Santander Bank Polska notices a decrease in customer interest in mortgage loans, but is not planning to reduce the margin accordingly, CEO Michał Gajewski informed.
“You can see a decline in interest, applications in terms of mortgage loans, there are currently fewer. We are not taking any steps to reduce margins. We have no plans of this type,” said Gajewski during a conference call.
Sales of mortgage loans in Q1 2022 decreased by 10% q / q, but was higher by 38% compared to Q1 2021, according to the results presentation.
The bank’s interest margin increased to 4.02% in Q1 2022 from 3.09% a quarter earlier and 2.56% a year earlier.
The President added that the interest in the Borrowers Support Fund was still low.
“In Q1 we had 55 such applications, which is definitely more than in 2021, but this is still really little,” said Gajewski.
The president also stated that it is too early to assess the proposals for borrower support, presented yesterday by Prime Minister Mateusz Morawiecki.
Santander Bank Polska is one of the leading universal banks in Poland. Its shares are listed on the Warsaw Stock Exchange. The main shareholder of Santander Bank Polska is the Spanish Santander, the first bank in the euro area and the 11th largest bank in the world in terms of capitalization. Companies from the Santander Bank Polska Group offer, among others investment funds, insurance, leasing and factoring. The bank’s total assets amounted to PLN 243 billion at the end of 2021.
Source: Santander BP and ISBnews
