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Country Report

Philippines Flag Consumer Lending in the Philippines

| Pages: 13

Price: US$2,100

About this Report

Executive Summary

Consumer lending registers substantial growth in 2015

Consumer lending in the Philippines continued to record double-digit growth in 2015, even surpassing growth of the previous year. The growth was attributed to the improving economy of the country due to the steady increase in OFW remittances, growing BPO industry and solid performance of the services sector, which heightened consumer spending and investing. More Filipinos, especially from the growing middle class, continued to invest in their first properties and cars due to the wide array of properties and car models made available by developers and retailers.

Local banks continue to run promos that fuel consumer loans

The significant growth in consumer loans along with the tight competition encouraged banks to create various types of promotions to increase their market base. Leading banks offered enhanced product offerings, more flexible payment terms, lower interest rates and exciting giveaways such as free amortization and free insurance to distinguish them from competitors. A number of banks also worked on expediting their loan processing time to avoid prospective clients from backing out or transferring to another lender.

Mortgages/housing loan demand records remarkable surge versus other categories

During 2015, mortgages/housing outstripped consumer credit in terms of growth. Most Filipinos consumers rely on loans when buying a house since it requires a large sum of money, which they cannot fully pay in cash. Real estate developers are anticipating the high demand for properties in the coming years that will result in the establishment of more housing projects within and outside of Metro Manila. Ownership of low-priced homes will likely be driven by first-time homeowners, while acquisition of mid-priced and expensive properties will be driven by OFWs.

Card lending holds largest share of consumer loans

Card lending continued to be the largest contributor to consumer loans in gross lending terms in 2015. Current credit card users increasingly depended on it due to the banks’ attractive and comprehensive reward programs. Moreover, banks’ partnerships with retailers offered flexible payment schemes and low, if not, zero interest rates that consumers took advantage of, especially when purchasing high-priced items such as appliances, furniture and gadgets. Additionally, banks started to offer credit cards that specifically catered to the growing middle class. This is expected to increase credit card ownership and transaction value over the forecast period.

The local industry foresees great opportunity for consumer lending

Consumer lending in the Philippines will continue to grow at a double-digit rate at constant 2015 prices over the forecast period due to the projected improvement of the country’s economy. The increasing disposable incomes of Filipinos will encourage more investments in a number of categories such as durable goods, education, houses, personal transportation and business. The banks’ aggressive attitude towards developing and increasing their loan portfolios to accommodate consumers in different socio economic classes is expected to increase reliance on consumer loans.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Consumer Lending industry in Philippines with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Consumer Lending industry in Philippines, our research will save you time and money while empowering you to make informed, profitable decisions.

The Consumer Lending in Philippines market research report includes:

  • Analysis of key supply-side and demand trends
  • Historic volumes and values
  • Five year forecasts of market trends and market growth  
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Consumer Lending in Philippines?
  • What are the major trends set to impact the market in Philippines?
  • What capacity for consumer debt still exists in the market?
  • What’s the state of credit quality in the market?
  • Has the economic downturn reset the lender competitive landscape?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Consumer Lending in Philippines, originate from our database within our Consumer Finance market share and market size database, Passport, a platform which analyses Consumer Finance in 46 countries and globally.

Table of Contents

Consumer Lending in the Philippines - Industry Overview

Executive Summary

Consumer lending registers substantial growth in 2015

Local banks continue to run promos that fuel consumer loans

Mortgages/housing loan demand records remarkable surge versus other categories

Card lending holds largest share of consumer loans

The local industry foresees great opportunity for consumer lending

Key Trends and Developments

More players offer promos that allow consumers to save or earn money

Demand for mortgages/housing continues in an upward trend

The government pushes for regulations that aim to benefit consumers

Market Data

  • Table 1 Consumer Lending: Outstanding Balance by Category: Value 2010-2015
  • Table 2 Consumer Lending: Outstanding Balance by Category: % Value Growth 2010-2015
  • Table 3 Consumer Lending: Gross Lending by Category: Value 2010-2015
  • Table 4 Consumer Lending: Gross Lending by Category: % Value Growth 2010-2015
  • Table 5 Consumer Lending: Non-performing vs Other Loans Outstanding Balance: % Value 2010-2015
  • Table 6 Mortgages/Housing: Non-performing vs Other Loans Outstanding Balance: % Value 2010-2015
  • Table 7 Consumer Credit: Non-performing vs Other Loans Outstanding Balance: % Value 2010-2015
  • Table 8 Card Lending: Non-performing vs Other Loans Outstanding Balance: % Value 2010-2015
  • Table 9 Forecast Consumer Lending: Outstanding Balance by Category: Value 2015-2020
  • Table 10 Forecast Consumer Lending: Outstanding Balance by Category: % Value Growth 2015-2020
  • Table 11 Forecast Consumer Lending: Gross Lending by Category: Value 2015-2020
  • Table 12 Forecast Consumer Lending: Gross Lending by Category: % Value Growth 2015-2020

Sources

  • Summary 1 Research Sources

Consumer Credit in the Philippines - Category Analysis

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 13 Consumer Credit: Outstanding Balance by Category: Value 2010-2015
  • Table 14 Consumer Credit: Outstanding Balance by Category: % Value Growth 2010-2015
  • Table 15 Consumer Credit: Gross Lending by Category: Value 2010-2015
  • Table 16 Consumer Credit: Gross Lending by Category: % Value Growth 2010-2015
  • Table 17 Forecast Consumer Credit: Outstanding Balance by Category: Value 2015-2020
  • Table 18 Forecast Consumer Credit: Outstanding Balance by Category: % Value Growth 2015-2020
  • Table 19 Forecast Consumer Credit: Gross Lending by Category: Value 2015-2020
  • Table 20 Forecast Consumer Credit: Gross Lending by Category: % Value Growth 2015-2020

Segmentation

This market research report includes the following:

  • Consumer Finance
    • Consumer Lending
      • Consumer Credit
        • Card Lending
        • Auto Lending
        • Durables Lending
        • Education Lending
        • Home Lending
        • Other Personal Lending
      • Mortgages/Housing

Statistics Included

For each category and subcategory you will receive the following data in Excel format:

From Passport

  • Market Sizes
  • Consumer Credit by Type
  • Non-performing vs Others loans
  • Other Personal Lending by Type

Market size details:

  • Outstanding balance % growth
  • Outstanding balance local currency, USD, EUR, GBP, CHF, JPY
  • Outstanding balance per capita local currency, USD, EUR, GBP, CHF, JPY
  • Gross lending % growth
  • Gross lending local currency, USD, EUR, GBP, CHF, JPY
  • Gross lending per capita local currency, USD, EUR, GBP, CHF, JPY

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