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The SNB raised interest rates. The installments of franking loans will increase

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The Swiss National Bank (SNB) raised interest rates by 50 basis points to 1.50 percent. This decision will affect the amount of loan installments paid by franchise holders. According to the calculations of the chief analyst of Expander Advisors Jarosław Sadowski, the installment of the average borrower will be even PLN 130 higher. – If during the update of the interest rate the CHF exchange rate will be at a level similar to the current one, the installment after the rate increase will be the highest in history – he adds.

Thursday’s SNB hike is the second in a row by 50 bp. The bank raised interest rates by 50 bp. also at its previous meeting – in December 2022. The SNB’s decision is in line with analysts’ forecasts. The SNB said it did not rule out more interest rate increases.

This decision will affect the amount of loan installments paid by franchise holders. Jarosław Sadowski from Expander Advisors presented exemplary calculations for a loan in Swiss francs granted in January 2008 for 30 years, with a margin of 1.4 percent, for the amount of PLN 300,000. zlotys. According to the calculations of the chief analyst of Expander Advisors Jarosław Sadowski, the installment of the average borrower will be even PLN 130 higher.

Loan installments after changing the interest rates by the SNBExpander Advisors

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The expert clarified, however, that these calculations concern the installment “which will be paid in approximately three months, i.e. when SARON 3M will fully take into account today’s increase”. – If then the CHF exchange rate will be at a level similar to the current one (PLN 4.7), the installment after the rate hike will be the highest in history – he added.

Number of CHF loans in Poland

According to the data of the Credit Information Bureau (BIK), in 2022 the number of active CHF loans decreased by nearly 46.5 thousand to about 342 thousand, and the value of repayments decreased by over PLN 5.5 billion to PLN 86.5 billion. There are also more and more lawsuits in cases concerning loans in Swiss francs.

PKO BP reported in its financial report that at the end of December 2022, 19.5 court proceedings were pending against the bank, which means an increase of over 7,000. compared to the end of 2021. The value of claims at the end of the year was over PLN 7.7 billion, while at the end of 2021 it was over PLN 3.85 billion.

Santander reported that at the end of 2022, over 12.2 thousand claims were filed against a group of banks. lawsuits regarding Swiss franc loans, while the year before it was almost 8.5 thousand. lawsuits. The value of claims amounted to slightly over PLN 3.6 billion at the end of 2022, and a year earlier it was less than PLN 2.01 billion.

In its financial report, mBank reported that at the end of 2022, the number of lawsuits amounted to 17.6 thousand, which means an increase of almost 4.6 thousand. compared to the end of 2021, and the value of claims at the end of last year was almost PLN 6.36 billion. The ING BSK bank reported that by the end of 2022, holders of CHF loans had brought almost PLN 1.05 thousand against it. claims (an increase of over 290 compared to the end of 2021), and the value of claims amounted to PLN 255 million, i.e. increased by over PLN 50 million. Bank Millennium reported that at the end of last year In 2018, the total number of lawsuits amounted to 17.28 thousand, while a year earlier, customers with CHF loans filed nearly 12 thousand. lawsuits.

Main photo source: Shutterstock



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