The Process Of Development And Adjustment Process Of The Polish Banking Sector To The European Integration And Competition On The Global Financial Market PDF Download

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The Process of Development and Adjustment Process of the Polish Banking Sector to the European Integration and Competition on the Global Financial Market

The Process of Development and Adjustment Process of the Polish Banking Sector to the European Integration and Competition on the Global Financial Market
Author: Killion Munzele Munyama
Publisher:
Total Pages: 14
Release: 2008
Genre:
ISBN:
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Upon accession to the European Union in 2004 Poland was considered quot;the Tiger of Europequot; in the development process. This included the development of the financial sector - the banking sector in particular. However, there has been need for a complete adaption of the Polish banking sector to the process of European integration. The paper examines the adjustment process in the banking sector of an economy arising from a weak financial base to a country where most banking activities are currently conducted in Central and Eastern European Countries (CEECs). The paper scrutinizes the evolution of the Polish banking system since 1989. It also presents the consecutive stages and the factors determining the process of development and adjustment of the Polish banking sector to the European integration and competition on the global financial market.

Foreign Capital in the Structural Transformation of the Polish Banking Sector During the Global Crisis

Foreign Capital in the Structural Transformation of the Polish Banking Sector During the Global Crisis
Author: Ewa Kulinska-Sadlocha
Publisher:
Total Pages: 17
Release: 2013
Genre:
ISBN:
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The Polish banking sector, in contrast to other major European Union countries, has been for many years dominated by banks either controlled by foreign capital or owned by a foreign credit institution. Such a situation is mainly a consequence of the privatization policy that was due to the transformation process of the Polish economy that began after the fall of communism in 1989. At the beginning of the reforms in the early 1990s, the greatest obstacle to the banking system market construction was the lack of domestic capital, as well as the right knowledge of banking.The purpose of the paper is to define the role of foreign capital in the structural transformation of the Polish banking sector during the global crisis. The analysis is based on data published by the Financial Supervision Commission (KNF), the Polish National Bank (NBP), the European Central Bank (ECB) and the information included in the National Court Register.In view of the origin of certain strategic investors -- especially from countries with large economic problems (Italy, Greece, Spain, Portugal) and the continuing difficulties many foreign strategic investors should expect further consolidation, which will reflect the mergers and acquisitions in the global financial market.

Understanding the Polish Capital Market

Understanding the Polish Capital Market
Author: Marek Dietl
Publisher: Taylor & Francis
Total Pages: 371
Release: 2022-12-30
Genre: Business & Economics
ISBN: 100081775X
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The first stock exchange in Warsaw – capital city of the Kingdom of Poland– was established in 1817. Over the past 205 years, the fortunes of the capital market have been closely linked to the "bumpy road" of Polish history. The establishment of the GPW Warsaw Stock Exchange in 1991 was a landmark for transformation from a centrally planned communist economy to a market-driven capitalist one. Since the doors of the exchange reopened, Polish GDP per capita (current USD) increased eight times, translating into an average yearly growth rate of over 7%. The capital market has played a pivotal role in the economic success of Poland over the last three decades. It is not easy to precisely quantify the impact, as it was rather a spill-over effect. Economic growth has fostered the development of a capital market, and more efficient conversion of savings to investments via the capital market. The excellence of capital market institutions can be gauged with reference to various parameters. A synthetic measure is so-called market status. According to FTSE Russell (global index provider), Polish capital attained developed market status in 2018, being the first and only post-communist state to do so. It is fair to say that transformation has been completed and developed market status indicates clearly that the institutions and regulations are world class. The current challenge is competing with other developed markets for the best issuers and offering the most demanding investors an excellent trading experience. This book offers scientific insight into the Polish capital market story. Authored by a group of renowned scholars, with contributions aspiring to the highest academic standards for theoretical considerations and empirical research. The book covers various topics, including links between monetary policy and capital markets, micro and macro market structures, and investors and issuers' behaviour and strategies. All chapters are rooted in contemporary finance theory, supported by various econometric models based on the most recently available data. The book aims to provide academics and practitioners insight into the Polish capital market, appealing especially to those interested in gaining a deeper understanding of emerging markets' successful transformation into developed ones. It can also be used as supplementary reading for doctoral and master’s students in finance, particularly relating to capital markets and economics – predominantly development economics and economic policy.

The Evolution of Banking Sectors in Central and Eastern Europe - The Case of Poland

The Evolution of Banking Sectors in Central and Eastern Europe - The Case of Poland
Author: Piotr Wiesiołek
Publisher:
Total Pages: 12
Release: 2015
Genre:
ISBN:
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Changes in the Polish financial system were so rapid that some stages of financial development were skipped. At the beginning of the transformation process, banks' main balance sheet items were short-term loans and deposits. At the end of the 1990s, foreign investors started to rapidly increase their share of banking sector assets. And with the inflow of foreign capital came the transfer of technologies, know-how, and also business models from parent companies. These models were based on granting housing loans. As a consequence, it is households rather than enterprises that are now the most important customers for banks in the Central and Eastern European (CEE) countries. In fact, the share of household loans (mainly mortgage loans) in banking sector assets in the CEE countries is the highest among all EU countries. Banks financed their activities through a growing deposit base, later supplemented by loans from parent companies. The future of the Polish banking sector will depend on the evolution of the global financial system. Banks will probably start to rely more on traditional sources of financing and their portfolio of liquid assets will be greater than before the outbreak of the global financial crisis. As for the asset side of the balance sheet, housing loans are likely to continue to occupy the dominant position. The overwhelming demand for housing (in Poland, as in other CEE countries, the vast majority of residential property is owned, rather than rented), coupled with very low average income relative to the price per square metre, make it impossible for banks to do without long-term financing. Covered bonds are a possible source of such financing. It would be desirable to design and implement instruments which could change the current structure of banking sector assets (lower the share of household loans). The existing structure is clearly not conducive to the economy's international competitiveness. The question remains, however, as to how banks might be induced to steer their credit flows away from households and towards manufacturers.Full publication: "http://ssrn.com/abstract=2692232" What Do New Forms of Finance Mean for EM Central Banks?

The Polish Banking System

The Polish Banking System
Author:
Publisher:
Total Pages: 7
Release: 2010
Genre:
ISBN: 9789279149443
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Along with the rest of the economy and thanks to strict supervision, the Polish banking system is showing resilience and has avoided serious problems in 2009. Although Polish financial institutions were not involved in the purchase of "toxic" international assets, the high incidence of foreign ownership made them vulnerable to the outbreak of the global financial crisis, which has mostly affected Poland via the capital markets and the collapse of world trade. The first three quarters of 2009 were characterised by a decrease in confidence on the interbank market1, by a threefold jump in loan-loss provisions and write-downs compared to 2008 and by the outbreak of a fierce battle for household savings. Bank profits dropped to around 50% of 2008 results and the return on equity tumbled from 27.4% in June 2008 to 11.8% in September 2009. At the same time, while being exposed to the global downturn, regional uncertainties and declining asset quality, the Polish banking sector may still be considered to be a promising growth market. As much as 44% of Poles still do not own a bank account; over 1.3 million current accounts were opened in 2009 alone and more are expected to be opened in the next few years. Demand for credit remains surprisingly strong and most Polish banks entered the financial crisis with relatively healthy fundamentals.

National Bank of Poland

National Bank of Poland
Author: Mr. Piero Ugolini
Publisher: International Monetary Fund
Total Pages: 58
Release: 1996-11-04
Genre: Business & Economics
ISBN: 145278230X
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Poland was the first centrally planned economy in Eastern Europe to leave the Soviet bloc and introduce systemic reforms in all sectors of the economy. The transformation of the National Bank from a monobank to an institution of a market-based system and the Polish financial sector into a market-oriented banking system was an important element of the reform process and received strong support from the IMF and the international community. This paper describes the steps taken by the National Bank, analyzes the monetary situation, and makes recommendations.