Locked content KNF: Raiffeisen must sell a part of Polbank portfolio or enter WSE

The Financial Supervision Authority (KNF) has approved Raiffeisen Polbank’s declaration, which allows Raiffeisen to sell part of its Polish unit, without its Swiss franc-denominated loan portfolio, to a Warsaw-listed bank till the end of 2016, KNF informed. Moreover, the KNF has allowed Raiffe...

Locked content KNF suspends SKOK Arka and files for bankruptcy

The Financial Supervision Authority (KNF) has suspended the activity of savings & loan institution SKOK Arka and filed a motion for the firm’s bankruptcy, with nearly PLN 100 million in client deposits, the KNF said in a statement. According to the KNF, the bankruptcy motion was filed sinc...

Locked content Banking sector profit falls by 15.7% y/y

Poland’s banking sector recorded an aggregated net profit of PLN 3.5 billion in January-March 2016, according to data from the Financial Supervision Authority (KNF). It fell by 15.7 percent year-on-year. Net income from banking activity stood at PLN 14.2 billion and fell by 2 percent y/y. Banks’ net...

Locked content KNF suspends SKOK Jowisz

As of April 22, the Polish financial watchdog KNF suspended operations of savings & loan institution SKOK Jowisz and filed a motion for the firm’s bankruptcy, the KNF said in a statement. SKOK Jowisz deposits’ value reached PLN 82.5 million. A bankruptcy motion, filed by KNF, constit...

Locked content KNF approves merger of BGŻ BNP Paribas and Sygma Bank

The Polish Financial Supervision Authority (KNF) has approved  the merger of Bank BGŻ BNP Paribas with Sygma Bank Polska and the transfer of all Sygma’s assets to BGŻ BNP Paribas, the KNF reported. BNP Paribas estimated synergies related to the merger with Sygma Bank at PLN 86 million as of 20...

Locked content Expert team to prepare changes to the CHF loans draft bill

Poland’s Presidential Chancellery has established an expert team to prepare changes to the CHF loans draft bill. The proposal should be presented at the turn of May and June, the chancellery reported. Experts will solve the problem of people with loans denominated in and indexed to foreign cur...

Locked content KNF: loans up by 7.1%, deposits by 10.5% y/y

The Polish Financial Supervision Authority (KNF) published data regarding banks’ loans and deposits from January to February 2016 on a year-on-year basis. The total value of loans in the banking sector in Poland, along with foreign units, increased by 7.1 percent y/y reaching PLN 976.84 billio...

Locked content KNF approves Polish Stem Cell Bank prospectus

Poland’s financial watchdog (KNF) has approved the prospectus from the Polish Stem Cell Bank (Polski Bank Komórek Macierzystych) to issue A, B, C, D, E, F, G, H, I, J series shares. The investment companies are mBank Brokerage House and Haitong Bank. An offer is planned for the first half of 2...