Four thousand Bank Millennium customers in Poland signed extra-judicial agreements – Banking & Finance

looking for extrajudicial agreements, in the Bank Millennium, the Polish arm of BCP, is being raised. According to the daily Rzeczpospolita, around 8% of credit customers in Swiss franc signed contracts, until the end of July, which corresponds to four thousand individual agreements.

At issue is a decision of the European Court of Justice, in 2019, ruling that Polish bank customers can ask the courts to have their home loan contracts signed in 2008 and denominated in Swiss francs converted into local currency.

The Polish Supreme Court has postponed a decision on this matter to November, but CEO João Brás Jorge, in an interview with Polish news agency PAP earlier this month, explained that the bank would not wait for that date to find out the direction of the situation. The institution is, therefore, working intensively to resolve the situation individually and, by the end of June, it had another 3300 contracts under negotiation and another 8600 awaiting the start of the process. The newspaper Rzeczpospolita indicates that the association of Polish banks estimates that, if they go to court, around 80 to 90% of clients win the cases. Bank Millenium does not detail the conditions being agreed, but there are customers who report that a CHF / PLN exchange rate is being offered around 3 – 3.2 (the current market rate is 4.23) .

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