Credit holidays will burden ING Bank Hipoteczny's gross result by approximately PLN 11.1m in H1 2024

As a result of the amendment to the law on credit holidays, ING Bank Hipoteczny's consolidated gross result in H1 2024 will be reduced by approximately PLN 11.1m, the bank said.

The preliminary estimated value of the adjustment has been determined as the difference between the present value of the estimated cash flows resulting from the loan agreements taking into account the suspension of instalment payments and the current gross carrying value of the loan portfolio, assuming that borrowers representing approximately 13% of the bank's portfolio of PLN mortgage loans are entitled to and choose to benefit from the suspension of instalment payments, the bank announced.

Source: ING Bank Hipoteczny and ISBnews