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The Warsaw Voice » Business » February 14, 2014
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PKO BP seeks regulatory approval for setting up mortgage bank
February 14, 2014   
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Bank PKO BP filed a motion with the financial market regulator KNF with regard to its plans of setting up a mortgage bank, expected at the turn of 2014 and 2015, the bank said in a press statement.

PKO BP will seek to sell up to 30% of mortgages through the mortgage bank, the bank said, confirming earlier plans. The bank is also considering transferring a part of the existing mortgage portfolio of the parent to the new unit.

The unit will be predominantly financed with mortgage-backed bonds addressed to institutional investors, mainly on the domestic market, the statement read. The first issue could take place in 2015.

The unit will be called PKO Bank Hipoteczny.
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