Loan holidays will burden Bank Pekao Group's results to the tune of approximately PLN 513m in Q2

by   CIJ News iDesk III
2024-05-09   10:05
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As a result of the amendment to the law on credit holidays, Bank Pekao will recognise in its consolidated results for the second quarter of this year a cost related to the modification of contracts for PLN mortgage loans granted to consumers, the total amount of which will be approximately PLN 513m gross, the bank said. The above cost will be charged to the bank's and the group's financial results for Q2 2024.

Taking into account the participation criteria under the Act, the bank has estimated the participation among eligible customers and, as a result, estimates that approximately 38% of the volume of mortgage loans granted in Polish zloty will be covered by the credit holiday, the bank announced.

At the same time, the bank's and the group's capital adequacy and liquidity ratios will continue to be at safe levels, above regulatory requirements, it stressed.

Source: Bank Pekao Group and ISBnews

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