Interesting data on the non-bank loan market has been published by Biuro Informacji Kredytowej (BIK). According to the latest report for the month of April of this year, companies awarded a total of 271.5 thousand. New loans (30.7% more than the previous year) amounting to PLN 687 million (an increase of 41% year on year). The first quarter of 2022 is doing well in this regard – From January to March He earned 808.2 thousand. Loans (+33% YoY) in the amount of PLN 2.01 billion (+48.6% YoY). If the industry maintains its pace of growth, it will regain its former glory. Where did it come from?
water for the mill
– You should remember, first of all, that BIK data in the loan market takes into account the activities of companies operating in the BNPL market (“Buy now, pay later”, that is, deferred payments – editor’s note). The turnover of these companies is growing dynamically – notes Zbyszko Pawlak, president of Everest Finanse, holder of the Stork loan.
Deferred payments is like buying on the so-called dash – this way you can pay mainly in online stores (the latest Twisto data shows that deferred payments are offered by 73% of Polish online stores) and more and more in stationary stores too. According to our interlocutors, it has a dominant position in the deferred payments sector, classified as loans Allegro Bay (its services may be used by Allegrowicze) i He, among other things for this company, owes the loan industry in large part to the leaps that have occurred since the beginning of this year. In addition, they are also offered on the Polish market by third parties PayPo and Klarna, which are just getting started.
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A good start to the year also because of the low base.
– I would like to emphasize that we compare this growth to last year, when the industry was leaving the covid regulations system (one of the anti-crisis shields was temporarily closed by revenue, they want to protect the Poles from spiral-ed debt.), which affected supply and profitability and made it difficult Obtaining financing for a loan campaign – adds Zbyszko Pawlak.
Old new problems
Typical loan companies, that is, those that give out cash loans, have been struggling with the problem of access to capital for a long time, Since the outbreak of the GetBack scandal, which has cast a shadow over the entire capital market and severely curtailed investor confidence in the financial sector. For example, Stork, one of the largest fixed-rate lenders, uses bonds to get half of what in 2019 – then it was about PLN 180 million.
It is difficult to work in conditions of legal instability. The effect is that from year to year The loan sector is recording increasing losses (No financial data for the last year yet, but In 2020, the industry was under a thick line, amounting to about 360 million PLN – Ed’s note). More entities are disappearing from the market – according to our observations Just over 100 companies are active in it Among the more than 500 entered into the register kept by the Polish Financial Supervisory Authority – Zbyszko Pawlak notes in an interview with money.pl.
Sword of Damocles
The problems do not end there. For rulers, the loan industry has become a flogging boy. For several years, the indefatigable Ministry of Justice has been trying to clamp down on the industry. According to our next interlocutor, in this way it isolates a part of society from money to meet current needs.
In conditions of legal uncertainty, it is difficult to obtain financing for a loan campaign. However, this is not a hindrance that prevents activity. Loan companies have halted their investments due to the uncertainty tomorrow, But we have not yet noticed an increase in the exodus of companies from the market – reassures Marcin Kjoujan, president of the Federation of Corporate Finance (ZPF).
He notes that lending companies make a profit if customers pay off their debt, and in this respect they are better than they were before the pandemic.
One swallow does not make a spring. Behind the scenes you say that Companies gave up capital at the beginning of the year to get fat before cutting legal limits on non-interest costs, which (aside from interest) are a source of income And now they will have problems with the display.
– It is possible that some companies used their entire capital reserve to carry out a loan procedure at the beginning of the year – confirms Zbyszko Pawlak.
Marcin as a married couple have doubts.
– Changes in the law have been discussed since the third quarter of last year. If it had a real impact on market growth, it would have grown already last year, and not only this year – the expert justifies.
Loans are losing popularity
Is high inflation driving the demand for cash loans? Here we asked Provident, a market leader that specializes in customer service in a door-to-door delivery model.
– Our notes show it Demand for loans in the past few months It was receding due to increasing uncertainty Poles for the future Answers Marcin Żuchowski, Credit Risk Manager and Provident Board Member.
It adds Now customers are more likely to take out loans to meet current needs, and not for so-called ambition goals, i.e. renewal. According to him, this increases credit risk, which, along with high regulatory risks and high operating costs, negatively affects supply.
The head of ZFP has other comments. According to him, the number of loan applications is increasing, but it is difficult for him to say unequivocally whether this is due to inflation.
We do not ask our clients about it when applying for financing. They themselves do not refer to macroeconomic factors as a reason for obtaining a loan – Marcin Czugan details.
blowing in the cold
Not all loan companies cooperate with BIK, but most do – especially the big ones. The customer cannot be forced to inform the bank of his financial position to the lender. Despite the fact that loan companies are getting better at collecting approvals for reporting, there is a new trend emerging in the market: clients withdraw previously provided approvals and do so for a variety of reasons. The most common: they are afraid that they will not get a bank loan because they use the services of loan companies.
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