Slowdown in new bank accounts is signal market is becoming saturated

The twelve largest domestic banks gained 147,000 new personal accounts (ROR's) in the first quarter of 2002, which is an increase of only 1.2%. This figure, when compared to the recent rapid development of the market, which grew by 2.1 million customers in 2000 and 1.8 million last year, raises concerns that market saturation is approaching. Three banks, including, Pekao S.A., have already noticed a loss in the number of accounts they hold. The sector of e-banking is still remaining promising, with around 155,000 new customers using on-line services, half of which have accounts with mBank or Inteligo. (Rzeczpospolita, p. B6) M.K.