Locked content Government asks KNF to provide a base for CHF conversion

“The government wants to adopt a law on loans in Swiss francs (CHF), but we still do not have all the information on the mortgage loans, and we hope that the Polish Financial Supervision Authority (KNF) will provide a base, which contains the costs of currency conversion,” said Henryk Ko...

Locked content Banking sector net profit plummets

Poland’s banking sector recorded an aggregated net profit of PLN 1.17 billion in January 2016, according to data from the Financial Supervision Authority (KNF). It fell by 11.6 percent year-on-year. Net income from banking activity stood at PLN 4.5 billion and fell by 9.1 percent y/y. Banks’ net int...

Locked content Polish banking sector stable – KNF

Head of financial watchdog KNF, Andrzej Jakubiak said that the Polish banking sector is stable and the money kept in Polish banks are safe. In March, the watchdog will present its estimates regarding the costs of the FX  loans conversion law proposed by the President. Jakubiak advised banks to refra...

Locked content KNF suspends SKOK Polska and files for bankruptcy

The Financial Supervision Authority (KNF) suspended the activity of SKOK Polska and filed a motion for the firm’s bankruptcy in court. In a post on its website , the agency explained that this is due to the failing liquidity of the credit union. A special managing commissary was inserted as he...

Locked content KNF suspends SKOK Kujawiak

As of January 8, Polish financial watchdog KNF has suspended operations of SKOK Kujawiak credit union due to its “deep” insolvency, in addition, it applied for the bankruptcy of the institution. SKOK Kujawiak deposits’ value reached PLN 187 million. As a result of the institution&#...

Locked content KNF approves Enter Air prospectus

Financial watchdog KNF has approved the prospectus of charter airline Enter Air to issue C series shares. The company will hold a press conference on Tuesday with regard to the IPO. In July, Enter Air suspended its IPO due to the unfavorable market situation. Back then, the company wanted to issue s...

Locked content Banking sector net profit plummets

Poland’s banking sector recorded an aggregated net profit of PLN 11.42 billion in January-September 2015, according to data from the Financial Supervision Authority (KNF). It fell by 11.9 percent year-on-year. Net income from banking activity stood at PLN 41.56 billion and fell by 5.8 percent y/y. B...

Locked content KNF approves Wittchen prospectus

Poland’s financial watchdog (KNF) has approve a prospectus from Polish premium footwear and clothing group Wittchen. The company plans to hold IPO and enter the Warsaw bourse as part of its expansion plans into foreign markets in the e-commerce sector, a company press release read. The IPO for...

Locked content Banking sector net profit fell 11.7% end-August

Poland’s banking sector recorded an aggregated net profit of PLN 10.33 billion in January-August 2015, according to data from the Financial Supervision Authority (KNF). It fell by 11.7 percent year-on-year. Net income from banking activity stood at PLN 36.99 billion and fell by 5.8 percent y/y. Bank...