Banking Sector Overview | Banking today and tomorrow | April 2024

10 April 2024 | Banking today and tomorrow, Knowledge, News

Disputed WIBOR mortgages. Financial Ombudsman leaves both sides dissatisfied

The rise in interest rates has resulted in some mortgage borrowers paying up to twice as much. As a result, attempts are being made to challenge PLN variable rate mortgages based on WIBOR, and the Financial Ombudsman’s so-called ‘significant view’ on such loans has caused widespread controversy. Law firms representing borrowers are trying to win clients on the basis of this opinion, but bank representatives remain calm. (…)

— The Financial Ombudsman’s opinion, despite the media coverage it has received, does not represent a revolution in this debate. However, it has undoubtedly raised the temperature of the dispute unnecessarily – stated Tomasz Leśko, Attorney at Law at Kochański & Partners.

Source: Business Insider

European banks protest against imposed ESG rules

Last week, the European Banking Federation (EBF) said that European banks will not be able to compete with their US rivals if regulators impose ESG rules that US banks are free to ignore.


VeloBank sold for more than a billion zlotys to American fund

The US fund Cerberus today signed a preliminary agreement to buy 100% of the shares in VeloBank, the Bank Guarantee Fund announced. VeloBank is the successor to Getin Noble Bank, which was forcibly restructured.

Source: Rzeczpospolita

Banks will find it easier to get rid of bad loans

Banks will now find it easier to ditch loan agreements with debtors who have got into financial difficulties. This is the main objective of the draft law on loan servicers and loan purchasers published by the Ministry of Finance.

Source: Dziennik Gazeta Prawna

The banks have started to scrutinise Poles. What is going on?

Last year, banks and entrepreneurs turned their attention to the BIG InfoMonitor Debtor Register, checking up to 8.15 million people. Interestingly, some of these people were checked not once but several times.

Source: WP

Banks ‘too big to fail’. Experts urge: More vigilance needed

Experts at the International Monetary Fund are urging bank supervisors not to let banks off the hook and to be more vigilant. Donald Trump’s victory in the US presidential election could add to a litany of misfortunes by making the world’s financial system less safe and ordinary people once again shouldering the bankruptcies of financial giants, as they were forced to do a decade and a half ago.

Source: Interia

Ministry of Finance abandons integration of cash registers with terminals. The relevant provisions will be included in the National e-Invoicing System Act.

The fact that the Ministry of Finance was leaning towards abandoning the controversial innovation has been known since last autumn, when it was announced in a statement to the media by MoF officials. It now appears that operators of payment terminals will not be forced to integrate their machines with fiscal cash registers. This, at least, is what has emerged from a document published by the Ministry of Finance on changes to the National e-Invoicing System (KSeF).


Questions? Find out how we support banks and financial institutions.

See also

Banking today and tomorrow | An overview of the banking sector | March 2024

Latest Knowledge

Belka tax cut and what this means for companies

The Minister of Finance has announced a plan to reduce the Belka tax, to come into effect on 1 January 2025. And although he has said that the groundwork is already being laid, he has not yet revealed all the details of the proposed changes.

Liability of management board members

The liability of management board members is a complex and multifaceted issue. It is therefore worth taking a closer look at these issues, especially in light of recent developments.

Effectively managing collective redundancies

The labour market is seeing an increased number of collective redundancies. We check what rules govern collective redundancies and what obligations must be fulfilled in order to carry them out effectively.

SME Fund – Tomasz Szambelan accredited IP Scan provider

Tomasz Szambelan has been included in the list of accredited IP Scan providers maintained by the Polish Patent Office. The IP Scan service is part of the grant scheme for the filing of trade marks, designs and inventions from the European SME Fund.

New rules for setting fines for businesses by the President of UOKiK

At the beginning of April 2024, the President of the Office of Competition and Consumer Protection (UOKiK) published new clarifications on the determination of the amount of fines in cases related to the conclusion of agreements restrictive of competition and the abuse of dominant position.

Contact us: