FX mortgage saga – draft bill on borrowers fund may spoil long-term profitability
President Andrzej Duda has submitted the updated draft bill on the Mortgagors Support Fund (established in 4Q15) to parliament. So far, the banks have committed PLN 600m (one-offs in the 4Q15 results) to the fund. However, the use of these assets has been extremely low, at 2% by the end of 2016. The key update of this bill is addressed towards FX mortgagors as the President’s office’s draft bill provides for the creation of a Restructuring Fund as a sub-fund of the Mortgagors Support Fund.
WOOD & Company is the leading investment bank in Emerging Europe. Founded in 1991 and head-quartered in Prague, our footprint spans the region and touches investors around the globe.
A pioneer in Emerging Europe, WOOD executed many of the first CEE equity trades and landmark investment banking transactions. Our electronic trading platform was the first in the region, and remains the best. We are continually expanding our relevance and reach in these ever-evolving markets.
Our equity market share reflects our stature: 7% in Warsaw, 20% in Bucharest, 16% in Hungary, 40% in Prague and 5% in Vienna. Our distribution is unparalleled, with the largest salesforce in the region, servicing a uniquely diverse investor base.
We couple local expertise with a truly international perspective. With offices on the ground in the region, and in key financial hubs such as London and Milano, we are never far from our clients and we remain at the forefront of what’s afoot in the CEE emerging and frontier landscape.
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