Locked content Polish lenders earned more in 2014

Polish banks’ net profits amounted to over PLN 16.2 billion in 2014 and increased 7 percent year-on-year, the Polish Financial Supervision Authority (KNF) reported. The operational costs fell by 1.3 percent y/y and stood at PLN 27.2 billion. As of the end of September, the capital adequacy ratio was...

KNF’s plan for franc borrowers

The Head of the Financial Supervision Authority (KNF), Andrzej Jakubiak presented a plan for franc-denominated mortgage loan conversion. It assumes that mortgage loans would be converted to two złoty-denominated debts. The first would be secured by the mortgaged property and would correspond to the ...

Locked content OTP withdraws bid for FM Bank

Hungarian lender OTP Bank has withdrawn its bid to buy FM Bank PBP, according to an anonymous source quoted by Reuters. OTP Bank was one of the candidates to buy FM Bank, among Polish banks, Alior Bank and BOS Bank, and a private equity firm, AnaCap Financial. The Polish Financial Supervision Author...

Locked content KNF imposed PLN 11.17 mln worth of fines last year

In 2014 Polish Financial Supervision Authority (KNF) imposed 59 financial penalties with a total value of PLN 11.17 million. It was the biggest number of fees since KNF was established and 13 more than a year ago. In 2014 KNF reported 65 warnings with majority of them regardingviolation of the law o...

Locked content SKOK Wołomin clients are receiving reimbursement of deposits

The clients of credit union SKOK Wołomin are receiving reimbursements from the Bank Guarantee Fund. The reimbursement of money is taking place in selected locations of PKO BP bank and will last until the 28th of February. Payouts of more than PLN 25,000 require a prior notification of the bank. Clie...

Locked content Abris to sue Poland for forced sale of bank

Abris Capital Partners are in the process of suing Poland for PLN 2 billion. The fund claims that it will incur losses after the Polish Financial Supervision Authority (KNF) forced it to sell lender FM Bank PBP. The regulator order the sale of the bank after deciding that Abris did not meet their ob...

Locked content KNF orders FM Bank sale by April 30

The Polish Financial Supervision Authority (KNF) has ordered PL Holdings to sell its stake in FM Bank PBP no later than April 30, 2015, the watchdog said in an announcement on Tuesday. The decision stems from the fact that PL Holdings and Abris Capital failed to carry out their earlier obligations t...

Locked content KNF unlikely to approve BPH sale

It is highly unlikely that the Polish Financial Supervision Authority (KNF) will approve the sale of Bank BPH by GE to any bank operating in Poland, the watchdog’s vice-president Wojciech Kwaśniak told Reuters in an interview. Soon after the announcement by GE that it could sell the Polish bank, KNF...

Locked content KNF warns of cyber-attacks

The Polish Financial Supervision Authority (KNF) has issued a warning for the financial sector against cyber-attacks. The watchdog said it had received information from the Governmental Computer Security Incident Response Team about possible future attacks of this kind. The KNF has recommended finan...