Banco Comercial Português Sets Aside Provisions for Currency Loan Risks at Banco Millennium
Banco Comercial Português has announced the establishment of provisions to cover legal risks associated with the foreign currency mortgage portfolio held by its subsidiary Bank Millennium in Poland. Announced on July 8, this measure addresses regulatory compliance issues in the mortgage lending sector.
Provisions for Legal Risks on Foreign Currency Mortgages
Banco Comercial Português has estimated the necessary provisions against legal risks linked to the foreign currency mortgage portfolio recorded by Bank Millennium in the second quarter of 2026. This action covers exposures related to mortgage loans denominated in currencies other than the local currency, an issue that has impacted several European banking institutions in recent years.
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