Banking sector stable – KNF

According to Polish Financial Supervision Authority (KNF), local banking sector is in “good and stable situation,” although some of the lenders need to strengthen their capital base, KNF wrote in its review of the banking sector performance in H1 2014.

Locked content KNF fines State Treasury

The Polish Financial Supervision Authority (KNF) has decided to impose a PLN 20,000 fine on the State Treasury, the watchdog said in an announcement on Tuesday. The KNF said that in August 2010, the State Treasury failed to notify the watchdog on time about a change it its holding of shares in power...

Locked content Polwax IPO prospectus approved

The Polish Financial Supervision Authority (KNF) has approved the prospectus of Polwax, a paraffin and wax producer, the watchdog said on Monday. Polwax will now be allowed to issue shares on the Warsaw Stock Exchange. The B and C shares will subsequently be introduced into the regulated market. Sto...

Locked content KNF approves sale of BGŻ to BNP Paribas

KNF, the Polish Financial Supervision Authority, has allowed financial group BNP Paribas to buy shares of Polish Bank BGŻ, the KNF said on Tuesday. At least 25 percent of the joint banks’ shares will be available on the Warsaw Stock Exchange within four years, reports the Polish Press Agency. BNP Pa...

Locked content Watchdog cautious about BZ WBK re-branding

The Polish Financial Supervision Authority has issued a statement asking lender BZ WBK for explanation regarding its planned re-branding as Santander, the Polish Press Agency (PAP) reports. The bank’s majority shareholder, Spanish lender Santander, was obliged to consult any changes in the name of b...

Tamborski approved as Warsaw Stock Exchange CEO

Financial regulator KNF has approved the candidature of Paweł Tamborski for the WSE chairman role. According to a KNF release, extraordinary measures have been taken to make sure that Tamborski meets the qualifications required by the Trading of Financial Instruments Act.

Locked content Abris appeal eases order to sell FM Bank stock

Financial market regulator KNF has reversed its order for Abris-EMP Capital Partners Ltd. to sell its stake in FM Bank PBP. Nonetheless, the regulator upholds a ban on exercising voting rights by the investor. A 4:1 majority voted to maintain the ban, allowing for the KNF to launch a sale of shares ...

Locked content SKOK “Wspólnota” files for bankruptcy

Cooperative credit union SKOK “Wspólnota” filed for bankruptcy after the Financial Supervision Authority (KNF) made a decision to cease the cooperative banker’s operations due to its poor financial well-being and an increasing dependence on outsourcing, according to an ISBnews release. S...