 million and s negative result of PLN 71 million in 2016. Its solvency ratio was at negative 18.7 percent, according to KNF regulations, any ...

Locked content Banking environment in Poland steady in 2016 – KNF

The situation of Polish banks during Q1 – Q3 remained stable, and there has been a strengthening of the capital base of banks, the Polish Financial Supervision Authority (KNF) – Poland’s official financial regulator, which supervises banks, capital markets and insurance institutions – said in a Poli...