POLISH FINANCIAL REGULATOR SAYS RAIFFEISEN MAY SPIN-OFF POLISH UNIT POLBANK ONLY WITHOUT ITS SWISS-FRANC MORTGAGE PORTFOLIO

May 24 Poland’s financial regulator KNF said on Tuesday it has given Austria’s Raiffeisen Bank until the end of 2016 to sell its Polish unit and if it can’t find a buyer it must list a stake next year.

When Raiffeisen bought the bank, Raiffeisen Polbank IPO-RBP.WA, in 2012 it agreed with the regulator to list at least a 15 percent stake by the end of June 2016 in an initial public offering. Since then it decided to sell the bank because it needed the money. Read more…

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