BANK OCHRONY SRODOWISKA S.A. Current Report 1/2021 Setting aside additional loan loss provisions for foreign currency mortgage loans - publicised on 12 January 2021, at 14:38.
The Management Board of Bank Ochrony Środowiska S.A. domiciled in Warsaw hereby informs that on 12 January 2021 it decided to set aside additional loan loss provisions of 19.8m PLN for the legal risk involving foreign currency mortgage loans. These provisions shall be booked against the 4Q2020 results.
The increased provisions result from the higher number of legal proceedings in progress and the updated assumptions and parameters of the Bank's model. The indicated amount of the loan loss provisions is an estimate and shall be examined by an auditor and thus may change. The final amount of the provisions shall be presented in the Bank's financial statement for 2020.
Legal basis:
Art. 17 section 1 of the Regulation (EU) No 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (MAR).
KLAUZULA POUFNOSCI: BOŚ Wewnętrzne
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BOS - Banku Ochrony Srodowiska SA published this content on 12 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 February 2021 15:43:01 UTC.
