Banking sector overview | Banking today and tomorrow | March 2024

7 March 2024 | Banking today and tomorrow, Knowledge, News

Can banks meet the credit needs of the Polish economy?

The Polish banking sector is too small and too taxed to be able to finance the needs of the economy on an adequate scale. (…) “We are responsible for 80% of the financing of the so-called real sphere, i.e. all entities that are not included in the financial sector. The decline in lending is an obvious problem for the Polish economy. It is also an illustration of our capabilities,” said Włodzimierz Kiciński.


From WIBOR to WIRON. When and what will change for borrowers?

When discussing the role of the WIBOR benchmark in the Polish financial system, experts and regulators emphasise its key function and robust control procedures. As the basis for setting lending rates, it is monitored by the Financial Supervision Authority (KNF), which ensures transparency and market stability. The planned changeover to WIRON is aimed at meeting global standards and strengthening customer confidence.

Source: Dziennik Gazeta Prawna

 WIBOR manipulation by banks. How much truth is there? [OPINION]

Recently there have been reports in the media that the WIBOR benchmark is being manipulated by banks. The first question to answer is what is WIBOR and how does it work, which can tell us a great deal about the possibilities of manipulating it.

Source: Business Insider

Ministry of Finance: We are completing work on the credit holiday, we will soon publish the draft

The Ministry of Finance assures: “Our intention is to provide solutions that protect borrowers, in a situation where interest rates remain high. The Ministry of Finance has been asked to prepare and present additional information and scenarios, following questions regarding the use of certain solutions and their impact on the economy.”

Source: Gazeta Wyborcza

Polish Bank Association (ZBP): Banks sold 162,000 mortgages in 2023

“Despite the fact that the banking sector granted a record number of mortgage loans, the numerical result achieved remains at the same level as in 2004, i.e. 162,000. However, the dynamics and value of the market is demonstrated by the value of the loans – in 2023 this amounted to PLN 62.8 billion, more than four times higher than in 2004, when it was PLN 15.2 billion,” says the ZBP report.

Source: Puls Biznesu

Post-Safe Mortgage landscape. Five key charts on the mortgage market

The mortgage market has experienced a brief boom fuelled by subsidies. But the boost in sales is not the only effect of the ‘Safe 2% Mortgage’. We present the five most interesting findings from last year’s summary.


Cyber criminals take ‘click loans’ instead of customers

There has been an exponential increase in the number of complaints to the Financial Ombudsman about loans that were not knowingly taken out by customers, but by cyber criminals using social engineering and hacking techniques. In such situations, the onus is on the bank to prove that the transaction was authorised.

‘Click loans’ are fast loans offered by banks that customers can obtain from a bank transaction website without contacting a bank employee. The loans are granted automatically and their limits are set by the banks based on their knowledge of their own customers’ financial situation. These loans are a very convenient solution for consumers, but the problem arises when unauthorised persons gain access to the account.

Read more:

Green light for the European wallet. Legislation to facilitate use of digital services in the EU

The EU wallet is designed to make it easier to authenticate online when using public and private services. The European Parliament has given the green light to a project to create an EU digital identity wallet. This is a tool that may make it easier for EU citizens to identify and authenticate themselves online, giving them remote access to public and private services and allowing them to sign documents online. The regulation adopted yesterday still needs to be approved by the Council of the European Union before it can enter into force.


Licence or blockade – crypto service providers face a new phase

The first version of the draft law on cryptocurrencies has seen the light of day. The Financial Supervision Authority will supervise the market in Poland. Among other things, the law provides for the possibility of blocking, at the level of internet providers, access to the interfaces of entities operating without the necessary licence.


Global public debt in 2024 will be more than 50% higher than before the pandemic

Experts at S&P Global Ratings forecast that the 137 countries covered will raise the equivalent of USD 11.5 trillion in long-term debt on financial markets in 2024. This is an increase of 8% from 2023 and more than 50% higher than pre-pandemic levels.


Questions? Find out how we support banks and financial institutions.

See also

Banking today and tomorrow | An overview of the banking sector | February 2024

Latest Knowledge

Belka tax cut and what this means for companies

The Minister of Finance has announced a plan to reduce the Belka tax, to come into effect on 1 January 2025. And although he has said that the groundwork is already being laid, he has not yet revealed all the details of the proposed changes.

Liability of management board members

The liability of management board members is a complex and multifaceted issue. It is therefore worth taking a closer look at these issues, especially in light of recent developments.

Effectively managing collective redundancies

The labour market is seeing an increased number of collective redundancies. We check what rules govern collective redundancies and what obligations must be fulfilled in order to carry them out effectively.

SME Fund – Tomasz Szambelan accredited IP Scan provider

Tomasz Szambelan has been included in the list of accredited IP Scan providers maintained by the Polish Patent Office. The IP Scan service is part of the grant scheme for the filing of trade marks, designs and inventions from the European SME Fund.

New rules for setting fines for businesses by the President of UOKiK

At the beginning of April 2024, the President of the Office of Competition and Consumer Protection (UOKiK) published new clarifications on the determination of the amount of fines in cases related to the conclusion of agreements restrictive of competition and the abuse of dominant position.

Contact us: