Will there be a boom without banks? [Closer to the Exchange]

The government's borrower support program has so far benefited holders of over a million mortgages. Perhaps, however, in the beginning of the election year, the so-called credit holidays will be extended by further months. The program provides the possibility of suspending the repayment of mortgage installments for a total of up to 8 months in 2022 and 2023. Nine Polish banks, among which we will find e.g. Bank Millennium and PKO Bank Polski set up provisions in connection with the credit holidays, which amounted to PLN 12,8 billion. The financial result of the sector last year was reduced by this amount.

A bull market without banks is possible?

A popular stock exchange saying says that on the Warsaw Stock Exchange "there is no bull market without banks". The extension of the government support program may therefore affect the results of the Polish banking sector also this year - especially since some of the banks optimistically assumed a low participation rate - and this will translate into the valuation of shares on the stock exchange. Will the growth started last year continue? Or maybe we are looking for an opportunity in the wrong place?

We invite you to the next webinar Closer to the Stock Exchangein which Maciej Kietliński answers the title question - will there be a boom without banks?

In the latest webinar:

• Will there be a boom without banks?
• What do we know about recession in Usa? 
• Are we waiting for a soft landing?

About the host

Maciej Kietlinski - professionally involved in the analysis of capital markets since 2017. He gained the necessary experience in such renowned companies as BGŻ BNP Paribas or Noble Securities. In his last place of work, he specialized in the analysis of listed companies from the dynamically developing gaming sector. He also gave stock exchange comments on TV Biznes24, Parkiet.tv or Inwestorzy.tv and for Forbes, Reuters, Parkiet, Gazeta Wyborcza and PAP Biznes. Kietliński also focuses on development, which is why he is currently working on a doctoral dissertation in economics at the Warsaw School of Economics. CIIA, Investment Advisor or Stock Broker.

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