Bank BPH ceases mortgage loans acceptance
15:41
Polish commercial lender Bank BPH has announced it will stop an acceptance of mortgage loans for its retail customers as of September 1, 2016.
"The decision is related to the planned sale transaction and the division of the Bank, after which Bank BPH will not issue new mortgage loans," a statement informed.
Following the transaction settlement due on August 24, Alior and BPH parent GE will jointly hold over 90 percent of voting rights in BPH.
Bank BPH was established in 1989 as the result of a spin-off from the structures of the National Bank of Poland. In 1995, Bank BPH went public and since then has been listed on the Warsaw Stock Exchange.
