Locked content UOKiK punishes mBank

Polish anti-monopoly watchdog UOKiK has imposed a fee totalling PLN 6.58 million for not taking into account a negative interest rate of mortgages denominated in the Swiss franc, the office reported. The investigation was launched in June 2015. UOKiK ordered mBank to stop practicing and pay out refu...

Locked content Getin to pay over PLN 130 mln into creditors support fund

Polish lender Getin Noble Bank, controlled by billionaire Leszek Czarnecki, reported that would have to contribute some PLN 134 million into a state fund for creditors. The payment is required to be made by February 18. Creditors Support Fund (Fundusz Wsparcia Kredytobiorców) will be launched by sta...

Locked content EuroRating downgrades Polish banks’ ratings

Due to a bill which forces Polish lenders to restructure franc-denominated mortgages recently passed by Sejm, EuroRating lowered the ratings of ten Polish banks. This includes the following: Bank BPH, Bank Millennium, BOŚ, Bank Zachodni WBK, Deutsche Bank, Getin Noble Bank, mBank, PKO BP, Raiffeisen...

Locked content Trading of Getin Noble Bank and Millenium temporary suspended

On Thursday morning, the Getin Noble Bank (GNB) shares had sunk by over 25 percent,  Bank Millenium lost nearly 18 percent, consequently the trading was suspended for a few dozen of minutes, the media reported. The WIG20 index dropped by 1.7 percent. It may be the result of the franc-denominated loa...

Sejm passes CHF-denominated loans conversion bill

Sejm, Polish lower house of parliament has passed a law restructuring franc-denominated mortgages with 281 votes for, 2 against and 150 abstaining. According to the law, the franc-denominated mortgage loans would be converted to PLN with the exchange rate of the CHF recorded on the day of the c...

Polish lenders set up funds for franc-borrowers

This year, Polish banking is going to commit up to PLN 800 million to support mortgage borrowers.  Poland’s Bank Association signed a declaration on Wednesday, according to which the Mortgage Restructurization Fund and internal stabilizing funds will be established, the media reported.