30th April 2012
Saturday, May 25th, 2013
Construction sector poses challenge for Polish banks
Polish construction companies are having a hard time obtaining credit due to banks' concerns over whether they will get their money bank.
Polish construction companies currently owe around z³.25 billion and it seems that an increasing number are nearing bankruptcy, Dziennik Gazeta Prawna reported.
Currently, though, problems are isolated and mainly concern smaller companies.
However, said Marek Jura¶, analyst at UniCredit CAIB, “This situation could change, if big firms find themselves in trouble. These companies finance their activities using many different banks.”
Banks are contemplating creating special reserves for credit given to the construction sector, although they acknowledge that this would harm their bottom lines.
From Warsaw Business Journal
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Bridge fiasco highlights road-construction woes
Banks expect increase in consumer loan demand
PKO BP plans to create own mortgage bank
Banking sector consolidation 'optimal' says regulator
Bond issue from BG¯ worth z³.3.5 billion
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