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Bank BPH continues with asset adjustments ahead of planned sale

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Bank BPH continues with asset adjustments ahead of planned sale

announced furtherasset adjustments in relation to the planned demerger and sale of its core business to , with the value ofimpairments amounting to 370 million Polish zlotys at the stand-alone level andan additional 77 million zlotys at the group level.

The banksaid the adjustments will lower its first-quarter results in several areas, andwill also influence its capital adequacy. However, the bank said its capitalposition will remain "safe and stable," with the total consolidatedcapital ratio and Tier 1 ratio remaining above regulatory minimums of 16.02%and 12.33% as of March 31.

Thebank's cash and liquidity positions will also remain stable, the lender noted,adding that its liquidity amounts to around 6 billion zlotys and may be furtherbolstered by a 9 billion zlotys credit line from , which currently controls thePolish unit.

BankBPH earlier said it booked a 916 million zlotys goodwill impairment for 2015.

As of May 10, US$1 wasequivalent to 3.88 Polish zlotys.