Brief: Poland's KNF Opposes Getin Noble Bank, Idea Bank Merger

Getin Holding SA

03/06/2019 06:07

June 3 (Reuters) - Getin Noble Bank SA  GNB.WA :
    * SAID ON FRIDAY THAT POLISH FINANCIAL REGULATOR KNF HAS NOT
APPROVED MERGER OF GETIN NOBLE BANK AND IDEA BANK (ACQUIRER)
    * SAID THAT IN ITS JUSTIFICATION KNF NOTED THAT THE MERGER
OF THE
TWO BANKS WILL LEAD TO VIOLATION OF LAW, CLIENTS' INTERESTS AND
THE SECURITY OF THEIR DEPOSITS, IN PARTICULAR DUE TO THE LEVEL
OF CAPITALS OF THE MERGED BANK
    * SAID THAT ACCORDING TO KNF, THE MERGED BANK WOULD NOT MEET
CAPITAL REQUIREMENTS 
    * OBTAINING THE APPROVAL WAS A PRIMARY CONDITION, WHOSE
FULFILMENT
THE MERGER OF THE BANK AND IDEA BANK WAS DEPENDED ON

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM1fY6Z3a
    
 Further company coverage:  GNB.WA  
   


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