mBank: The number of court cases regarding CHF loans increased to 14,705 at the end of March
The number of individual court proceedings initiated against mBank by its clients in connection with loan agreements in CHF increased to 14,705 at the end of March this year. from 13,373 proceedings at the end of last year, and the total value of claims - up to PLN 4,104.6 million from PLN 3,506.5 million, the bank said.
As part of individual claims, 14,419 proceedings (31 December 2021: 13,036 proceedings) with a total value of claims amounting to PLN 4,099 million (31 December 2021: PLN 3,499.9 million) concerned valorization clauses and contained claims relating to partial ineffectiveness or partial invalidity of loan agreements, ie in terms of indexation provisions, or a ruling that these agreements are invalid in their entirety, according to the banks quarterly report.
As at March 31, 2022, mBank received 728 final decisions in individual cases (December 31, 2021: 473 final decisions), of which 86 were favorable for the bank, and 642 were unfavorable (December 31, 2021: 82 favorable decisions and 391 decisions).
At the same time, as of March 31, 2022, 191 proceedings before courts of second instance were suspended due to legal issues referred to the Supreme Court and the Court of Justice of the European Union (CJEU). The bank submits cassation appeals to the Supreme Court against final and binding judgments unfavorable for the bank. were issued based on the same factual situations, which in the past resulted in different judgments. About 76% of unfavorable judgments led to the cancellation of the loan agreement, the remaining ones to the conversion of the contract to PLN + LIBOR / WIBOR and the replacement of the exchange rate clause with the average NBP rate, according to the bank report.
A class action lawsuit regarding valorisation clauses is also pending against mBank. The lawsuit was filed with the District Court in Łódź on April 4, 2016 by the Municipal Consumer Ombudsman representing a group of 390 people - retail banking customers who concluded CHF-rate-indexed mortgage loan agreements, it was also recalled.
The carrying amount of mortgage and housing loans granted to individuals in CHF as at March 31, 2022 amounted to PLN 8.8 billion (i.e. CHF 1.9 billion), compared to PLN 9.1 billion (i.e. CHF 2 billion) for In addition, the value of the portfolio of loans granted in CHF to natural persons, which had already been fully repaid as at March 31, 2022, taking into account the exchange rate on the date of disbursement of individual loan tranches, amounted to PLN 6.7 billion (December 31, 2021: 6 PLN 6 billion), according to the bank.
Source: mBank and ISBnews