Polish banks to speed up provisioning for legacy Swiss franc mortgages

Polish banks are likely to speed up their provisioning for legacy Swiss franc mortgage portfolios following a final Court of Justice of the European Union (CJEU) ruling that they must not charge remuneration from customers when mortgage contracts are annulled, Fitch Ratings says. The banks could face moderately higher losses from the portfolios but we do not expect a material impact on credit profiles of rated banks in the near term.

The CJEU verdict clarified that banks cannot recover more…