Raiffeisen Bank Polska to carve out its FX mortgage portfolio

Raiffeisen Bank Polska will sell its FX retail mortgage portfolio to its parent company Raiffeisen Bank International. Although the bank is also considering selling the majority stake in the company (excluding the aforementioned portfolio) The transfer will occur before the planned IPO which has a May 15 deadline. Raiffeisen Bank Polska is obligated by the Financial Supervision Authority KNF to float at least 15 percent stake on the Warsaw Stock Exchange. The bank’s toxic portfolio of Swiss Franc-denominated mortgages was seen as one of the reasons while the initial IPO date set for mid-July has been pushed back due to low interest.