In the information provided by the Polish Financial Supervisory Authority regarding the rejection of the recovery plan prepared by the Board of Directors on December 22 Jiten Noble Bank He noted that this decision was affected, among other things, by the failure to take into account the changes that have occurred in the market in recent months. This involves a legal risk Swiss Franc Loans As a result of the jurisprudence of the courts or the high level of interest rates. The KNF directly wrote that the GNB Board of Directors’ ideas contained in the Recovery Plan Update, which relate, among other things, to financial results or achieving minimum organizational levels “have not been sufficiently justified and substantiated.”
At the same time, the Palestinian Financial Services Authority (PFSA) gave the company four months to create a new refund plan.
The Commission expects that the new recovery plan will focus on making the bank’s capital base more reasonable, improving its economic and financial position and ensuring that capital ratios are rebuilt to a level that meets at least – reasonably, and then in the short term. Minimum regulatory requirements. The new document should focus on presenting the financial position of the bank against the background of current market conditions, taking into account the possible costs of embodying the main risks in the bank’s operations, and on creating a security barrier for unusual events and threats arising from the economic environment. The Committee notes that an essential and integral part of the redemption plan – particularly in the case of a bank that does not meet the regulatory requirements established by law in relation to its capital position – must be categorical declarations from the major shareholder of the bank. Regarding the necessary capital support
Reads an extract from the KNF statement regarding the situation at Getin Noble Bank. In addition, the Financial Supervisory Authority (PFSA) decided to introduce a trustee to the bank associated with Leszek Czarnecki.
Company control officer
“The appointment of the PFSA as a trustee at Getin Noble Bank SA will contribute to supporting the efficient flow of information between the Bank and the Polish Financial Supervisory Authority, primarily in the field of continuous monitoring of the bank’s self-settlement activities, as well as as a preparation by the Bank’s authorities to update – in accordance with the guidelines of the Polish Financial Supervisory Authority – Recovery plan – written in the press release. The coordinator was the Bank Guarantee Fund, which aims to emphasize the importance of the GNB to the financial system. At the same time, the Financial Supervisory Authority emphasizes that the presence of a supervisory officer will not in any way affect the provision of services to the bank’s clients.
company response
Getin Noble has already mentioned the decision of the Polish Financial Supervisory Authority. This was confirmed in an official position “The bank’s board of directors will submit a new recovery plan with a request for approval within the deadline set by the supervisory authority.” He noted that the GNB is implementing the approved recovery plan in 2020. At the same time, it was noted that the update of this plan submitted to the Polish Financial Supervisory Authority was written in the first half of this year, which means that it did not include an indication of the changes that occurred mainly in the second . Mid year.
– The assumptions of the updated payback plan submitted to the office were made in the first half of 2021. In recent months, there have been significant changes at the macroeconomic level that are difficult to predict, and in its context there have been some changes adopted in the above-mentioned report. Document assumptions need to be updated. We are talking here about factors that have a negative impact, in particular on the bank’s capital ratios, such as exchange rates or the market valuation of securities, but also about important changes that have a positive effect on the remedial actions of the bank. First of all, it is necessary to note the rise in interest rates, which the Bank did not expect in the presented update – Artur Klimczak, President of Getin Noble Bank and assured that the company remains in constant contact with the Polish Financial Supervisory Authority and will immediately start work on the new update.
“The document will take into account both new challenges facing the financial sector, as well as opportunities related to, inter alia, digitization and interest rate increases, and its objective will be to provide comprehensive and real measures aimed at rebuilding the bank’s capital ratios within a time acceptable to the supervisory authority. “- the bank emphasized and stressed that the presence of a conduct officer will not change anything for its customers.
Liszek Czernicki and Gettin Noble Bank
Getin Noble Bank is associated with Leszek Czarnecki. This millionaire owns 8.4%. Participate. Another 6.4 percent. belonging to Getin Holding, and 47.84 percent. To LC Corp BV, the Dutch investment firm Czarnecki.
These companies are also related to each other – Leszek Czarnecki controls almost 55 percent. Getin Holding stock, including 34 percent. by LC Corp of the Netherlands, and 10 percent. By Getin Noble Bank.
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