Banking sector overview | Banking today and tomorrow | June 2024

4 June 2024 | Banking today and tomorrow, Knowledge, News

WIBOR more difficult to manipulate than appears

It would be difficult to find more controlled, procedure- and regulation-laden reference rate than WIBOR. However, despite such rigorous oversight, there are still voices in the public space questioning its legitimacy and reliability. Criticism however focuses only on selected aspects, which may result from insufficient awareness or insufficient communication. Or both, writes Weronika Magdziak-Śliwa, advocate, partner in the Disputes of Financial Institutions practice of Kochański & Partners.

Source: Prawo.pl

Interest-free credit? A new trend in disputes with banks – and it’s not about francs

Law firms, representing both banks and consumers, are noticing a new trend. Once concerning 18 million contracts worth nearly 200 billion PLN. More and more consumers are challenging contracts for cash loans not secured by a mortgage, e.g. for home renovation or a car. If they win, they will gain free credit. So far, only a few banks are reporting such cases, but the Polish Bank Association notes that this is set to become a ‘new gold mine’ for law firms. Do banks have anything to be afraid of?

Source: Business Insider

Consultation launched on draft law implementing EU directive on non-performing loans

‘The amendments introduced by Directive 2021/2167 should contribute to the development of secondary markets for unserviced loans, by removing potential obstacles to the transfer of unserviced loans to buyers, while maintaining a high level of protection of borrowers’ rights,’ – they write.

Source: Bank.pl

European Retail Banking Radar: what action should banks take to maintain strong performance?

The 16th Kearney ‘European Retail Banking Radar’ report, shows that retail banks are booming today. In 2023, the high interest rate environment has pushed their results to new record levels. However, as the report’s authors point out, experts are noting that in order to maintain profits at similar levels in the future, banks will have to look for additional sources of revenue or efficiency.

Source: Bank.pl

Good practices for credit or loan repayment insurance (CPI) signed

The best practices are the result of cooperation between the Polish Insurance Association and the Polish Bank Association under the auspices of the Polish Financial Supervision Authority (KNF). These are the insurance industry’s response to the EIOPA report Thematic Review on Credit Protection Insurance (CPI) sold via banks and the European Supervisory Authority’s 2022 warning and also complement the revised Recommendation U adopted by the PFSA in June 2023.

Source: Polish Bank Associatcion

Banks will now have to verify PESEL numbers. Changes as from 1 June

On Saturday, 1 June, the obligation to verify that a person’s PESEL number has not been blocked will come into force. Pursuant to the Act on amending laws to mitigate certain consequences of identity theft (i.e. Journal of Laws 2023, item 1394; hereinafter: the Act), in the case of banks, credit institutions and SKOKs, verification shall apply primarily when opening bank accounts, granting loans, credits or leases, as well as cash withdrawals in amounts exceeding three times the minimum wage.

Source: Gazeta Prawna

Close to a record on the housing loan market

In April 2024, nearly 32,400 potential borrowers applied for a mortgage. This represents an increase of 55% compared to the same period YoY, according to data from the Credit Information Bureau (BIK).

Source: TVN24

The battle for customers continues. Banks are gaining the upper hand with AI and no-code

Seven out of ten financial sector institutions in Poland (73%) plan to increase their spending on customer service-related technology development, according to the Digital Business Transformation Monitor 2024. Banks are realising that focusing solely on providing services and products is no longer enough to retain customers. It is becoming necessary to personalise services and tailor offers to specific needs, which is where no-code tools and generative AI, among others, come in handy. The latter will help set up bank accounts, answer customers’ questions and even speed up decisions to grant loans.

Source: Managerplus

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Latest Knowledge

Dual-use items: how broad will the CJEU’s definition be?

A training aircraft designed for civilian purposes can also qualify as a military item. That’s a conclusion emerging from the Advocate General’s Opinion in Case C-538/25 (Flugzeugherstellerin) before the Court of Justice of the European Union. What does this mean for companies exporting goods from the EU?

Banking sector overview | Banking today and tomorrow | October 2026

The National Working Group is developing recommendations on the transition to a new benchmark rate – POLSTR – in agreements with retail clients, announced Tadeusz Białek, President of the Polish Bank Association (Związek Banków Polskich).

Workplace harassment and discrimination: new regulations for employers

The Sejm has passed an amendment to the Labour Code concerning workplace harassment and discrimination. The changes introduce a broader definition of the concept itself, new forms of harassment, clearer definitions of what constitutes, for example, sexual harassment, and new rules governing the handling of such cases, including the reversal of the burden of proof, higher compensation awards, and the jurisdiction of district courts. The provisions will enter into force on 5 November 2026. We examine what will change and how much time remains to adapt company documents, policies, and the organisation as a whole.

ESG Roadmap. How to identify which regulations apply to your business and build a strategy

As we know, ESG in business is a roadmap made up of numerous obligations arising from different regulatory frameworks. That is why the right question is not “how do I meet all the requirements?” but rather “which of them apply to my business?”. This is a crucial distinction. We explain how to correctly diagnose your regulatory profile and build an effective ESG strategy – one that actually works and gives you a competitive edge.

Banking sector overview | Banking today and tomorrow | September 2026

In July, Poles held PLN 1,117.5 billion in current accounts and over PLN 406 billion in fixed-term deposits of up to two years. Household debt rose by PLN 7.6 billion to PLN 869.1 billion. Meanwhile, the value of cash in circulation is already approaching PLN 500 billion.

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.

Banking today and tomorrow | Financial sector overview | August 2026

Poland’s banking sector has reacted with concern to recent remarks by Katarzyna Pełczyńska-Nałęcz, the Minister of Development Funds and Regional Policy, who announced plans to put forward a proposal for a further increase in CIT levied on banks. The Minister’s reasoning, however, rests on a flawed conflation of the sector’s liquidity with its profitability, revealing a fundamental misunderstanding of how the banking sector operates and how its financial health is assessed. What is more, it feeds into a worrying trend of replacing substantive debate with simplistic, populist messaging which may be politically appealing but is not underpinned by either facts or economic analysis.

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.

Contact us:

Andrzej Malec, PhD

Attorney-at-Law / Tax Advisor / Certified Accountant / Partner / Tax Law

+48 660 765 920

a.malec@kochanski.pl