Deutsche Bank Polska fined for harming consumers' interests

Poland's competition watchdog, UOKiK, has imposed a fine of over PLN 5.7 million (EUR 1.22 million) on the Polish subsidiary of German bank Deutsche Bank for damaging the collective interests of consumers, UOKiK announced on Monday.

"Unacceptable unilateral changes to abusive contract provisions - in short defines the practice for which Deutsche Bank Polska has been punished at the decision of the UOKiK president to the sum of more than PLN 5.7 million," UOKiK said.

According to the consumer and competition watchdog, consumers were misled by information disseminated by the bank concerning changes to the fees it took for issuing certificates concerning loans or mortgages denominated in foreign currencies, including Swiss francs.

In addition to the fine, Deutsche Bank Polska will have to inform consumers of the possibility of a refund for the issuance of such certificates, under UOKiK's ruling.

Deutsche Bank Polska announced later on Monday it would appeal against UOKiK's decision.

"Deutsche Bank Polska does not agree with the decision of the president of the Office of Competition and Consumer Protection," a spokesperson for the bank told PAP. "The decision is not legally binding and the bank intends to lodge an appeal with the Court of Competition and Consumer Protection."