http://www.brebank.pl/en/Welcome in BRE Bank RSS ChannelENCopyright BRE Bank 2006redakcjaportalu@brebank.plredakcjaportalu@brebank.plThu, 02 Sep 2010 14:09:00 +0200Thu, 02 Sep 2010 14:09:00 +0200AMG.net RSSGeneratorhttp://www.brebank.pl/bre_bank_news/rss/http://www.brebank.pl/images/common/bre_logo_rss.gifhttp://www.brebank.pl/13425Parkiet reports Alior Bank is considering the purchase of Allianz Bank's branches for ca. PLN 28m, i.e. PLN 0.5m per branch.http://www.brebank.pl/en/economic_review/Capital_Market_Stock_Exchange/morning_comments?id=18664Thu, 02 Sep 2010 10:15:00 +0200Yesterday, the NBP published loan quality statistics for the banking industry in July 2010. The share of impaired loans increased by 21bps m/m, to 8.7% of the total, due to a sharp deterioration in the quality of retail loans, by 22bps to 6.9% m/m.http://www.brebank.pl/en/economic_review/Capital_Market_Stock_Exchange/morning_comments?id=18646Wed, 01 Sep 2010 10:15:42 +0200The Chair of the competition watchdog UOKiK, Ms. Małgorzata Krasnodębska-Tomkiel, said in a ratio interview that she saw no serious obstacles to the potential takeover of BZ WBK by PKO BP. This is not a final decision, however. Ms. Krasnodębska-Tomkiel did note that there were areas where the post-merger bank would dominate the market with a ca. 40% share (personal accounts, debit cards).http://www.brebank.pl/en/economic_review/Capital_Market_Stock_Exchange/morning_comments?id=18633Tue, 31 Aug 2010 10:15:51 +0200Getin Noble Bank considers subordinate debt issue; costs of risk to remain high for 6-9 months, but financing costs could decline sharply in Q4 2010.http://www.brebank.pl/en/economic_review/Capital_Market_Stock_Exchange/morning_comments?id=18623Mon, 30 Aug 2010 10:15:33 +0200Kęty’s earnings for Q2 2010 show that aluminum profile and construction joinery sales are reviving. In Q2 2010, Extruded Products increased sales by 43.7% y/y (+24% y/y by sales volume), with an over 80% y/y increase in exports. Sales in Aluminum Systems increased in Poland (+6% y/y), but decreased abroad (-9% y/y). http://www.brebank.pl/en/economic_review/Capital_Market_Trades_and_Companies/Research_Report?id=18589Fri, 27 Aug 2010 16:45:56 +0200PZU affirms 25-45% dividend payout policy, but will consider changes.http://www.brebank.pl/en/economic_review/Capital_Market_Stock_Exchange/morning_comments?id=18620Fri, 27 Aug 2010 10:15:31 +0200Last week Polish bonds were aggressively bid by offshore names which triggered stops at quite obsessed with a negative fiscal story Polish investors (OFE, banks and mutual funds). This week, after only a minor setback at the long end on Monday (10Y bond lost one figure in price), Polish names were literally forced to buy back much then dearer bonds. That is why the Wednesday switch auction saw a decent demand of PLN 4.2bn leading the prices of 10 and 5 year bonds higher. It seems now that fiscal story has suddenly evaporated and Polish bonds do nothing more than co-move with German bunds. One has to acknowledge that from technical perspective Polish long rates seem to be well supported by the lower band of the downward channel. We do not see, however, much support for higher rates from fundamentals and flows. As a matter of fact, due to positive economic growth Polish bonds continuously attract interna-tional yield pickers. In addition, inflation trades have lost their momentum and are very unlikely to be on the agenda before late Autumn (inflation will rise only gradually in August, MPC is neutral at most, as opposed to its Hungarian counterpart it supports the government and is quite happy with the current zloty levels). As the government is very likely to improve on the 45bn 2011 defi-cit figure in September, the market will rather welcome it as a good fiscal news and not contest the mid-term fiscal strategy. So will do the MPC. In short, bullish sentiment towards Polish bonds is going to take its toll in the weeks to come.http://www.brebank.pl/en/economic_review/macroeconomics/poland_weekly?id=18616Fri, 27 Aug 2010 10:08:11 +0200In the week ended 20 August, US crude oil inventories increased by 4.11m bbl, while the consensus forecast foresaw an increase by only 0.3m bbl. The development may be due to increased imports (+3.3% w/w) and a reduction in capacity utilization at refineries (from 90% to 87.7%).http://www.brebank.pl/en/economic_review/Capital_Market_Stock_Exchange/morning_comments?id=18594Thu, 26 Aug 2010 10:15:50 +0200KNF released the banking industry’s profit data for H1 2010. The banks’ aggregate net profit figured to PLN 5.4bn (+22% y/y), which implies PLN 2.9bn in Q2'10 (+14% q/q, +24% y/y).http://www.brebank.pl/en/economic_review/Capital_Market_Stock_Exchange/morning_comments?id=18586Wed, 25 Aug 2010 10:15:44 +0200According to Bloomberg, the three bidders that submitted their offers for AIB’s 70% stake in BZ WBK before last Friday’s deadline are BNP Paribas, Santander and PKO BP.http://www.brebank.pl/en/economic_review/Capital_Market_Stock_Exchange/morning_comments?id=18587Tue, 24 Aug 2010 10:15:12 +0200