An interest in tomorrow

The Polish banking sector continues to flourish. The February PENGAB index, an indicator of bank prosperity created by Pentor Research International, grew by 0.3 points from January to February, a period in which growth is uncommon. Currently at 38.3 points, the index has grown 5.3 points, year-on-year.

The mortgage and loan sectors have had a significant impact on the growth of Polish banking, especially since the central bank cut interest rates to a record low of 4.0 percent. "The total sum expended in loans and mortgages in 2006 was zł.42 billion and total debt is zł.134 billion," said Krzysztof Pietraszkiewicz, the president of ZBP. "In 2007, the banks want to give out zł.54 billion in loans."

Overall, the banking sector has positively assessed a January 26 amendment to banking law which regulates the storage and processing of personal data of loan customers. However, there are still issues the industry is not happy with. "We support these solutions, but ask for certain corrections," commented Jerzy Bańka, the director of ZBP's legal department, adding that the amendment was prepared too hastily. "We are also willing to apply for entirely new banking legislation," added Bańka.

Banks also want to improve their image. As ZBP stressed at a conference last week, banks want to be seen beyond their commercial purposes as vital institutions of public trust, engaged in a range of charitable activities and in the foundation of a well-functioning economic society.