Poland could have 6-7 universal banks in a few years' time – Borys

According to the CEO of state-run Polish Development Fund (PFR) Paweł Borys, the number of universal banks in Poland could drop to 6-7 in a few years. “Due to regulations becoming stricter, banking has become more and more difficult and less profitable. In a few years' time, Poland will have several large, universal banks and some smaller, specialized banks,” he explained. Borys added that his views are shared by his Western European peers. “If the EU succeeds in crafting the banking union, I know that my colleagues, who are the strategists of European banks, believe that there will be about 6-7 large, universal banks in Poland. The question is whether we want a Polish bank to have a pan-European presence. I think that we should be among such banks as one of the largest countries in Europe,” he added.