Record value of bank loans. BIK: March's value was the highest in history

“In March 2024, loan companies granted a total of 1,189 thousand new loans worth PLN 1.722 billion. Compared to March 2023, loan companies cooperating with BIK granted 251 percent more loans for an amount 110 percent higher,” BIK informs latest report.

Average loan amount in March this year. amounted to PLN 2,524, which means an increase of 12%. compared to data from March last year. This time, the average value of a special-purpose loan decreased to PLN 753 and was as much as 80 percent. lower compared to calculations from a year ago.

BIK calculates that in the March sales of non-bank loans, in numerical terms, 60.6 percent were targeted loans. Also on the podium were cash loans (38.1%) and cards and loan limits (1.4%). In terms of value, cash liabilities dominated.

According to the report, in the first quarter of this year the total value of liabilities granted by lending companies amounted to PLN 4.85 billion (an increase of 111% compared to Q1 2023). The value of cash loans granted amounted to PLN 3.25 billion (an increase of 70% y/y), dedicated loans to PLN 1.41 billion (an increase of 371% y/y), and cards and loan limits to PLN 0.2 billion ( increase by 128% y/y).

– The non-bank loan sector is growing rapidly, both in 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 Analysis Team of the Credit Information Bureau.

As he noted, “the largest increase in sales of cash loans occurred among high-value liabilities above PLN 5,000, 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 – concluded the expert.