41 (136) 2019
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Chairman's Note

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Chairman's Note

by Antoni F. Reczek OBE, chairman of the board, BPCC


Dear members and readers,

As of 1 January 2020, the BPCC will begin operating as a Polish employers’ organisation.

Editorial Note

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Editorial Note

by Michael Dembinski, chief advisor and Dorota Kierbiedź, membership director, BPCC


Welcome to the latest issue of Contact Magazine Online – this time, we focus on the financial services sector and finance in its broadest sense, in the way it affects the Polish economy.

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Forecasts – economy, markets, innovation

Adam Uszpolewicz, chief executive, Aviva Poland, talks to Michael Dembinski, the BPCC's chief advisor, about the economy, the introduction of employees' capital plans and how technology is shaking up the financial services sector.


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Poland stands at the digital crossroads

Piotr Ciski, managing director of Sage Poland, talks to Michael Dembinski, the BPCC's chief advisor, about the state of Polish small- and medium-sized businesses, and why they are at a turning point.

Finance & related services

PwC’s 2019 Global FinTech report – how firms will change

By Aleksandra Bańkowska, partner, PwC Legal and Anna Maj, FinTech leader, PwC


Last month, PwC published its Global Fintech Report 2019, based on a survey among more than 500 managers worldwide in the financial services (FS) and technology, media and telecommunications (TMT) sectors.

Finance & related services

The application of blockchain technology through M&A process

By Nicolas Klukowski, consultant, Financial Advisory Services at Mazars in Poland


Blockchain technology has been enthusiastically embraced and promises new benefits in many sectors including M&A transactions. But how could blockchain technology impact M&A process?

Finance & related services

Success Story: Quantitative Analysis and Technology team at Credit Suisse Poland

By Adam Lodygowski, Quantitative Analysis and Technology Poland Head


Many people consider ‘offshoring’ as a way to reduce costs by moving low-value work to a place with lower wages, and then bundling similar work to increase process efficiency.

Finance & related services

Trends in the outsourcing sector

By Dagmara Witt-Kuczyńska, operations director, TMF Group


The outsourcing sector is constantly changing, reflecting the fluid needs of companies.
Four main trends currently impact the sector – changes in legislation, globalisation, automation and the increasing scale of outsourced processes.

Finance & related services

Warsaw operation leads the way in transforming financial giant

by Michał Głowiński, general manager, HL Tech


HL Tech is Hargreaves Lansdown’s Polish innovative technology centre, established in 2017 in Warsaw, responsible for software development and for the strategic digital transformation of the British financial giant, a component of the FTSE 100.

Finance & related services

Warsaw. The financial capital of CEE

by Maciej Ozdoba, associate director, and Maksymilian Sobczak, senior property broker, Nuvalu Polska


International banks and companies from the financial sector are relocating their offices to Poland in ever-increasing numbers.

Finance & related services

Kaplan Financial – leaders in online accountancy qualifications, now in Poland

Kaplan Financial is excited to be expanding to Poland to help businesses exceed and meet global demands.

Finance & related services

Are you a Five-star employer? Dare to get rated!

By Łukasz Chodkowski, managing director, Déhora Poland


We are increasingly using mobile applications installed on our mobile phones to make our life easier.

Finance & related services

Financial factors rank top of risks worrying Polish business

By Mariusz Pepłoński, business development director in the Financial Risk Department at Aon Polska


Aon’s Polish Risk Management Survey is conducted every two years to identify the challenges faced by organisations and how they assess and respond to threats.

Finance & related services

When uncertainty becomes the norm

By Jerzy Dąbrowski, CEO, Bibby Financial Services Poland


In recent months, the media has been constantly flooded us with reports about economic threats such as risk of losing important data, currency crisis, environmental risk and the potential economic effects that may come with it, Brexit and the rivalry between US and China.

Finance & related services

Export finance as an answer to international trade tensions – the case of Pekao S.A., the second largest bank in Poland

by Piotr Stolarczyk, Managing Director of the International Banking & Export Finance Department / Andrzej Latoszek, International Transactions Office, Bank Pekao SA


According to the OECD Interim Economic Outlook released in September, the global GDP will grow by 2.9% , down from 3.2% in its previous forecast.

Finance & related services

Finance in the Brexit era – services for corporate clients of the Santander Group across Poland and the UK

By Tomasz Bieliński, Poland - UK corridor manager, Santander Bank Polska SA


The Santander Group offers immense potential for enterprises and corporations on the lookout for international business opportunities.

Finance & related services

Pay your suppliers on time or face new penalties!

By Bernadeta Kasztelan-Świetlik, partner, legal counsel, competition law, Gessel and Partners


Payment deadlines in ‘asymmetric’ transactions – ones between large enterprises and SMEs– may not, under any circumstances, exceed 60 days.

Finance & related services

Cloud computing in Polish Financial Institutions

By Dr Agnieszka Serzysko, attorney-at-law, partner, head of Financial Services Sector, Kochański & Partners


In recent years, cloud computing has become a significant technological enabler for innovative service development.

Finance & related services

The EU’s push for sustainable investing

by Agnieszka Skorupińska, counsel and head of environmental law practice, CMS Poland and CEE, and Patrycja Białko from the EPC team, CMS Poland.


The EU is working on creating new rules to support environmentally sustainable investments.

Finance & related services

ECJ ruling on foreign-currency mortgage loans in Poland: Is it really a breakthrough?

By Daniel Smarduch, adwokat; Łukasz Szegda, attorney-at-law; and Sylwia Boguska, Banking & Project Finance practice, Wardyński & Partners


One of the most critical issues captivating banks and their retail borrowers in recent years in Poland has been the future of foreign-currency loans, especially those denominated in or indexed to Swiss francs.

Finance & related services

Corporate clients as the new payment service users (PSUs)

By Marta Stanisławska, senior associate and Filip Windak, junior associate, Banking & Finance practice, Bird & Bird


Following the MiFID II, PAD and AML IV Directives, the new Directive on payment services in the internal market (PSD2) is part of the so-called regulatory tsunami that we have witnessed in the EU in recent years.

Finance & related services

IP Box opens new tax opportunity for Polish entrepreneurs

By Michał Zdyb, Adam Apel, Aleksandra Piasna, KR Group


IP Box (also called an Innovation Box) is a new tax credit introduced this year. It complements the R&D credit, which is already well known in Poland.

Finance & related services

Will I pay the exit tax when moving the company to the UK?

By Agnieszka Moryc, CEO Admiral Tax


Starting this year, exit tax applies in Poland under the obligations imposed on Poland by the EU Directive to those who move their business together with their assets outside the country.

Finance & related services

Challenges of anti-money laundering regulations on the basis of the fourth AML directive

By Konrad Kąkol, president of the supervisory board of Dauman Bros. EEIG, advocate


The issue of combating money laundering and preventing the financing of terrorism has become a hot topic in recent years, particularly considering the employment opportunities created in Poland thanks to the popularity of outsourcing such business processes.

Finance & related services

The role of financial institutions in reporting tax schemes

Agata Nieżychowska, tax director, Crowe Poland


Businesses are obliged to provide tax authorities with information on tax schemes since 1 January 2019.

Finance & related services

Polish tax regulations regarding debt-financing costs in the era of Anti-Tax Avoidance Directive

By Accreo Sp. z o.o.


Since 2018, as a result of the implementation of the Anti-Tax Avoidance Directive (ATAD), new rules have been introduced regarding debt-financing costs.

Finance & related services

More regulation – better control?

By Marzena Richter ACA, Staniszewski & Richter, Polish Registered Auditors, BPCC Board Member


The last 20 to 30 years have seen a host of spectacular corporate and financial failures worldwide, mostly in developed economies.

Events coverage

Roundtable with UK journalists considers chances for Polish-UK trade in IT services following Brexit

BPCC member Future Processing, a Gliwice-based IT firm that employs over 850 people and earns the majority of its income in the UK, has published a report looking at the role that uncertainty plays among UK business leaders.

Events coverage

BPCC HR Review: how to keep the best employees in a company

27 November 2019, InterContinental Hotel, Warsaw

Events coverage

How can workplace bullying be tackled effectively?

On 22 November 2019, members of the BPCC’s HR policy group met with Karolina Stawicka, Paulina Grotkowska and Michał Zabost, labour law experts from law firm Bird & Bird Law, to discuss anti-mobbing procedures.

Events coverage

Settling foreigners’ tax and social-security obligations

For a foreigner working in Poland, ZUS and PIT regulations are black magic. They differ significantly from the rules by which Polish employees pay their tax and social-security contributions.

Events coverage

Real Estate and Construction Breakfast looks at green building

A long-running and popular series of events, the BPCC’s breakfasts bring together stakeholders from the built environment – investors, developers, contractors, engineers, architects and of course real estate advisors.

Events coverage

Szczecin business discusses tax changes and PPKs

Over 40 entrepreneurs and employees from finance and accounting departments took part in a meeting Changes in taxes and PPK - what should every entrepreneur know.

Events coverage

Speed Business Meeting

5 November 2019 at the Warsaw Marriott Hotel