Polish banks team up to create protection scheme

BNP Paribas Bank Polska SA

08/06/2022 07:26

June 8 (Reuters) - The biggest commercial banks in Poland
have teamed up to create a protection scheme to help ensure
their liquidity and solvency, the banks said on Tuesday. 
    Alior Bank  ALRR.WA , BNP Paribas Bank Polska  BNP1.WA , ING
Bank Śląski  INGP.WA , mBank  MBK.WA , Bank Millennium
 MILP.WA , Bank Pekao  PEO.WA , PKO BP  PKO.WA  and Santander
Bank Polska have all agreed to join.
    The scheme needs to be approved by Poland's KNF financial
regulator, the banks said.
    They plan to form a joint stock company which will manage
the protection scheme and funds they contribute to it.
    Each will put in "0.40% of the amount of the guaranteed
funds of the given bank covered by the mandatory deposit
guarantee scheme," the banks said.
    Poland's biggest lender PKO BP estimated that its
contribution to the fund would amount to 872 million zlotys
($203.67 million) which will impact its results this year.
    ($1 = 4.2815 zlotys)

 (Reporting by Anna Pruchnicka; editing by Jason Neely)
 ((anna.pruchnicka@thomsonreuters.com; +48 58 769 65 14;))