The Credit Information Bureau is an institution that collects and shares data on the credit history of bank customers, credit unions and loan companies. It is the largest collection of this type of information in Poland. ecologicaldebt.org fleshes this out
In the register you will find both individual and entrepreneur profiles. It is worth noting that in BIK we will find data on regularly paid liabilities and entries regarding delays in our payments.
Increase in the number of customers
At the beginning it is worth recalling that all the analyzed data cover the period from January to June 2018. In the case of comparisons, the first 6 months of previous years are taken into account. The continuous development of the non-bank financial market could suggest that the constantly growing number of loan companies is also associated with a greater demand for this type of product. According to the loan data, the BIK Report in June 2018 as many as 15.3 million customers were registered, which is an increase of 0.5% compared to last year. Putting together 80,000 people with over a dozen million, it may seem that these are not significant differences. However, looking at the division into banking and non-banking sectors, the perspective changes slightly.
When we consider only the clients of loan companies, it turns out that as many as 122 thousand. more customers than last year . This gives us as much as 29.3% – such numbers are already impressive, especially if we consider that only 12 months have passed since the previous summary. Some may explain this with a larger amount of debt in the banking sector, making lenders the last resort. However, the data deny this, because the number of consumers who have no other obligation on their account than the loan in the non-banking sector increased by as much as 41% compared to 2017. These numbers leave no illusions that the development of technology and the introduction of the application process on websites definitely works against loans.
Loans increasingly popular – reasons
One of the reasons for the increase in popularity of non-bank loans may be allowing clients to incur liabilities at much lower amounts than in the case of loans. This can be evidenced by the fact that the total amount of liabilities in the loan sector is PLN 4,308.9 million, which is a sum lower by over 10,400 million than the value of loans . At the same time, the number of borrowers is higher by over 100,000. compared to bank customers. The total debt in both sectors amounts to PLN 608 billion.
Another reason may also be the high acceptance of applications in loan companies. Some non-banking customers also have debt in banks, which prevents them from incurring another liability there. The next data contained in the BIK Report analyzed below provide proof of this.
Loans and credits at the same time
It’s no secret that some borrowers apply for loans to repay their liabilities to banks. On the other hand, others who have a loan are unable to cover unplanned expenses from their income, as part of them must be allocated to cover the bank installment. How do the statistics present this phenomenon? At the end of the first half of 2018 , customers servicing simultaneously non-bank loans and loans accounted for 23.4% of the total number of borrowers. In addition, it can be seen that lenders increased to 77.4 thousand customers compared to the end of December 2017.
According to the BIK report, as many as half of 131,000 people with only liabilities to loan companies are young people under the age of 35 . This may be a consequence of making applications available on the Internet and cooperation with BIK, which increases trust in non-bank institutions.