Lech Kurkliński
pages: 49-59, JEL classification: G21, M14, Key words: financialization, Polish banking industry, cultural context Abstract: The article is dedicated to changes in the cultural attitude of Polish society towards the banking sector under the conditions of progressing financialization and arising consequences for the banking sector. First of all, attention is focused on the cultural characteristics of Poles, their attitude towards finance, especially in the period of transition. The main reference to cultural conditions relates to the tendency to save, incur loans, and the attitude towards banks. It is complemented, among other things, by the model of cultural dimensions by G. Hofstede and S. Schwartz, in line with which attempts are made to explain the mechanisms shaping the financial (banking) system and the financialization tendency. This picture is confronted with the present shape and evolution of the Polish banking sector since 1989, including the role of foreign capital. In particular, attention is focused on the image of banks towards challenges related to the global financial crisis and the main problem of Polish banking institutions, namely household mortgage debt in foreign currencies. The author presents a thesis that significant financialization cannot be indicated in Poland and the historical and cultural aspects do not cause its expansion to the same degree as in a number of other countries. However, certain features, such as preference for loans rather than savings, are favorable for this direction.