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Violent reaction on the stock exchange after the CJEU judgment

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Bank shares lose value on Thursday morning during the session on the Warsaw Stock Exchange. This is a reaction to the judgments of the Court of Justice of the European Union, which are favorable for franchise holders.

The Court of Justice of the EU issued two judgments on Thursday in cases brought against banks by consumers who took out loans denominated in Swiss francs. Both are beneficial for franchisees.

The CJEU found that the bank does not have the right to demand compensation from the consumer that goes beyond the return of the capital paid out and that the courts may order an interim measure in the form of suspension of loan installments during the trial to determine the unfair nature of the contract terms.

The CJEU decided on bank loans. READ MORE >>>

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WIG-Banks down

In reaction to the judgments of the CJEU, the sectoral index grouping banks, i.e. WIG-Banki, fell at approx. 10.40 by more than 2.27 percent.

Alior Bank shares fall by 2.39 percent, mBank – by 3.93 percent, PKO BP – by 2.65 percent, and Pekao – by 1.74 percent.

Banks such as Santander Bank Polska – 1.81 percent, BOŚ Bank, BNP Paribas – 1.07 percent were also below the line.

Read also: Minus promises. They were supposed to “free Poles from slavery” in franc loans. They did not release

Main photo source: Rafał Guz/PAP

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