Participants in the panel „Where is my money...?” arrived at the conclusion that to some extent the banks themselves can be blamed for this outcome. – We are partially responsible as the banking sector, because a mistake was, for instance, our method of risk management – admitted Krzysztof Kalicki, the President of Deutsche Bank. – Business turned out to be less effective; we lost confidence among customers in respect of the method of financial management.
Today, the clients claim that banks steal their money because they request margins reaching 100-200 points. They forget that we also bear such costs - commented the president.
However, the former President of Pekao SA, Jan Krzysztof Bielecki, does not feel guilty for the crisis. – If someone would open a pub here and say: you can drink as much as you want, I would not get drunk; therefore please don’t speak about the fault of the entire banking sector – stated Bielecki, currently the Head of the Economic Council by the Prime Minister of Poland.
In his view, we lack a comprehensive diagnosis of the crisis and its cost estimate. – We can hear that Spain has spent 9 percent of its GDP to rescue its banks, while Ireland has allocated 80 billion euros to this end – said Bielecki. – Yet these estimates are encumbered with errors, since many banks made one-off reclassifications of securities in their books.
Wiesław Thor, a Vice-president of BRE Bank, pointed that losses would be smaller if less money would have been present in the system. According to Mateusz Morawiecki, the President of BZ WBK, coming three years will be decisive for banks, when they will be obliged to obtain in total 5 billion euros to compensate for their debts. – The race for deposits has already begun, and in 2013 we will see who is the winner in this war.
