Sale of impaired
loan portfolios

Sale of impaired loan portfolios

 The Group did not enter any securitisation transactions, although:

  • in 2010, the Bank performed a bundle sale of 120 thousand retail receivables classified as ‘loss’ in relation to individuals who do not conduct business activities. The debt portfolio amounted to

    PLN 1 127 million and 1.4 thousand of receivables from institutional clients classified as 'loss’, with a total value of PLN 307 million,

  • in the first half of 2011, the Bank carried out another bundle sale of 51 thousand retail receivables classified as ‘loss’ in relation to individuals who do not conduct business activities. The sale covered a bundle with a total debt of PLN 565 million.
  • in the second half of 2011, the subsequent bundle sales were carried for which sales agreements were signed in 2011:
    1. a) in the third quarter, over 49 thousand retail receivables classified as ‘loss’ in relation to individuals who do not conduct business activities. The sale covered a portfolio with a total debt of PLN 418 million,

    2. in the fourth quarter, over 43 thousand retail receivables classified as ‘loss’ in relation to individuals who do not conduct business activities. The sale covered a portfolio with a total debt of PLN 533 million,

    3. in the fourth quarter, over 4 thousand receivables from institutional customers in the impaired loans portfolio classified as ‘loss’ with a total value of PLN 520 million,

  • the total carrying amount of the provision for potential claims on impaired loans portfolios sold as at 31 December 2011 amounted to PLN 3 945 thousand (as at 31 December 2010 it was PLN 11 430 thousand). The Bank did not receive any securities on account of the above-mentioned transactions.