Value of credit for consumption and housing is growing

The value of consumer loans granted in August increased in Poland by 4.7 percent y/y and amounted to PLN 7.37 billion, the Credit Information Bureau (BIK) said. In numerical terms, banks and credit unions granted a total of 634,600 consumer loans. This represents a decrease of 1.8 percent. Compared to July 2019, the number of loans granted decreased by 5.4 percent. and the value by 10.5 percent.
Cumulatively 4.82 million of consumer loans worth PLN 60.2 billion have been granted since the beginning of the year. In comparison to the same period last year, it is by 1.0 percent fewer loans and by 7.6percent higher value of loans granted.
BIK also said that banks granted 20,400 housing loans for a total value of PLN 5.61 billion in August 2019. This is an increase of 18.4 percent in value compared to August 2018. In numerical terms, banks granted 10 percent more housing loans. In the period January - August 2019, banks granted 159,200 housing loans in the amount of PLN 42.87 billion. The increase compared to the same period last year concerned both the number (2%) and the value of housing loans granted (13.6%).

(PAP)