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mBank SAmBank lender to see cost of CHF loans' legal risk at PLN 906.9 mln in Q4 2024
Listed lender mBank's legal risk costs related to foreign currency-indexed loans recognised in the fourth quarter of 2024 have amounted to PLN 906.9 million (EUR 212.2 mln) and the estimated preliminary net result for the period is positive, the bank said in a market filing.
The bank said that the risk costs are mainly due to an update of the forecast in terms of the number of litigation cases, the inclusion of additional costs related to litigation, adverse litigation settlements and an update of other model parameters.
"At the same time, the bank reports that the positive performance of the core business continued in the fourth quarter of 2024," mBank said in the market filing.
The lender added that the Tier 1 capital ratio and total capital ratio for the group in the fourth quarter of2024 are expected to be at levels that materially exceed the capital requirements, which for mBank Group are 9.1 percent for the Tier 1 capital ratio and 11.1 percent for the total capital ratio.
The bank said that the final cost of legal risk associated with foreign currency-indexed loans in the fourth quarter of 2024 and the financial results will be published on February 6, 2025.
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