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Getin Noble cancels plans to sell stake in brokerage unit

Poland-based Getin Noble Bank SA withdrew from a deal to sell a 25% stake in fully owned brokerage unit Noble Securities SA to controlling shareholder Leszek Czarnecki.

Getin Noble announced the planned sale in June 2018. The deal, worth 36 million Polish zlotys, was part of its plan to bring capital in line with regulatory requirements.

However, the bank said May 28 that it will not finalize the transaction as it was no longer justified from an economic point of view.

As of May 28, US$1 was equivalent to 3.84 Polish zlotys.