Getin Noble Bank to launch a mortgage bank

Getin Noble Bank (GNB), controlled by Polish billionaire Leszek Czarnecki applied to the financial market watchdog KNF for establishing a mortgage bank (named Getin Bank Hipoteczny) which would start operating in 2017, a press release informed. GNB Hipoteczny will focus on servicing and raising funds for the mortgage portfolio acquired from GNB. In the medium-term perspective, the holding is considering adding new products to be offered by the new bank only. The new lender's task will be raising long-term financing by issuing mortgage bonds, the press release read. Getin Noble Bank was established through the merger of Getin Bank and Noble Bank in 2010.