March 12, 2015 / 7:12 AM / 3 years ago

Poland - Factors to Watch March 12

Following are news stories, press reports and events to watch that may affect Poland’s financial markets on Thursday. ALL TIMES GMT (Poland: GMT + 1 hour):

SWISS FRANC

Polish financial regulator head Andrzej Jakubiak has criticised banks’ proposition to set up the funds that would help holders of Swiss franc-denominated mortgages that suffer from the currency rate rise, saying the offer is good for lenders mainly, Rzeczpospolita daily quoted Jakubiak as saying.

GLOBAL CITY HOLDINGS

Polish pension funds say the price main shareholder offers in a buy-back procedure for the cinema network Global City Holding shares is too low, according to Rzeczpospolita daily. The Greidinger family wants to de-list the company from Warsaw.

BOGDANKA

Polish coal miner Lubelski Wegiel Bogdanka said its net profit fell 3.4 percent to 101 million zlotys ($25.8 million) in the fourth quarter due to lower coal prices, with the result coming above analysts expectations.

TAURON

Tauron, Poland’s second largest utility, on Thursday reported a 43-percent rise in its fourth-quarter net profit to 132 million zlotys, in line with analysts’ expectations, mainly due to higher energy prices.

BOND TENDER

Poland will offer 3-4 billion zlotys ($0.8-$1 bln) in Treasury bonds due January 2024, July 2025 and April 2028 at a Thursday tender.

ENERGY INDUSTRY

Poland will unveil details of its plan to consolidate the country’s four biggest power firms - PGE, Tauron, Enea and Energa - by mid-2015, the treasury minister supervising the industry told Reuters.

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