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The Warsaw Voice » Business » April 27, 2018
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Czarnecki remains optimistic about GNB
April 27, 2018   
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Getin Noble Bank should be able to regain profitability this year, Getin's lead shareholder Leszek Czarnecki told Rzeczpospolita daily in an interview.
The bank will focus on further reduction of interest costs, he said. GNB expects no further significant decline of bank's assets. Czarnecki is "very pleased" with bank's management, he also said.
Getin Noble Bank made its significant provisions in 2017 mainly on credits granted prior to 2010, while credits granted in the recent years have a "good risk profile," Czarnecki added.
Czarnecki is ready to support GNB's capital by close to PLN 1 billion, he vowed. This year's PLN 200 million issue will be a public or private issue, depending on market conditions, while next year's PLN 100 million issue will be a public rights issue, Czarnecki specified. Additionally, in 2019 the bank will issue PLN 450 million in AT1 Contingent Convertibles (CoCos) instruments, which he will also guarantee.
Czarnecki expects no need to sell other group assets such as Noble Securities or Idea Bank outside the group.
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