Banks – Ownership Structure Dilemmas
Neither dominance by foreign banks nor dominance by state-controlled banks is good for the economy.
Foreign banks helped build a modern banking sector
When Poland became the first country in the Soviet bloc to establish a non-communist government in 1989 and embark with determination on the path to a capitalist market economy, one of the obstacles it faced was the lack of banks in the full sense of the word and the lack of people competent to manage banks in a market economy. To overcome this hurdle, the government strove to attract know-how from foreign banks by encouraging them to come to Poland both with green-field investments and by taking over privatised state banks. As a result, Poland built an efficient and modern banking system where most of the assets were in the hands of foreign banks.
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