Current Report No. 8/2018

7 Mar, 2018

Adoption of a resolution by the Management Board of Bank Zachodni WBK S.A. on the intent to establish a mortgage bank.

The Management Board of Bank Zachodni WBK S.A. ("Bank") informs that on 7 March 2018 it adopted a resolution on the intent to establish a mortgage bank within the Bank's Group structure, operating as BZ WBK Bank Hipoteczny S.A. with the registered office in Warsaw ("Bank Hipoteczny"). The share capital of Bank Hipoteczny will be PLN 22,000,000. The Bank will be the sole shareholder of Bank Hipoteczny.

Bank Hipoteczny will:
- specialise in handling mortgage home loans for retail customers,
- purchase receivables arising from mortgage home loans of retail customers to its own portfolio on the basis of a strategic cooperation with the Bank,
- issue mortgage covered bonds.

Thanks to the establishment of Bank Hipoteczny, the Bank will acquire a stable, long-term source of financing for the Bank's mortgage loans in the form of mortgage covered bonds. The establishment of Bank Hipoteczny will enhance stability and security of the Bank's Group, and indirectly, it may support stability and security of the entire banking sector.

The establishment of Bank Hipoteczny requires an approval of the Bank's Supervisory Board and regulatory permissions, i.e. permission of the Polish Financial Supervision Authority (KNF) to: (i) establish Bank Hipoteczny and (ii) commence Bank Hipoteczny's business operations.

The Bank will release relevant reports when the aforementioned permissions are obtained from the Polish Financial Supervision Authority (KNF).

Legal basis:
Article 17 (1) of the Regulation (EU) no. 596/2014 of the European Parliament and of the Council (MAR).

 
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.

Contact for investors and analysts


Agnieszka Dowżycka