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Outlook for Polish banking not bright


2008-12-08

The Polish banking sector has enjoyed rapid growth in profits over the past few years, but the immediate outlook for the industry is not as bright. The confidence crisis in the inter-bank market brought on by the global financial turmoil has led to a sharp drop in lending activity that is the most lucrative segment of banks' operations. Moreover, the stock market downturn has hurt profits from sales of mutual funds shares, which lost much of their value compared with last year. Although these developments did not yet find a significant reflection in Q1-Q3 figures, the fourth quarter is set to bring a sharper decline in profit margins and a marked slowdown in profit growth in the Polish banking sector.



Paweł Sionko
Construction Market Analyst, PMR

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