One-third of Poles have financial commitments - report

As many as 35 percent of Poles took up a loan or other form of a financial commitment in the last two years, according to a report by Profi Credit. Women took up more loans than men (39 percent to 32 percent), such forms of financing were also popular with older people  (44 percent of people between 25-39 years took up loans, while only 14 percent of those up to 24 years are in debt.) “On one hand, young Poles usually do not have to incur financial obligations - they can always count on the closest ones who will help when the wallet runs out of cash, on the other, they’re the most risk-heavy clients for the banks, with short job tenure and no credit history,” said Jarosław Czulak, marketing director at Profi Credit. Poles also prefer taking up loans in a traditional way in brick and mortar branches (54 percent), while 32 percent would be willing to do it online. “Numerous studies show that despite the high level of adaptation of new technologies, Poles still prefer to perform more complex offline financial operations, but we should expect that with the increasing digitization of financial services, our confidence in online channels will grow,” Czulak added.