Recognition of a provision for repayment of commissions for granting a loan in the event of loan repayment before the deadline specified in the agreement

Getin Noble Bank S.A. informs that on 18 November 2019, it made a decision to recognise a provision for repayment of commissions for granting a loan in the event of loan repayment before the deadline specified in the agreement.

The provision in total amount of PLN 24.6 million gross will reduce the financial result on a consolidated and individual basis as follows:

• it will reduce the interest income by a total amount of PLN 12.0 million; and
• it will increase the remaining operating costs by the amount of PLN 12.6 million.

This provision was recognised in connection with the judgment of the Court of Justice of the European Union of 11 September 2019 in case C-383/18 concerning the right of the consumer to reduce the total cost of the loan in the event of its early repayment.

Legal basis: Article 17 paragraph 1 of MAR