CONTENTS Using money – methods of paying and purchasing,

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1 CONTENTS Using money – methods of paying and purchasing,
Michał Stalmach Inflation Michał Rogowski Private banking Jakub Jaworski Savings – saving facilities in Poland Karol Dąbrowski

2 METHODS OF PAYING AND PURCHASING
USING MONEY METHODS OF PAYING AND PURCHASING

3 PAYING METHODS Cash Cheque named cheque cheque to bearer blank cheque
dud cheque overdue cheque honour on presentation Traveler`s cheque

4 PAYING METHODS Credit card Debit card Bank card (cash card) Smart card
Transfer

5 METHODS OF PURCHASING Hire purchase Buy on instalments Buy at auction
Buy at fair But at sales bargain sales clearance sales seasonal sales

6 DICTIONARY Agreed - uzgodniony Bank card (cash card) – karta bankowa
Bargain - okazja Blank cheque – czek bez wpisanej kwoty Buy on instalments – kupować na raty Cash – realizować (czek) Cash dispenser - bankomat Cheque to bearer – czek na okaziciela Clearance sale – wyprzedaż likwidacyjna Cover - zabezpieczenie Credit card – karta kredytowa Debit card – karta debetowa Draw – wystawić Drawer – wystawca weksla Dud cheque – czek bez pokrycia

7 DICTIONARY Fair - targi Hire purchase – sprzedaż ratalna
Honour – honorować (czek) Liquid - płynny Named cheque – czek z imieniem odbiorcy On presentation – za okazaniem Overdue – przeterminowany Payee – beneficjent, odbiorca weksla Sale - wyprzedaż Smart card – karta magnetyczna Transfer - przelew Traveller`s cheque – czek podróżny

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9 INFLATION A rise in the general level of prices as measured against some baseline of purchasing power

10 Types of inflation Demand – Pull Inflation – when there is too much money in the circulation Monetary Inflation – producers are not able to change the structure of production Cost – Push Inflation – rise of production costs

11 Causes of Inflation Unbalanced national budget
Defective structure of economy To many investments in the country Rise of the basic energetic raw materials prices

12 Consequences of Inflation
Personal Negative Positive General

13 Personal consequences Negative
Have people who keeps their money in „pocket” or on savings account People who works (get increase and pay higher taxes) Banks that gives long - term loans

14 Personal consequences Positive
Takes people who buys earlier cheaper goods and sells them as much more expensive Incurs mortgage credit during the inflation

15 General consequences Aversion of businessmen to take investments in the country Devaluation of national currency Impairment of national credibility to the creditors

16 DICTIONARY Money in circulation – pieniądze w obiegu
Restock – uzupełniać Limitations – ograniczenia to induce – wywoływać Rate – stawka to incur – zaciągać( np. kredyt) Impairment – osłabienie Credibility – wiarygodność

17 PRIVATE BANKING WEALTH MANAGEMENT

18 PRIVATE BANKING Services which are offered to the wealthiest clients of a bank, it is a individual and comprehensive financial system of service of wealthy individual client by bank

19 CATEGORIES OF CLIENTS HNWI – high-net-wealth individuals – financial assets over 1 mln USD, Extremely wealthy - financial assets over 5 mln USD, U-HNWI – ultra high-net-wealth individuals – super rich - financial assets over 30 mln USD,

20 HISTORY OF PRIVATE BANKING
England in XVII century Aristocracy Landowners, Merchants, Entrepreneurs, Geneva Julius Baer, Picted, Lombard Odier,

21 10 WORLDS BIGGEST BANKS OFFERING PRIVATE BANKING
Union Bank of Switzerland 422 bln USD CSPB bln USD JP Morgan Chase bln USD Deutsche bln USD Citibank bln USD Merrill Lynch bln USD ABN Amro bln USD Bank of America bln USD HSBC bln USD BNP Paribas bln USD

22 ORGANIZATIONAL SOLUTIONS IN MODERN PRIVATE BANKING
Separate department of big retail bank, Separate department of investment bank Modern private banking in old traditional private bank

23 TRADITIONAL PRIVATE BANKING
Keeping wealth’s value, Low volume of turnovers, Low market share, Elitist, Specialist advisory, High unit profit,

24 PRODUCTS OFFERED IN PRIVATE BANKING
Investment products, Risk management, Traditional bank service, Financial, estate planning and advisory,

25 INVESTMENT PRODUCTS Equity, Fixed income, Hedge funds,
Structured products, Options,

26 RISK MANAGEMENT Portfolio diversification strategies,
Stock option strategies,

27 TRADITIONAL BANK SERVICE
Loans, Mortgages, Checking/saving accounts, Business accounts,

28 FINANCIAL, ESTATE PLANNING AND ADVISORY
Tax planning, Estate planning, Trust administration, Estate administration, Insurance,

29 WHY PEOPLE USE PRIVATE BANKING?
Individual service and advisory, Snobbery, Elitist, ”Made-to-measure” offers

30 WORLDS MARKET SHARES OF WEALTH MANAGEMENT

31 PRIVATE BANKING OFFERS IN POLAND
Name of the program/ name of the basic account Criterion of qualifications personal account or location account, Payment for packet Interest rate of basic account Available prestigious cards Yes - negotiable Yes – negotiable, Standard payment for ELITA account 15 PLN monthly Depends on balance and type of account Diners Club, Visa Gold KB/Warta credit card, Visa Platinum, Master Card Platinum credit card, Additional elements of offer Receipts in account – PLN Assets of PLN Assets of Conditionally for clients with assets over PLN - Receipts in account – PLN -Negotiable exchange rate, -Automatic overnight deposit, -Deposit policy – attractive form of saving’s invest, -Service in separate establishments, -Foreign assets management, -Service Raiffeisen Concierge for owners MC Platinum -Quality certificate EN ISO 9001:2000 for service Private Banking, -Free Assistance insurance packet, -Bank assurance offer -Warta Vip client’s card

32 PRIVATE BANKING OFFERS IN POLAND
- Private Banking Program, - Private Banking Account, - Private Banking & Investment Program, - Private Banking Account Receipts in account – PLN or Assets of PLN Name of the program/ name of the basic account Criterion of qualifications Payment for packet Interest rate of basic account Available prestigious cards Additional elements of offer Assets of PLN Yes – negotiable, Standard - 60 PLN monthly 2.2% - 3.7% Depends on balance account Classified balance account, 10000 PLN debit balance without payments, Negotiable exchange rate, Bank assurance offer

33 PRIVATE BANKING OFFERS IN POLAND
Name of the program/ name of the basic account Criterion of qualifications Payment for packet Interest rate of basic account Available prestigious cards Additional elements of offer - PLATINIUM Private Banking Program, - PLATINIUM Private Banking Account, Receipts in account – PLN or Assets of PLN Assets of PLN Yes – negotiable, - Private Banking, - VIP Account, Free of charge – in case of balance account under PLN /payment 30 PLN monthly Bank - Visa Electron or MasterCard with chosen by user picture – My Card ING - Visa Gold credit card, 0% But it is possibility to invest surplus in automatic OKO deposit with interest rate from 3.5% to 3.75% 5.000 PLN debit balance, Financial Advisory, Free renewable credit to PLN, PLATINIUM Cash Credit, ”Program of Privileges” partnership program, -Free assurance, -Classified balance account, -Renewable credit line, -Assurance Investment Deposit,

34 PRIVATE BANKING OFFERS IN POLAND
Name of the program/ name of the basic account Criterion of qualifications Payment for packet Interest rate of basic account Available prestigious cards Additional elements of offer Bank Assets of PLN Receipts in account – PLN or Assets of PLN -Private Banking, -Prestige Euro account, Yes – negotiable, Min. 30 PLN monthly Free of charge – in case of balance account under PLN /payment 70 PLN monthly -A’vista Account or GOLD Account, -Millennium Prestige, Prestige Personal Account, 0.10% negotiable 1.00% -Prestige IKM, Visa Platinum, -MasterCard Platinum, -MasterCard World Signia -Visa Platinum BRE Private Banking, -American Express Centurion Card, Negotiable exchange rate, Loan in Euro Account, ”Helpful Packet” insurance packet, Private Club or Private Consulting partnership program for users of World Signia or Visa Platinum credit card, Assets management products, ”Made-to-measure” products, -Renewable credit line, -Bank assurance offer, -PRESTIGE Investment program, -PRESTIGE Guarantee policy,

35 PRIVATE BANKING OFFERS IN POLAND
Name of the program/ name of the basic account Criterion of qualifications Payment for packet Interest rate of basic account Available prestigious cards Additional elements of offer Bank -Platinum Packet, -Platinum Account, -CITI Gold wealth management, -CitiGold Personal Account, Assets of PLN, Assets of PLN, Free of charge – in case of balance account under PLN /monthly payment 95 PLN, – in case of balance account under PLN /quarterly payment 250 PLN, 0% % Depends on balance account 0,50% -Maestro gold payment card, -Citibank Platinum credit card, -Automatic overnight deposit, -Foreign investment funds, -Service in international centres of Fortis Private Banking, -CITIBANK credit line, -Guarantee policy, -Bank assurance offer, -Access to Citi Gold Investment Centre for the wealthiest clients (over USD), Negotiable exchange rate, ”Gold Land for Friends” Program,

36 PRIVATE BANKING OFFERS IN POLAND
Name of the program/ name of the basic account Criterion of qualifications Payment for packet Interest rate of basic account Available prestigious cards Additional elements of offer Bank Receipts in account – PLN or Assets of PLN Yes – negotiable, 0.75%- 5.55% Depends on balance account -Free investment recommendations - investment portfolios, -Foreign investment funds, -Hedging funds, -Assurance products, -Status packet, -DB Fokus Account

37 DICTIONARY account - konto financial assets – aktywa finansowe,
separate departments – wydzielone departamenty retail bank – bank detaliczny investment bank – bank inwestycyjny turnover – obrót volume – wolumen value – wartość market share – udział w rynku specialist advisory – specjalistyczne doradztwo unit profit – zysk jednostkowy

38 DICTIONARY portfolio diversification strategies – produkty związane ze strategią dywersyfikacji portfolio, stock option strategies – strategie opcji giełdowych, loan – pożyczka, mortgage – hipoteka, checking / savings account – rachunek rozliczeniowo – oszczędnościowy, business account – rachunek biznesowy estate administration – administrowanie nieruchomościami, trust administration – administrowanie funduszami powierniczymi, estate planning – doradztwo w zakresie nieruchomości,

39 DICTIONARY assets of… - aktywa o wysokości ….
depends on balance – w zależności od salda exchange rate – kurs waluty Separate establishment – wydzielona placówka, basic account – rachunek / konto podstawowy personal account – rachunek / konto osobiste (A' vista) interest rate – oprocentowanie classified balance account – utajnione saldo rachunku, debit balance – saldo debetowe, free renewable credit – kredyt odnawialny credit line – linia kredytowa policy – polisa

40 DICTIONARY guarantee policy – polisa gwarancyjna
foreign investment fund – zagraniczny fundusz inwestycyjny, assurance – ubezpieczenie, głównie na życie, recommendation – rekomendacja to open an account – założyć konto, to close an account – zamknąć / zlikwidować konto, interest (on) – odsetki (od) bull market – hossa bear market - bessa bond – obligacja securities – papiery wartościowe,

41 DICTIONARY investment product – produkt inwestycyjny, equity – akcje
fixed income – papiery o stałym dochodzie, hedge fund – fundusz hedgingowy, structured product – produkt strukturyzowany, option – opcja, risk management – zarządzanie ryzykiem liquidity – płynność derivatives – instrumenty pochodne to audit – rewidować clearing - rozrachunkowy

42 DICTIONARY tax planning – doradztwo podatkowe,
insurance – ubezpieczenie, asekuracja ”made-to-measure” offer – oferta „szyta na miarę” czyli dostosowana indywidualnie do potrzeb klienta, client - klient , np. banku, adwokata lub innej instytucji, elitist – elitarny, snobbery – snobizm receipt in account – wpływ na rachunek negotiable – do negocjacji, payment – płatność

43 Structure of savings in Poland
Bank deposits Cash Direct investments (shares, bonds, T-bills) Investment funds Insurance capital funds Open Pension Funds

44 Level of savings in Poland
Savings – 50% GDP CAGR exceeded 10% CAGR 2005 – 16%

45 Level of savings in Poland
Dec ’ Dec ’ Dec ’ Dec ’ Dec ’03 Dec ’04 Dec ’05 INVESTMENTS

46 Level of savings in Poland
Dec ’ Dec ’ Dec ’ Dec ’ Dec ’03 Dec ’04 Dec ’05 Open Pension Funds Insurance capital funds Investment funds Direct investments Cash Bank deposits INVESTMENTS

47 Structure of savings in 2005

48 Level of savings in Poland SUMMARY
Stable level of banking deposits Restraining growth of direct investment Share drop of bank deposits to less than 50%

49 Level of savings in Poland SUMMARY
Fast growth of Investment fund signification Growing matter of Pension fund

50 Level of savings in Poland SUMMARY
People are able to accept higher risk level - reasons Bull market Huge privatizations Rising importance of common investment institutions

51 DICTIONARY Bank deposits - depozyty bankowe Cash - gotówka
Direct investments (shares, bonds, T-bills (tresury-bills)) - inwestycje bezpośrednie (akcje, udziały, obligacje, bony skarbowe) Insurance capital funds - ubezpieczeniowe fundusze kapitałowe Open Pension Funds - otwarte fundusze emerytalne common investment institutions - instytucje wspólnego inwestowania CAGR - compound annual growth rate - średnioroczna stopa wzrostu