The value of bank loans and non-bank financing granted to consumers in the first half of 2026 reached PLN 183.2 billion. This was almost one-third more than in the corresponding period of the previous year, according to a market review prepared by Poland’s Credit Information Bureau, or BIK.
Sales increased across all major segments, although mortgage lending grew by far the fastest.
Between January and the end of June, banks granted PLN 74 billion in housing loans, representing an increase of 59.7% year on year. Strong growth was also recorded in cash loans, instalment loans and financing offered by non-bank lenders.
The expansion of the market was supported by falling interest rates, rising wages and the continued strength of the labour market. Improving household creditworthiness allowed consumers to take on larger commitments, particularly when purchasing property.
At the same time, young customers, foreign nationals and consumers beginning to build their credit histories through instalment purchases and deferred payments are becoming increasingly important to financial institutions. Around 50,000 people enter Poland’s credit market for the first time every month.
More Than PLN 183 Billion in Financing Granted Within Six Months
The total value of bank credit and non-bank loans granted in the first half of 2026 amounted to PLN 183.2 billion. Compared with the first six months of 2025, this represented an increase of almost one-third.
Housing loans remained the largest segment of the market. Banks granted mortgages worth PLN 74 billion, 59.7% more than a year earlier. The number of mortgage agreements also increased, rising by 48% year on year.
Cash loans were the second-largest segment by value. Sales reached PLN 67.5 billion, an increase of 15.9% compared with the previous year.
Banks also granted PLN 13.2 billion in instalment loans, approximately 15% more than in the first half of 2025.
Non-bank lenders also expanded rapidly. The value of new cash loans reached PLN 10.4 billion, rising by 16% year on year. Sales of non-bank instalment loans increased by 20.4% to PLN 4.1 billion.
The strongest growth in the non-bank sector was recorded in loan-based credit cards and revolving credit facilities. The value of financing in this segment increased by as much as 110.9% year on year, reaching approximately PLN 900 million.
Deferred payments, commonly known as buy now, pay later, or BNPL, formed a separate category. The value of BNPL transactions completed during the first half of the year reached PLN 8.6 billion, 36.6% more than a year earlier.
Around 50,000 New Customers Enter the Credit Market Every Month
The growth in credit and loan sales is not only the result of existing customers taking on larger commitments. A steady influx of first-time borrowers is also an important source of market expansion.
Over the past two and a half years, the total outstanding portfolio of consumer loans and credit increased from approximately PLN 727 billion to PLN 825 billion. This represents growth of almost PLN 100 billion.
Around 50,000 people begin building their credit histories every month. Their first financial product is increasingly not a traditional cash loan but financing connected with a purchase.
Instalment loans accounted for 34.9% of new customers in the first half of 2026. A further 20.3% entered the financing market through deferred payments, while 13.5% began with a cash loan.
Together, these three categories attracted more than two-thirds of all consumers entering the credit market for the first time.
New customers are predominantly young. People under the age of 24 accounted for 42.2% of first-time borrowers, while customers aged between 25 and 34 represented another 25.2%.
This means that more than two-thirds of new credit market participants were no older than 34.
According to BIK chief analyst Waldemar Rogowski, the modern consumer’s path towards more advanced financial products increasingly begins with an instalment purchase or a deferred payment. Only later do customers turn to cash loans, credit cards or mortgage financing.
Mortgages Were the Fastest-Growing Financing Segment
Housing loans were by far the fastest-growing segment of Poland’s consumer finance market in the first half of 2026.
Banks granted mortgages worth PLN 74 billion, representing an increase of 59.7% year on year.
In terms of the number of agreements, sales rose by 48%. The difference between value growth and volume growth shows that customers were also borrowing increasingly large amounts.
The average value of a new mortgage reached a record PLN 484,000. At the same time, the average repayment period remained at approximately 23 years.
This means that the increase in average financing values was not caused by a widespread extension of loan terms. It primarily reflected improved customer creditworthiness and high property prices.
Lower interest rates and rising wages contributed to stronger mortgage demand. Falling borrowing costs reduced projected monthly repayments, while household income growth increased the maximum financing available to some customers.
It is also significant for banks that the increase in mortgage values was not achieved through excessive extensions of repayment periods. This limits some of the risk associated with granting exceptionally long-term commitments.
Borrowers Are Increasingly Moving Their Mortgages Between Banks
Falling interest rates affected more than just new home purchases and mortgage lending. They also triggered a refinancing process involving loans taken out when interest rates were higher.
Between January and May 2026, refinancing accounted for approximately 32% of housing loan sales.
This means that almost one in every three zlotys reported as new mortgage lending may have been associated with transferring an existing commitment to another bank.
For customers, refinancing can reduce the overall cost of a mortgage, lower the monthly repayment or improve contractual terms.
From the perspective of the financial sector, however, it means that some of the strong growth in reported sales was not directly connected with new property purchases. Instead, it resulted from existing commitments moving between institutions.
Borrowers are also making mortgage overpayments more actively.
In the first half of 2026, the value of mortgage overpayments and full early repayments reached a record PLN 35.4 billion.
This was equivalent to almost half the value of new mortgages granted during the same period.
The figures may indicate that some households are using rising incomes and lower financing costs to reduce their debt more quickly.
Cash Loans Are Becoming Larger
The value of cash loans granted during the first half of the year reached PLN 67.5 billion. This was 15.9% more than a year earlier.
Sales of high-value commitments increased particularly rapidly. In the case of loans exceeding PLN 100,000, the value of new financing rose by 39.2% year on year.
In June, the average value of a new cash loan was PLN 27,800. However, an increasing proportion of customers opted for commitments exceeding PLN 50,000.
The rise in loan values was made possible by a combination of falling interest rates, real wage growth and the ability to spread repayments over a longer period.
All these factors influence the monthly instalment and the customer’s borrowing capacity.
Debt consolidation also plays a major role in this segment. Loans intended to repay or combine existing debts now account for 57% of the value of cash loan sales.
Consolidation can allow a customer to replace several repayments with a single instalment, often spread over a longer period. In many cases, the arrangement also includes additional cash, increasing the value of the new agreement.
According to Sławomir Nosal, head of BIK’s Business Intelligence Analysis Team, rising incomes, lower interest rates and longer financing periods allow customers to borrow larger amounts.
At the same time, these factors encourage borrowers to consolidate their commitments, either with their existing bank or with a competing institution.
Record Sales for Non-Bank Lenders
The scale of activity among non-bank lenders also continued to increase.
The value of active non-bank loans still being repaid at the end of the first half of the year reached a historic high of PLN 13.9 billion.
At the end of 2023, the entire portfolio was worth approximately PLN 7 billion. Its value has therefore almost doubled within two and a half years.
During the first six months of 2026, non-bank lenders granted new loans worth PLN 15.5 billion. These figures do not include transactions completed through deferred payment services.
Compared with the corresponding period of the previous year, sales increased by 22.9%.
Cash loans represented the largest part of the market, with PLN 10.4 billion granted. The value of instalment loans amounted to PLN 4.1 billion.
Within the active portfolio, approximately PLN 9.1 billion consisted of cash loans, while PLN 3.6 billion was associated with instalment financing.
Cash loans therefore accounted for almost two-thirds of the market, while instalment loans represented more than one-quarter.
Revolving forms of financing also developed rapidly. Although loan-based credit cards and revolving limits still account for a relatively small part of the market, their sales increased by more than 110% year on year.
This may indicate that consumers are increasingly looking for products that allow them to use an approved credit limit repeatedly without submitting a separate application for every transaction.
Non-Bank Lenders Are Financing Larger Expenses
The value structure of non-bank loans is also changing. The market is no longer expanding only through small commitments used to cover immediate needs.
The highest growth was recorded for loans exceeding PLN 10,000. Sales in this category increased by 34% year on year.
Financing of between PLN 5,000 and PLN 10,000 increased by 23.3%.
Loans worth more than PLN 5,000 now account for almost 57% of the total value of the non-bank lending market.
This suggests that some consumers are using non-bank financing for larger purchases, home renovations, furnishings and other expenses that were previously more commonly financed with bank loans.
Higher average values may increase revenues for lenders, but they also require careful risk management.
Unlike small, short-term loans, larger commitments remain in the portfolio for longer and are more sensitive to any deterioration in the customer’s financial position.
BNPL Has Become a Popular Gateway to the Financial Market
Deferred payments have become one of the most important products used by young customers beginning to build their financial histories.
Around 1.8 million people actively use BNPL services. Since the market began developing, at least one deferred payment transaction has been completed by 3.6 million customers.
Together, they have carried out approximately 226 million transactions.
In the first half of 2026, the value of deferred payment transactions reached PLN 8.6 billion, representing year-on-year growth of 36.6%.
BNPL is still mainly used to finance small, everyday purchases.
The average value of a single transaction is PLN 173, while 53.9% of transactions do not exceed PLN 100.
Most consumers use deferred payments according to the original model, meaning that they repay the amount within a short period without incurring interest charges.
Over the previous 12 months, 75% of transactions were settled within the interest-free period.
The remaining commitments were converted into instalment financing. This mechanism means that BNPL also contributes to the sales statistics of instalment loans and credit.
Some Users Regularly Convert Deferred Payments Into Instalments
The way consumers use BNPL varies considerably.
Around 29% of customers always settle deferred payments within the interest-free period. Another 13% only occasionally convert transactions into instalments, doing so for no more than 10% of their purchases.
Approximately 27% of customers convert between 10% and 50% of their transactions into instalments.
At the same time, 31.5% of BNPL users convert the majority of their deferred payments into instalment commitments.
BIK notes that frequently converting BNPL transactions into instalment financing is associated with higher overall consumer debt.
Customers in this group are also more likely to experience repayment delays.
For the time being, however, deferred payments are not considered a source of systemic risk.
For most users, they are a tool for managing short-term liquidity rather than a way of permanently financing everyday living through debt.
The data also indicate that experienced BNPL users may manage repayments of other financial products better than people who have used deferred payments only once.
Among one-time users, the proportion of customers with delays of more than 90 days on any financial commitment stands at 6.3%.
Among the most active users, the figure falls to 1.9%.
This may suggest that regular and responsible use of deferred payments helps some consumers develop a habit of paying their commitments on time.
At the same time, the data do not eliminate the risks facing people who systematically convert most of their transactions into instalments.
Foreign Nationals Hold More Than PLN 34 Billion in Loans
Foreign nationals living in Poland are becoming an increasingly important group of customers for banks and non-bank lenders.
Since the end of 2022, the value of loans and credit granted to foreign nationals has increased from PLN 15.1 billion to PLN 34.4 billion.
The portfolio associated with this group has therefore more than doubled in less than four years.
Around 364,000 foreign nationals currently use financing in Poland. Younger people living in major cities and metropolitan areas are the most active.
In the first half of 2026, foreign nationals received new credit and loans worth a total of PLN 8.9 billion.
This was 37.8% more than in the corresponding period of the previous year.
Housing loans account for the largest part of their debt, representing 82% of the total portfolio.
Cash loans have a share of 14%, while the remaining 4% consists of instalment loans, credit cards and limits, and non-bank financing.
Foreign nationals represented approximately 3% of all new customers who began building a credit history in Poland during the first half of the year.
Like Polish consumers, they often begin with an instalment loan or a deferred payment service.
Ukrainian citizens remain the largest group, accounting for 56% of the value of the credit and loan portfolio held by foreign nationals.
Belarusian citizens represent 17%, while all other nationalities together account for 27%.
The rising value of mortgages taken out by foreign nationals may demonstrate their increasingly permanent connection with the Polish labour and housing markets.
A mortgage is a long-term commitment that requires stable income, a documented employment position and compliance with the bank’s lending requirements.
Bank Lending Is Growing While Repayment Quality Improves
The rapid growth in bank lending has not yet resulted in a deterioration in repayment performance.
The quality of bank loan portfolios continued to improve during the first half of 2026.
The proportion of housing loans overdue by more than 90 days fell to 3.4%. The corresponding rate was 7.4% for cash loans and 5.6% for instalment loans.
These figures indicate that households remain in relatively good financial condition despite the increase in total debt.
They are being supported by rising wages, low unemployment and lower servicing costs for some financial commitments.
The improvement may also reflect the cautious lending policies of banks and more accurate assessments of customers’ borrowing capacity.
Financial institutions have access to a growing amount of data that allows them to evaluate repayment histories and the current financial obligations of potential borrowers.
The situation in the non-bank sector is more varied.
For cash loans granted by non-bank institutions, the share of commitments overdue by more than 90 days increased to 19.1%.
For non-bank instalment loans, the rate stood at 6.4%.
The growing number of overdue commitments in part of the non-bank market will require close monitoring, particularly as sales of higher-value financing continue to increase rapidly.
BIK Expects Strong Market Conditions to Continue in the Second Half of 2026
The Credit Information Bureau expects favourable conditions in the credit and loan market to continue during the second half of 2026.
Growth is expected to be supported by rising wages, low unemployment, stabilising housing prices and the possibility of another interest rate cut in the fourth quarter.
A further reduction in borrowing costs could improve household creditworthiness and maintain demand for housing loans.
It could also encourage more customers to refinance commitments taken out when interest rates were higher.
The geopolitical situation remains a risk factor. Any deterioration could affect consumer confidence, willingness to take on long-term commitments and decisions involving major purchases.
For the time being, however, the market’s foundations remain strong.
Sales are growing across all major segments, bank portfolios continue to perform well and the influx of new customers is expanding the population using financial services.
The first half of 2026 also demonstrated a clear change in the structure of the market.
Alongside traditional housing and cash loans, non-bank lenders, deferred payments and revolving products are playing an increasingly important role.
Polish consumers are not only borrowing more. They are also increasingly using several different forms of financing.
The challenge for financial institutions and regulators will be to maintain a balance between further market development and limiting the risk of excessive debt among some consumers.
