Poland Has What It Takes to Face Crises
“The fundamentals of the Polish economy compared to Europe are strong, as demonstrated in 2020 and 2021. Poland benefits, among others, from changes in the global economy which shorten supply chains,” says Jerzy Kwieciński, Vice-President of Bank Pekao and Head of Corporate Banking, Markets and Investment Banking
Will Poland’s banks survive 2023?
To answer this question, I will use an analogy. We do not ask ourselves: is the world changing? The question is: how is the world changing? I have no doubt that the banks will survive, but I do wonder how their role will change. Let’s look back to 2020, when the coronavirus pandemic broke out and the economic crisis began. We did not know then how the banks would cope, and they did so with flying colours. The sector is changing. Just 30 years ago, a bank was associated with a building. Customers would walk into a branch to do business. Ten years ago, a bank was associated mainly with the ATMs where we withdrew money. Today, a bank is associated primarily with a smartphone and mobile banking app. The last two years have not only made banks more digital; above all, customers have started to use banking services more digitally. Banks will change because the environment and the market are changing.
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