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In this bank, customers are extremely eager to apply for credit holidays. Why?

In this bank, customers are extremely eager to apply for credit holidays. Why?

mBank announced on Tuesday that recorded a net loss of nearly PLN 2.3 billion in the third quarter of 2022, which – despite the increase in interest rates supporting interest income – was the result of an increase in provisions for Swiss franc mortgages and the booking of credit holidays.

This program, available from the end of July, allows for the suspension of payments of a total of eight PLN mortgage installments in 2022 and 2023, mBank cost PLN 1.35 billion in the third quarter (Industry records the total cost of this two-year program at one time). Originally, mBank estimated that the negative impact of credit holidays will amount to PLN 1-1.4bn with a customer participation rate between 60 percent and 80 percent

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