Banks Take Urgent Action to Support Businesses and Individuals Affected by COVID-19

Warsaw, Poland - April 2020

In response to the growing economic impact of the COVID-19 pandemic, the Polish Bank Association has announced a series of measures aimed at supporting businesses and individuals affected by the crisis.

Key Measures to Support Businesses and Individuals

• Facilitation of loan repayment deferment for up to 3 months
• Automatic extension of loan terms
• Quick consideration of applications from borrowers who have been financially impacted by the pandemic
  • Waiving fees and commissions for the acceptance and processing of these applications

Additional Support for Entrepreneurs

• Renewal of financing for up to 6 months at the request of the client
• Banks with leasing companies in their capital group will apply postponement of leasing installments due from lessees on a similar basis

Contactless Payment Limits Increased and POS Devices Installed

• Increase in contactless payment limits
• Collaboration with the Cashless Poland Foundation to install additional POS devices in public spaces

Call for Urgent Action by State Authorities

The Polish Bank Association has called on state authorities to take urgent measures to mitigate the economic effects of the COVID-19 pandemic and ensure the stability of the financial system.

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