Bloomberg News

Getin Noble Bank Shares Rise on Plans to Sell Bad Loans

June 29, 2012

Getin Noble Bank SA (GNB)’s shares rose to a seven-week high on reports the lender plans to sell a portfolio of bad loans.

The stock rose 4.8 percent to 1.75 zloty by 10:54 a.m. in Warsaw, the highest intraday level since May 11, valuing the company at 4.18 billion zloty ($1.23 billion). This compares with 0.8 percent gain in the country’s benchmark WIG20 index.

The bank controlled by a Polish billionaire Leszek Czarnecki plans to sell non-performing loans worth 426 million zloty, Parkiet newspaper reported today, without saying where it got the information.

To contact the reporter on this story: Marta Waldoch in Warsaw at mwaldoch@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net


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