New investment accounts could attract billions
Poland’s planned Osobiste Konto Inwestycyjne, or Personal Investment Account, could attract more than 2 million customers and over PLN 100 billion within its first three years, according to projections from brokerage house BM PKO BP. Around 800,000 people could open an account during the first year, rising to 1.6 million in the second year and 2.1 million in the third. The accumulated assets could exceed PLN 200 billion after five years.
The accounts are intended to encourage Poles to move more savings into investments by offering preferential tax treatment. Analysts expect the first inflows to come mainly from conventional bank deposits and initially favor safer instruments such as government bonds. Over time, however, a growing share could be directed toward shares and investment funds, potentially strengthening domestic demand for Polish equities and increasing the role of local capital on the Warsaw Stock Exchange.
Source: money.pl