Getin Noble Bank files for a repair plan

Getin Noble Bank has filed to the financial market regulator for approval of a repair plan after having posted a net loss of PLN 195 million in the fourth quarter of 2015 attributed to "external burdens not related to the banks operating business," the Polish Press Agency (PAP) said. The bank hopes that the new strategy and the repair plan will increase the bank's profitability and business efficiency and will allow for risk diversification. Traditionally such repair procedure lasts for at least three years. According to the new law, the approval of the program by KNF will exempt the bank from the banking tax.