Poland: BOŚ signed 540 settlements with CHF borrowers by the end of September 2023

by   CIJ News iDesk III
2023-11-08   08:29

Bank Ochrony Środowiska (BOŚ) signed 540 settlements with holders of foreign currency mortgage loans by the end of September 2023, the bank said.

BOŚ launched a settlement program for clients paying off foreign currency mortgages at the end of January 2022. By the end of September 2023, a total of 1,994 applications for a settlement were submitted to the bank (of which 396 this year). They concerned loans, the balance of which amounted to PLN 100 million. So far, 540 settlements have been signed, the bank stated.

In total, the provision for risk associated with mortgage loans associated with foreign currency as at 30 September 2023 amounts to PLN 691.7 million.

On 30 September 2023, a total of 1,384 cases against the bank, concerning loans and loans denominated mainly to CHF (as well as to USD and EURO) in which the value of the subject of the dispute amounted to PLN 508.22 million. Claims made from loan agreements and loans related to the foreign exchange rate generally refer to the recognition of the loan agreement/loan for invalid and ordering reimbursement of credit installments paid, according to the banks quarterly report.

Source: BOŚ and ISBnews