Hard times for Polish lenders

Despite larger revenues recorded in Q3 y/y, 2014 was a difficult year for Polish banking and will have to deal with other issues this year, according to experts. “Polish banks had to operate while interest rates remained low ... and this year may bring further cuts,” said Marta Jeżewska-Wasilewska, WOOD & Company Financial Services expert. Due to the risk of higher funding costs, the lenders which provided franc-denominated loans may face serious problems, she pointed out. According to the General Statistical Office, net profit of Polish lenders amounted to PLN 13 billion in 2014 and was 10.6 percent higher year-on-year.