Retail Banking Market Insights: Poland

Date: 2016-03

The banking sector in Poland is well capitalized and efficient. The market for financial services is dominated by large local banks holding sizable market shares, which remain broadly consistent across all product lines. Product ownership rates are high, particularly for current and savings accounts. Consumers mostly favor providers they have an existing relationship with and product application is still largely conducted via branches, meaning there is considerable scope for providers to encourage greater use of digital channels. Domestic聽and聽foreign聽banks聽have聽also made聽investments聽in聽low-cost聽distribution聽channels聽such聽as mobile banking.

Key Findings
–聽The current account sector’s competitive dynamics are driven by five large banks. The top three providers claim more than half (54%) of main current accounts.

–聽Polish consumers tend to choose providers on the basis of branch location and reputational factors

–聽Switching rates are low in Poland compared to the global average of 17%. Pull factors prompt consumers to switch providers.

–聽Polish savers are cautious, with around 6 in 10 saving to protect themselves against unforeseen events and a third saving for retirement. A desire for an honest brand is among the top three consumer characteristics.

–聽The mortgage market in Poland will grow at a modest rate of 6.6% over the next few years. More than 8 in 10 mortgage holders in Poland have opted for a repayment product rather than an interest-only loan, suggesting that consumers prefer a safer and more straightforward approach to repaying their loan.

–聽Around a third of Polish consumers have a personal loan, and consumer lending in Poland is dependent on overall economic development. The personal loans market is dominated by PKO Bank Polski, mBank, and Credit Agricole with 53% of loans held with these three providers.

–聽More than a third of the population use smartphones in Poland, implying a large potential market for mobile-delivered financial services. The Polish regulatory authorities are focusing on strengthening the banking sector further.

Verdict Financial’s Retail Banking Market Insights: Country Snapshot Poland is a review of the retail banking sector in Poland, with a particular focus on the current account, savings, mortgage, and personal loan markets. It includes both market-level data and insight from our global consumer survey.

–聽Overview of Poland’s banking sector.

–聽Insight into Polish consumer preferences and their reasons for taking out particular financial products.

–聽Learn about the main providers dominating the current account, savings, mortgage, and loan markets and the different factors persuading customers to choose them.

–聽Discover the extent to which consumers are using online and mobile channels to research, take out, and use their financial products.

–聽Future proof your strategy with market sizing, forecasts, and analysis of key developments currently affecting Poland’s retail banking sector.

–聽Target consumers with inside knowledge of their true behaviors and attitudes, with detailed analysis from our proprietary insight.

– Learn about the impact new entrants and distribution channels will have on the market.”

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