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...

Locked content KNF may penalize The Witcher 3 producer

Financial watchdog KNF said it is examining whether video game developer CD Projekt, the company responsible for The Witcher 3, broke the law by publishing its sales results in the form of a press release and not, as it is legally required, as the so-called current report through specific trading in...

Locked content KNF watchdog orders Bank BPH recovery plan

Commercial lender BPH informed in its latest report that it had received a recommendation from the financial watchdog KNF to prepare a recovery program. The program is to be valid until the end of 2017. The aim of such programs is to align business activities of the bank to its capital capabilities ...

T-Mobile listed on KNF public warnings

Poland’s financial market watchdog KNF placed T-Mobile on its public warnings list and filed a notification on suspicion of committing a crime, according to the media. The mobile operator has been offering a product which was not approved by the KNF, hence acting against the law.

BZ WBK will not pay out dividend

The board of commercial lender BZ WBK has changed their decision regarding the allocation of profits and has decided to not pay out dividends for 2014.