Loan products remain the core operational activity of commercial banks in Poland. Lending is a source of the bulk of banks' profits and has a strong effect on their image. Therefore the implementation of an appropriate strategy of promotion of loan products is an issue of vital importance. It requires adequate determination of the goals of promotion and proper selection of tools to reach them, including, inter alia, means of advertising.

One of the major characteristics of advertising as a basic instrument of promotion of banking products should be its ethicality. Definitions of ethical advertising usually indicate the requirement of its consistence with moral standards (which are founded on socially accepted moral values) and legal regulations. When evaluating the ethicality of advertising, the level of its consistence with the aforementioned factors is examined. When determining whether promotional activities of banks are ethical or non-ethical, the specific character of banking activity and the marketing products offered by banks should be additionally taken into account.

In the above context, a detailed definition of ethical characteristics of advertisements of loan products and an evaluation of the ethicality of advertising practices on the credit market in Poland have become the primary purpose of the article. Examining the nature of advertising pursued by banks has also enabled an assessment whether the written declarations of banks as to their reliability towards customers are discordant with their marketing practice.

The initial part of the article presents the basic aspects of advertising as an instrument of communication of the bank with the market, significant from the perspective of business ethics. The starting point for the evaluation of advertisements of loan products in terms of their ethicality was defining advertising and systematizing the primary features of specific loan products. It was necessary due to the specific character of banking activity and of products offered by banks that to a large extent condition the processes of marketing communication of banks with customers being private individuals. The conclusions drawn from the analysis have been taken into consideration in the following classification of types and targets of advertisements and in the description of particular forms of marketing. Pursuant to the above, and taking into account the legal regulations in force, a list of factors determining the ethical character of advertisements of loan products has been drawn up. It has enabled to create a template of ethical advertisement, which has been next applied in the evaluation of advertising practices of banks in Poland.