Estonia’s Inbank will enter Polish market

Tallinn, Estonia (©Inbank)

Governor of Ukraine’s central bank may be investigated

In Hungary automotive sector output down 2.5 per cent

Slovaks invest in new cars

Estonia, Poland  

The Estonian financial services company Inbank received the permission from Poland’s regulator for providing banking services on the Polish market, reports LETA agency.

Baltic Course quotes Maciej Pieczkowski, general manager of Inbank’s branch in Poland, saying that “The pillars of our business will be securely automated processes, sales through web channels and selected partners, and good service standards.” According to Pieczkowski, it is a favorable time for a new bank branch to start operating in Poland. “The Polish economic environment is largely characterized by positive factors: the forecasted 3% economic growth, an increase in consumer confidence, rising household incomes and better availability of credits within the low interest rate environment,” he said.

Inbank plans to start operating in Poland in February 2017.

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Ukraine

National Anti-Corruption Bureau of Ukraine (NABU) has started the pretrial investigation against Head of the National Bank of Ukraine Valeriya Gontareva and Head of the Individuals Deposit Guarantee Fund Kostiantyn Vorushylin, according to the Prosecutor General’s Office Vladyslav Kutsenko. He wrote about it on his Facebook page, as Interfax reports.

Interfax writes that “A copy of an official letter written by the Prosecutor General’s Office of Ukraine (PGO) in its address to people’s deputy Serhiy Sobolev says: NABU has included bulletins into the Unified Register of pretrial investigations and started a pretrial investigation into the grounds of a criminal offense (abuse of powers by authorized persons providing public services) of the Criminal Code of Ukraine.”

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Hungary

Output of Hungary’s automotive sector fell by 2.5 per cent in November 2016, y/y. Daily News Hungary reports, based on the Statistical Office (KSH) data, that country’s overall industrial output was up by an annual 0.6 per cent in November, after a 2.1 per cent decrease in October.

The workday-adjusted index was the same as the unadjusted one for both months. In a month-on-month comparison, industrial output grew by 0.9 per cent in November, adjusted for seasonal effects and the number of workdays. The increase followed two months of decline.

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Slovakia

Meanwhile Slovaks have been spending more in shops and they have now decided to invest in new cars. Spectator reports that the results for the first 11 months of 2016 indicate that sales of new cars will be the highest since 2010.

Car dealers report that in November alone they sold almost 87,000 cars. This is up from 70,951 cars sold in November 2010, i.e. the year from which the Automotive Industry Association (ZAP) collects data in a unified way, the Hospodárske Noviny economic daily reported.

“People are more willing to invest in consumer durables that burden the family budget more, for example a car,” analyst with UniCredit Bank, Ľubomír Koršňák, explained.

There are 2.95 million registered cars in Slovakia.

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What’s up in indexes

BUX (of Budapest) decreased from 32,972.00 index points Wednesday, January 11th, to 32,960.00 index points Thursday, January 12th. It was down 0.02 per cent d/d and up 35.65 per cent y/y.

BET (of Bucharest) decreased from 7,236.34 index points Wednesday, January 11th, to 7,189.29 index points Thursday, January 12th. It was down 0.66 per cent d/d and up 9.46 per cent y/y.

PX (of Prague) increased from 927.93 index points Wednesday, January 11th to 982.89 index points Thursday, January 12th. It was up 0.10 per cent d/d and up 1.01 per cent y/y.

WIG20 (of Warsaw) decreased from 2,030.64 index points Wednesday, January 11th to 2,022.95 index points Thursday, January 12th. It was down 0.38 per cent d/d and up 15.56 per cent y/y.

OMXT (of Tallinn) increased from 1,088.09 index points Wednesday, January 11th to 1,088.81 index points Thursday, January 12th. It was up 0.07 per cent d/d and up 21.82 per cent y/y.

OMXR (of Riga) increased from 738.02 index points Wednesday, January 11th to 740.15 index points Thursday, January 12th. It was up 0.15 per cent d/d and up 21.97 per cent y/y.

OMXV (of Vilnius) increased from 562.84 index points Wednesday, January 11th to 563.67 index points Thursday, January 12th. It was up 0.15 per cent d/d and up 15.86 per cent y/y.

SAX (of Bratislava) increased from 317.64 index points Wednesday, January 11th to 318.12 index points Thursday, January 12th. It was up 0.15 per cent d/d and up 8.55 per cent y/y.

SOFIX (of Sofia) decreased from 610.99 index points Wednesday, January 11th to 607.33 index points Thursday, January 12th. It was down 0.60 per cent d/d and up 33.68 per cent y/y.

UX (of Kiev) increased from 807.63 index points Wednesday, January 11th to 828.75 index points Thursday, January 12th. It was up 2.62 per cent d/d and 25.21 per cent y/y/.

CROBEX (of Zagreb) decreased from 2,078.74 index points Wednesday, January 11th to 2,069.59 index points Thursday, January 12th. It was down 0.44 per cent d/d and up 27.03 per cent y/y.

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