PKO BP banks on deposit accounts to win back clients
Rumors published in Rzeczpospolita concerning PKO BP have been confirmed as the bank is launching new deposit account products with 9, 12 and 15 months maturity bearing interest of 5 percent, 5.5 percent and 6 percent respectively. These products will be available for another month. A hit is likely to be 18-month Progresja deposit bearing annual interest of 7 percent.
"Shortly we shall also introduce a savings account," said Jerzy Pruski, president of PKO BP. He went on to say that the institution is planning to strengthen its position on the retail market and regain its share in this segment.
A stable deposit base should enable long-term development of credit portfolio. "We are one of the few banks which have a higher level of deposits than credits," said the CEO.
The cost of the new deposit policy might lower bank's quarterly gross result by as much as zł.100 million. However, despite lower profits PKO BP hopes to reverse its falling market share.
Sources: Rzeczpospolita, Parkiet (M.M.)
"Shortly we shall also introduce a savings account," said Jerzy Pruski, president of PKO BP. He went on to say that the institution is planning to strengthen its position on the retail market and regain its share in this segment.
A stable deposit base should enable long-term development of credit portfolio. "We are one of the few banks which have a higher level of deposits than credits," said the CEO.
The cost of the new deposit policy might lower bank's quarterly gross result by as much as zł.100 million. However, despite lower profits PKO BP hopes to reverse its falling market share.
Sources: Rzeczpospolita, Parkiet (M.M.)
