Polish banks versus fintechy. Jastrzębski, KNF: I don't think they are in a lost position

The largest banks operating on the market should be on the stock exchange, we think it is a good practice – said the chairman of the Polish Financial Supervision Authority Jacek Jastrzębski on Wednesday during the Impact Congress in Poznań.

The chairman of the PFSA was asked if he was a good practice for large banks to be listed on the stock exchange. “We think it is appropriate. From the point of view of the transparency of doing business, from the point of view of the principles of corporate order, disclosure of all corporate, it is simply good,” he said.

“It is also good for the Polish capital market. As the PFSA, we are interested not only in the development of the banking market, but also the capital market, so this is also a bit of operation towards market promotion, so as to increase or build an offer for investors interested in the capital market in Poland,” he added.

Jacek Jastrzębski confirmed that he saw no reason to change the policy adopted by the PFSA in this matter. “Of course, we are very pragmatic, we do not expect that the bank will increase free float, whether it will enter the stock exchange in a situation where market conditions would make this happening at a gigantic cost and it simply does not have economic justification. But when it comes to our preference to have banks listed on the stock exchange, she is current.”

Polish banks versus fintechy. “Lost position”

The chairman of the PFSA was also asked about the desired formula of the presence of such entities on the Polish market as Revolut or Aion Bank, traditional Polish banks point out that in “comparison with the foreign ones they are in a lost position.”

“When I look at the results of Polish banks, I do not think that they are in a lost position towards anyone. Of course, it is known that the preferred structure of operating on the Polish market for us is a full Polish license. And there are entities interested in obtaining such a license,” he said.

“Last year we had the first case of a commercial bank in several years, which wants to obtain a full license in Poland. Korean IBK obtained the so -called first license to create a bank. Now we are in the process of proceedings aimed at issuing the so -called operational license,” he added.

Jastrzębski also indicated, for example, Erste Group, which obtained a full banking license. “This shows that there is interest in such a formula of functioning on our market. For us it is the best. Of course, we know that there are different formulas of functioning resulting from EU law, even a departmental or cross -border law. Each of them has its shortcomings,” he said.

He noted that from the KNF point of view, it is crucial to ensure that the customer knows who he has on the other side. “If the client entrusts funds or uses other services, he should know, based on whose license this activity is carried out and who, for example, guarantees deposits adopted by such an entity,” said the head of the PFSA.

The Polish press agency is the media patron of the Impact Congress. (PAP)

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