November 7, 2016 / 7:12 AM / a year ago

Poland - Factors to Watch Nov. 7

Following are news stories, press reports and events to watch that may affect Poland’s financial markets on Monday. ALL TIMES GMT (Poland: GMT + 1 hour):


Poland’s largest lender PKO BP beat expectations with higher-than-expected net profit of 768.5 million zlotys ($196.66 million) in the third quarter thanks to the sale of its real estate assets, it said on Monday.


Poland’s largest insurer PZU apart from negotiating the purchase of the country’s second-largest bank Pekao is also consider buying Pekao’s asset management business Pioneer Pekao and Pekao PTE pension fund, Parkiet daily said without naming its sources.


Japanese firm Mabuchi plans to invest 360 million zlotys ($92.14 million) in a plant in Poland that will produce electric engines car industry and employ about 400 people, Puls Biznesu reported.


The net profit of financial group Getin Holding fell to 36.6 million zlotys in the third quarter from 46.9 million a year before, Getin Holding said on Monday.


Poland’s largest household appliances producer Amica said it is expecting growth of about 10 percent in Poland this year and a rebound in Russia as oil prices have increased, Amica’s Chief Financial Officer Wojciech Kocikowski told Parkiet daily.


The central bank will publish at 0900 GMT its quarterly report on the situation on Poland’s credit market.


The central bank will publish data on its foreign exchange reserves for October at 1300 GMT.

****Reuters has not verified stories reported by Polish media and does not vouch for their accuracy.****

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