No cheap credits

Heath Alan, Źurada Aleksandra
14-03-2001, 00:00

No cheap credits

Only 15 of Poland’s 75 banks have reacted to the decision two weeks ago by the monetary policy council (RPP) to reduce interest rates by one percent. And the first reaction of those banks was reduce interest on savings accounts. Bank Ślaski for example reduced its 12 month deposit rate by 2.75 percent to 12 percent. People wanting to borrow money might have a long wait ahead. The only banks to have made a small effort in this regard include WBK which reduced its loan rate by one to two percent and PKO BP by 1.5 percent. Of course banks have every reason to be careful. It is said that as many as 15 percent of loans are now overdue.

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Podpis: Heath Alan, Źurada Aleksandra

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