Polish banks’ provisions related to foreign-currency mortgages weaken 2019 profitability
20:22
Bank Millennium, the Polish subsidiary of Portugal's Banco Comercial Portugues, and mBank, the Polish subsidiary of Germany's Commerzbank, announced that they will book significant provisions related to legal risks from their exposures to foreign currency mortgages. The provisions are credit negative for the Polish banks because they will negatively affect their fourth-quarter 2019 profits.
According to Moody’s assessment, Bank Millennium's announced provision of PLN 150 million, comprises…
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