Current Report No. 26/2018

5 Jun, 2018

The letter from Banking Guarantee Fund on determining the minimum requirement for own funds and eligible liabilities (MREL) for Bank Zachodni WBK S.A. Group

The Management Board of Bank Zachodni WBK S.A. ("the Bank") hereby informs that on 4th June 2018 it received the letter from Banking Guarantee Fund (Bankowy Fundusz Gwarancyjny, ("BFG") which notifies the Bank about the joint decision of resolution and recovery authorities, i.e. Single Resolution Board, Banking Guarantee Fund and Bank of England setting the minimum requirement for own funds and eligible liabilities ("MREL") for Bank's Group at 14,087% sum of total liabilities and own funds. This requirement has to be met by the 1st January 2023.

MREL was determined on the basis of data as at December 31st, 2016. At the same time BFG pointed out that, capital requirements determined by Polish Financial Supervision Authority (Komisja Nadzoru Finansowego) and amendments of those requirements could directly result in MREL changes.

Legal basis:
Art. 17 clause 1 MAR - inside information.

Santander Bank Polska S.A. with its registered office in Warsaw, al. Jana Pawła II 17, 00-854 Warszawa, registered by the District Court for the capital city of Warsaw, 12th Commercial Division, set up under regulation of the Council of Ministers of 11 April 1988 on setting up Bank Zachodni in Wrocław (Journal of Laws of 1 July 1988, No. 21, item 142), registered under KRS number 0000008723, REGON 930041341, NIP 896 000 56 73, share capital of PLN 1,020,883,050 paid-up in full. Helpline: 1 9999 – fee as per the operator’s tariff.

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