WARSAW: Raiffeisen Bank Polska, a unit of the Austrian financial group operating under the brand of Raiffeisen Polbank, filed a motion with Poland’s financial market regulator KNF for permission to create a mortgage bank, Raiffeisen said in a statement.
Raiffeisen wants to create a mortgage unit in order to be able to issue mortgage-covered bonds, primarily for financing its own lending. However, the bank “does not exclude in the future issuing mortgage-covered bonds for other banks,” the statement reads.
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The bank expects the mortgage market to stabilize in 2015 in comparison to 2014 and maintains its intention to grant some PLN 100 million in mortgage loans monthly by the end of 2015, according to the statement.
