Banks have recently recorded a decrease in number of granted consumption loans as well as decrease of their value, which was observed for the first time in May. The slackening on the market of mortgage loans was also noticeable in the same month. Moreover, government programs such as "Rodzina 500+" and "Mieszkanie Plus" will be of great importance to both segments.
According to the news organization Newseria Biznes, data of BIK shows that 592 thousand consumption loans were granted in May. Their total amount is 6.6 billion zlotys. It is by 4.4 per cent less in terms of numbers and by 0.9 per cent less in terms of value in comparison to May 2015. In that time there were 2.8 million credits during the first five months and their total amount was 32.5 billion zlotys. The number of microcredits granted by banks decreased to 4 thousand. This gap is filled by loan companies. We can observe a clear transfer of microfinancing in their direction – says Waldemar Rogowski, Main Credit Analyst of Biuro Informacji Kredytowej, during the talk with Newseria Biznes.
The previous two years were record-breaking in the value of granted consumption credits. The present year brought stabilization in interest of these products by the bank sector. We still claim that consumption credits will be stable and their value can increase by several per cent at decrease of their number. The outlook, however, is burden with some risk related to the significance of the "Family 500+" program – points out Waldemar Rogowski during the talk with Newseria Biznes. According to estimates of the Ministry of Family, Labor and Social Policy, even 2.7 million families can be granted means from this program, which can have an impact on benefiting from consumer credits.
We are going to find out within several months whether the program has caused decrease of demand for consumption loans, or quite the opposite. Stable incomes from the program can be the grounds for getting a loan. There is also a fundamental question: will the banks regard the money from this program as a stable income? In accordance with the recommendation of KNF, only stable and long-term incomes can be taken into consideration while assessing the credit capacity – explains Waldemar Rogowski.
Moreover, demand for mortgage loans is also smaller – 83.7 thousand credits were granted from January in the amount of 17.6 billion zlotys. The number of granted housing loans amounted to 16.1 thousand in May, that is by 3.4 per cent less in comparison to the previous year. The government project "Mieszkanie Plus" can contribute to decrease in number of people who take loans for apartments, because they prefer less expensive lease offered by the program.