date and location:
30 March 2023
30 Mar 2023

Polish economy in 2023 and beyond: How to fix the housing loan?




mBank and CASE –  Center for Social and Economic Research
cordially invite you to
the 176th mBank-CASE Seminar:


Can we count on banks to finance the purchase of apartments? Status of resources and lessons from 2005-2023

- Dariusz Filar, Ph.D., prof. em. at the University of Gdansk


What should the new model of the housing loan market look like?

- Andrzej Reich, leader of the Responsible Finance Club at the European Financial Congress


Sustainable mortgage: a response to the current challenges of the Polish economy

- Michal Polasik, Ph.D., prof. at the Nicolaus Copernicus University in Torun, FINSEC Foundation

The seminar will take place on Thursday, March 30, 2023.
The meeting will be held ONLINE
from 3.00 - 4.30 p.m. CET.

Language of the seminar: Polish (translation to English will not be provided).





About the seminar:
The almost complete state's abandonment of influencing the sphere of housing loans in 2004-2008 and 2017, and cases of temporary and chaotic moves (such as the so-called credit holidays in 2022) meant that - according to Dariusz Filar's analysis - the situation of holders of approx. 2.5 million active loans (with a total value of PLN 470.2 billion at the end of 2022) is very diverse, and this will cause a serious social problem.
The internal diversity of the borrowers' environment is accompanied by a weakened condition of the banking sector (very significant increase in provisions for legal risk, decrease in equity, low ROE). Banks in such conditions have limited possibilities of credit expansion.
The above-mentioned problems are compounded by the effects of an unexpected rapid increase of inflation. Increases in interest rates led to the collapse of the housing loan market, exposing its weaknesses.
In order to improve the situation on the market, it is necessary to introduce a new model. This model will be presented by Andrzej Reich. The assumptions that it should meet, the detailed instruments, and necessary actions were formulated in the report prepared on the basis of experts' opinions, and after consultations with stakeholders. The new model is to be flexible, free from legal risk, better protected against market risk, and include a better product offer. In such a market, the state, as a regulator, is to intervene ex-ante, not ex-post, and customers must have the minimum financial knowledge.
In the third part of the seminar, Michał Polasik will present the model of the so-called sustainable mortgage that allows to overcome both economic and legal challenges on the current market. The current economic model of mortgage loans accelerates the real repayment of loans in a situation of increased interest rates, which results in problems for customers, banks, and the entire Polish economy. In turn, the complexity of the mortgage loan, low level of consumers' economic education, and the established line of court decisions generate a high level of legal uncertainty in the housing real estate financing market.

Ewa Balcerowicz
Chairwoman of the CASE Supervisory Council

Cezary Stypułkowski
President of the Management Board of mBank S.A.


CASE – Centrum Analiz Społeczno-Ekonomicznych
ul. Zamenhofa 5/1B
00-165 Warszawa
tel.: +48 798 023 759


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