A restructured exposure is an exposure whose terms of repayment have been changed during the life of the liability in respect of a debtor experiencing or is likely to experience financial difficulties. The change of contractual terms includes a variety of restructuring activities, such as:
- extending the lending period (in the form of an annex to the agreement) or signing a restructuring agreement (in the case of debt that is fully overdue), which results in reduction of the principal and interest installment;
- change of terms and conditions of the agreement allowing for lower interest or principal repayments;
- agreement subject to refinancing.
A restructured exposure that is classified as non-performing (either due to restructuring measures taken or prior to the taking of any restructuring measures) or that has been reclassified from performing to non-performing, including as a result of a restructured exposure being overdue by more than 30 days during the contingency period, is considered a non-performing restructured exposure (technically: forborne exposure).
In the case of granting a loan moratorium period, the PZU Group applies an approach consistent with the regulatory guidance in this respect and does not classify such items automatically as forborne.
| Loan receivables from clients | 31 December 2022 | 31 December 2021 | ||||||||||
| Basket 1 | Basket 2 | Basket 3 | POCI | Total | Basket 1 | Basket 2 | Basket 3 | POCI | Total | |||
| Individual analysis | Group analysis | Individual analysis | Group analysis | |||||||||
| Measured at amortized cost | ||||||||||||
| Gross forborne exposures | 238 | 1 896 | 2 281 | 1 241 | 1 950 | 7 606 | 1 033 | 987 | 2 708 | 1 125 | 1 859 | 7 712 |
| Impairment loss | -5 | -143 | -1 064 | -639 | -1 504 | -3 355 | -6 | -110 | -1 205 | -628 | -1 486 | -3 435 |
| Net forborne exposures | 233 | 1 753 | 1 217 | 602 | 446 | 4 251 | 1 027 | 877 | 1 503 | 497 | 373 | 4 277 |
| Measured at fair value through profit or loss | X | X | X | X | X | – | X | X | X | X | X | 1 |
| Total | 233 | 1 753 | 1 217 | 602 | 446 | 4 251 | 1 027 | 877 | 1 503 | 497 | 374 | 4 278 |
| Movement in net carrying amount of forborne exposures | 1 January – 31 December 2022 |
1 January – 31 December 2021 |
| Opening balance | 4 278 | 4 462 |
| Value of exposures recognized in the period | 2 097 | 1 704 |
| Value of exposures excluded in the period | -1 900 | -1 172 |
| Movements in impairment losses | 150 | -28 |
| Other changes | -374 | -688 |
| Total net receivables | 4 251 | 4 278 |