Polish mortgage claims push RBI’s op risk up 43%

Following the latest increase, op risk makes up 11% of the bank’s total RWAs

Raiffeisen Bank International’s (RBI) modelled operational risk charges jumped 43% in the first quarter as the Austrian lender took stock of more court claims by Polish borrowers alleging they were missold foreign currency-denominated mortgages.

Since the early 2010s, RBI and other lenders in Poland have been targeted with litigation by retail customers that had been enticed by low-rate, Swiss franc-denominated loans in the lead-up to the global financial crisis – only to subsequently see their

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