Value of loans from loan companies increased by 47.5% y / y H1 2022 Poland

The total sales of loan companies cooperating with BIK in the first half of 2022 amounted to PLN 4.459 billion in terms of value and 1.778 million in terms of numbers, according to data from the Credit Information Bureau (BIK). In the period of January-June 2022, compared to the corresponding period of 2021, in terms of value, loan companies cooperating with BIK granted loans for an amount higher by 47.5%, and in numerical terms, they were granted by 36.2% more.

"The first half of this year is a continuation of last year's boom. There is no trace of the large drops in 2020. The value of loans granted in the first half of 2022 is 99.7% higher than the value in the first half of 2020. In terms of numbers, it is 84% higher. Equally good, though less spectacular, is the comparison with the first half of 2019, i.e. the period before the pandemic.In this case, the dynamics of the value of loans granted is (+ 29.4%), and The non-bank loan market in the first half of 2022, in terms of quantity and value, grew significantly both compared to 2019, 2020 and 2021. It can therefore be concluded that this market is currently very good," said BIK's chief analyst. Waldemar Rogowski.

The sale of loan companies is primarily determined by the growing demand for loans. After the collapse in the first months of the pandemic, demand began to recover in the summer of 2020. In 2021, demand has recovered for good, and is now on the rise. The dynamics of loan applications in January-June 2022 compared to the same period last year is + 20.9%.

"Currently, the non-bank loan market undoubtedly records large increases due to two phenomena, i.e. increasing demand for financing of current expenses by some households as a result of rising inflation and the growing role of BNPL loans. I think that the sale of non-bank loans should continue to rebound in the second half of the year. , of course, if there are no negative pandemic events (sudden increase in infections), deterioration of the global situation or recession in the Polish economy. This will mainly result from the growing demand for financing current needs as a result of rising prices and a slowdown in wage growth," added Rogowski.

The expert pointed out that possible regulatory changes are an additional factor that may adversely affect the loan market.

Another key factor determining the current and future situation on the loan market is the possibility of obtaining financing by loan companies in an environment of increasing risk and rising interest rates (the cost of obtaining financing) and restrictions on the possibility of issuing corporate bonds.

Source: BIK