Poles take loans as never before. A record was broken!

Poles take more loans. Loan companies granted in August this year by 27.3% more loans compared to August 2021 – the Credit Information Bureau reported. The value of granted loans also increased by 29.3% Yy and it is a new record.

The data from the Credit Information Bureau shows that in August 2022 loan companies cooperating with the Bureau granted a total of 330.5 thousand new loans with a value of PLN 865 million, it is 29.3% in terms of value, and 27.3% in terms of numbers. Loans in the range from 3,000 increased the most in terms of numbers (+34.2%) and value (+36.3%). up to 5,000 PLN – given.

A new record

It added 41.6 percent. the value of newly granted loans in August this year. loan companies granted over PLN 5,000 PLN, which accounted for 10.2 percent. loans granted. Nearly half of the loans are those up to the amount of PLN 1,000. zloty. However, in terms of value, they were only 10.4 percent share in sales.

According to BIK, the average value of the newly granted in August this year. a non-bank loan amounted to PLN 2,337 and was at the level of the average value of a loan granted in August 2021.

According to the chief analyst of the BIK Group, Waldemar Rogowski, PLN 865 million of loans granted in August is the highest monthly value of loans granted by non-bank companies since January 2017.- This means a nominal increase of 29%. compared to August 2021 “- he indicated.

Increases are in nominal terms

As he explained, these increases are in nominal terms, but in assessing the value of sales, one cannot forget about rising inflation. Taking into account the increase in inflation in August at the level of 16.1% y/y, the August reading of sales dynamics in real terms amounted to approx. 11-12 percent The analyst said.

Source: BusinessInsider

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I am from Denmark but have lived and done business in Poland since the Spring in 2008. I have had a webshop with Scandinavian designed products, and event company in Poland. Today I am a business consultant and b2b IT consultant plus sales agent on the Polish market. I have lived/done business in 3 different cities and in 3 different regions (voivodeships) in Poland. My business network and knowledge about doing business in Poland and about Poland are therefore very big.

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