S&P Upgrades Polish Banking Sector

Politics ♦ Published: April 16, 2014; 12:07 ♦ (Vindobona)

Rating agency Standard & Poor’s has upgraded the Polish banking sector from “negative” to “stable”.

S&P upgraded the rating for Polish banks because of solid economic growth. / Picture: © Flickr / Ryan H

The upgrade was given as the banking industry is currently seeing improvements from the economic recovery in the country. According to Marcin Petrykowski, regional director for CEE at S&P, the solid economy in Poland and relatively low debt rate of the private sector are positive aspects for the banking sector. Moreover, the strict control of the regulator, particularly regarding…