KNF suspends SKOK Jowisz

As of April 22, the Polish financial watchdog KNF suspended operations of savings & loan institution SKOK Jowisz and filed a motion for the firm's bankruptcy, the KNF said in a statement. SKOK Jowisz deposits' value reached PLN 82.5 million. A bankruptcy motion, filed by KNF, constitutes the basis for launching payments of guaranteed funds from the banking guarantee fund BFG. SKOK Polska recorded a PLN 46.2 million net loss in 2015 and PLN 65.9 million in losses carried forward from previous years.