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Poland

Poland: BGZ Bank Taken Over by BNP Paribas

Polish BGZ Bank will be taken over by French BNP Paribas for a selling price of around € 1bn.

December 5, 2013

Poland: Benchmark Rate Remains Unchanged

The Polish National Bank (NBP) holds the reference rate at its record low of 2.5%.

December 4, 2013

Poland: GDP Growth Speeds up

The long-awaited economic recovery starts to accelerate in Poland.

December 2, 2013

Polish Economic Growth Boosted by Exports

Due to the growing exports, Poland´s GDP accelerated in the third quarter.

November 29, 2013

VIG: „We Will Clean Up Merciless“

Yesterday, the Austrian insurance group VIG (Vienna Insurance Group) published surprisingly bad results. In Italy and Romania, VIG has a lot of work to do.

November 28, 2013

CESEE: Slight Growth Acceleration, but Uncertainties Persist

The Vienna Institute for International Economic Studies (wiiw) has published the economic forecast for the CESEE region today. The economic performance varies substantially from country to country.

November 28, 2013

Poland Looking for Investors for PHN

Polish real estate group PHN (Polski Holding Nieruchomości S.A.) is searching for an investor.

November 28, 2013

Vienna Insurance Group: Net Income to Fall

The biggest Austrian insurance group is anticipated to post lower profits.

November 27, 2013

Poland: Szczurek Calls for Radical Tax Reform

Poland´s designated Minister of Finance Mateusz Szczurek wants the change the current Polish tax system fundamentally.

November 26, 2013

CESEE: Austrian Banks Face New Challenges

For Austrian banks, the assessment by the ECB may bring new difficulties. Non-performing loans in CESEE are said to be higher than officially known.

November 26, 2013

Poland: IMF Corrects Growth Forecast Upward

Growth forecasts for next year were increased by 0.3 percent by IMF.

November 25, 2013

Szczurek: EU Funds to Create Growth

Poland´s designated Minister of Finance Mateusz Szczurek explained that EU contributions will be used to support Polish GDP growth.

November 23, 2013

Szczurek Stresses Importance of Balanced Fiscal Policy

Poland´s new Minister of Finance Mateusz Szczurek underlines the importance of a fiscal stability.

November 21, 2013

Poland: Reshufflement at Government

A major reshufflement is currently under way at the Polish government.

November 20, 2013

PKO to Take over Nordea Bank Polska

The biggest Polish Bank PKO Bank Polski will submit an offer to the minority shareholder of Nordea Bank Polska

November 19, 2013

Nowotny: Must Avoid Bubble in CESEE

In order to avoid another asset bubble like in 2008, loan growth has to be monitored, governor of Austrian National Bank Ewald Nowotny says.

November 19, 2013

Poland: Economy Accelerates Visibly

In the third quarter of 2013, Poland´s GDP growth reached 1.9%. In the EU, Poland´s growth rate is only beaten by the Baltic countries.

November 15, 2013

Poland: PZU Surpasses Results in 3Q

With results increasing by almost 65 percent on a quarterly basis, Poland’s biggest insurer has exceeded all expectations.

November 15, 2013

Poland: Improvements at Banking Sector Not Expected

Next year’s results in the banking sector are not expected to exceed the ones in 2013.

November 15, 2013

Poland: Corporate Bankruptcies Decreasing

The number of commercial bankruptcies is declining, according to data by Coface.

November 13, 2013

CESEE: Economic Turnaround Ahead

Ruchir Sharma, fund manager at Morgan Stanley stresses that Central, Eastern and Southeastern Europe is more attractive than the BRICS countries.

November 12, 2013

Poland: Favorable Economic Outlook

According to the European Bank for Reconstruction and Development (EBRD), the Polish economy will see an upswing next year.

November 12, 2013

UniCredit: Net Income Driven By CESEE

Italian UniCredit Group´s quarterly net income was down by 40%. Losses in Italy could be more than offset by the results in Poland and Bank Austria´s contributions.

November 11, 2013

Poland: Solid Banking Sector

According to the European Bank for Reconstruction and Development, the perceived regulation pressure is too high for Poland´s banking sector.

November 9, 2013

BNP Shows Interest in Taking Over Polish BGZ

In the race for the Polish lender BGZ, the biggest French bank BNP Paribas enters the stage.

November 8, 2013

Unequal Retail Real Estate Investment Activity in CESEE

While investments in retail real estate in Bulgaria see an upturn, those in Romania have dropped immensely by more than 50 percent.

November 8, 2013

Poland´s National Bank Holds Interest Rate Flat

In order to boost economic growth, the Polish Monetary Policy Council has left the interest rate unchanged.

November 6, 2013

Banking Sector Reduces Lending

Instead of offering loans to the corporate sector, banks tend to invest in sovereign bonds. The CESEE region is particularly affected by this.

November 6, 2013

CESEE Region: Booming Exports Prevent Recession

The underlying reason for the improving economic sentiment in the CESEE region is the expanding industrial sector. However, the region remains vulnerable to foreign trade and foreign investments.

November 5, 2013

Slovak Banking Industry Records Growing Net Income

In the first nine months of 2013, Slovakia´s banking sector recorded a total net profit of € 449m.

November 1, 2013

Visegrad Countries Encourage Western Balkans to Join EU

Representatives from Poland, the Czech Republic, Slovakia and Hungary support the EU accession of Western Balkan countries.

October 31, 2013

Prosperity Index: Poland Moves Upwards

Above all, Poland´s strengths are seen in the fields of security and safety.

October 31, 2013

Immofinanz to Build Shopping Center in Poland

With Warbud SA, the general contractor, listed real estate company Immofinanz will establish a shopping center for around € 95m in Poland.

October 30, 2013

CESEE: Poland is Most Business-Friendly

According to the latest “Doing Business” report published by the World Bank, Poland is the most business-friendly country in the CESEE region.

October 29, 2013

BGZ: Santander Aims to Expand into Poland

In order to complete its local affiliate Bank Zachodni WBK, Spanish Santander intends to take over the Polish lender BGZ.

October 29, 2013

CESEE: „The Growth Model Was not Sustainable“

Franz Seiringer, economist at EBRD, underlines that the CESEE countries are on the right track. The region is working on a new growth model, he told “Wirtschaftsblatt”.

October 29, 2013

Poland: T-Bonds not to Affect Budget Deficit

According to GUS, next year’s budget deficit will not be impaired by the transfer of treasury bonds and other assets.

October 28, 2013

Record Profit at Zachodni Bank

The third-largest Polish lender has published the results for the third quarter. Net results are well above the estimates.

October 25, 2013

Poland: Key Rate to Remain Low

In order to support the positive growth trend, the Polish National Bank (NBP) will keep the key rate flat next year. Poland´s economic growth is mainly based on foreign demand, though.

October 24, 2013

“We Need to Pull Down the Iron Curtain in Our Heads“

In an interview with Austrian daily “WirtschaftsBlatt“ Johannes Seiringer, Director of the Austrian office of the European Bank for Reconstruction and Development (EBRD) calls for incentives for enterprises to continue investing in CEE.

October 24, 2013

Polish Holding to Take over Romanian International Bank

According to Mediafax newswire, Polish Getin Holding will take over Romanian International Bank (RIB).

October 24, 2013

Poland Intends to Keep Banking Sector Small

The Polish financial regulator intends to keep the frequency of bank shops low and avoid risks and bailout by this.

October 23, 2013

Public Debt: CESEE Countries Below EU Average

At the end of the first half of 2013, the EU public debt quota reached 86.8% of GDP. Western Europe´s public debt level is significantly higher than in Eastern Europe.

October 23, 2013

Poland: Economy Below Potential

In the first half of 2013, investments dropped significantly. Consumption was up moderately. In total, Poland´s economic growth accelerates gradually.

October 22, 2013

Amazon to Open Distribution Centers in the Czech Republic

The world’s largest online retailer Amazon plans to create 10,000 jobs in the Czech Republic within the next three years.

October 22, 2013

Poland: IMF Upgrades Growth Forecasts

According to the IMF, Poland´s GDP growth will reach 2.4%. In the prior forecast, the IMF anticipated a 2.2% growth rate.

October 21, 2013

Polish Real Estate: Prices on the Fall

In the last twelve months, the price of Polish apartments has fallen moderately.

October 20, 2013

IMF Warns of Financial Instability in CESEE

Due to the high non-performing loan quota and the deleveraging of Western banks, the countries of Central, Eastern and Southeastern Europe are still far from financial stability.

October 18, 2013

„Czech Republic Does Not Fully Use Its Potential“

Czech Prime Minister Jiri Rusnok thinks that the performance of the Czech economy is not dramatically bad. However, the Czech Republic must use its opportunities more effectively.

October 17, 2013

Austria: RBI Expects Stabilization

Business in CEE seems to be in an up again. RBI is preparing for an IPO at the Warsaw stock exchange.

October 17, 2013
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