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Getin Noble Bank says share issue an option only
November 16, 2015 / 8:36 AM / 2 years ago

Getin Noble Bank says share issue an option only

WARSAW, Nov 16 (Reuters) - Poland’s sixth lender by assets, Getin Noble Bank, is likely to meet the financial regulator’s new capital requirements in the first half of 2016, and the planned share issue is just an emergency option, Getin’s head said on Monday.

“Around June 30 we should even exceed expected levels of capital ratios,” Getin Noble’s Chief Executive Officer Krzysztof Rosinski said during a teleconference with reporters.

Rosinski said that the bank, which has one of the biggest Swiss franc-denominated mortgages portfolio, wants to sell part of the assets, also non-performing, issue subordinated debt, and take advantage of temporarily surplus equity in subsidiaries.

“If it is not enough, or the zloty significantly weakens against the Swiss franc, we called the shareholders meeting (to approve a 240 million zloty share issue). We treat it as a backup option,” Rosinski said. ($1 = 3.9477 zlotys) (Reporting by Jakub Iglewski; Writing by Marcin Goclowski; Editing by Wiktor Szary)

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