Popularity of PKN shares causes upsurge in demand for bank loans in June

The demand for money in June increased by 5.9% to zl. 284.7 billion and has created an increase in the liability of individuals by 25.1% to zl. 50.7 billion. Companies increased their liability by 2% to zl. 152.3 billion. Overall, loans required to cover these needs rose by 6.9% to zl. 203.1 billion in June. The National Bank of Poland (NBP) says the increased need for loans was easy to predict because of the strong demand for shares of Polish oil producer and distributor Polski Koncern Naftowy (PKN) Orlen. In June, deposits in banks increased by 18.3% to zl. 63.4 billion and were mostly made by brokerage houses for the purchase of PKN shares. Individuals' deposits increased by 2.7% to zl. 141.6 billion. Foreign assets increased in June by 2.3% to $27.7 billion and the liability of the Treasury to the banks increased by 1.8% to zl. 58.5 billion. (Prawo i Gospodarka, July 15-16, page 11) M.M