February 6, 2020 / 9:24 AM / 21 days ago

Polish bank provisions tied to CHF mortgages premature - mBank

WARSAW, Feb 6 (Reuters) - It’s premature for Polish banks to provide provisions for legal risk related to Swiss franc mortgages, the CEO of mBank said on Thursday.

“The provisions taken by the sector seem premature to me,” CEO Cezary Stypulkowski said at a news conference.

Polish banks face a rising number of lawsuits from clients who took out credits in Swiss francs.

The clients believe such credits were harmful for consumers, since the Swiss currency almost doubled in value in recent years, making the credits more expensive.

Reporting by Marcin Goclowski, Writing by Joanna Plucinska

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below