Institutions granting loans and credits
Supervision over the Banks is exercised by the Polish Financial Supervision Authority. The bank will not start operations without the permission of the PFSA. For this to happen, the bank must meet a number of conditions regarding the ownership structure, equity, prudential norms and many more.
Banks can operate in the form of:
a) a joint-stock company
c) a state-owned enterprise.
Currently, banking activities in Poland are conducted by 42 stock banks, 573 cooperative banks and Bank Krato as a state-owned enterprise. One bank can conduct banking activities under many brands. Therefore, cBank, Winigo and Wally ink are not included in the list of banks, as the entities operating under the named names are respectively Der Bank, RRK Bank and Gally Bank.
To simplify it, the credit institution is a bank with headquarters outside of Poland, but within the European Economic Area. On the basis of the freedom to provide services, a credit institution may conduct so-called cross-border banking activity in Poland, subject to the supervision of the home state (currently over 300 entities).
A credit institution may also, based on the freedom of establishment, conduct banking activities in Poland through the Branch (currently it is 28 entities).
Hence, there may be misunderstandings. For example, Nerrest Bank, quite popular in Poland, is not a bank within the meaning of the Banking Law. We will not find Nerrest Bank in the bank statement kept by the PFSA, only in the list of credit institutions conducting cross-border activities in Poland, based on a notification submitted by the German supervisory authorities. Of course, DB can perform banking activities, such as taking deposits or granting loans.
In all articles on the Dumpy Linker portal, the term Bank also means credit institutions and branches of credit institutions.
Activities of banks
The following activities are reserved for banks:
1) accepting deposits
2) keeping other bank accounts;
3) granting loans;
4) granting and confirming bank guarantees as well as opening and confirming letters of credit;
5) issuing of bank securities;
6) conducting bank monetary settlements;
7) issuing an electronic money instrument;
8) provided only for the bank in separate acts.
Banks may also conduct other activities, including loans. There are no obstacles for the bank to provide loans and credits. This situation is not uncommon. Mortgage loans for significant amounts are especially popular.
Testing / assessment of creditworthiness
Banks are required to verify the customer’s creditworthiness. The bank’s customer can be anyone who has creditworthiness, unlike Skiwik, which provide loans only to members of the bank. If the potential borrower does not have creditworthiness, the bank can not grant credit . The verification takes place on the principles formulated in the recommendations of the Polish Financial Supervision Authority. The recommendation applies to retail loans, recommendations applies to mortgage loans. In addition, Banks use their own databases.