January 15, 2015 / 12:10 PM / 5 years ago

Poland's mBank CEO sees no reasons to worry over Polish banks

WARSAW, Jan 15 (Reuters) - There is no reason to worry over Polish lenders after the Swiss central bank unexpectedly cut rates and scrapped the cap on the franc, sending the zloty and shares in local banks tumbling, the head of Polish mBank said on Thursday.

“There is no reason for worries about the Polish banks. Situation will be stabilising within a week,” Cezary Stypulkowski, who heads the Germany’s Commerzbank unit, told a news conference.

Polish zloty weakened against the euro on Thursday and shares in Poland’s banks plunged after the Swiss National Bank (SNB) discontinued the franc’s minimum exchange rate and cut interest rates. (Reporting by Marcin Goclowski; Writing by Agnieszka Barteczko)

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