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...

Locked content KNF gives PZU green light to acquire Alior Bank

Polish financial watchdog KNF has approved the transaction of purchasing over 25 percent stake of Alior bank by insurer PZU. PZU purchased 25.25 percent stake in commercial lender Alior Bank from its lead shareholder Carlo Tessara for PLN 1.635 billion. In August, anti-monopoly watchdog UOKiK approv...

Locked content Banking sector net profit at PLN 7.96 bln end-June

Poland’s banking sector recorded an aggregated net profit of PLN 7.96 billion in January-June 2015, according to data from the Financial Supervision Authority (KNF). It fell by 8.2 percent year-on-year. Net income from banking activity stood at PLN 27.92 billion and fell by 4.9 percent y/y. Banks...

Locked content KNF: loans up by 7.6%, deposits by 9.8% y/y I-V

The Polish Financial Supervision Authority (KNF) published data regarding banks’ loans and deposits from January to May 2015 on a year on year basis. The total value of loans in the banking sector in Poland along with foreign units increased by 7.6 percent y/y reaching PLN 931.42 bln. The valu...