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Citi Expects NBP to Help In FX Loan Conversion

POLAND
  • CITI EXPECTS POLISH CENTRAL BANK TO HELP IN FX LOANS CONVERSION
  • Polish lenders are pressing the NBP to help in unwinding ~100bn zloty ($27 billion) in Swiss-franc mortgages as part of a deal that could end the wave of lawsuits from enraged borrowers.- Banks have been calling on the NBP to source the CHF needed to swap loans into PLN
  • So far most banks have widened loan loss provisions for 4Q in anticipation, putting a drag on earnings.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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