KNF to view Pekao SA as systemically important

The Committee of Financial Supervision  (KNF) decided to submit a motion to the Financial Stability Committee to express an opinion in the matter of recognizing the lender Pekao SA  as an systemically important institution, the bank reported. As a systemic institution, Pekao would have a buffer imposed on itself equivalent to 0.75 of the total amount of risk exposure. Recently, the KNF took similar steps regarding the PKO BP bank, Getin Noble Bank, ING BSK, BNP Paribas, BZ WBK and Bank Handlowy. As of August 12 the bank had not received any information when would the buffer be imposed nor its influence on the bank's capital ratio. Pekao SA has been one of the biggest banks in the CEE region for 80 years. Listed on the WSE since 1998, it has been part of the UniCredit group since 1999.