According to Rzeczpospolita, Bank Millennium has reached an agreement with 4,000 customers with home loans in Swiss francs, representing about 8% of the total mortgage portfolio in foreign currency.
The BCP’s Polish bank has reached an agreement with 4,000 customers with home loans in Swiss francs, representing about 8% of the total mortgage portfolio in foreign currency, the local press reports.
According to Rzeczpospolita, Bank Millennium, a bank in Poland in which Portugal’s Banco Comercial Português has a 50.1% stake, is giving different conditions to each client, offering in some cases more favourable conversion rates than the market, between 3 and 3.2 Swiss francs per zloty.
In addition, the bank lowered the spread of the contracts from 130 basis points to 60 basis points, in order to offset the effect of the higher reference rate.
For customers who have agreed with Bank Millennium, they will have a reduction of their monthly payment by a few hundred zlotys, according to the newspaper.
Analysts consider this news to be positive, as the terms of the agreements being signed with customers are less penalising than the regulator’s proposal for the so-called Francowicse case.