Banks expected to grant over record-high PLN 40 bln in mortgages – report

According to report by the Polish Bank Association (ZBP) market lobby, lenders will issue over PLN 40 billion worth of mortgages, exceeding the previous record of PLN 40 billion set in 2012. The previous PLN 39 billion forecast was raised after “spectacular results of the banking sector in mortgage lending in Q1, which was maintained in Q2,” the report said. Between April-June, 49.8k housing loans were granted, down by 0.8 percent q/q, while their value increased by 6.1 percent to PLN 11.69 billion. The value of an average mortgage in Q2 amounted to PLN 234.5k, up by 7.1 percent q/q. ZBP expects 200k housing loans will be issued this year.