Report No. 26/2024

07.05.2024 20:11
The impact of the amendment to the Credit Holidays Act on the results of the PKO Bank Polski S.A. Group in the second quarter and throughout the year 2024

Legal basis:

Article 17. 1 of the MAR Regulation – inside information

the Report:

The Management Board of PKO Bank Polski S.A. ("Bank") informs that following the publication of the Act amending the Act on support for borrowers who have taken a mortgage loan and are in financial distress and the Act on community financing for economic ventures and borrower assistance ("Act"), Banks’s Management Board estimates that the Bank’s Group results in the second quarter and throughout the year  2024 will be burdened by adjusting the gross carrying value of the PLN mortgage loans by an estimated amount of approximately PLN 489 million (including adjustment of gross carrying value of mortgage loans of PKO Bank Hipoteczny S.A. in the amount of approximately PLN 61 million) as a result of the entry into force of the Act enabling customers to suspend the repayment of a mortgage loan granted until 1 July 2022 in PLN for two months in the period from 1 June 2024 to 31 August 2024 and for two months from 1 September 2024 to 31 December 2024 ("credit holidays"). The estimation is based on the assumption that about 24%  of customers with a mortgage granted in PLN will decide to participate in the credit holidays. The final value of the adjustment will depend, among other things, on the number of customers taking credit holidays.