Consumer Finance

2022 and 2023 saw some of the most rapid increases in lending interest rates in US history. During the pandemic, many interest rates approached record lows, leading consumers to refinance debt, and leading to a generally free lending environment. In…

Numerous consumers have increased their reliance on credit to enable them to afford higher retail prices in 2023, as the UK economy has continued to be impacted by high inflation and the rising cost of living. As a result, card lending is set to…

Towards the end of the review period consumer loans has shown continuous current value growth. In 2023, current value growth is being driven by credit cards and various personal lending options, particularly salary-based general purpose loans.…

Lending institutions in the Netherlands are adapting their lending norms to accommodate inflation and the increasing cost of living. These updated lending norms predominantly affect consumer credit. By incorporating rising prices into their…

The cost of living crisis remains a pressing issue for Czech consumers in 2023, with higher energy and grocery bills squeezing disposable incomes. People are still struggling to pay their bills and are therefore taking out loans or buying on credit…

Thailand’s economic performance in 2023 is improving as the pandemic effects subside and private consumption rebounds. Other positive factors include the surge in Thai and foreign travellers, as well as improvements in the service sector, which is…

The government's relaxation of control measures on digital banks has paved the way for a broadened range of financial services offered by pure digital banks. Although the impact on traditional banks and digital wallet operators remains relatively…

Consumer credit suffered during the first year of the COVID-19 pandemic, when economic uncertainty saw the postponement of larger purchases. While gross lending surpassed pre-pandemic levels in 2022, consumers remained cautious, amid much uncertainty…

Following the pandemic, card lending, contributing to over 60% of consumer credit gross lending in Singapore, has witnessed significant growth, largely propelled by the enduring trend of revenge travel. The resumption of travel and tourism activities…

Other personal lending continues to be an area of interest in Saudi Arabia, as this category primarily constitutes personal loans taken for medical purposes and travelling. This has been particularly prominent since the end of pandemic restrictions…

Consumer lending in 2023 is experiencing a slowdown due to the rapid rise in interest rates and the prevailing economic uncertainty. There is a notable increase in interest in quick loans from non-banking institutions and card lending. The surge in…

In the face of economic slowdown, there has been a clear decline in private consumption in Poland. Banks have tightened lending criteria for all types of loans to protect their business revenues. At the start of 2023, the criteria for granting…

Consumer credit has continued to witness robust growth in 2023, albeit at a moderated pace compared to the preceding two years. This growth encompasses both outstanding balances and gross lending, having already rebounded to pre-pandemic levels in…

Consumer credit is enjoying a more prosperous year in 2023 than was expected, as the Norwegian economy remains resilient in the face of high inflation. The rate of inflation has reduced slightly in 2023, but it is still much higher than the 2%…

A new government inherited a sluggish economy, record debt and shrinking oil output, due to creaking infrastructure. On foot of this, the government has implemented some difficult decisions in order to stabilise the economy, including ending a…

Morocco’s latest unemployment data exhibits a rise to almost 13% in the first three months of 2023, from just over 12% over the same period last year, as the farming sector shrunk due to the worst drought in decades, directly affecting the sector’s…

Consumer credit is set to show continued consistent robust growth in gross lending in 2023, driven by improving employment and business performance, and wages that continue to recover in the wake of the pandemic. However, growth will encounter…

In 2021 and 2022, many local consumers used personal loans when faced with unplanned expenses or a personal financial emergency. Malaysian banks were very active in offering personal loans to individuals, providing flexible repayments and offering…

Consumer credit registered positive, albeit modest growth in terms of gross lending and outstanding balance values in Italy in 2023, as ongoing economic uncertainty led many consumers to retain a conservative approach towards borrowing. While the…

In 2023, the growth of consumer lending in Israel experienced a notable slowdown, continuing a trend observed over recent years. The outstanding balance in card lending saw a decline, significantly influenced by rising inflation and the increasing…