Here is the banks’ new, unpleasant problem with CHF mortgages. Quiet settlements
Over the past two years, as the case law on CHF mortgages has clearly shifted in favour of customers, the number of lawsuits over repaid loans has increased. This is hardly surprising, as banks do not have a common settlement scheme for such customers. We disclose the scale of such cases and whether banks are offering settlements for ‘former CHF mortgage borrowers’.
Source: Business Insider
New bank in Poland
The Polish Financial Supervision Authority (KNF) has granted the Industrial Bank of Korea permission to establish a new bank in Poland. According to the announcement, the financial institution will operate under the name IBK Bank Poland.
Source: TVN24
BIK: Banks and SKOKs granted more cash loans and fewer home loans and instalment loans in October ‘24
In October 2024, compared to October 2023, banks and Credit and Savings Unions (SKOKs) granted more cash loans (+28.8%) and issued more credit cards (+15.7%). On the other hand, they granted fewer home loans (27.5%) and instalment loans (-20.5%). In terms of value, banks and SKOKs increased their lending for three credit products: cash loans (+37.9%), credit card limits (+21.9%) and instalment loans (+5.3%). The value of home loans granted by banks and SKOKs fell (-23.8%), in line with their number – according to a press release from the Credit Information Bureau (BIK).
Source: Bank.pl
Banks should protect customers from fraud. UOKiK has issued recommendations
It is the responsibility of payment institutions, especially banks, to explain the modus operandi of fraudsters and to implement measures to monitor, communicate and respond to increasingly sophisticated methods of fraud and theft, according to the President of the Office of Competition and Consumer Protection (UOKiK). His recommendations to payment service providers, which take into account customer complaints and the knowledge of financial sector experts, should help in the implementation of these obligations.
Source: Prawo.pl
Banks reached approximately 107,000 out-of-court settlements and 10,000 court settlements with CHF mortgage borrowers
By the end of September, banks reached about 107,000 out-of-court settlements with borrowers of loans denominated in Swiss francs, said Tadeusz Białek, President of the Polish Bank Association (ZBP). In addition, about 10,000 court settlements have been reached, with the number of such settlements being currently around 1,000 per month.
Source: Inwestycje.pl
The time for relief is over. The burden on banks will rise sharply
In 2023 and 2024, Polish banks paid a preferential contribution to the Bank Guarantee Fund (BFG) which is designed to protect customer deposits and increase the stability of the banking sector. In 2025, the BFG fee will increase significantly.
Source:Business Insider
ZBP President: a variant of WIRF instead of WIBOR – decision in December ‘24
After the second round of consultations with all stakeholders interested in the benchmark reform, it is now clear which version of the WIRF benchmark will replace WIBOR, but the choice will be announced in December ‘24, most likely before Christmas, according to dr Tadeusz Białek, President of the Polish Bank Association (ZBP).
Source: Bank.pl
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See also
Banking today and tomorrow | An overview of the banking sector | November 2024
