Locked content Banks profit could exceed forecasts – KNF

The banking’s sector profit could exceed previous estimations, according to the Financial Supervision Authority (KNF). “As banks adapt well to new conditions by reducing interest on select deposits, increasing margins of select credits, increasing F&C on select services or reducing operating cos...

Locked content KNF sets temporary MiFiD II rules

Financial Supervision Authority KNF issued temporary guidelines for applying MiFID II directive since the domestic legislation is expected to be implemented in March/April. The KNF regulations will come into force on January 3. KNF has applied the rule of higher priority of EU regulations, which mea...

Locked content KNF: loans up by 4%, deposits by 5.7% y/y I-X

The Polish Financial Supervision Authority (KNF) published data regarding banks’ loans and deposits from January to October 2017 on a year-on-year basis. The total value of loans in the banking sector in Poland, including foreign units, increased by 4 percent y/y reaching PLN 1.04 trillion. Th...

Locked content KNF issues new dividend regulations

Financial Supervision Authority KNF set rules for several types of companies regarding dividends payouts for 2017’s profit. Insurers will be able to pay out up to 75 percent of its profits when they meet regulatory and solvency ratings. While the cap will be set at 100 percent for extra-solvent insu...

Locked content KNF issues new dividend regulations for banks

The Financial Supervision Authority KNF, released new dividend payout criteria for banks for 2018. To be allowed to pay them out, lenders cannot be undergoing restructuring, have to have a leverage ratio above 5 percent and must have Tier 1 and total capital ratio no lower than the required minimum ...

Locked content KNF revokes FinCrea TFI license and slaps PLN 5 mln fine

Financial Supervision Authority KNF revoked investment fund FinCrea TFI operating license and put a PLN 5 million fine for failing to supervise some of its portfolios. “FinCrea TFI failed to supervise the entity entrusted to manage investment portfolios of FIZAN Agricultural Investments, Selective I...

Locked content KNF raises mBank’s FX mortgage capital buffer

The Financial Supervision Authority KNF asked WSE-listed mBank to raise its FX-denominated mortgage buffer to 4.10 pps, from the previous 3.81 pps. Of the buffer, 75 percent is to be maintained in Tier 1 capital and 56 percent in Core Tier 1 capital. mBank stated that it meets such requirements at t...

OFEs interest in bonds soars in October

Polish pension funds (OFEs) increased their fixed income allocation by 7.6 percent m/m, putting it at 8.5 percent, Financial Market Authority (KNF) data showed. The bulk of it was spent on local government bonds (up by 10.1 percent m/m) and covered bonds (52 percent m/m). Equities, which at end-Octo...

Locked content XTB under KNF scrutiny

WSE-listed brokerage XTB is under Financial Supervision Authority KNF scrutiny. The watchdog launched an administrative proceeding which may result in a fine over suspected significant infringement of the law regarding providing services to clients as well as the organization and functioning of tran...