Current report No. 35/2019

31.05.2019

Decision of the Polish Financial Supervision Authority on the application for issuance of a permit for merger with Idea Bank S.A.

Getin Noble Bank S.A. (the “Bank”, “Issuer”), in reference to the current report No 7/2019 of 17 January 2019, hereby informs that on this date, i.e. 31 May 2019, it was notified that on 31 May 2019, pursuant to Article 124 paragraph 1 and paragraph 2 of the Banking Law, the Polish Financial Supervision Authority (the “Authority”) issued an administrative decision on refusing to issue a permit for the merger of the Bank (as the acquired bank) with Idea Bank S.A. (as the target bank) by way of transfer of the entirety of the Issuer’s assets to Idea Bank S.A. (“Idea Bank”).

In the grounds for its decision, the Polish Financial Supervision Authority stated that the merger of the two banks would lead to meeting the conditions set out in Article 124 paragraph 2 of the Banking Law, i.e. to a breach of the law, to a breach of customers’ interests and to a breach of the security of funds collected by them, in particular in relation to the level of capital that the merged bank would have at its disposal.

In the Authority’s view, based on the evidence collected, the merged bank would not have met the capital requirements set out in Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms plus additional supervisory requirements, and the combined buffer requirements set out in the Act on macro-prudential supervision.

The Issuer informs that obtaining the above-mentioned permit was a fundamental condition for the Bank’s merger with the Idea Bank.

Legal basis: Article 17 paragraph 1 of Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation)