In November 2023, compared to November 2022, banks granted more loans (+21.7%) and of a higher value (+32.6%) to micro-entrepreneurs.
Sales of loans to micro-entrepreneurs by credit product
Banks granted more line-of-credit loans (+40.2%) and investment loans (+3.2%), but fewer loans in current accounts (-2.0%). In value terms, growth dynamics were noted for line-of-credit loans (+56.6%) and investment loans (+83.3%). On the other hand, loans in current accounts characterized negative dynamics (-6.6%).
From January to November 2023, compared to the same period last year, banks issued more microloans (+13.3%) and at a higher amount (+12.5%). During this period, less investment loans were issued both in number (-7.3%) and at a lower value (-7.3%). The number and value of line-of-credit loans increased by +21.1% and +20.3% respectively, while for current account loans it was +0.2% and +4.9%.
Quality of the Credit Portfolios for micro-entrepreneurs by credit product
In November 2023, the microloan quality index stood at 5.24% in value terms, which is a relatively safe level. By product, the quality indexes in November 2023 were as follows: investment loans 2.96%, current account loans 3.92%, and line-of-credit loans 9.06%. Compared to October 2023, the general quality index improved (decreased) by -0.41.
However, over a 12-month period i.e., compared to November 2022, the overall index improved (fell) by -0.46. During the same period, the indices of all types of loans also improved (fell): investment loans (-0.82), line-of-credit loans (-0.72) and current account loans (-0.09).
Sales of loans to micro-businesses by sector
Out of the 13.9 thousand loans granted to micro-entrepreneurs in November 2023, 6.8 thousand were taken by service companies (48.7%) and 3.4 thousand by commercial companies (24.3%). Together, these two sectors accounted for 73% of all loans granted in November 2023. Out of the total amount of 1.941 billion PLN, banks granted 761 million PLN (39.2%) to service sector companies and 577 million PLN (29.7%) to micro-entrepreneurs in the trade sector. The financing of these two sectors in November 2023 accounted for 68.9% of the total value of loans granted to micro-entrepreneurs.
In November 2023, the highest year-on-year increase in loans granted was seen in financing trade (+23.5%) and services (+21.8%). In value terms, compared to November 2022, positive dynamics was also recorded for loans to companies in all sectors. The highest dynamics were noted for loans granted to service companies (+36.4%) and commercial companies (+33.1%).
In the first eleven months of 2023, compared to the corresponding period in 2022, a positive growth dynamic in the number of loans was noted for companies in all four sectors. The highest growth rates were observed in the service sector (+14.5%) and the construction sector (+13.2%).
In terms of value, during this period banks granted more credits (+16.6%) to construction companies and more credits (+13.6%) to service companies.
Quality of Credit Portfolios for micro-entrepreneurs by sector
According to the Quality Index readings, the poorest (highest index level) repayment was recorded in November 2023 by manufacturing companies – with a Quality Index of 5.61% and trading companies (5.45%). The best (lowest) Quality Index reading in November 2023 was recorded by construction companies at 4.73%.
Compared to November 2022, the Index worsened (increased) only for manufacturing companies (+0.52). The Index improved (decreased) in the service sector (-0.87) and in construction (-0.61).
