The Central Bank of Switzerland is cutting interest rates, the Swiss franc exchange rate is very favorable: circumstances are great to take credits in this currency. Unfortunately, it’s very hard to get a credit.
“Franc is unavailable on the intra-banking market. Unless a bank has financing from its owner, it resigns from such credits”, one of banks’ CEOs said.
Not only Swiss franc has disappeared from the market but also euro and yen.
“It’s worthwhile to consider whether to put all foreign currencies to one basket. Maybe the euro should be treated less strictly if we want to give credits next year”, the head of a big bank suggested.
“Not all credits should be banned. Euro should be treated otherwise because it may become our currency”, Witold Orlowski from PricewaterhouseCoopers said.
“We give credits in Swiss francs but we develop our offer of credits denominated in the Euro stronger”, Bartosz Chyla, DnB Nord deputy CEO added.
“The cost of the credit is not the only thing that matters. When we enter the
euro zone, the risk of exchange rate changes will disappear”, Kazimierz Stanczak
from Polbank EFG believed.