According to the announcement, the PLN 20 million penalty imposed by the Polish Financial Supervision Authority on Leszek Czarnecki is the effect of the fact that the entrepreneur failed to meet his obligations and did not provide Getin Noble Bank liquidity. LC Corp BV was fined for the same.
According to the KNF announcement, both LC Corp representatives and Leszek Czarnecki signed a commitment to ensure a situation in which “liquidity Get Bank SA, its capital position and solvency ratio (will – ed.) remained at a satisfactory and stable level so that the Bank would be able to meet its financial obligations. “
Justification of penalties
Meanwhile, despite the deteriorating capital situation of the Bank and the fact that capital ratios remained below the minimum regulatory levels for many months, until the date of the decision, i.e. September 28, 2022, Leszek Czarnecki did not take any steps to improve the financial and capital situation of Getin Noble Bank SA. The investor commitment obliges Leszek Czarnecki to provide the Bank with real capital support in the amount necessary to restore stability and capital adequacy of Getin Noble Bank SA. This could be done through recapitalization by existing shareholders or finding an external investor. This was not the case.
– informed the KNF. The same allegations were made against LC Corp. ” The company is aware of the constantly deteriorating capital situation of the Bank. Despite this, it does not take any steps that would lead to the Bank’s compliance with the capital regulatory requirements. Due to the investor commitment, it is the obligation of LC Corp to be aware of the current situation of the Bank, LC Corp there is an obligation to seek appropriate forms of support for the Bank and to implement them “- we read in the release.
At the same time, the PFSA indicated that Getin’s loss for 2021 amounted to over PLN 1 billion, and “the level of capital ratios did not meet the minimum regulatory requirements”.
And so, TCR at the end of 2021 was 3.2 percent, compared to the required level of 8 percent, and the Tier 1 ratio remained at 2.3 percent, compared to the required level of 6 percent. The profit disclosure at the end of the first quarter of 2022 did not improve the key indicators.