[REVISION HISTORY]

Poland credit market trends and rising bankruptcies

Updated 3 times since CLSTR started tracking revisions of this situation.

What changed

2026-08-10 08:12 UTC → 2026-08-12 10:22 UTC · added ~~removed~~

In late July 2026, consumer credit cards fell in number but limits rose, reflecting a shift toward higher-limit users. A week later, SME credit expanded, with the portfolio up 11.5% in 2025 and micro-enterprise loans increasing 7.4% in number and 16.4% in value in the first half of 2026; investment loan size grew despite fewer deals, and credit quality stayed stable. New data from August 2026 show that consumer distress is deepening: 12,200 personal bankruptcies were filed in the first half of the year, the highest half-year total on record, causing creditor losses of about 297 million zł. The surge follows lingering effects of the 2022-2024 inflation shock, high interest rates, and depleted savings, even though inflation fell to 3% in July and wages rose 8.2% in January. Economist Anna Zabrodzka-Averianov of Intrum Poland notes that while inflation fell, many families have not recovered financially, with debt pressures intensified by global energy market turbulence linked to the conflict in Iran. Alongside consumer distress, the small business sector faces significant pressure. In the first half of 2026, closures of sole proprietorships (JDG) rose by 8.4% year-on-year to approximately 108,100, while business suspensions increased by 6.7% to 191,400. New business ~~applications also fell~~ registrations saw a significant decline of approximately 9.2% year-over-year. Corporate bankruptcies rose to 94 in the second quarter, driven by ~~over 5% compared~~ the service, construction, and transport sectors. In the HoReCa sector, hotel debt decreased, but restaurant debt increased by 24.4 million PLN to ~~2025.~~ nearly 902 million PLN. Experts cite rising social security contributions, increased labor costs, and economic uncertainty as primary drivers. Despite these headwinds, the SME credit segment shows modest growth. Micro-firms continue to rely heavily on internal funds, with only about 17% using credit—one of the lowest rates in the EU. Nevertheless, total SME credit rose 11.5% in 2025, and investment loans increased 34% year-on-year, with the average loan size continuing to grow while credit quality remains stable.

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