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Consolidation of the banking sector in Poland in 1989-2013 in comparison with the structural changes of the banking sector in the USA and the EU

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    Abstract

    Consolidation of the Polish banking sector was greatly associated with development and expansion of the banking sectors of EU countries and followed some consolidation patterns used by US banks. Deregulation of 1989 contributed to creation of a large group of small private banks and paved the way to privatization of the state-owned banks comprising majority of the market. In the 1990s consolidation resulted mostly from takeovers of insolvent newly created banks and had a limited impact on the banking sector. At the turn of the 1990s and the 2000s, after completion of privatization, large banks controlled by the same foreign investors merged within their capital groups and harmonized operations in one entity, frequently after changing names for parent bank names. This process impacted market concentration the most. Poland`s entrance to EU resulted in cross-border consolidation relied on taking over subsidiaries by branches of their parent banks in Poland. Developments of the EU banking sector significantly contributed to mergers and acquisitions of Polish banks. Takeovers of parent banks resulted in immediate mergers of their subsidiaries, and the post-crisis recovery process resulted in a forced sale-out their subsidiaries, creating opportunities for consolidation and market expansion of some Polish medium-sized banks.

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    File URL: http://www.nbp.pl/publikacje/materialy_i_studia/166_en.pdf
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    Paper provided by National Bank of Poland, Economic Institute in its series National Bank of Poland Working Papers with number 166.

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    Length: 56
    Date of creation: 2013
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    Handle: RePEc:nbp:nbpmis:166

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    1. Solomon Tadesse, 2005. "Consolidation, Scale Economics and Technological Change in Japanese Banking," William Davidson Institute Working Papers Series wp878, William Davidson Institute at the University of Michigan.
    2. Chong, Terence Tai-Leung & Lu, Liping & Ongena, Steven, 2013. "Does banking competition alleviate or worsen credit constraints faced by small- and medium-sized enterprises? Evidence from China," Journal of Banking & Finance, Elsevier, vol. 37(9), pages 3412-3424.
    3. Vallascas, Francesco & Keasey, Kevin, 2012. "Bank resilience to systemic shocks and the stability of banking systems: Small is beautiful," Journal of International Money and Finance, Elsevier, vol. 31(6), pages 1745-1776.
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