Poland's housing loans soars 20% in Q1

The number of granted housing loans in Q1 grew by 19.6 percent q/q in Q1 to 50.2k, according to data released by the banking lobby ZBP. The increase was driven by the popularity of MdM subsidy program. Housing loan origination increased by 12.6 percent q/q to PLN 11 billion, with margins on loans staying the same. The housing loans stock at the end-Q1 amounted to PLN 390.11 billion, down by 0.83 percent q/q, mostly due to CHF weakening against PLN.