Claims against PKO Bank Polski: Swiss franc mortgages
PKO Bank Polski is Poland's largest bank. It is one of the banks that hold Swiss franc mortgage portfolios, and many borrowers have brought claims about the exchange-rate clauses in those loans. This guide explains how those claims generally work.
- Swiss franc mortgages (kredyty frankowe)
- Borrowers with mortgages indexed to or denominated in Swiss francs have claimed that the exchange-rate clauses were unfair because the bank set the rate and did not explain the currency risk. In Dziubak (C-260/18, October 2019) the Court of Justice of the EU held that a court may annul the whole contract where it cannot continue without the unfair term.
- What happens if the contract is annulled
- Both sides return what they received: the borrower the capital, the bank the instalments. In June 2023 (C-520/21) the CJEU held that EU law precludes the bank from claiming remuneration beyond the capital it lent, and Polish courts have since applied that ruling.
- Settlements offered by banks
- Several banks have offered settlements converting the loan into zlotys. A settlement can end the dispute, so compare it with the likely result of a court case before signing.
- Deadlines
- In Poland, claims by consumers are generally subject to a six-year limitation period that ends on the last day of the calendar year. For Swiss franc loans, courts have held that the period for the borrower runs from when the borrower knew, or should have known, that the clause was unfair. Deadlines in these cases are still argued in court, so do not wait: gather the loan documents and get advice early. Indicative period in Poland (contract claims): 3–6 years.
Frequently asked questions
Can I still sue PKO Bank Polski if I have repaid the Swiss franc loan?
Often yes. Borrowers who have repaid their loan have brought claims to recover what they overpaid, but the deadline question needs checking for your dates.
Do lawyers take these cases on a success fee?
Many Polish firms offer a fixed fee plus a success fee, or a success fee only. Ask for the agreement in writing and how the fee is calculated if the bank settles.
What did the CJEU decide about bank remuneration?
In June 2023 (case C-520/21) the Court held that, when a loan contract is annulled because of unfair terms, EU law precludes the bank from claiming compensation beyond the return of the capital and interest on it from when the payment was demanded.
- Consumer claim lawyers in Poland
- Limitation checker for Poland
- Official source: CJEU, Dziubak, case C-260/18
- Official source: CJEU, Bank M., case C-520/21
- Official source: Rzecznik Finansowy (Polish Financial Ombudsman)
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