44. Loan portfolio sale

In 2020, the Group concluded agreements regarding the sale of retail, SME and corporate loan portfolio.

The gross book value of the portfolio amounted to PLN 855,998 thousand, the value of impairment allowances amounted to PLN 772,442 thousand.

The contractual price for the sale of these portfolios has been set at PLN 125,924 thousand. The net effect on the Group’s results from the sale of portfolios which amounted to PLN 42,368 thousand and is presented in Net impairment losses on financial assets and contingent liabilities.