Edition:
United Kingdom

Idea Bank SA (IDE.WA)

IDE.WA on Warsaw Stock Exchange

2.04PLN
22 Aug 2019
Change (% chg)

-- (--)
Prev Close
2.04zł
Open
--
Day's High
--
Day's Low
--
Volume
--
Avg. Vol
172,121
52-wk High
9.68zł
52-wk Low
1.62zł

Latest Key Developments (Source: Significant Developments)

UOKIK Says Idea Bank Misselled Getback Bonds To Customers
Thursday, 1 Aug 2019 

August 1 (Reuters) - UOKIK (POLAND'S ANTI-MONOPOLY OFFICE)::SAYS THAT IDEA BANK <<>> HAS MISLEAD CUSTOMERS WHEN SELLING THEM GETBACK <<>> BONDS.SAYS THE BONDS WERE PRESENTED AS A SAFE INVESTMENT OPTION THAT GUARANTEED ANNUAL PROFIT WITHOUT RISK.SAYS THE ANALYSIS OF THE GATHERED EVIDENCE IS STILL UNDERWAY, YET THE PARTIAL DECISION THAT UOKIK HAS ISSUED MAY HELP CUSTOMERS IN PURSUING THEIR CLAIMS.SAYS IF THE ALLEGATIONS AGAINST IDEA BANK ARE CONFIRMED, THE BANK MAY BE CHARGED WITH A FINE THAT CONSTITUTES 10% OF ITS TURNOVER AND BE OBLIGED TO REMOVE THE EFFECTS OF ITS UNFAIR BUSINESS PRACTICES.  Full Article

Idea Bank Says KNF Launches Administrative Proceedings Against Bank
Tuesday, 16 Jul 2019 

July 16 (Reuters) - Idea Bank SA ::SAYS POLISH FINANCIAL REGULATOR KNF LAUNCHES ADMINISTRATIVE PROCEEDINGS AGAINST BANK.SAYS PROCEEDINGS REGARD IMPOSING FINANCIAL PENALTY ON BANK RESULTING BREACH OF ITS STATUTE AND BANK LAWS.  Full Article

Idea Bank To Book About 25.9 Mln Zloty Provision For Restructuring Costs
Friday, 12 Jul 2019 

July 12 (Reuters) - Idea Bank SA ::RESOLVES TO BOOK ABOUT 25.9 MILLION ZLOTY PROVISION FOR RESTRUCTURING COSTS.SAYS PROVISION DOES NOT INCLUDE COST OF EMPLOYMENT REDUCTION OF ABOUT 9.2 MILLION ZLOTYS.SAYS PROVISION TO IMPACT ITS FINANCIAL RESULT AT JUNE 30.  Full Article

Poland's KNF Opposes Getin Noble Bank, Idea Bank Merger
Friday, 31 May 2019 

June 3 (Reuters) - Getin Noble Bank SA ::SAID ON FRIDAY THAT POLISH FINANCIAL REGULATOR KNF HAS NOT APPROVED MERGER OF GETIN NOBLE BANK AND IDEA BANK (ACQUIRER).SAID THAT IN ITS JUSTIFICATION KNF NOTED THAT THE MERGER OF THE TWO BANKS WILL LEAD TO VIOLATION OF LAW, CLIENTS' INTERESTS AND THE SECURITY OF THEIR DEPOSITS, IN PARTICULAR DUE TO THE LEVEL OF CAPITALS OF THE MERGED BANK.SAID THAT ACCORDING TO KNF, THE MERGED BANK WOULD NOT MEET CAPITAL REQUIREMENTS .OBTAINING THE APPROVAL WAS A PRIMARY CONDITION, WHOSE FULFILMENT THE MERGER OF THE BANK AND IDEA BANK WAS DEPENDED ON.  Full Article

Idea Bank To Pay 22.1 Mln Zlotys To Resolution Fund In 2019
Thursday, 18 Apr 2019 

April 18 (Reuters) - IDEA BANK SA ::SAID ON WEDNESDAY IT IS TO PAY 22.1 MILLION ZLOTYS TO BANK GUARANTEE FUND IN 2019.THE AMOUNT WILL BE BOOKED AS COSTS IN Q1.  Full Article

Idea Bank Admits Selected Private Equity Funds To Due Diligence Process
Friday, 1 Feb 2019 

Feb 1 (Reuters) - Idea Bank SA ::SAYS ADMITS SELECTED PRIVATE EQUITY FUNDS TO DUE DILIGENCE PROCESS AND STARTS TALKS ON STRUCTURE OF POSSIBLE TRANSACTION AIMED AT ATTRACTING FINANCIAL INVESTOR.  Full Article

Getin Noble Bank And Idea Bank Agree On Terms Of Merger
Thursday, 17 Jan 2019 

Jan 17 (Reuters) - Getin Noble Bank Sa ::AND IDEA BANK AGREE ON TERMS OF MERGER.ON MERGER DAY, GETIN NOBLE BANK'S SHAREHOLDERS WILL BECOME SHAREHOLDERS OF IDEA BANK.BANKS AGREE SHARE EXCHANGE RATIO OF 0.185 IDEA BANK SHARES FOR 1 GETIN NOBLE BANK SHARE.TRANSACTION IS EXPECTED TO CLOSE IN Q3 2019.SEES SYNERGY POTENTIAL WITH CUMULATED PRE-TAX COST SYNERGIES IN 2019-2021 OF 370 MILLION ZLOTYS.SEES FULLY PHASED PRE-TAX ANNUAL COST SYNERGIES OF 180 MILLION ZLOTYS BY 2021.SEES TOTAL INTEGRATION COSTS AMOUNTING TO 220 MILLION ZLOTYS PRE-TAX.SEES COST SYNERGIES THROUGH: CONSOLIDATION OF HEADQUARTERS, OPTIMIZATION OF OVERLAPPING BRANCHES, IT INTEGRATION.SEES MERGER TO STRENGTHEN CAPITAL POSITION, SEES RETURN TO PROFITABILITY.  Full Article

Getin Noble Bank, Idea Bank To Search For Potential Investor
Thursday, 13 Dec 2018 

Dec 13 (Reuters) - GETIN NOBLE BANK SA , IDEA BANK SA ::MANAGEMENTS OF BOTH GETIN NOBLE BANK AND IDEA BANK RESOLVE TO SEARCH FOR FINANCIAL INVESTOR.SAY PLAN TO COMPLETE ANALYSIS OF POSSIBLE MERGER BETWEEN BANKS IN JAN 2019.POTENTIAL INVESTOR COULD RECAPITALISE BANKS OR ALTERNATIVELY BANK CREATED AFTER MERGER OF GETIN NOBLE BANK WITH IDEA BANK.  Full Article

Getin Noble Bank: Deposit Outflows Back To Normal Levels - CEO
Wednesday, 28 Nov 2018 

Nov 28 (Reuters) - Getin Noble Bank Sa ::THERE'S NO DECISION ON MERGER WITH IDEA BANK <<>> AS YET, WE ARE NOT WITHDRAWING FROM THE PROCESS, BANK'S CEO, ARTUR KLIMCZAK, SAYS.FUND OUTFLOWS BACK TO NORMAL LEVELS - CEO.  Full Article

NBP Discharges Idea Bank From Maintaining 50% Of Required Reserve
Tuesday, 20 Nov 2018 

Nov 20 (Reuters) - Idea Bank SA ::SAYS RELEASE FROM OBLIGATION TO MAINTAIN 50% OF REQUIRED RESERVE TO LAST FROM NOV 19, 2018, UNTIL END-2021 .POLAND'S NATIONAL BANK (NBP) RESOLVES TO ALLOW IDEA BANK NOT TO MAINTAIN 50% OF REQUIRED RESERVE.  Full Article

UPDATE 1-Polish bank to fire up to half of its staff

WARSAW, June 19 Polish mid-tier lender Idea Bank SA plans to cut its workforce by half this year to cut costs and boost profits, it said on Wednesday.