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Alior Bank SAAlior Bank expects Q1 NIM of 6 pct; sees no need for additional provisions due to CJEU judgment
Listed lender Alior Bank expects a net interest margin in the first quarter 2025 at a level comparable to fourth quarter 2024, or around 6 percent, deputy CEO Zdzislaw Wojtera told a conference. The management assesses the CJEU's February ruling as neutral or slightly positive and sees no need to make additional provisions because of it.
"In our opinion, it will be (the net interest margin in the first quarter 2025 - PAP) as we presented in the fourth quarter, so around 6 percent," the deputy CEO said when asked about the expected level of the net interest margin, under the scenario of constant interest rates.
The net interest margin in 2024 was 5.98 percent, up 0.09 percentage points year on year. The margin for the fourth quarter alone was 6 percent.
The management was also asked about its opinion on the CJEU ruling of February 13, 2025.
"In our view, the judgment that has been published is neutral or perhaps slightly positive, so it should not increase the scale of disputes. We do not see the need for additional provisions," Wojtera said.
The Court of Justice of the European Union ruled on February 13, 2025 in a Polish case concerning consumer credit and claims based on the sanction of free consumer credit (SKD).
The Court of Justice of the European Union recognised that in the event of a failure to comply with an information obligation, a bank may be deprived of its right to interest. This may be the case even if the individual gravity of the breach of this duty and its consequences for the consumer vary from case to case.
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