As at August 30, the banking sector reported to the database of the Credit Information Bureau (BIK) 876,000 accounts with credit holidays worth PLN 228 billion, BIK reported. The suspension of repayment of installments concerns 44.5% of PLN 1.97 million housing loans and constitutes 58% of their value to be repaid. On average, vacationers have a very high BIK scoring at the level of 83.4 points out of 100.
The scale of the “loan holidays” reported by BIK confirms not only the operational efficiency of the banking sector, but also the fact that borrowers take the repayment of a housing loan seriously. A loan for an apartment is treated as a priority, it is repaid first before other obligations – this is confirmed by the opinion poll commissioned by BIK entitled “Credit obligations of Poles”.
Nearly half (47%) of the respondents admitted that in the event of financial problems, they would first delay the repayment of other loans they had, and only eventually the repayment of the mortgage loan installments.
“The quality of the entire household loan portfolio, despite the unstable economic and economic situation, remains at a good, safe level. This is confirmed by the analysis of the NPL ratio, i.e. the share of the value of loans delayed over 90 days in relation to the value of all active loans. Well, the NPL ratio. at the end of August this year for all active loans it amounted to 5.1%, and for NPL housing loans it was at 2.9%. The quality of housing loans will therefore be hibernated by the end of 2023. The challenge will be 2024, especially when interest rates do not fall significantly and the economic situation deteriorates,” said Waldemar Rogowski, chief analyst of BIK.
As at August 30, 2022, banks reported to BIK that 1.5 million people took credit holidays, i.e. 44% of the 3.4 million entitled persons. This “privilege” was much more eagerly used by borrowers with high creditworthiness, who had an average score of 83.4 points on the BIK point scale (from 1-100). Only 0.1% of the value of loans for which customers have taken credit holidays have delays in repayment of more than 90 days, while for other housing loans in PLN this ratio is 5.5%, it emphasized.
According to BIK data, people whose installments of housing loans grew the most took advantage of the loan holidays. This is especially hard for people who took out housing loans in PLN within the last four years.
For loans taken in 2018-2019, the share of credit holidays is 52.5%, and for loans from 2021-2022 it is 53.7%. In contrast to the loans from 2008-2010, where the interest in “vacation” is 10%.
Opinion survey commissioned by BIK entitled “Credit obligations of Poles” was fulfilled by Quality Watch, on the 18+ group, N-1059, on July 18, 2022.
Source: BIk and ISBnews
