The Tendency Should Change After Holidays End
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This report is prepared for the Warsaw Stock Exchange SA within the framework of the Analytical Coverage Support Program. 3.0.
Event: Key indicators for the banking segment in Julyand August.
On Tuesday, August16 Votum revealed their monthly reports (link) with key indicators for the segment of pursuing claimsfrom abusive clauses in FX mortgage loan agreementsfor July (number of court sentences and acquired contracts) and August (planned number of court hearings).
The court sentences in the segment of pursuing claims from abusive clauses in FX mortgage loan agreements.
In July the courts of both instances handed down 517 sentences, including 449 in the courts of the first instance (91% of these sentences stated the invalidity of agreements with merely 3% that dismissed claims in their entirety) and 68 in the courts of the second instance (79% stating the invalidity of agreements with none that dismissed claims). July was a month, when the number of rulings came down mom, which is a result of a holiday season and lower number of court sittings. The tendency should change after holidays end.
A number of court hearings related to pursuing claims from abusive clauses in FX mortgage loan agreements.In AugustVotum will attend 1,189court hearings (9% lower mom) related to pursuing claims from abusive clauses in FX mortgage loan agreements.We see a seasonal pattern here, with a declining number of courthearings due to higher number of leaves. At the same time, the decrease in the number of meetings is much smaller than a year ago, when it amounted to a significant 38% (August to July 2021).
New clients acquired in the segment of pursuing claims from abusive clauses in FX mortgage loan agreements. In July a number of new contracts stood at 841 which implies a clear increase yoy (64% up) as well as compared to previous months, which was most likely triggered byweakening PLN, which could prompt customers to take an action. Cumulative number of new signed contracts year-to-date (January-July) with customers amounted to 5,665, which constitutes a 20% yoy growth.
Michał Sobolewski, CFA, FRM
