In April 2024, loan companies issued a total of 1,196 thousand new loans worth PLN 1.775 billion. This represents a 267.2% increase in the number of loans and a 124.5% increase in the amount compared to April 2023.
From January to April 2024, loan companies issued obligations totaling PLN 6.59 billion, which is a 113.4% increase compared to the same period in 2023. The value of cash loans granted was PLN 4.43 billion (+72.4% year-on-year), targeted loans were PLN 1.89 billion (+369.6% year-on-year), and loan cards and limits were PLN 0.27 billion (+130.9% year-on-year).
The value of non-bank loan sales in April (PLN 1.775 billion) was the highest in history. The largest portion of these sales was cash loans, which amounted to PLN 1.19 billion (also a record high) in April. The most significant growth in cash loan sales occurred among high-value obligations (over PLN 5,000), with a year-on-year increase exceeding 96%.
The growth rates for targeted loans and loan cards and limits are even higher, but in April of last year, loan companies had not yet provided full information on these products to BIK, so the reference point is understated in this case.
In terms of the number of non-bank loans sold in April, 60.6% were targeted loans, 38.0% were cash loans, and 1.4% were loan cards and limits. In terms of value, 29.0% were targeted loans, 67.0% were cash loans, and 4.0% were loan cards and limits.
The different numerical and value structures highlight a key feature of the Polish non-bank loan market. Targeted loans are granted for lower amounts, while cash loans are for higher amounts, similar to installment loans and cash loans in the banking sector.
The average value of a cash loan issued in April 2024 was PLN 2,615, which was 13.2% higher than the average amount granted in April 2023. Meanwhile, the average value of a newly issued targeted loan in April 2024 was PLN 712, which was 78.1% lower than the average value of such a loan granted a year earlier.
