47. Subsequent events
No objections of the Polish Financial Supervision Authority with regard to the payment, in the form of dividend, of undistributed profit for 2019 retained by the Bank
On 7 February 2024 Bank received a letter from Polish Financial Supervision Authority in which PFSA indicated that after analyzing the current financial, economic and capital of the Bank as well as the arguments and additional explanations presented by the Bank, PFSA does not raise any objections to the possibility of paying, in 2024, the undistributed profit in the amount of PLN 1 685 057 618.28 retained by the Bank for 2019 in the form of a dividend.
The payment of the dividend depends on the final decisions of the Bank’s bodies, which will be taken in the manner provided by the provisions of the Commercial Companies and Partnerships Code, while maintaining the principle of prudent and stable of the Bank management, ensuring of Bank having own funds enabling coverage of all business risks, as well as its further sustainable growth. The Bank will inform about the decisions made in a separate current report.
Proceedings of the President of the Office of Competition and Consumer Protection regarding unauthorized transactions
Details of the proceedings of the President of the Office of Competition and Consumer Protection regarding unauthorized transactions are described in Note 39.
Planned support for consumer borrowers
On 12 February 2024, the next iteration of the government project amending the Act on supporting consumer borrowers who have taken out a mortgage loan and are in a difficult financial situation and the Act on crowdfunding for business ventures and support to borrowers was published on the website of the Government Legislation Center. The purpose of the proposed Act is to enable borrowers with PLN loans to benefit from the instrument of suspension of loan repayment in 2024 for 2 months from 1 April 2024 to 30 June 2024 and one month each in the third and fourth quarter of 2024. The project provides that suspension of loan repayment will only be possible if the loan value does not exceed PLN 1 200 thousand and the arithmetic average of the RdD index value (ratio of installment to income) for the period of the last three months preceding the month of submitting the application exceeds 35%. Additionally, the Act also provides for changes to the Act of 9 October 2015 on support for borrowers who have taken out a mortgage loan and are in a difficult financial situation, the aim of which is to increase the use of the Borrower Support Fund funds, among others by reducing the ratio of the borrower’s expenses related to servicing the monthly mortgage loan installment to the borrower’s monthly household income and by increasing the amount of income entitling to obtain support. If the regulations are adopted in the above-mentioned shape, they may affect the Bank’s financial results in 2024.