More Polish banks mull creating mortgage units
August 13, 2014
An increasing number of banks are considering setting up a mortgage bank in order to create a possibility of long term financing diversification.
Among banks that are analyzing the possibility to set up a mortgage bank are Raiffeisen Polbank and BZ WBK.
Poland's top bank PKO BP has already filed to the financial oversight body KNF for a permission to set up a mortgage bank, while Getin Noble Bank and Millennium are rumored to be interested in such a solution, though both institutions deny having such plans.
The interest of bank to create mortgage units stems from the recent financial crisis, which triggered a decrease of financing from parent companies and forced banks to seek other forms of financing.