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The Warsaw Voice » Business » September 25, 2018
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Idea - Getin Noble merger
September 25, 2018   
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Tobiasz Bury
Idea Bank is now short PLN 100 million in capital to its solvency requirement and the group by PLN 300 million. A decision on a possible merger with Getin Noble Bank will be out in several weeks.
Idea Bank suffered its over PLN 400 million Q2 net los on account of a series of problematic product sales over recent history, where provisions were crated for refunds or claims.
The list includes PLN 60 million in provisions on bonds and securitization funds of defunct debt collector GetBack, PLN 175 million from bank assurance, including PLN 75 million on policies tied to loans.
The bank will resign from those products and return to a focus on pure banking products for SMEs, Tobiasz Bury, the bank's CEO, said. Profits in coming periods will return to levels seen prior to this year, he added.
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