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WSE MARKET SUMMARY

• Correction After A Long Rise - Monthly summary - 6.2009

June was a month with two faces on the WSE (and other stock markets around the world). The indices were rising in the first half of the month but ran into trouble in the latter half. There were probably different reasons why investors were selling stock, but the main reason seems obvious: the markets had been growing much too fast in the past months. Since oil and copper prices nearly doubled within four months while indices rose by 40–100 percent (WIG20 up by 65 percent) only because investors were hoping for the economy to improve (no one knows how much) by the end of the year, a correction was inevitable.
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FINANCE&STOCK MARKET

Difficult but not impossible

“Building a new stable financial market order will take some time. There will be no going back to the situation before the crisis. A new accord is needed in that sector” – says Krzysztof Pietraszkiewicz, president of the Polish Bank Association.

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The Nordea Group

The Nordea Group is the largest Nordic banking group and the most important financial partner for more than 10 million private customers and corporations in 21 countries of the world. Its assets amount to PLN 474bn. In Poland, the Nordea Group is among the top 15 biggest investors according to the ranking list by the Polish Foreign Investment and Information Agency. The Global Finance magazine ranked the Nordea Group on the 22nd place in a list of the safest financial institutions in the world.

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E-economy is the future

“Many problems have been solved thanks to the implementation of a uniform interbank clearing system run by KIR S.A.,” says Kazimierz Małecki, President of the KIR S.A. national clearing house, which for 17 years now has provided efficient and secure clearing services and supported the development of a modern and innovative economy in Poland.

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Bringing convenience to clients

Bilix is the first electronic bill presentment and payment (EBPP) service on the Polish market, provided through electronic banking.

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Building economic standards

“Polish enterprisers and their financial executives have witnessed a considerable fall in economic security over the past 3 months”, Mariusz Hildebrand, President of InfoMonitor Economic Information Bureau (InfoMonitor – BIG) tells Polish Market’s Maciek Proliński.

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BIK-Przedsiębiorca information system

– reliable assessment of entrepreneurs’ financial worthiness and eligibility for credit

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Stable situation

“Among the statutory tasks of the Bank Guarantee Fund is the provision of financial assistance to banks which are in danger of insolvency and banks which take over such banks. However, in order to be offered such assistance, the bank has to carry out a recovery programme approved by the Polish Financial Supervision Authority,” Prof. Małgorzata Zaleska, President of the Bank Guarantee Fund, member of the Board of the International Association of Deposit Insurers (IADI), President of the Research Group of the European Forum of Deposit Insurers (EFDI) and member of the Presidium of the Committee on Financial Sciences Polish Academy of Sciences tells “Polish Market’s” Jerzy Bojanowicz.

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The giant is waking up

“Now is a good time for a bank guided by the principles of corporate social responsibility,” thinks Piotr Kamiński, president of Bank Pocztowy SA. “The bank is expanding faster than ever.”

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