Class action lawsuit against bank dismissed

A Warsaw district court has dismissed a class action lawsuit against Getin Noble Bank filed by more than 90 franc borrowers, who argued that they hadn't been informed properly of the details of loan indexation.

"We question the discretion the bank had in determining the indexation rate," Mariusz Korpalski, the attorney who represents the franc borrowers, said in February. "A client who had taken a PLN 100,000 worth loan, learned later that he had to give back PLN 180,000," he added.

Tomasz Połetek, the bank attorney, argued that the franc borrowers were not all in the same situation, as some of them were private persons, while the others legal entities, who took out a loan to expand their businesses. He also added that the lawsuit "contained no evidence on which the court could dwell on." A significant part of Getin's loan portfolio consists of franc-denominated mortgage loans.