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Polish banking sentiment drops amid recent COVID-19 surge: study

01.12.2020 07:00
Banking sentiment declined in Poland last month amid growing concerns over the coronavirus and its impact on the economy, a study has found.
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The Pengab index, which measures banking sentiment in the country, dropped by 3.8 points to "minus 11.2" in November, the Polish Bank Association (ZBP) and market researcher Kantar TNS have said in a joint report.

The decline in the index reflected a further decrease in customer activity on the Polish market for banking services after a steep slide a month earlier, according to the report.

Krzysztof Pietraszkiewicz, the head of the Polish Bank Association, was quoted as saying that the latest reading of the Pengab index was "clearly indicative of a bad mood among bankers, with a particularly negative outlook for the credit market" as the COVID-19 crisis persisted.

The study was carried out from November 5 to 23, surveying 102 bank outlets nationwide, state news agency PAP reported.

Earlier this year, banking sentiment in Poland tumbled to its lowest level on record amid the coronavirus pandemic.

(gs/pk)

Source: PAP