BIK: The value of cash loans at banks and credit unions increased by 34.3% y / y in X
Banks and credit unions granted 26.2% more y / y cash loans in numerical terms in October 2021, the Credit Information Bureau (BIK) reported. In terms of value, there was an increase by 34.3%.
In the period January - October 2021, banks and SKOK-i granted a total of 2 644.5 thousand. cash loans (+ 18.7%) in the amount of PLN 56.26 billion (+ 29%), it was announced.
"Cash loans from all amount ranges recorded positive dynamics in the ten months of 2021 compared to the same period last year. However, large-value loans are the main driver of growth. They recorded the highest positive dynamics of lending from January to October 2021 both in in terms of numbers and values. 41.8% L) and (42.7% W)," said the chief analyst of BIK Waldemar Rogowski.
He added that loans for higher amounts accounted for 64.7% of the sales value in the first ten months of 2021. PLN have a 43.9% share in the value of lending. In numerical terms, the share of loans from these two ranges is 22% of the number of cash loans granted in the period January - October.
For cash loans, the average value of a loan taken out in October 2021 is PLN 21 670 - an increase by 6.4% compared to October 2020.
Cash loans are characterized by the highest loss ratio among all product groups - the October reading of the Quality Index for cash loans is 3.96%, it was also indicated.
"Compared to October 2020, the value of the Cash Loan Quality Index deteriorated (increased) by 0.25 percentage points, the most of all loan products. However, it should be remembered that in October last year the Index recorded one of the lowest values in history After the deterioration in the reading in March compared to February 2021, we have seen an improvement (decrease) in the Index for seven months in terms of m / m, which is undoubtedly a positive signal, encouraging banks to grant these loans," concluded Rogowski.
Source: BIK and ISBnews