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MBank
mBank SA (formerly BRE Bank), set up in 1986, and originally BRE – Bank Rozwoju Eksportu (Export Development Bank), is Poland's fourth largest universal banking group in terms of total assets and loans, and fifth by deposits at the end of September 2016. It offers retail, corporate and investment banking as well as other financial services such as leasing, factoring, insurance, financing of commercial real property, brokerage operations, wealth management, corporate finance and advisory in the scope of capital markets. Since 1992, it has been listed on the Warsaw Stock Exchange. In 2007 it started its retail operations in the Czech Republic and Slovakia. The current mBank CEO is Cezary Stypułkowski. mBank Group mBank Group is composed of: * mLeasing, one of Poland's leading leasing companies * mBank Hipoteczny, Poland's largest mortgage bank * mFaktoring, an invoice factoring business * mCentrum Operacji, a subsidiary providing back office services to other subsidiaries ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mennica Legacy Tower
The Mennica Legacy Tower is a complex of two office buildings in Warsaw, Poland, located at 18 Prosta Street, in the neighbourhood of Mirów, Warsaw, Mirów, within the district of Wola. It includes a 140-metre-tall skyscraper mBank Tower () with 32 storeys, and a smaller 43-metre-tall office building with 9 storeys. It was completed in 2020. History The building complex was designed by Chicago-based architecture firm Goettsch Partners, in cooperation with firm Epstein. It was an joint investment of Golub GetHouse and the Mint of Poland, both of which now have offices in the building. The Warsaw-based construction company Warbud was hired as the general contractor. They were constructed in place of the headquarters builting of Mint of Poland. The construction begun in October 2016. In 2019, the west building was rented entirely by company WeWork. In 2020, most of the east building was rented to mBank, which ten renamed it to the ''mBank Tower'' (). Characteristics The comple ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sławomir Lachowski
Sławomir Mieczysław Lachowski (born January 1, 1958 in Końskie) - Polish economist and banking manager; author of many publications in the field of leadership and management. Education Lachowski graduated with distinction from the Foreign Trade faculty of the Central School of Planning and Statistics in Warsaw (now the Warsaw School of Economics). He also studied economics at the University of Johannes Gutenberg in Mainz (1980/1981 and 1988/1989) and the University of Zurich (1983 to 1984). He completed the Advanced Management Programme at INSEAD (1997) and the Stanford Executive Program (SEP) at Stanford University (2002). Career In the years 1983–1990, he worked as an assistant and senior assistant at the Institute for Economic Development of the Warsaw School of Planning and Statistics, where he was involved in the work of a team led by Leszek Balcerowicz, dealing with the transformation of a centrally planned economy into a market economy. From 1987 to 1992, he was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cezary Stypułkowski
Cezary Stypułkowski is a Polish banker and former politician born in 1956 and the former CEO of mBank (2010–2024), one of Poland's largest banks. Early life and government work Cezary Stypułkowski was born in 1956 in Mrągowo and graduated from High School No. 3 in Olsztyn in 1975. He studied at the Business School of Columbia in New York in the 1980s and earned a doctorate from the Faculty of Law and Administration of the Warsaw University in 1989. Stypułkowski also was a member of the Polish United Workers' Party until 1989. Starting in 1981, he served as an advisor to the minister in the Bureau of Governmental Representative for Economic Reforms. By 1985, he had become an advisor to the president of the Advisory Economic Council and from 1987 to 1988, he held positions as Secretary of the Committee of the Council of Ministers for Economic Reforms and as an advisor to the deputy prime minister. Career For over ten years, from 1991 to 2003, he led Bank Handlowy's Board ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commerzbank
The Commerzbank Aktiengesellschaft (shortly known as Commerzbank AG or Commerzbank ) is a European Financial institution, banking institution headquartered in Frankfurt am Main, Hesse, Germany. It offers services to private and entrepreneurial customers as well as corporate clients. The Commerzbank Group also includes the German brand Comdirect Bank and the Polish subsidiary mBank. As one of the oldest banks in Germany, Commerzbank plays a significant role in the country's economy. It is the largest financier of German foreign trade, with strong ties to the German 'Mittelstand.' In addition, it maintains a presence in all major economic and financial centers worldwide. Since its establishment in 1870, Commerzbank has undergone several changes. It was the first German banking institution to open an operational branch in New York City in 1971. Another milestone was the acquisition of Dresdner Bank in 2009. During the 2008 financial crisis, the Federal Republic of Germany became a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
WIG30
The WIG30 is a capitalization-weighted index, capitalization-weighted stock market index of the thirty major Poland, Polish Blue chip (stock market), blue chip companies traded on the Warsaw Stock Exchange (WSE). The WIG30 index has been published since 23 September, 2013, based on the value of the portfolio of shares of the 30 largest and most liquid companies on the WSE Main Market. The base value of the index was established on December 28, 2012, and amounted to 2,582.98 points. The index is published alongside WIG20 index. WIG30 is a price-type index, which means that when calculating it, only the prices of transactions concluded in it are taken into account, and no dividend income is included. The WIG30 index may not include more than 7 companies from one exchange sector, and the share of one company is limited to 10% in the index. It is computed daily between 09:00 and 17:10 Hours CET. Components The list of the WIG30 companies as of 13 February 2024: Former companie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wojciech Kostrzewa
Wojciech Kostrzewa (; born October 18, 1960) is a Polish manager and entrepreneur. Among other roles, he serves as president of the supervisory board at Alior Bank, member of the board of directors at Stadler Rail, and president of the . Education and academic activity Wojciech Kostrzewa graduated from the Faculty of Economics at the University of Kiel in 1987. He also studied law at the University of Warsaw in 1979–1981. In 1981, together with four other students from Austria, Hungary, and West Germany, he founded the European Law Students' Association (ELSA). In 1984–1991, he worked as a graduate assistant at the University of Kiel and later became a researcher at the Kiel Institute for the World Economy. He published several academic papers on economics and finance. Professional career In 1989–1991, Wojciech Kostrzewa served as an economic advisor to the Polish Finance Minister, Leszek Balcerowicz. In 1990–1995, he was the CEO of the Polish Development Bank (Polski ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
COVID-19 Pandemic
The COVID-19 pandemic (also known as the coronavirus pandemic and COVID pandemic), caused by severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), began with an disease outbreak, outbreak of COVID-19 in Wuhan, China, in December 2019. Soon after, it spread to other areas of Asia, and COVID-19 pandemic by country and territory, then worldwide in early 2020. The World Health Organization (WHO) declared the outbreak a public health emergency of international concern (PHEIC) on 30 January 2020, and assessed the outbreak as having become a pandemic on 11 March. COVID-19 symptoms range from asymptomatic to deadly, but most commonly include fever, sore throat, nocturnal cough, and fatigue. Transmission of COVID-19, Transmission of the virus is often airborne transmission, through airborne particles. Mutations have variants of SARS-CoV-2, produced many strains (variants) with varying degrees of infectivity and virulence. COVID-19 vaccines were developed rapidly and deplo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2008 Financial Crisis
The 2008 financial crisis, also known as the global financial crisis (GFC), was a major worldwide financial crisis centered in the United States. The causes of the 2008 crisis included excessive speculation on housing values by both homeowners and financial institutions that led to the 2000s United States housing bubble, exacerbated by predatory lending for subprime mortgages and deficiencies in regulation. Cash out refinancings had fueled an increase in consumption that could no longer be sustained when home prices declined. The first phase of the crisis was the subprime mortgage crisis, which began in early 2007, as mortgage-backed securities (MBS) tied to U.S. real estate, and a vast web of Derivative (finance), derivatives linked to those MBS, collapsed in value. A liquidity crisis spread to global institutions by mid-2007 and climaxed with the bankruptcy of Lehman Brothers in September 2008, which triggered a stock market crash and bank runs in several countries. The crisis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Libor
The London Inter-Bank Offered Rate (Libor ) was an interest rate average calculated from estimates submitted by the leading Bank, banks in London. Each bank estimated what it would be charged were it to borrow from other banks. It was the primary benchmark, along with the Euribor, for short-term interest rates around the world. Libor was phased out at the end of 2021, with market participants encouraged to transition to risk-free interest rates such as SOFR and SARON. LIBOR was discontinued in the summer of 2023. The last rates were published on 30 June 2023 before 12:00 pm UK time. The 1 month, 3 month, 6 month, and 12 month Secured Overnight Financing Rate (SOFR) is its replacement. In July 2023, the International Organization of Securities Commissions (IOSCO) said four unnamed United States dollar, dollar-denominated alternatives to LIBOR, known as "credit-sensitive rates", had "varying degrees of vulnerability" that might appear during times of market stress. Libor rates w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exchange Rate
In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of the euro. The exchange rate is also regarded as the value of one country's currency in relation to another currency. For example, an Interbank lending market, interbank exchange rate of 141 Japanese yen to the United States dollar means that ¥141 will be exchanged for or that will be exchanged for ¥141. In this case it is said that the price of a dollar in relation to yen is ¥141, or equivalently that the price of a yen in relation to dollars is $1/141. Each country determines the exchange rate regime that will apply to its currency. For example, a currency may be floating exchange rate, floating, fixed exchange rate, pegged (fixed), or a hybrid. Governments can impose certain limits and controls on exchange rates. Countries can als ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan-to-value Ratio
The loan-to-value (LTV) ratio is a financial term used by lenders to express the ratio of a loan to the value of an asset purchased. In real estate, the term is commonly used by banks and building societies to represent the ratio of the first mortgage line as a percentage of the total appraised value of real property. For instance, if someone borrows to purchase a house worth , the LTV ratio is or , or 87%. The remaining 13% represent the lender's haircut, adding up to 100% and being covered from the borrower's equity. The higher the LTV ratio, the riskier the loan is for a lender. The valuation of a property is typically determined by an appraiser, but a better measure is an arms-length transaction between a willing buyer and a willing seller. Typically, banks will utilize the lesser of the appraised value and purchase price if the purchase is "recent" (within 1–2 years). Risk Loan to value is one of the key risk factors that lenders assess when qualifying borrowers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
