Getin Noble Bank (GNB)

1.42PLN
0.00% 11:30

Current report 94/2014

23.10.2014

RESIGNATION OF THE SUPERVISORY BOARD MEMBER

The Management Board of Getin Noble Bank S.A. („Issuer”) hereby informs that Moody’s Investors Service („Agency”) affirmed Ba2/Not-Prime long- and short-term deposit ratings of the Issuer and maintained the negative outlook. At the same time, the Agency affirmed the Issuer’s standalone bank financial strength rating (BFSR) of D-, which is equivalent to a baseline credit assessment (BCA) of ba3, and changed its outlook to negative from stable.

The Agency says that the change in outlook is the result of the Issuer’s persistent asset quality and profitability challenges against the backdrop of the increasing external risks that pose challenges to Poland’s growth expectations.

At the same time the Agency states that the Issuer’s deposit ratings reflect the Agency’s current view on the probability of systemic support based on the Issuer’s nationwide retail network presence and more importantly Agency’s estimated 5.5% market share in loans and 6.2% share in deposits for the Issuer.

The methodology used in this rating is available at the Agency’s website: www.moodys.com, in the category: "Research & Ratings”, subcathegory: “Rating Methodologies”.

Legal basis: §5 (1)(26) of the Minister of Finance Regulation of 19 February 2009 on current and periodic reporting by issuers of securities and the rules of equal treatment of the information required by the laws of non-member states (Journal of Laws of 2009 No. 33, item 259 with later amendments).