Locked content Polish banking sector stable – KNF head

The Polish banking sector is stable and solvent, with major challenges ahead including the FX loan conversion bill, financial market watchdog KNF President Marek Chrzanowski said during a public finance committee sitting. “The banking sector is liquid, stable and solvent,” Chrzanowski said. “The div...

Locked content Shake-up in the KNF management

Poland’s financial market watchdog KNF let go deputy CEOs Wojciech Kwaśniak and Lesław Gajek and appointed Filip Świtała and Marcin Pachucki in their place. No reason were given for the dismissal. Kwaśniak held the position since 2011, while Gajek took his post three years earlier. Świtała wil...

Locked content KNF suspends Calatrava Capital trading

Polish Financial Supervision Authority (KNF) has suspended indefinitely trading of the Calatrava Capital shares on the Warsaw Stock Exchange and fined the company with PLN 700,000. The company had failed to publish accurate financial statements between 2012-2015. KNF explained that the fine is sever...

Locked content KNF website hacked

Poland’s financial market regulator KNF website has been hacked last week “KNF has identified an attempt of external intrusion in the IT system servicing its website but its internal IT systems are safe,” KNF spokesperson Jacek Barszczewski wrote in a statement. “Internal systems of reporting ...

Locked content Wielkopolska SKOK files for bankruptcy

Financial market watchdog KNF suspended operations and filed for bankruptcy of credit union Wielkopolska SKOK. The credit union had negative equity of PLN 68.6 million and s negative result of PLN 71 million in 2016. Its solvency ratio was at negative 18.7 percent, according to KNF regulations, any ...

Locked content Banking environment in Poland steady in 2016 – KNF

The situation of Polish banks during Q1 – Q3 remained stable, and there has been a strengthening of the capital base of banks, the Polish Financial Supervision Authority (KNF) – Poland’s official financial regulator, which supervises banks, capital markets and insurance institutions – said in a Poli...

NBP should take over financial sector supervision – KNF head

New KNF chairman Marek Chrzanowski believes that the best solution regarding supervision of the financial sector is to transfer this function to the central bank (NBP). In his opinion, the integration of the two institutions will require at least one or two years, so that appropriate regulations can...

Law on spreads would cost banks PLN 9.3 bln – KNF

The Polish Financial Supervision Authority (KNF) estimates that the total costs for banks of implementing the presidential draft law on spreads would be PLN 9.3 billion, the KNF informed in an opinion submitted to the Sejm.

Locked content KNF approves Getin Noble bond prospect for PLN 750 mln

The Polish Financial Supervision Authority (KNF) has approved the prospectus of Getin Noble Bank related to its public offering of bonds issued through a public program for issuing of subordinated bonds with a total nominal value up to PLN 750 million, the company announced. The bonds are being offe...