KNF to identify Getin Bank as systemic financial institution

The Committee of Financial Supervision  (KNF) decided to submit a motion to the Financial Stability Committee "for expressing an opinion in the matter of recognizing the Bank as other systemically important institution," Getin Noble Bank reported. As a systemic institution, GNB would have a buffer  imposed on itself equivalent to 0.25 percent of total amount of the risk exposure. Recently, the KNF took similar steps regarding the PKO BP bank. Getin Noble Bank has been formed in a merger of the Getin Bank and the Noble Bank in 2010. It is listed on the Warsaw Stock Exchange and ranks 6th in terms of value of assets in Poland.