GINB says the drop in value of banking assets halted in 1Q

According to analysis of the General Banking Supervisory Inspectorate (GINB), the drop in value of banking assets observed in 2002 has stopped in the 1Q 2003. Their assets grew by 2.8% over the January - March period, but more than half of this sum was due to the increasing value of foreign currencies. Their share was so important, as they constitute over one fourth of the whole balance sum of the banking sector. There was also growing dynamics in the value of loans granted, which amounted to zł. 2.2 billion, as companies were demanding more loans denominated in foreign currencies. There was smaller growth in the value of loans to households, which again was attributed only to loans in foreign currencies for buying flats. The share of threatened debt increased from 21.9% in December 2002 to 22.3% in March 2003. Banking deposits lowered by zł. 3 billion, or 1.2%, in comparison to the end of last year. (Rzeczpospolita, p. B5) M.M.