Profil:
PKO BP SAPKO BP lender estimates PLN 1.6 bln as cost of legal risk associated with CHF loans in Q4
Poland's largest lender by assets PKO BP estimates that the cost of legal risk associated with mortgages denominated and indexed to foreign currencies, charged to resultsc for the fourth quarter of 2024, amounted to PLN 1.6 billion (EUR 379.36 mln), the bank said in a market filing.
The bank said that the amount of these costs is due to updates to the parameters of the legal risk assessment model, which relate to changes in the level of settlements and litigation settlements, an increase in the expected costs of the settlement programme and an increase in the estimated costs relating to statutory interest charged for the duration of the customer dispute.
seb/ ao/ han/