Narodowy Bank Polski

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Banks’ Lending Policy Tightened Further

Date: 16-05-2012

NBP Report: The banks set higher requirements for borrowers and intend to continue the tightening of lending policy although they expect demand for loans to fall further.

Information on the subsequent quarterly “Senior Loan Officer Opinion Survey on Bank Lending Practices and Credit Conditions” was released by the National Bank of Poland on 16 May. The survey discusses developments in the credit market in the first quarter of 2012 and expectations of changes in banks’ lending policy and loan demand in the second quarter of the year. Responses to the survey questions were provided by 29 banks with a share of 83% in the credit market, and compiled at the turn of March and April.

The banks have been asked in the NBP survey whether and to what extent they have revised the standards (defined as the minimum standards of creditworthiness) of granting loans and the terms on which money is lent (including the spreads charged on the loans).

The latest survey shows that in the first quarter of 2012 the banks tightened lending policy in all borrower groups, and the tightening was strongest in the segment of housing loans and long-term loans to large companies. The tightening was accompanied by increases in spreads, in particular on housing loans. In parallel, the banks were hit by falling demand for loans, especially in the segment of loans to households. Demand assessments were very discrepant as about one fourth of all the survey participating banks reported an increase in demand for housing and consumer loans.

The banks expect loan demand from the majority of their clients to continue to soften in the second quarter of the year, except for short-term loans to small and medium-sized enterprises. Nonetheless, the banks are planning to continue to tighten their lending policies in all credit market segments.

See the full version of ”Senior Loan Officer Opinion Survey on Bank lending Practices and Credit Conditions, 2nd quarter of 2012”.

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