Provision for a legal risk related to the CHF mortgage loans

current report no. 2/2021

date: 7 January 2021

The Management Board of BNP Paribas Bank Polska S.A. ("Bank") hereby informs that on 7 January 2021, it approved the estimated level of the provision related to the CHF mortgage loans' agreements as at year-end 2020 in a total amount of PLN 200.3 million. It constitutes an increase of the provision value of PLN 101.7 million vs. the balance as at 30 September 2020. This amount will be booked in the fourth quarter results.

In a context of unclear jurisprudence, the increase of the provision value results from the growing number of pending legal cases as well as the update of the assumptions and parameters of the model applied by the Bank. As at 31 December 2020, the Bank was suited in 644 court cases, which represents an increase of 155 cases in the fourth quarter 2020.

Legal basis

Article 17, item 1 of the Market Abuse Regulation (MAR)

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BNP Paribas Bank Polska SA published this content on 07 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 January 2021 15:41:08 UTC