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Country Report

Philippines Flag Consumer Lending in the Philippines

| Pages: 13

Price: US$1,900

About this Report

EXECUTIVE SUMMARY

Consumer lending records double-digit growth in 2014

The Philippine consumer lending industry remained upbeat in 2014, surpassing growth of the previous year. The local industry benefited from a vibrant economic performance, an influx of OFW remittances, and the expansion of BPO (business process outsourcing), which altogether increased the appetite for consumer loans. More middle-income Filipinos were investing in their first properties and cars, facilitated by the widening choices of low/medium-cost housing in Metro Manila and provincial areas as well as the availability of car models that were specifically geared towards first-time buyers.

Local banks invest in stimulating consumer loans

With the vibrant growth in consumer loans, local banks are coming up with different strategies to increase their share of the industry. Leading banks are offering more attractive product offerings, lower interest rates and freebies in order to compete with other players. Meanwhile, some competitors are focusing on improving their services by significantly cutting loan processing time and focusing on the training of sales teams.

Mortgages/housing and auto lending outpace all categories

Filipinos continued to finance their dream homes and cars through consumer loans. During 2014, mortgages/housing and auto lending recorded the fastest growth among all categories. Because of the huge monetary cost of owning a house, most Filipinos still preferred to purchase houses through loans. Real estate players’ establishment of mixed-use projects steadily appealed to middle-income urban dwellers while low-cost housing encouraged lower-income consumers to purchase their own place instead of paying rent. Meanwhile, there was growing demand for cars in the Philippines, which was fuelled by more-affordable rates from financial institutions coupled with very low down payment.

Card lending accounts for the largest proportion of consumer loans

Card lending remained the largest contributor to consumer loans in 2014. Despite the still relatively low percentage of the local population that owned credit and store cards, card lending’s share surpassed all other categories. While banks were still very strict about issuing credit cards, credit card owners enjoyed more-attractive options from issuers as well as retail establishments. More retailers were offering zero-instalment payment schemes to credit card users. Meanwhile, with competitors neck and neck in the local industry, banks continued to come up with creative strategies to reward credit purchases through rebates or freebies.

Consumer lending faces bright prospects

With the ongoing economic reforms spearheaded by the government and the inflow of remittances, consumer lending in the Philippines will continue to grow at a double-digit rate at constant 2014 prices over the forecast period. The favourable macroeconomic conditions will translate to very positive consumer sentiment that will propel investment in gadgets, durables, secondary education, businesses, houses and personal transportation. With banks investing in growing their consumer loan businesses, Filipinos’ access to credit is projected to increase.

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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 records double-digit growth in 2014

Local banks invest in stimulating consumer loans

Mortgages/housing and auto lending outpace all categories

Card lending accounts for the largest proportion of consumer loans

Consumer lending faces bright prospects

KEY TRENDS AND DEVELOPMENTS

More players offer rebates to reposition loans as investments

Lending institutions provide more convenience to borrowers

Mortgages/housing accelerates further at the back of strong consumer demand

MARKET DATA

  • Table 1 Consumer Lending: Outstanding Balance by Category: Value 2009-2014
  • Table 2 Consumer Lending: Outstanding Balance by Category: % Value Growth 2009-2014
  • Table 3 Consumer Lending: Gross Lending by Category: Value 2009-2014
  • Table 4 Consumer Lending: Gross Lending by Category: % Value Growth 2009-2014
  • Table 5 Consumer Lending: Non-performing vs Other Loans Outstanding Balance: % Value 2009-2014
  • Table 6 Mortgages/Housing: Non-performing vs Other Loans Outstanding Balance: % Value 2009-2014
  • Table 7 Consumer Credit: Non-performing vs Other Loans Outstanding Balance: % Value 2009-2014
  • Table 8 Card Lending: Non-performing vs Other Loans Outstanding Balance: % Value 2009-2014
  • Table 9 Forecast Consumer Lending: Outstanding Balance by Category: Value 2014-2019
  • Table 10 Forecast Consumer Lending: Outstanding Balance by Category: % Value Growth 2014-2019
  • Table 11 Forecast Consumer Lending: Gross Lending by Category: Value 2014-2019
  • Table 12 Forecast Consumer Lending: Gross Lending by Category: % Value Growth 2014-2019

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 2009-2014
  • Table 14 Consumer Credit: Outstanding Balance by Category: % Value Growth 2009-2014
  • Table 15 Consumer Credit: Gross Lending by Category: Value 2009-2014
  • Table 16 Consumer Credit: Gross Lending by Category: % Value Growth 2009-2014
  • Table 17 Forecast Consumer Credit: Outstanding Balance by Category: Value 2014-2019
  • Table 18 Forecast Consumer Credit: Outstanding Balance by Category: % Value Growth 2014-2019
  • Table 19 Forecast Consumer Credit: Gross Lending by Category: Value 2014-2019
  • Table 20 Forecast Consumer Credit: Gross Lending by Category: % Value Growth 2014-2019

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
  • Other Personal Lending by Type
  • Non-performing vs Others loans

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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