Consumer Finance

In 2023, Germany’s consumer credit market showed signs of cautious optimism. Despite the lingering effects of the pandemic and geopolitical tensions, such as the ongoing crisis in Ukraine, there was a modest rise in consumer lending. However, German…

In 2023, gross lending in the primary category of other personal lending is experiencing a slowdown in growth due to inflation and reduced disposable incomes. Rising prices, coupled with stagnant salaries, have instilled a sense of insecurity in…

Since the reopening of borders in the fourth quarter of 2022, there has been a significant increase in the desire of Hong Kong residents to travel abroad, following three years of pandemic-induced restrictions. Throughout 2023, there has been a…

As inflation continues to rise, an increasing number of households find themselves in a financially precarious situation at the end of the month or salary payment periods. The impact of inflation bites into monthly budgets, leading to higher expenses…

In 2023, card lending - driven by increasing credit card adoption in India - remained the dominant category within consumer credit in gross lending terms. The adoption of credit cards further increased during the year, primarily as consumers’…

Consumer credit gross lending has experienced further strong growth in 2023, along similar lines to the previous year. The main factor behind this growth has been the improvement in economic conditions as a result of increased community mobility…

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…

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…

Japan currently does not have any law restrictions surrounding Buy Now Pay Later (BNPL) and thus the benefits, such as convenience, flexibility, and especially no credit checks, are gradually being understood by a wider consumer base. These benefits…

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 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…

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…

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…

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%…

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…

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 lending in Portugal maintains its positive growth trend in 2023. Demand for loans both for last-minute expenses and for current expenses is rising as consumers lose purchasing power and as savings stashed during the pandemic diminish. In…

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…

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…

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…