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GETIN NOBLE BANK
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Getin Noble Bank S.A. was formed in 2010 through the merger of Getin Bank and Noble Bank. It grew to become one of the largest banks in Poland with Polish capital, offering a wide range of services including retail banking, corporate banking, investment banking, and private banking under the Noble Bank brand. The bank faced significant financial distress, largely due to its large portfolio of Swiss franc-denominated mortgage loans. In September 2022, Poland's Bank Guarantee Fund (BFG) initiated a compulsory restructuring (resolution) to prevent its collapse, transferring its core banking activities, clients, and deposits to a newly created bridge institution, VeloBank S.A. The remaining entity, containing problematic assets, formally declared bankruptcy in July 2023.
Poland
Industry
Financial
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