Locked content PKO and mBank to withhold dividend payout?

Commercial lenders PKO BP and mBank have received a recommendation from the financial watchdog KNF to withhold from paying dividends for the last year. It is said that the action is aimed at pressurizing banks to convert the CHF-denominated mortgage loans to the złoty. The KNF had earlier informed t...

PKO TU to launch operations in Q2

Polish financial watchdog KNF has given green light to the establishing of PKO Towarzystwo Ubezpieczeń (PKO TU), an insurance subsidiary of PKO BP, Poland’s largest lender. The new insurer will start operating in the second quarter of 2015.

Locked content KNF gives Polish lenders deadline

Until March 11 Polish banks have time to make an approach to the KNF in order to present their proposals regarding Polish franc-borrowers and the plan introduced by the KNF’s head, Andrzej Jakubiak. According to Jakubiak, Polish banking is divided, some of the lenders would like to approve his...

KNF: Loans and deposits up in 2014

The aggregated value of loans granted by the Polish banking sector in 2014, including Polish branches of foreign lenders, grew by 6.9 percent year-on-year to PLN 895.16 billion, according to data from the Polish Financial Supervision Authority.

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Hungarian lender OTP Bank has withdrawn its bid to buy FM Bank PBP, according to an anonymous source quoted by Reuters.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...