Live Breaking News & Updates on Rafal Kozlowski

Stay updated with breaking news from Rafal kozlowski. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.

Poland's PKO BP EGM votes for Swiss-franc settlement fund


By Reuters Staff
2 Min Read
WARSAW (Reuters) - PKO BP will set up a 6.7 billion zloty ($1.77 billion) fund for foreign exchange loan settlements after shareholders of Poland’s biggest bank backed the plan on Friday as a possible solution to the problem of Swiss franc mortgages.
The chances of resolving cases through out-of-court settlements remain uncertain, with many banks waiting for a Polish Supreme Court sitting on May 11 before they decide whether to sign up to a settlement plan proposed by financial regulator KNF.
Thousands of Polish borrowers took out franc loans more than a decade ago to take advantage of low Swiss interest rates but then faced ballooning repayments when the zloty weakened sharply against the Swiss currency. ....

Pawel Florkiewicz , Elaine Hardcastle , Rafal Kozlowski , Andrew Cawthorne , Alan Charlish , Thomson Reuters Trust Principles , Supreme Court , Polish Supreme Court , Extraordinary General Meeting , Thomson Reuters Trust , Corporate Events , Banking Amp Investment Services Trbc Level 2 , Corporate Banks Trbc Level 5 , Banks Trbc Level 4 , Banks Nec Trbc Level 5 , Banking Services Trbc Level 3 , Central Eastern Europe , Central Banks Bank Events , Crime Law Justice , Company News , Consumer Lending Trbc Level 4 , Economic Indicators , Economic News 3rd Party , East European Countries , Emerging Market Countries , Financials Legacy ,