Banks
BRE Bank lost millions on broker?s
transaction
BRE Bank, one of the largest Polish investments banks, had 17.5 mln zloty in capital market losses after a broker made an improper transaction. It remains unclear how it happened. The case is under investigation by the KPWiG, Polish Securities and Exchanges Commission. The loss won?t impact the bank?s financial results because it will be covered by an insurance policy, the Warsaw-based bank said in a statement. For the last year BRE Bank posted a net income of only 5.5 mln zloty, a year earlier it had a loss of 381 mln zloty.
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