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Getin Noble to adjust recovery plan due to coronavirus pandemic – PAP

Poland-based Getin Noble Bank SA will have to amend its financial recovery plan due to the coronavirus outbreak but will be able to deal with the economic fallout from the pandemic, news agency PAP reported April 3, citing Getin Noble head Artur Klimczak.

The executive also said the bank's priority will be to focus on maintaining operational efficiency and to ensure the safety of customer deposits.

The financially troubled lender posted a net loss of 591.6 million zlotys for 2019, compared with a net loss of 460.2 million zlotys in 2018. The fourth-quarter net loss stood at 244.6 million zlotys, with the result affected by 158.2 million zloty provisions made on legal risks related to the lender's CHF mortgage exposure and 84 million zloty provisions for the reimbursement of fees on consumer loans repaid ahead of schedule.

As of April 3, US$1 was equivalent to 4.24 Polish zlotys.

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