October 31, 2019 / 10:55 AM / 22 days ago

ING's Polish unit involved in 131 FX mortgage court cases: CEO

FILE PHOTO: Brunon Bartkiewicz, Chief Executive Officer at ING Bank Slaski SA speaks at the Reuters Central & Eastern Europe Investment Summit in Warsaw, Poland May 22, 2017. REUTERS/Kacper Pempel

WARSAW (Reuters) - ING’s Polish unit (INGP.WA) is involved in 131 foreign currency mortgage court cases and four new cases have appeared in October, chief executive Brunon Bartkiewicz said on Thursday.

The European Union’s (EU) top court ruled earlier this month in favor of Polish consumers who took out mortgages in Swiss francs, allowing them to ask Polish courts to convert the loans into the local zloty currency in a blow for lenders.

ING Bank Slaski has one of the smallest portfolios of Swiss franc denominated mortgages in the market.

Reporting by Marcin Goclowski, writing by Alan Charlish

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