Recession means good growing business for loan intermediaries

In 2002 the biggest loan intermediaries granted loans totalling over zl. 7.8 billion, which is 16.8% more than in 2001. This is especially important, as in the meantime the indebtedness of the public to the banks decreased from 13.6% to about 8%. There were no changes among the top four companies with Lukas still leading. Lukas granted loans of zl. 2.4 billion in 2002. Moreover, the top four controlled 73% of the market in 2001, while a year later their share stood at more than 81%. The intermediaries mention unemployment, decreasing real income and weak macroeconomic data, as the factors most negatively affecting the market. However, the big players managed to increase value of the loans granted, as they have, "Operated on the market for several years and know how to act in times of recession," said president of Zagiel Michal Oziemblo. (Rzeczpospolita, Jan. 11-12, p. B1) M.M.