ING Group to include ING Poland’s additional 4Q2022 legal provision in 1Q2023
ING Poland announced that it took a decision to increase the legal risk costs for FX mortgage loans, impacting the 4Q2022 results by PLN 230 mln.
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ING Group will include this in the financial process for 1Q2023.
ING Poland expects negative impact third quarter 2022
ING Bank Slaski – 75% owned by ING Group – has announced that it will book a material negative impact of approximately EUR 363 mln in the third quarter of 2022.
The negative impact for ING Group after tax is expected to be approximately EUR 210 mln that will be included in the results of the third quarter of 2022.The impact is a direct effect of new regulations imposed by the Polish government that offers mortgage customers the right to suspend up to eight instalment payments on their mortgage loan.The aforementioned impact will be consolidated into ING Groups pre-tax results proportionally to ING’s Group stake in ING Bank Slaski in the third quarter of 2022.