PKO BP reached 17,476 settlements on CHF loans by the end of September

by   CIJ News iDesk III
2022-11-10   10:22

PKO Bank Polski has reached 17,476 settlements by the end of September. 17,476 settlements with individual customers holding Swiss franc (CHF) loans, the bank said. Of these, 17,057 were concluded in mediation proceedings and 419 in litigation.

In Q3 2022, 3,200 mediation requests were registered, 1,951 mediations ended positively, and 1,247 mediations ended negatively. A total of 30.8 thousand mediation requests were registered by September 30, 2022, 17,944 mediations ended positively, 7,027 mediations ended negatively. The total number of settlements concluded by September 30, 2022 amounted to 17,476, of which 17,057 were concluded in mediation proceedings and 419 in court proceedings, the quarterly report reads.

Settlements are proposed in the course of mediation proceedings conducted by the Mediation Center of the Arbitration Court at the Financial Supervision Commission, in the course of court proceedings and proceedings triggered by a request for a settlement attempt.

To mitigate interest rate risk, from the beginning of the program's launch, the bank offers borrowers the option of a fixed interest rate for 5 years. In the event that the remaining term of the loan after settlement is less than 5 years, the fixed interest rate will continue until the end of the contract. The fixed-rate loan is increasingly popular - in the settlement process in Q3 2022, this option was chosen by 79% of customers who continue to repay the loan after signing the settlement (and a total of 74% of customers who continue to repay the loan since the beginning of offering settlements), according to the report.

Source: PKO Bank Polski and ISBnews