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An overview of the banking sector | Banking: today and tomorrow | April 2023

7 April 2023 | Banking today and tomorrow, Knowledge, News

Banking sector profitability at its lowest in two decades

The sector’s profitability in 2022 was the lowest since 2003, excluding the pandemic period. Only this year offers hope for improvement.

Although banks are earning billions in interest on loans after interest rates have risen, the overall profitability of the banking sector is surprisingly low. And most profitability ratios in 2022 were the lowest in almost two decades, excluding the pandemic years of 2020-2021.

Source: Rzeczpospolita

Banks’ financial performance. Latest figures published

The net financial result of the banking sector amounted to PLN 12.4 billion in 2022, compared to PLN 6.1 billion in the previous year, according to the Central Statistical Office. In turn, the National Bank of Poland reported that the banking sector’s net profit in January-February 2023 was PLN 6.13 billion, representing an increase of 49.1% year-on-year.

Source: TVN24

CHF loans need a systemic solution to avoid contagion to PLN loans

Speaking to PAP Biznes, Jacek Jastrzębski, Head of the Polish Financial Supervision Authority, said that a systemic and sustainable solution to the problem of CHF loans was needed to avoid further legal risks for PLN loans.

Source: PAP Biznes

CHF settlement agreements unevenly awarded. The law can be inconsistent

The problem of CHF loans is becoming increasingly acute and Polish financial market regulators are calling for amicable dispute settlement, and are encouraging banks to be more active in developing a universal settlement programme on terms that are attractive to clients. This is considered to be a win-win solution.

Source: Rzeczpospolita

A former mBank employee sues mBank

In a case concerning the cancellation of four CHF loan agreements, mBank is challenged by an economist, financier and… its former employee.

Source: Puls Biznesu

The Monetary Policy Council leaves the reference rate at 6.75%

“The Council assesses that the economic slowdown surrounding the Polish economy, together with the fall in commodity prices, will continue to have a dampening effect on global inflation, which will also have an impact on lower price dynamics in Poland. The weakening of the GDP growth rate, including the consumption growth rate, accompanied by a significant reduction in credit dynamics, will contribute to reducing domestic inflation.

As a result, the Council assesses that inflation in Poland will fall towards the NBP’s inflation target as a result of the NBP’s strong monetary policy tightening to date. At the same time, the return of inflation to the NBP’s inflation target will be gradual due to the size and persistence of the effects of past shocks which are beyond the control of domestic monetary policy. A more rapid reduction in inflation would be facilitated by a strengthening of the zloty, which the Council considers to be in line with the fundamentals of the Polish economy,” reads the Council’s post-meeting communiqué.

Source: Bank.pl

Banks want new commission on mortgages

Although Polish banks can charge compensation for early repayment of fixed-rate or periodically fixed-rate mortgages, they do not do so because of unclear regulations and legal risks. Discussions between representatives of the financial sector and the Competition and Consumer Protection Office continue. Read the article to find out how Poland plans to regulate this issue.

Source: Business Insider

Smartphones are replacing computers. Online banking becomes a thing of the past

71% of mobile banking app users no longer use online banking, according to data published by the Polish Bank Association. There are now 13.5 million “mobile only” customers. This group does not use traditional “computer banking”, preferring to manage their finances via a smartphone.

Source: Bankier.pl

Tough talk from Credit Suisse Chairman: “The bank could not be saved”

Axel Lehmann, Credit Suisse Chairman, has apologised to the shareholders of the collapsed Swiss investment banking giant. He said that “the bank could not be saved” and that he was “truly sorry”.

The saga is to be brought to an end by the Swiss government’s rescue plan.

Source: Money.pl

UBS says partial sale of Credit Suisse possible

Switzerland’s largest bank, UBS, was forced by politicians to take over the troubled Credit Suisse. Many are now concerned about the competitive situation in the Swiss banking market, with UBS seeking to reassure them.

Source: Rzeczpospolita

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Banking today and tomorrow | An overview of the banking sector | March 2023

Latest Knowledge

Announcement of Income Tax Reform

On 19 August, during a press conference, the Prime Minister announced a package of tax changes planned for next year. According to the announcement, the reform is intended, on the one hand, to ease the burden on the middle class and, on the other, to shift a greater fiscal burden onto the wealthiest individuals and the largest companies. We take a look at the proposals included in the announced package and explain what they might mean for taxpayers.

Family foundations and the tax authorities: what draft bill UD447 proposes and why this is not the end of the troubles

Family foundations were intended to provide entrepreneurs with a stable framework for intergenerational wealth management. Yet not even four years have passed since the first such foundations were established, and the rules governing their taxation are set to be changed once again. This is because the scale of interest and the practical problems uncovered have overwhelmed the drafters of the legislation, as best illustrated by the figures – 927 applications for individual tax rulings and 77 opinions issued from the Head of the National Revenue Administration. This does not, however, mean that family foundations are being used on a massive scale for aggressive tax optimisation. A significant proportion of the queries concerned simply how to correctly apply the complex regulations.

NIS2 and the National Cybersecurity System Act in transport: what you need to do before October 2026

The amended Act on the National Cybersecurity System (UKSC) has been in force since 3 April 2026. For transport sector undertakings, this means a specific compliance timeline, including an obligation to register with the National Cybersecurity System (KSC) registry by 3 October 2026. Failure to do so may result in substantial financial penalties, coupled with the risk of personal liability for senior management. Not every undertaking, however, automatically falls within the scope of the new regime. Read on to find out whether your organisation is affected and what you need to do before the deadline for preparation.

Family foundations: the government has done the maths and presented the bill

Three years. That’s how long we’ve been waiting for what the Council of Ministers had seen in the data from the outset – and has now disclosed in its review of the Family Foundation Act. The document not only diagnoses the problems, but also previews substantial changes to rules that founders and their advisers treated as settled and stable. And therein lies a problem that goes far beyond tax matters. If the rules of the game are changed while the game is being played, there can be neither planning stability nor trust in the law. It is no coincidence that one of the greatest concerns among entrepreneurs considering setting up a foundation is not the level of taxation, but the stability of the legal framework – which today is once again being called into question.

What the new swiss franc act means for banks

We now have a new Act on Special Measures for the Adjudication of Cases Concerning Loan Agreements Denominated in or Indexed to the Swiss Franc. The provisions come into force 14 days after publication. So now is a good time to look at what lies ahead and what banks should be doing today.

New draft Pay Transparency Act – what has changed since December 2025?

A second version of the draft act on strengthening the application of the right to equal pay for equal work or work of equal value between men and women has now been published. It refines procedures and deadlines and introduces a new supervisory body. We have already discussed the changes affecting the recruitment stage and the three pillars of the forthcoming pay transparency framework, noting that Poland will miss the EU transposition deadline of 7 June 2026. Now, we take a closer look at the further changes, new developments and risks that have emerged in the latest, April version of the draft.

Payment Services Regulation (PSR) – between consumer protection and due diligence

The draft Payment Services Regulation (PSR) is one of the most significant elements of the reform of the EU legal framework for payment services. Its principal aim is to enhance the security of cashless transactions and to reduce the scale of financial fraud, in particular that arising from the growth of digital channels. At the same time, the new rules are intended to introduce a liability model that will not result in risk being transferred entirely to financial institutions, whilst retaining an important role for independent due diligence on the part of the user.

Energy deregulation – key changes for businesses and energy consumers

The President has now signed the Energy Deregulation Act (UDER92). The new provisions cover both the relationships between energy undertakings and consumers, and matters relating to investment, district heating, and the administrative obligations of energy market participants. The Act introduces changes in the areas of billing, communication with consumers, grid connection, and the operations of undertakings in the energy and district heating sectors. We set out the key points to note.

Banking sector overview | Banking today and tomorrow | July 2026

Under the draft legislation, banks will be required to offer existing borrowers a switch from WIBOR-based to POLSTR-based interest rates, a mechanism intended to speed up the voluntary transition of financial instruments to the new benchmark. The banking sector has responded positively to the proposal, according to Tadeusz Białek, President of the Polish Bank Association.