Ukrainians take massive loans for housing and homes in Poland

Ukrainian migrants in Poland tend to actively usage payment cards and banking applications, they systematically save their funds and, erstwhile deciding to borrow, like those related to real estate, informs “leg artis”, citing the data of the Credit Information Office (BIK). The paper notes that after the conflict in Ukraine intensified and the mass influx of immigrants from outside the east border, the bankers wondered how Ukrainians would benefit from banking services in Poland.

They considered 2 possible scenarios. The first was to limit the usage of accounts only to regular transactions, while the second script predicted the gradual borrowing of loans, which could indicate the intention to stay in Poland for longer.

Creditors to Polish banks

After about a year and a half since the wave of migrants reached Polish financial institutions, it is observed that most of them have decided on the first scenario, although the debt is gradually increasing. Data indicate that from January to October this year the banks granted PLN 2.621 billion to Ukrainians. In the same period in 2022 the value of loans granted was PLN 2.429 billion. The full balance of Ukrainian debt at the end of October is PLN 7,942 billion, according to the Credit Information Office (BIK).

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The structure of Ukrainian debt in Poland in the debt portfolio remains unchanged compared to the erstwhile year. Mortgages account for 75% of this debt, cash loans 19%, and instalment loans and cards only 2%. "It is worth noting that their debt accounts for only 0.5% of the full Polish bank's credit portfolio," adds "PB". It is besides worth comparing that Ukrainians' participation in the pool of individual accounts is over 4%.

Ignacy Michałowski

OSINT investigator with experience in global journalism projects. It has been publishing materials for over 20 years for the largest releases. In social activities he engaged in various projects and initiatives aimed at improving the quality of life of people, especially those of mediocre communities. He was besides active in the fight for human rights. Contact: [email protected]