“The non-bank lending sector is growing rapidly in both number and value. March sales were the highest in history. The largest part of these sales were cash loans, which were granted in March for a record amount of PLN 1.14 billion,” said Sławomir Nosal, head of the BIK Analysis Team, quoted in Tuesday's press release by the Credit Information Bureau.
Loan companies cooperating with the Credit Information Bureau in March 2024 granted a total of almost 1.19 million new loans worth over PLN 1.7 billion. This is an increase of 251% compared to March 2023. in terms of number and by 110 percent. in terms of the value of loans granted.
According to BIK data, the average value of a cash loan granted in March 2024 was PLN 2,524 and was 12%. higher than the average amount granted in March 2023. However, the average value of the newly granted special-purpose loan in March 2024 was PLN 753 and was 80 percent higher. lower than the average value of such a loan granted a year earlier.
“It is worth noting that the largest increase in sales of cash loans occurred among high-value liabilities above PLN 5,000. PLN, where the dynamics exceeded +90%. y/y. An argument determining the high interest in loans granted by non-bank companies may be easy and quick access to financing,” said Sławomir Nosal.
In March sales of non-bank loans in numerical terms, 60.6 percent. were special purpose loans, 38.1%. cash loans and 1.4 percent cards and loan limits. In value terms, 29.6 percent. are targeted loans, 66.3 percent cash loans and 4.1 percent cards and loan limits.
BIK also reported that in the entire first quarter of 2024, loan companies granted liabilities in the amount of PLN 4.85 billion, which means an increase of 111%. compared to the first quarter of 2023. The value of cash loans granted amounted to PLN 3.25 billion (an increase of 70% year-on-year), dedicated loans amounted to PLN 1.41 billion (an increase of 371%), and cards and loan limits amounted to PLN 0.2 billion (an increase of PLN 128 percent). (PAP)
author: Marek Siudaj
