Poland's banking sentiment indicator Pengab up by 2.7 pts m/m to 26 pts in May
Poland's banking sentiment indicator Pengab has risen by 2.7 points month on month to 26 points in May, a report from the Polish banking lobby ZBP and business consultancy firm Mind & Roses showed. According to experts, seasonal economic climate favours credit demand.
The forecasting index increased by 4.0 points month on month to 32.7, with the rating index rising by 10.4 points month on month to 29.2.
"In May, as in the previous month, a strong month-on-month seasonal growth in both consumer and business lending activity was observed.
"There was a marked improvement in the reading of the six-month forecasts for the investment market," said Marcin Idzik of Minds&Roses, quoted in the report.
"Housing loans and consumer credit and working capital loans saw positive changes. The forecast index for household loans has reached 58 points in May, up 6 points on the previous month, while the rating index for this segment is 21 points higher in monthly terms at 48 points," he added.
The outlook index for business loans recorded 33 points in May, an increase of 4 points from the previous month. The ratings index recorded 26 points, up 4 points on the previous month.
It was reported that in May there was a month-on-month improvement in the six-month forecast reading for investment loans, a deterioration for corporate term deposits.
The forecast for the economic situation of businesses is 33 points, up 19 points month on month and up 13 points year on year. The forecast for the economic situation of households is 25 points, up 11 points month on month and 11 points higher year on year.
The forecast for the economic situation of the country's economy is 29 points, a month on month increase of 15 points and a year on year increase of 3 points.
The bank branch survey was conducted between May 7 and 20.
mbi/ han/ ao/