Cash loan growth surges in 2024

Banks and credit unions issued 13.9% more cash loans year-over-year in August 2024, totaling 344.2 thousand loans, according to the Credit Information Bureau (BIK). In value terms, loans grew by 27.8% to PLN 8.316 billion. The average loan amount rose by 12.2% to PLN 24,159.

From January to August 2024, the number of cash loans increased by 11.5% year-over-year, while their value surged 24.8% to PLN 60.874 billion. BIK’s chief analyst, Waldemar Rogowski, attributed this rise to growing consumer needs, inflation, and greater loan availability due to higher incomes. Loans exceeding PLN 50,000 were a key driver of this growth.