UBS News for Banks and Financial Institutions March 03, 2011

Total Page：16

File Type：pdf, Size：1020Kb

UBS News for Banks and Financial Institutions March 03, 2011 Priority: Urgent – Market: Poland Poland: Change of Custodian UBS Zurich is changing its custodian in the Polish market from SIX SIS AG / Bank Handlowy W Warszawie, Warsaw to Bank PeKAO (UniCredit Group), Warsaw as of trade date March 24, 2011. New settlement instructions Trades with settlement date (SD) until and including March 28, 2011 will be settled with UBS' current sub-custodian Bank Handlowy W Warszawie, Warsaw. Trades with settlement date as from March 29, 2011 need to be submitted with the instruction details of UBS' new custodian Bank PeKAO (UniCredit Group), Warsaw (see below). Settlement instructions (as from SD March 29, 2011) Custodian (NEW) Bank PeKAO, Warsaw SWIFT BIC (NEW) PKOPPLPWCUS SWIFT BIC UBS UBSWCHZH80A Account No. Individual account for each client New cut-off times – client deadlines Equities / Fixed Income DFP/RFP SD; 4 p.m. T-Bills DFP/RFP SD; 1 p.m. Equities / Fixed Income DVP/RVP SD; 8 a.m. T-Bills DVP/RVP SD; 8 a.m. Impact Clients and counterparties are requested to instruct with the new custodian details as from settlement date March 29, 2011. To see full market details, please access the Market Guide Poland. Should you have any questions, please contact your UBS – Source: UBS AG Relationship Manager or Account Manager. UBS AG Securities Services P.O. Box CH-8098 Zurich Switzerland Phone: +41-44-236 61 36 Email: [email protected] While the facts in this publication have been carefully researched, UBS cannot be held responsible for their accuracy. The opinions expressed may differ from official UBS views. © UBS 2011. All rights reserved. .

Copy Link

Recommended publications

Pko Bank Polski Spółka Akcyjna
This document is a translation of a document originally issued in Polish. The only binding version is the original Polish version. PKO BANK POLSKI SPÓŁKA AKCYJNA PKO BANK POLSKI SA DIRECTORS’ REPORT FOR THE YEAR 2010 WARSAW, MARCH 2011 This document is a translation of a document originally issued in Polish. The only binding version is the original Polish version. PKO Bank Polski SA Directors’ Report for the year 2010 TABLE OF CONTENTS: 1. INTRODUCTION 4 1.1 GENERAL INFORMATION 4 1.2 SELECTED FINANCIAL DATA OF PKO BANK POLSKI SA 5 1.3 PKO BANK POLSKI SA AGAINST ITS PEER GROUP 6 2. EXTERNAL BUSINESS ENVIRONMENT 7 2.1 MACROECONOMIC ENVIRONMENT 7 2.2 THE SITUATION ON THE STOCK EXCHANGE 7 2.3 THE SITUATION OF THE POLISH BANKING SECTOR 8 2.4 REGULATORY ENVIRONMENT 9 3. FINANCIAL RESULTS OF PKO BANK POLSKI SA 10 3.1 FACTORS INFLUENCING RESULTS OF PKO BANK POLSKI SA IN 2010 10 3.2 KEY FINANCIAL INDICATORS 10 3.3 INCOME STATEMENT 10 3.4 STATEMENT OF FINANCIAL POSITION OF PKO BANK POLSKI SA 14 4. BUSINESS DEVELOPMENT 17 4.1 DIRECTIONS OF DEVELOPMENT OF PKO BANK POLSKI SA 17 4.2 MARKET SHARE OF PKO BANK POLSKI SA 18 4.3 BUSINESS SEGMENTS 18 4.3.1 RETAIL SEGMENT 18 4.3.2 CORPORATE SEGMENT 21 4.3.3 INVESTMENT SEGMENT 23 4.4 INTERNATIONAL COOPERATION 25 4.5 ISSUE OF EUROBONDS 25 4.6 ACTIVITIES IN THE AREA OF PROMOTION AND IMAGE BUILDING 26 5. INTERNAL ENVIRONMENT 30 5.1 ORGANISATION OF PKO BANK POLSKI SA 30 5.2 OBJECTIVES AND PRINCIPLES OF RISK MANAGEMENT 30 5.2.1 CREDIT RISK 31 5.2.2 MARKET RISK 33 5.2.3 THE PRICE RISK OF EQUITY SECURITIES 34 5.2.4 DERIVATIVE INSTRUMENTS RISK 35 5.2.5 OPERATIONAL RISK 35 5.2.6 COMPLIANCE RISK 36 5.2.7 STRATEGIC RISK 36 5.2.8 REPUTATION RISK 36 5.2.9 OBJECTIVES AND PRINCIPLES OF CAPITAL ADEQUACY MANAGEMENT 37 Page 2 out of 71 This document is a translation of a document originally issued in Polish.
[Show full text]
UBS (CH) Investment Fund B
Unit Accoun- Reference Initial Launch Minimum Smallest Annual Form of Approp- class¹ ting currency subscrip- period/date* subscription tradeable fee custody riation of currency tion price lot income I-A110 USD USD 1 000 Not yet n/a 0.001 0.21%2 Registered7 Accumulating known (0.17%) I-A210 USD USD 1 000 Not yet 10 000 00011 0.001 0.18%2 Registered7 Accumulating known (0.14%) I-A310 USD USD 1 000 Not yet 30 000 00012 0.001 0.15%2 Registered7 Accumulating known (0.12%) I-B8 USD USD 1 000 Not yet n/a 0.001 0.035%5 Registered7 Accumulating known I-X8 USD USD 1 000 04.11.2014 n/a 0.001 0.00%6 Registered7 Accumulating U-X USD USD 100 000 Not yet n/a 0.001 0.00%6 Registered7 Accumulating known UBS (CH) Investment Fund B. UBS (CH) Investment Fund – Bonds CHF Ausland Medium Term Passive Investment fund under Swiss law with multiple sub-funds Unit Accoun- Reference Initial Launch Minimum Smallest Annual Form of Approp- (umbrella fund) class¹ ting currency subscrip- period/date* subscription tradeable fee custody riation of (Category Other Funds for Traditional Investments) currency tion price lot income W CHF CHF 100 Not yet n/a 0.001 0.18%3 Bearer Accumulating known (0.14%) Prospectus with integrated fund contract February 2017 F9 CHF CHF 100 Not yet n/a 0.001 0.14%4 Registered7 Accumulating known (0.11%) I-A110 CHF CHF 1 000 Not yet n/a 0.001 0.18%2 Registered7 Accumulating known (0.14%) I-A210 CHF CHF 1 000 Not yet 10 000 00011 0.001 0.18%2 Registered7 Accumulating known (0.14%) I-A310 CHF CHF 1 000 Not yet 30 000 00012 0.001 0.14%2 Registered7 Accumulating known (0.11%) I-B8 CHF CHF 1 000 Not yet n/a 0.001 0.045%5 Registered7 Accumulating known I-X8 CHF CHF 1 000 04.11.2014 n/a 0.001 0.00%6 Registered7 Accumulating U-X CHF CHF 100 000 Not yet n/a 0.001 0.00%6 Registered7 Accumulating known Part I Prospectus C.
[Show full text]
Financial Data of Asseco Poland S.A. for the Period of 6 Months Ended 30 June 2021
Financial data of Asseco Poland S.A. for the period of 6 months ended 30 June 2021 Financial data of Asseco Poland S.A. for the period of 6 months ended 30 June 2021 FINANCIAL HIGHLIGHTS ......................................................................................................................................... 4 INTERIM CONDENSED FINANCIAL STATEMENTS OF ASSECO POLAND S.A. FOR THE PERIOD OF 6 MONTHS ENDED 30 JUNE 2021 ............................................................................................................................ 5 INTERIM STATEMENT OF PROFIT AND LOSS AND OTHER COMPREHENSIVE INCOME ............................................................ 6 INTERIM STATEMENT OF FINANCIAL POSITION ........................................................................................................... 7 INTERIM STATEMENT OF CHANGES IN EQUITY ............................................................................................................ 9 INTERIM STATEMENT OF CASH FLOWS .................................................................................................................... 10 EXPLANATORY NOTES TO THE INTERIM CONDENSED FINANCIAL STATEMENTS ................................................................. 12 1. GENERAL INFORMATION ......................................................................................................................................... 12 2. BASIS FOR THE PREPARATION OF INTERIM CONDENSED FINANCIAL STATEMENTS .............................................. 13
[Show full text]
Full Funding for Polimery Police Secured Under Agreements
04.06.2020 Full funding for Polimery Police secured under agreements Grupa Azoty S.A., Grupa Azoty ZCh Police, Grupa Azoty Polyolefins, Grupa LOTOS, Hyundai Engineering Co., and Korea Overseas Infrastructure & Urban Development Corporation (KIND) have signed agreements for the financing of the Polimery Police project. Also, Grupa Azoty Polyolefins, the SPV formed to implement the project, which is of key importance to the entire chemical industry, has signed a credit facility agreement with a syndicate of domestic and foreign financial institutions. The total project budget is estimated at over EUR 1.5bn. The construction phase is scheduled for completion in 2022. ‘Today marks the end of many months of work to raise funding for Polimery Police, one of the largest industrial projects currently under way in Poland and wider Europe. The project is in progress, with Hyundai, our equity partner and general contractor, having entered the construction site earlier this year. Polimery Police is important to us and to the entire economy. It will help us to strategically diversify our revenue sources and Poland to turn from a net importer to a net exporter of polypropylene,’ said Wojciech Wardacki, President of the Grupa Azoty S.A. Management Board. The press conference held in Police to announce the signing of the agreements was attended by Polish President Andrzej Duda and Minister of State Assets Jacek Sasin. ‘A mechanism was created to implement a project worth PLN 7bn. It really is an incredibly huge and cost- intensive project. But what makes it so cost-intensive is that it is a world-class state-of-the-art facility,’ noted President Andrzej Duda.
[Show full text]
Annual Report of Grupa LOTOS S.A. 2016
Annual report of Grupa LOTOS S.A. 2016 Annual report of Grupa LOTOS S.A. 2016 Annual report of Grupa LOTOS S.A. 2016 A. Letter of the President of the Management Board B. Grupa LOTOS S.A. Financial highlights C. Grupa LOTOS S.A. Separate financial statements for 2016 D. Directors’ Report on the operations Grupa LOTOS S.A. and the LOTOS Group in 2016 E. Auditor’s report and auditor’s opinion on the separate financial statements Ladies and Gentlemen, It is my pleasure to present the 2016 Annual Report of the LOTOS Group. Our 2016 financial performance was the best in LOTOS history. By capitalising on the expertise and experience of the Management Board and our staff, we successfully achieved the set targets, and delivered strong growth. Our consolidated revenue came in at nearly PLN 21bn, our LIFO-based EBITDA, the most significant financial measure for any oil company, rose 20% during the year (to approximately PLN 2.6bn), and the Group’s ability to generate cash on core operations improved 80%. We steadily and consistently worked towards reducing our debt and optimising sources of financing for investment projects. Our impressive performance was an effect of nearly full utilisation of the refinery units’ capacities, diversification of oil supplies, which was the best in years, and the more than doubled volume of hydrocarbon production from own fields (supported by steady expansionh of the potential of our production assets in Norway). Our trading business was significantly stimulated by the new fuel market legislation: the First Fuel Package introduced by the Polish government to effectively prevent illegal imports of fuels without paying the required taxes.
[Show full text]
The Securities Custody Industry
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Chan, Diana; Fontan, Florence; Rosati, Simonetta; Russo, Daniela Research Report The securities custody industry ECB Occasional Paper, No. 68 Provided in Cooperation with: European Central Bank (ECB) Suggested Citation: Chan, Diana; Fontan, Florence; Rosati, Simonetta; Russo, Daniela (2007) : The securities custody industry, ECB Occasional Paper, No. 68, European Central Bank (ECB), Frankfurt a. M. This Version is available at: http://hdl.handle.net/10419/154521 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten
[Show full text]
Powszechny Zakład Ubezpieczeń SA Jointly with Polski Fundusz Rozwoju Takes Over a 32.8% Stake in Bank Pekao from Unicredit
8 December 2016 Powszechny Zakład Ubezpieczeń SA jointly with Polski Fundusz Rozwoju takes over a 32.8% stake in Bank Pekao from Unicredit PZU jointly with PFR signed an agreement with UniCredit S.p.A. for the purchase of 32.8% of the shares of Bank Pekao S.A. for a total amount of PLN10.6bn. The purchase price per share is PLN 123. This makes it one of the largest transactions in the European banking sector in recent years. The acquisition of Pekao's shares is in line with PZU's strategy until 2020, which assumes building a banking group with at least PLN140bn in assets and accumulating PLN50bn of third party AuM. PZU and PFR will cooperate in order to ensure the effective implementation of Pekao’s development strategy, preserving the low-risk profile of the bank, its strong profitability and a stable, long-term dividend policy. – Thanks to the finalisation of the transaction, PZU has become the largest financial group in Central and Eastern Europe, being a leader both in insurance and in the banking and asset management sectors. I am convinced that the existence of such a strong financial institution headquartered in Warsaw will have a significant influence on the financial stability and prospects of the sound development of the Polish economy. This institution will have unique possibilities, thanks to its strength and scale, to create value for our shareholders, clients and employees – said Michal Krupinski, PZU's CEO. – One of the challenges for the Polish economy is a lack of the strong local investor base, which is also visible in the banking sector.
[Show full text]
Implementation of the Sara Reporting System in Bank Pekao S.A
Implementation of the Sara reporting system in Bank Pekao S.A. asseco.com Client’s profile. Bank Pekao SA has operated for over 80 years. It is one Poland for individual and institutional clients. At the end of the largest banks in Central and Eastern Europe. It has of 2009, the capital group consisted of 22 entities: Bank the second largest network of divisions in Poland (over Pekao SA as a dominating entity, 16 subsidiaries, and 6 1000 centres in the whole country) and the network of indirect subsidiaries. Moreover, the bank holds shares over 4000 free-of-charge ATMs in Poland and 20,000 and minority shares in affiliated and co-controlled ATMs all over Europe. Bank Pekao S.A. provides services entities (e.g. KIR S.A., Xelion. Doradcy Finansowi Sp. for nearly 5 million clients, including over 250,000 small- z o.o.). Bank Pekao SA belongs to UniCredit Group, and medium-sized enterprises and over 15,000 large one of the leading international financial institutions, companies. which holds a strong position in 22 European countries, runs almost 9,600 centres, and employs over 160,000 Bank Pekao SA Group consists of financial and people (as at the end of 2010). nonfinancial institutions concentrated around a universal bank; it offers all financial services available in Client’s requirements. Before implementation, preparing mandatory reports according to NBP and Polish FSA requirements was very time-consuming. Expanding the reporting procedures with new systems, which constantly appear in relation to development of the bank, was a considerable challenge. Drawing up essential reports required many hours of processing and presenting specific data by bank employees.
[Show full text]
Custody Services Handbook
CS-AM As of May 17, 2012, this guidance applies to federal savings associations in addition to national banks.* Comptroller of the Currency Administrator of National Banks Custody Services Comptroller’s Handbook January 2002. AM Asset Management As of May 17, 2012, this guidance applies to federal savings associations in addition to national banks.* Custody Services Table of Contents OVERVIEW ............................................................................................................ 1 Background .................................................................................................. 1 The Custody Services Industry ............................................................ 1 Services Provided by a Custodian ....................................................... 1 Risks Associated with Custody Services ........................................................ 2 Transaction Risk ................................................................................. 3 Compliance Risk ................................................................................ 3 Credit Risk.......................................................................................... 4 Strategic Risk ...................................................................................... 5 Reputation Risk .................................................................................. 5 Risk Management ......................................................................................... 6 Operational Controls .........................................................................
[Show full text]
Grupa Lotos S.A
(This is a translation of a document originally issued in Polish) GRUPA LOTOS S.A. (THIS DOCUMENT IS AN APPENDIX TO THE INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS OF THE LOTOS GROUP) INTERIM CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30TH 2010 ALONG WITH THE INDEPENDENT AUDITOR’S REPORT ON THE REVIEW OF THE FINANCIAL STATEMENTS GRUPA LOTOS S.A. FINANCIAL HIGHLIGHTS .......................................................................................................................................... 3 INTERIM CONDENSED STATEMENT OF FINANCIAL POSITION ........................................................................... 4 INTERIM CONDENSED STATEMENT OF COMPREHENSIVE INCOME ................................................................. 5 INTERIM CONDENSED STATEMENT OF CASH FLOWS ........................................................................................ 6 INTERIM CONDENSED STATEMENT OF CHANGES IN EQUITY............................................................................ 7 NOTES TO THE INTERIM CONDENSED FINANCIAL STATEMENTS FOR THE SIX MONTHS ENDED JUNE 30TH 2010 ....................................................................................................................................................... 8 1. General Information ......................................................................................................................................... 8 2. Changes in the Composition of the Management and Supervisory Boards ...................................................
[Show full text]
6 Activity of Bank Pekao SA
Report on the activities of Bank Pekao S.A. for the year 2019 Warsaw, February 20 20 This document is a free translation of the Polish original. Terminology current in Anglo -Saxon countries has been used where practicable for the purposes of this translation in order to aid understanding. The binding Polish original should be referred to in matters of interpretation. Report on the activities of Bank Pekao S.A. for the year 2019 1 Highlights of Bank Pekao S.A. ...................................................................................................................... 3 2 Summary of Performance .............................................................................................................................. 4 3 External Activity Conditions .......................................................................................................................... 6 4 Important Events and Achievements .........................................................................................................14 4.1 Changes in the Group’s structure ...........................................................................................................14 4.2 Changes in the Statutory Bodies of the Bank .........................................................................................15 4.3 Organizational changes ..........................................................................................................................22 4.4 Awards and distinctions ..........................................................................................................................23
[Show full text]
1.1 Statement of Compliance with Corporate Governance Principles
1.1 STATEMENT OF COMPLIANCE WITH CORPORATE GOVERNANCE PRINCIPLES Corporate governance principles and the scope of application Control systems in the process of preparation of the financial statements Articles of Association of PKO Bank Polski SA General Meeting of Shareholders Supervisory Board of PKO Bank Polski SA Management Board of PKO Bank Polski SA 1.1.1 CORPORATE GOVERNANCE PRINCIPLES AND THE SCOPE OF APPLICATION Corporate governance principles included in the document titled “Best Practice for GPW Listed Companies 2016” Corporate governance principles for supervised Institutions issued by the PFSA CORPORATE GOVERNANCE PRINCIPLES INCLUDED IN THE DOCUMENT TITLED “BEST PRACTICE FOR GPW LISTED COMPANIES 2016” In relation to the Best Practice for GPW Listed Companies 2016 coming into force as of 1 January 2016, the Bank adopted the principles and recommendations contained in this document, with the reservation that recommendation IV.R.2., which concerns enabling the shareholders to participate in the General Meeting of Shareholders using electronic communication means would not be applied, unless the General Meeting of Shareholders makes appropriate amendments to the Bank’s Articles of Association authorizing the Management Board to organize a General Meeting of Shareholders using electronic communication means. The Bank applies recommendation IV.R.2 in part concerning the real-time broadcast of General Meetings of Shareholders. According to the Bank’s experience, its shareholders do not expect more extensive use of means of electronic communication during General Meetings of Shareholders. PKO Bank Polski SA enables participation by shareholders, who are interested in taking part in General Meetings of Shareholders, by setting convenient dates and times for such meetings.
[Show full text]