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Eastern Europe Investment 2014

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Poland's biggest bank PKO sees net profit growth despite rate cuts

WARSAW Poland's biggest bank PKO BP is confident it can meet its target of increasing net profit in 2014, despite likely interest rate cuts that will cut into its margins, PKO Chief Executive Zbigniew Jagiello said on Thursday.

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Slovenian PM backs Telekom sale; privatization a matter of 'credibility'

LJUBLJANA Slovenia's new government will push ahead in coming days with the sale of Telekom Slovenia, Prime Minister Miro Cerar told Reuters on Wednesday, in comments that soothed market fears of backsliding.

Romania to become gas independent by 2020: Energy Minister

BUCHAREST Romania will produce more gas than it and smaller eastern neighbor Moldova consume by 2020, and the country's gas grid operator will need to invest in its infrastructure to handle additional resources, the energy minister said on Wednesday.

Czech Komercni Banka sees profit flat in 2014, loan growth building

PRAGUE Czech lender Komercni Banka expects shrinking risk costs and a strengthening recovery in corporate lending to keep its net profit steady on the year in 2014, its chief financial officer told Reuters.

Hungary won't cut back forint bond sales in rest of 2014

BUDAPEST Hungary's debt agency AKK is not planning to cut back forint bond sales in the rest of 2014 as several factors will reduce the public debt to GDP ratio anyway by the end of December, a senior AKK official said on Wednesday.

Romania plans to issue Eurobond to pre-fund 2015

BUCHAREST Romania plans to issue a Eurobond before the end of this year to pre-finance its 2015 needs, aiming for a maturity longer than 10 years, the finance ministry's deputy treasury director said on Wednesday.

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Slovenia's No 2 bank NKBM to be sold by year-end: Jazbec

LJUBLJANA Slovenia expects to sell by the end of the year its second-largest bank, Nova KBM (NKBM), which was rescued by the government in December, Bank of Slovenia Governor Bostjan Jazbec told Reuters on Tuesday.

Slow reforms hamper banks' profits in Croatia

ZAGREB Croatia's banks have enough capital and liquidity but their profits will remain subdued until the government cuts spending and loosens curbs on the private sector, the head of a major local bank told Reuters.

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Romania Raiffeisen CEO says consolidation is 'unavoidable'

BUCHAREST Consolidation in Europe's banking sector is unavoidable and could partly be triggered by the current asset quality review (AQR) of European lenders, Raiffeisen Bank Romania CEO Steven van Groningen told Reuters.

EBRD sees shake-up of eastern Europe's banks after stress tests

LONDON The ECB's health check of European banks could force some lenders to rethink their strategy in central and eastern Europe and even withdraw from parts of the region, according to the European Bank for Reconstruction and Development's new regional banking expert.

EBRD looking to increase involvement in Cyprus

LONDON The European Bank for Reconstruction and Development is already eyeing fresh deals in Cyprus' banking sector and is planning to install at least one independent director on the board of its first investment in the country, Bank of Cyprus.

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