Locked content Twoja SKOK credit union declared bankrupt

Credit union Twoja SKOK was declared bankrupt by a district court, the Financial Supervision Authority (KNF) said on its website. KNF suspended operations of Twoja SKOK mid-May and filed for its bankruptcy. At end-March, Twoja SKOK had negative equity of PLN 52.6 million and had over PLN 79 million ...

Locked content KNF denies second motion to postpone Raiffeisen IPO

Financial market regulator KNF dismissed the second Raiffeisen Polbank’s motion to delay its obligation to float the lender on the Warsaw Stock Exchange by end-June this year. “RBI is obliged to carry out the IPO of Raiffeisen Bank Polska by the deadline of June 30, 2017, KNF said. The motion ...

Locked content KNF: insurers with PLN 1.02 bln Q1 profit

Net profit of insurers operating on the Polish market increased to PLN 1.02 billion in Q1 compared to PLN 611.59 million a year earlier. Gross written premiums amounted to PLN 15.95 billion compared to PLN 13.47 billion a year earlier, the Financial Supervision Authority (KNF) reported. Insurance co...

Locked content KNF signs an agreement with Chinese peer

Poland’s Financial Supervision Authority (KNF) and the China Banking Regulatory Commission (CBRC) signed a memorandum of understanding on cooperation between the two institutions. “The current agreement is an update of the agreement signed in 2005. The main goal of the changes is to take into ...

Locked content Raiffeisen suspends works on IPO prospectus

Polish Financial Supervision Authority (KNF) suspended works on the IPO prospectus of Raiffeisen Bank Polska, after the lender filed a motion to do so. The bank remains under a commitment to float 15 percent of its shares on the Warsaw Stock Exchange by June 30, 2017, KNF said. RBI submitted an issu...

Locked content KNF suspends operations SKOK Nike credit union. Files for bankruptcy

Financial market regulator KNF suspended operations of credit union SKOK Nike and filed for its bankruptcy.  At end-March the union had PLN 24.1 million in negative equity, and PLN 124 million in deposits. It had PLN 1.54 million losses on top of PLN 45.6 million in losses from previous years. No ba...

Locked content Raiffeisen asks to delay IPO. KNF denies

According to Bloomberg, the management of the Raiffeisen asked the Polish Financial Supervision Authority (KNF) to postpone the IPO after the end-June date set by KNF, citing uncertainty in the way the FX-denominated loans would be exchanged into PLN-denominated loans, as there are still several opt...

Locked content BGŻ BNP Paribas fails to meet KNF capital goals

WSE-listed BGŻ BNP Paribas saw consolidated Tier 1 ratio of 10.9 percent at the end of April, 0.11 percentage points below the target set by financial market regulator KNF, the bank said in a statement. Group’s TCR of 14.02 percent was 16 percentage points below the target. Standalone capital ...

Locked content KNF: Banking sector profit down in Q1

Poland’s banking sector recorded an aggregated net profit of PLN 2.84 billion in Q1, according to data from the Financial Supervision Authority (KNF), representing a 11.4 percent decline y/y. Net income from banking activity stood at PLN 14.74 billion and increased by 3.8 percent y/y. Banks’ net int...

Locked content KNF suspends Twoja SKOK and files for its bankruptcy

Poland’s financial market regulator KNF suspended operations of and filed for the bankruptcy of credit union Twoja SKOK which deposits amount to PLN 170.3 million. As of March 31, Twoja Skok had negative equity of PLN 52.6 million and PLN 2.7 million loss. Additionally, the credit union had PL...