The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2020 Euromoney, a part of the Euromoney Institutional Investor PLC.

Coronavirus crisis ramps up pressure on Poland’s banks

‘Inadequate’ stimulus package could leave banks on the hook as Covid-19 pushes Poland towards recession.


Poland’s banks are bracing for an unprecedented shock as the Covid-19 crisis pushes the country towards its first recession for nearly 30 years.

Analysts at Raiffeisen Bank International (RBI) are predicting that the economy, which expanded by 4.1% in 2019, will contract by 2% this year after Poland went into lockdown on March 11.

To mitigate the effects of Covid-19, the Polish government announced on March 18 a stimulus package purportedly worth Zl212 billion ($49.9 billion).

In practice, this includes limited support for Polish businesses.

Liquidity measures previously announced by the central bank, including Poland’s first quantitative easing programme and a local version of the targeted longer-term refinancing operation (TLTRO), accounted for a third of the headline number.

Take out a complimentary trial

Take out a 7 day trial to gain unlimited access to and analysis and receive expertly-curated updates direct to your inbox.


Already a user?

Login now


We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree