Exchange offices are pleased with the expensive franc and high spreads in banks – Dziennik.pl

Exchange offices are pleased with the expensive franc and high spreads in banks – Dziennik.pl

Internet Exchange Offices are hoping that through the confusion of the franc exchange rate will join the ranks of their clients, those who francs mortgage still repaid in gold, at the rates set by the banks. Peter Kiciński, vice president Cinkciarz.pl shows, for example. On the rapid growth of its business queries in Google. In January, there were almost two-thirds more than in December. – This is reflected in the number of visits to a website, number of downloads applications or established new user profiles – says Kiciński.

Luke Olek, a member of the board of Currency One to which they belong and Walutomat InternetowyKantor.pl, also believes that the counters will benefit from the strengthening of the franc. – In the second half of January both our services recorded a record number of registrations. Also note the increased traffic on sites and more inquiries from customers who want to know how to start currency exchange – says.

With the greatest cantors forecasts indicate that this year the size of their industry – measured by the value of turnover – will increase by nearly a fifth. In 2014,. The value of the turnover was about 25 billion zł. This could reach 30 billion zł (according to the estimates indicate market leaders). Andrew Sałuda, director of sales and marketing TNN Finance (the company runs Exchange Online), says that the money changers services online today uses about 400 thousand. people. Sałuda also hopes that the roads franc will fuel the next growth acceleration cantors online.

According to the declaration of the Franks mortgage banks in the currency immediately pay off far less than half borrowers . In Getin Noble Bank is approx. 20 per cent., A little more is in the Bank (approx. 25 per cent.) And mBank (approx. 30 per cent.). With this form of payments frequently used by customers Raiffeisen Polbank, where it is 40 percent. indebted in Swiss francs, and Deutsche Bank Poland, where the indicator reaches approx. 48 percent.

– The biggest increase in interest repayment of loans franc fell in the first months after the introduction of the Act antyspreadowej, ie from September 2011. – says Wojciech Kaczorowski with Millennium.

The same was true in other banks: after the first enthusiasm associated with the entry into force of the antyspreadowych, interest repayments directly currency fell. Part bankers admit that the recent rapid appreciation of the franc has increased the interest in the repayment of loans in the currency. – Since the decision of the National Bank of Switzerland have seen increased interest in applications for annexes antyspreadowe – says Arthur Newecki of Getin Noble Bank.

Others avoid for the time being so unequivocal declarations. – In recent times, we noticed an increased interest in changing the way customers repaid – tells Emilia Kasperczak with mBank.

Bankers hope that the further repayment installments in US dollars to convince customers reduction of margins on currencies. But only temporarily – the decline in spreads and outflow of customers means a drop in revenues for banks.

DM BPS estimates that in the first quarter of this year, analyzed by the broker group of banks – PKO BP, mBank, Millennium Getin Noble Bank, the negative impact of reductions in gross profit spreads should not exceed, depending on the bank, 1-5 per cent., or from 3 to 10 million zł, assuming that the reduction would take the entire quarter. – Of course, if customers repaying loans in Swiss francs will arrive, revenue loss will be larger banks – says Marta Czajkowska-Bałdyga, an analyst at DM BPS.

Bank plans narrowing of spreads representatives online cantors not scared. – We assume that despite the announced reduction in spreads by the banks we can get at least 30 percent. increase in the number of customers interested in buying francs through us – says Andrzej Sałuda.

Lukasz Olek returns and note that some banks have already announced that reducing the spread will be valid only for a limited time – eg. for half a year. – Internet Exchange Offices are still competitive in relation to banks’ margins. I do not expect churn – said.

From the currency trading available on the pages of cantors in fact that is not used by the spreads are narrower than in some banks, but not all. For example, in Cinkciarz.pl franc spread is about 1.2 per cent., The currency Online – about 1 percent. Meanwhile, banks spreads the cuts can be as much as 1 percent. – As in PKO BP and BZ WBK, or 1.25 percent. As Deutsche Bank Poland. In other cases are higher: eg. In mBank or in the Bank amounts to 3 per cent., In Getin Noble Bank – 2.5 percent.

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