Significant rise in consumer loans

Bank and credit unions in Poland granted consumer loans worth PLN 37.7 billion in the first half of 2014, according to data from the Credit Information Bureau (BIK) quoted by the Polish Press Agency. The figure was higher than the one recorded in 2008, when the sector saw its previous peak. In H1 2013, the value of consumer loans amounted to PLN 32.8 billion. In H1 2008 the value was PLN 36.8 billion, BIK said. The company said that the quality of consumer loans granted this year has improved compared to earlier times. “Both lenders and borrowers are much more cautious than they were in 2007-2008, which allows for the assumption that we may avoid an overheating of the market this time,” BIK added.