[SOLVED] PVR IPTV Simple Client - no channel logos

[mocarela]

Software
XBian version: 1.0 (knockout)
XBMC/Kodi version: 16.1 Git:2016-05-28-6f8e95d
Overclock settings: none

Hardware
Device type and model: Raspberry Pi 2 Model B
SD card size and make/type: 8GB Class 10
Network: Ethernet
Connected devices: TV

Problem description:
Channel logos are not shown although they are present in the configured location.
<settings>
<setting id="epgCache" value="true" />
<setting id="epgPath" value="/home/xbian/.kodi/userdata/addon_data/pvr.iptvsimple/xmltv.xml" />
<setting id="epgPathType" value="1" />
<setting id="epgTSOverride" value="false" />
<setting id="epgTimeShift" value="0.000000" />
<setting id="epgUrl" value="http://*******.com/xmltv.xml" />
<setting id="logoBaseUrl" value="" />
<setting id="logoFromEpg" value="0" />
<setting id="logoPath" value="/home/xbian/.kodi/userdata/addon_data/pvr.iptvsimple/channel_icons/" />
<setting id="logoPathType" value="0" />
<setting id="m3uCache" value="true" />
<setting id="m3uPath" value="/home/xbian/.kodi/userdata/addon_data/pvr.iptvsimple/PVR IPTV Simple Client RPi.m3u" />
<setting id="m3uPathType" value="0" />
<setting id="m3uUrl" value="" />
<setting id="sep1" value="" />
<setting id="sep2" value="" />
<setting id="sep3" value="" />
<setting id="startNum" value="1" />
</settings>
Logos are in .png format and the same behavior is observed if tvg-logo tag is written with or without an extension in the .m3u file.

With these same settings everything works as expected in OpeneELEC (same RPi) and XBMC (Windows).

Solution or any suggestion how to troubleshoot would be much appreciated.

Regards,
Alen