Record Increase in Non-Bank Loans in July 2024

• PLN 1.883 billion – Record value of non-bank loans in July 2024
• Increase by 74.9% – Dynamics of the non-bank loan market in 2024
• Cash loans dominate: 71% of market value

In July 2024, loan companies granted a total of 1,216 thousand new loans worth PLN 1.883 billion. They granted 7.9% fewer loans, but their value increased by 31.9% year on year. In the first seven months of 2024, loan companies granted loans totaling PLN 12.05 billion, representing an increase of 74.9% compared to the same period in 2023.

The value of cash loans granted was PLN 8.236 billion (+60.4% y/y), purpose loans PLN 3.411 billion (+126.9% y/y), and credit cards and loan limits PLN 0.402 billion (+60.9% y/y). The July sales value of non-bank loans (PLN 1.883 billion) was the highest in history. Cash loans, which were granted in July for the amount of PLN 1.336 billion (also a record), accounted for the largest part of this sales, representing an increase of 49.1% y/y. The value of purpose loans newly granted in July increased by 6.4% y/y, while the amount of granted cards and loan limits decreased by 30.5%.

In July, in the structure of non-bank loan sales in numerical terms, purpose loans accounted for 58.3%, cash loans 41.0%, and credit cards and loan limits 0.7%. In terms of value, 27.2% were purpose loans, 71.0% were cash loans, and 1.8% were credit cards and loan limits. The different numerical and value structure indicates the main feature of the Polish non-bank loan market. Purpose loans are granted for lower amounts, while cash loans for higher ones, like in the case of installment loans and cash loans.

The average value of a cash loan granted in July 2024 was PLN 2,684 and was 17.9% higher than the average amount granted in July 2023. Meanwhile, the average value of a newly granted purpose loan in July 2024 was PLN 724 and was 37.1% higher than the average value of such a loan granted a year earlier.