As warned in Q3, the Polish subsidiary decided to set aside more provisions to cover the pending legal losses on its CHF mortgage book. Like the PPI scandal in the UK, this story will probably last for a long time. On the positive side, losses are likely to be spread over several years and the subsidiary’s value accounts for a limited 13% of BCP’s market capitalisation.
27 Jan 2021
Extra provisions on Polish CHF mortgages
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Extra provisions on Polish CHF mortgages
- Published:
27 Jan 2021 -
Author:
David Grinsztajn -
Pages:
2
As warned in Q3, the Polish subsidiary decided to set aside more provisions to cover the pending legal losses on its CHF mortgage book. Like the PPI scandal in the UK, this story will probably last for a long time. On the positive side, losses are likely to be spread over several years and the subsidiary’s value accounts for a limited 13% of BCP’s market capitalisation.