Major investment banks have turned bearish on Poland’s banking sector, with analysts from Citi, Erste Group, and Oddo BHF downgrading recommendations for several lenders listed on the Warsaw Stock Exchange (GPW).
The coordinated shift in sentiment signals growing skepticism about the sector’s near-term performance, as experts argue that broader market conditions are limiting upside potential for most domestic banks.
According to reports from Puls Biznesu, the downgrades reflect a consensus view that the Polish banking industry lacks significant growth catalysts at present.
While the majority of stocks in the sector face negative pressure, some analysts maintain that a select few individual names remain undervalued, offering limited opportunities for contrarian investors.
However, these pockets of value are not enough to offset the broader pessimism surrounding the group.
The move comes amid a wider backdrop of caution in European equities, where defensive positioning is becoming increasingly difficult.