Building the Polish banking system in times of political change and turbulence on the markets Essay

The aim of the article is to assess the transformation in the Polish banking system. Poverty in many circles in Poland, growing stratification disparities, and noticeable unemployment gave rise to the conviction that the cause of the unsatisfactory state of affairs was the lack of freedoms, the limitation of creativity and economic isolation, as well as the consequences of the system of centralized economic management. Since the beginning of the 1970s, civil and economic rights have been gradually promoted in the international arena. As a consequence of the ongoing transformations, more and more important institutions of the contemporary Polish state were created or modernized. A special role in the development of the Polish banking system was played by the development of rules and areas of cooperation between banks at the forum of the Polish Bank Association, while maintaining high competition on the financial market. Despite the very high financial burden imposed on the Polish banking sector after 2015, it remains stable, cost-effective and technologically highly advanced. The new challenges for Polish banking mainly concern the increase in potential, including equity, for financing the economy and households, further computerization of the sector with the use of artificial intelligence, elimination of financial exclusion, strengthening the protection of customers against cyberattacks, assistance for borrowers in difficulty with the use of funds from the common bank relief fund. The Polish financial sector will probably also undertake tasks related to the post-war reconstruction of Ukraine. In the financial market, crises cannot be ruled out; Banks must be prepared for them.