Poland Diversified Banks: The Rising Wealth of Poles: Opportunities and challenges for financial services companies

Research evidence excerpt

Poland Diversified Banks: The Rising Wealth of Poles: Opportunities and challenges for financial services companies

Essentials |

24 Jun 2026 23:00:00 ET │ 48 pages

Poland Diversified Banks

The Rising Wealth of Poles: Opportunities and challenges for financial

services companies

Andrzej Powierza AC

CITI'S TAKE +48-22-690-3566

We expect that growing household wealth in Poland, coupled with an andrzej.powierza@citi.com

increasing awareness of the need to save for retirement, will lead not only to Simon Nellisa further increase in the financial assets of Polish households but also to a

shift in the structure of these assets. We think banks will need to be simon.nellis@citi.com

proactive at mitigating any potential negative impact of this trend on their

deposit spreads while asset managers, brokers, insurers, and GPW should

benefit from the development of the local capital market.

Low financial assets of households — As of the end of 2025, household financial

assets in Poland (according to the Eurostat definition) were equivalent to 93% of the

country’s GDP, the fourth lowest in the European Union. The structure of these

assets is characterized by having a relatively high share of allocation to cash and

deposits and a low share to equities and investment funds.

Low GDP per capita, negative real rates, and preference for real assets are key

reasons — Low household financial assets in Poland can largely be explained by low

wealth levels (i.e., low GDP per capita), but we think that negative real interest rates

could also negatively impact household saving rates and financial asset dynamics

during such periods. We also note that the CEE region as a whole is characterized by

having a relatively high ratio of households with main residence ownership, which