Banks in Poland are preparing to change the direction of their lending policies. After a quarter in which they eased financing conditions across almost all market segments, they expect to tighten lending standards for households in the third quarter of 2026, covering both mortgages and consumer loans, while continuing to ease their policies towards small and medium-sized enterprises.
These are the findings of a National Bank of Poland survey conducted among the chairs of credit committees at 23 banks, representing approximately 89% of the banking sector’s total loan portfolio.
- +42.2%
Net easing of standards for long-term loans to SMEs in Q2 2026 — the strongest result recorded in this edition of the survey - –19.3%
Expected net tightening of consumer lending standards in Q3 2026 - +52.8%
Net increase in demand for housing loans in Q2 2026 - 23 banks
Covered by the survey, representing approximately 89% of the banking sector’s loan portfolio
Credit Standards: Easing Gives Way to Caution
In the second quarter of 2026, banks once again eased their lending standards for businesses. The strongest easing was recorded in the SME segment, where the net percentage amounted to 37.7% for short-term loans and 42.2% for long-term financing.
The easing was considerably weaker for large enterprises, at 14.7% for short-term loans and 14.1% for long-term loans.
Lending standards for households remained virtually unchanged. The net percentage was 4.4% for housing loans and only 1.8% for consumer credit.
For the third quarter of 2026, banks expect to reverse this trend in the household segment. Mortgage lending standards are expected to tighten, with a net percentage of –6.1%. Approximately 25% of banks plan to tighten their standards, while 19% intend to ease them further.
Consumer lending standards are expected to be tightened more substantially, with a net percentage of –19.3%.
At the same time, banks do not anticipate significant changes in their lending policies towards large enterprises, with net percentages of –3.6% for short-term loans and –2.5% for long-term loans. They intend to continue easing standards for SMEs, with corresponding net percentages of 19.3% and 17.6%.
Lending Terms for Businesses in Q2 2026
In addition to easing their credit standards, banks also relaxed all the surveyed lending terms for businesses. The most significant change was a reduction in lending margins.
| Lending term | Net degree of easing |
|---|---|
| Lending margin | 44% |
| Maximum loan or credit-line amount | 19% |
| Non-interest lending costs | 12% |
| Maximum loan maturity | 10% |
| Collateral requirements | 10% |
Banks identified competitive pressure as the main factor behind the easing of their lending policies towards businesses. This included competition from other banks, with a net percentage of 45%, and from non-bank financial institutions, at 17%.
The same mechanism, albeit with varying intensity, contributed to the easing of lending terms across all three market segments covered by the survey.
Demand Is Increasing Across the Market, but Banks’ Forecasts Differ
In the second quarter of 2026, banks reported increased demand for loans in all the analysed segments.
The strongest growth was recorded for housing loans, with a net percentage of 52.8%, and consumer credit, at 48.3%.
Demand also increased for SME financing, with net percentages of approximately 41% for short-term loans and 40% for long-term loans. For large enterprises, the figures were 28% and 30%, respectively.
Forecasts for the third quarter of 2026 differ significantly depending on the market segment.
Banks expect a further strong increase in demand from large enterprises, with net percentages of 45.3% for short-term loans and 49.2% for long-term loans.
They also expect moderate growth in demand for housing loans, at 21.4%, and consumer credit, at 19.1%, despite the planned tightening of standards in both segments.
The outlook for SMEs is completely different. Banks expect demand for both short- and long-term loans to decline, by net percentages of –24.5% and –26.0%, respectively, even though they simultaneously intend to continue easing their lending policies towards these companies.
A comparison of the figures reveals a clear divergence in the SME segment. Banks plan to continue easing their lending standards, with net percentages of 19.3% and 17.6%, while at the same time forecasting a decline in demand of 24.5% and 26.0%.
This combination suggests that the main constraint is not the availability of bank financing, but the weakening investment appetite of small and medium-sized enterprises.
The situation differs from that of large companies, where banks expect lending policies to remain broadly stable while demand continues to increase.
Mortgages: Lower Margins, but Tighter Standards Ahead
In the mortgage segment, banks left their lending standards unchanged in the second quarter of 2026 but once again reduced their lending margins, with a net percentage of 21%.
Banks attributed the 52.8% increase in demand primarily to favourable forecasts for the housing market, with a net percentage of 39%, as well as the previous easing of lending terms, at 19%, and standards, at 15%.
Demand was also supported by reduced use of alternative sources of financing, particularly household savings, at 19%. In other words, fewer customers are financing home purchases without taking out a mortgage.
For the third quarter, banks plan to tighten mortgage lending standards, with a net percentage of –6.1%. Approximately 25% intend to introduce an actual tightening, while 19% expect to ease their standards further.
Demand is nevertheless expected to continue growing, with a net percentage of 21.4%.
Combined with more restrictive lending standards, this may result in longer decision-making processes and stricter creditworthiness requirements for borrowers during the second half of the year.
Consumer Credit: The Strongest Expected Tightening
A similar, although more pronounced, pattern can be seen in consumer lending.
In the second quarter, banks kept their lending standards virtually unchanged, with a net percentage of 2%, while easing their terms. This was achieved primarily by reducing margins on standard loans, at 47%, and on higher-risk loans, at 23%.
Demand increased by a net 48.3%, mainly as a result of the earlier easing of lending terms, at 31%, and standards, at 14%, as well as increased demand for financing purchases of durable goods, also at 14%.
For the third quarter of 2026, banks expect the strongest tightening of lending standards recorded in the entire survey, with a net percentage of –19.3%.
At the same time, they anticipate a further increase in demand, at 19.1%.
In the second quarter, competitive pressure from other banks remained the main factor encouraging the easing of consumer lending policies, with a net percentage of 56%. This was the highest figure across all three market segments covered by the survey.
What This Means for the Market
The NBP survey presents a picture of banks bringing the cycle of easing household lending conditions to an end, while remaining open to financing both SMEs and large enterprises.
The tightening of mortgage and consumer lending standards at a time of rising demand is likely to result in stronger customer selection rather than a reduction in lending activity itself.
Banks are not signalling declining interest in these market segments. Instead, they are indicating that borrowers will have to meet more demanding requirements.
For the SME sector, the key issue is the divergence between banks’ declared willingness to continue easing their lending policies and their forecast of declining demand.
This suggests that weak investment demand among small businesses, rather than limited access to financing, may become the main factor constraining lending growth in this segment in the coming months.
The common theme across the entire survey is competitive pressure between banks, which was identified as the main driver behind the easing of lending terms in all three analysed market segments.
Source: National Bank of Poland, Financial Stability Department, Situation in the Credit Market: Results of the Survey of Credit Committee Chairs, Q3 2026. The survey was conducted in early July 2026 among 23 banks. Original analysis based on NBP data.
