In March 2024, compared to March 2023, banks granted fewer loans to microenterprises, with a 4.5% decrease in number and a 3.3% decrease in value. The reduction in loan numbers was evident across revolving credits (-6.0%), current account credits (-9.3%), and investment credits (-37.4%). However, in terms of value, only investment credits saw a positive annual dynamic, increasing by 9.3%. There was a decline in the value of current account credits (-17.7%) and revolving credits (-4.6%).
In the first quarter of 2024, compared to the same period last year, banks issued more loans to microenterprises, up by 2.0% in number and 2.3% in value. Positive dynamics during this period were only seen in revolving credits, both in terms of number (+2.4%) and value (+2.1%). However, there was a decline in the number of both investment and current account credits issued, though investment credits experienced a 4.4% rise in value. Current account credits, on the other hand, saw a negative value dynamic (-7.1%).
Credit Quality Indices for Microenterprises by Loan Products
The March 2024 BIK Credit Quality Index for microenterprises was 5.46% in terms of value, indicating a relatively safe and acceptable level. The product-specific Quality Indices in March 2024 were as follows: investment credits at 3.93%, current account credits at 4.35%, and revolving credits at 8.42%.
From February to March 2024, the overall Quality Index deteriorated (increased) by +0.30. Over a 12-month period, compared to March 2023, the overall Index improved (decreased) by -0.90. The most significant improvement over the 12-month period was in revolving credits (-2.80), followed by current account credits (-0.71). However, the investment credit Index worsened (increased) by +0.89.
Credit Sales for Microenterprises by Industry
Out of 13,800 loans granted to microenterprises in March 2024, service companies took 6,700 loans (48.6%), and trade companies took 3,100 loans (22.7%), totaling 71.2% of all credits issued that month. Of the total amount of 2.128 billion PLN, banks provided 820 million PLN (38.5%) to service industry microenterprises and 522 million PLN (24.5%) to trade companies. Financing for these two sectors in March 2024 accounted for 63% of the total value of credits issued to microenterprises. The year-over-year positive dynamics in March 2024 for the number of credits issued was in financing services (+0.5%).
In terms of value, the highest positive dynamics in March 2024 compared to March 2023 was in credits for service companies (+7.7%). Smaller increases were recorded in credits issued to manufacturing companies (+3.4%). However, the value of credits granted to trade companies decreased by 15.0% and to construction companies by 10.6%.
Credit Quality Indices for Microenterprises by Industry
According to the Quality Index readings, construction companies had the worst (highest) repayment rate in March 2024, with an Index value of 6.07%. The best (lowest) reading was recorded in the trade sector, with an Index value of 5.14%.
Compared to March 2023, the Quality Index improved (decreased) in three industries, most notably in trade (-1.75) and services (-0.92). It deteriorated (increased) in the construction sector (+0.70).
