Times are hard. Loans only for the chosen ones
“The deterioration of the macroeconomic outlook and the increase in interest rates significantly limited the activity on the credit market in the third quarter of 2022. Banks tightened the standards of granting all types of loans and recorded a decline in demand in most segments of the loan market, with the exception of short-term loans to large enterprises” – we read in the NBP report published on Monday.
Unfortunately, the future is not bright either. For the last three months of this year, the banks have announced further tightening of their lending policies to enterprises and households.
Experts interviewed by Rzeczpospolita indicate that only a few will have a chance for a loan in the coming months. It will be necessary to pass through a very dense sieve, because banks cannot afford to grant loans for which the risk of default will be high.
– In this context, the costs of living for Poles are also important. And these, unfortunately, grow significantly along with galloping inflation, faster than wages. Banks cannot ignore this aspect, hence the tightening of policy, Jarosław Sadowski from Expander Advisors tells Rzeczpospolita. – In addition, one must also take into account the risk that some loans will not be repaid, which increases with the deteriorating economic situation.
#Times #hard #Loans #chosen