News | BFG
On 12 December 2024, the Court of Justice of the EU (CJEU) announced its judgment in Case C-118/23 on the preliminary questions submitted by the Provincial Administrative Court (WSA) in Warsaw. These questions were raised in connection with the ongoing judicial review of the administrative decision of the Bank Guarantee Fund (BGF)
BGF Information on the CJEU Judgment in Case C-118/23 (Getin Holding and Others)Read more …
On November 12, 2024, the Bank Guarantee Fund, Poland’s Deposit Guarantee Scheme, signed a Memorandum of Understanding (MoU) with its Korean counterpart, the Korea Deposit Insurance Corporation (KDIC). The agreement was signed by Maciej Szczęsny, President of the Management Board of BFG, and Yoo JaeHoon, KDIC Chairman and President, during the Annual
The Bank Guarantee Fund Signs MoU with the Korea Deposit Insurance Corporation (KDIC)Read more …
The Bank Guarantee Fund on 1 August signed a final agreement for the sale of 100% of the shares in VeloBank S.A. (‘Bank’) to Promontoria Holding 418 B.V., which is indirectly owned by Cerberus Capital Management, L.P., the European Bank for Reconstruction and Development (“EBRD”) and the International Finance Corporation (“IFC”, a
Information on the sale of 100% of VeloBank S.A. sharesRead more …
An affiliate of Cerberus Capital Management, L.P. (“Cerberus”) has signed a preliminary agreement to acquire 100% of the shares of VeloBank S.A (the “Bank” or “VeloBank”). Cerberus has offered a total consideration of PLN 1,075 million for VeloBank shares, comprised of PLN 375 million acquisition price and PLN 700 million recapitalization to
Information on preliminary agreement to sell shares of VeloBank S.A.Read more …
Organizing Committee of the BFG Conference “Crisis management in the financial system – stairway to heaven or highway to hell?” informs that the Fund has decided to postpone the conference date. The exact date will be announced at a later date.
Due to the factors beyond our control, in the Fund’s opinion, it
Following launch of the sale process of VeloBank S.A. on June 30, 2023, Bank Guarantee Fund has received non-binding offers and is in the process of evaluating these, concluding Round 1 of the sale process. The next stage of the process will commence in due course with shortlisted investors being invited to
BFG launches the sale process of VeloBank S.A.
VeloBank is a universal bank that offers innovative financial solutions facilitating everyday life for individual customers, small and medium-sized companies, some selected corporations as well as local governments and residential co-operatives, with focus on green energy transition. The BFG owns 51% of VeloBank S.A. shares
On 29 September 2022, the Bank Guarantee Fund adopted a resolution decision for Getin Noble Bank S.A. (“the Bank”). On 30 September 2022, the Fund’s decision was delivered to the Bank. Thus, on that date, the resolution process against Getin Noble Bank S.A. was initiated. Also on that date, the Bank’s capital
