Polish banks currently trade on the Warsaw Stock Exchange at an average of 1.3x book value.Д«PH's market value fell 37%В in 2015 on the back of theВ uncertainty over its Swiss-franc mortgage portfolio. вЂњThe likelihood of the potential transaction to sell BPH achieving the bankвЂ™s net book value is small,вЂќ Bank BPH said in a statement. The Polish banking sector reported aВ 25% drop in profitabilityВ in 2015, and the outlook for 2016 is far from rosy. However,В AliorВ is still likely to pushВ for a discount.

The scheme, focused onВ Swiss franc mortgages, is likely to cost tens of billionsВ of although the government is thought likely to try to lower the tab somewhat from the original proposal.Д«PHвЂ™s CHF loans portfolio is said to be excluded from the sale, as GE faces internal pressure to sell. However, the main unknown is a forthcomingВ bill to make the banks take a hit on the conversion of loans. Profitability is suffering due to record low interest rates, while lenders have been forced to bear extra costsВ to funds guaranteeing theВ stability of the financial system. , 3 blinks 3) and write down the number in the. The massive uncertainty plaguing PolandВ number of adverse conditions has all but halted M&A deals. Highlight / Show only codes for: DirecTV GE OneForAll Philips RCA Spectrum x. The insurer paused the effort last year, however,В unable to agree on valuation with BPH, and likely RaiffeisenВ Bank International's local unitВ Polbank also -В over the past 18 months or so. GE has been trying to sell BPH since 2014, with Alior Bank вЂ“ in whichВ PZU is the largest stakeholder at 25% - reported in final stage talks to buy the lender.В State-run insurer PZU isВ reviving a push to build a large banking group as part of a state strategy to вЂњrepoloniseвЂќ the sector, according to reports. TheВ bank said it is unlikely to yield a price larger than book value. The lender said the action came afterВ takingВ note of GE's concernsВ over the valuation of the bank, as the US giant looks to finally offload the asset. General Electric (GE) hasВ written off PLN916mnВ (в‚¬215mn)В of goodwill at itsВ Polish unit Bank BPHВ as it pushes to agree a valuation and complete the sale of the lender, the bank announced on March 21.Д«PH wrote off PLN761mnВ on aВ group level - which includes two asset management companies -В and PLN155mn on aВ bank level, it said.

Ge writedown