Consumer Credit

In 2022, consumer credit is set to continue to rebound in terms of gross lending value, following the significant pandemic-induced decline for both card lending and non-card lending in 2020. In particular, rising consumer confidence in taking out…

Card lending remained under pressure in Poland during 2022 as consumer sentiment remained decidedly pessimistic. One major factor making credit cards less attractive is rising interest rates. Indeed, there were nine interest rate increases between…

In 2022, consumer credit gross lending and the overall outstanding balance are set to increase in current value terms. The continued growth is driven by a recovery in consumer spending behaviour that has gained momentum thanks to high vaccination…

Buy Now Pay Later (BNPL) is the most relevant trend in consumer lending in Mexico in 2022. It leads growth in other personal lending by a long way, surging with double-digit rises as all others continue to decline. The year is seeing a high level of…

The COVID-19 pandemic created significant disruption to the global economy and consumer lending. However, the impact has not been so destructive in Vietnam. Rather, in Vietnam, consumer finance companies have continued to operate with relative…

Buy now pay later (BNPL) options are gaining momentum, especially amongst the younger generation, along with the growth of e-commerce and its benefits of ease of processing for payment. These options are especially valued by consumers as an…

In 2021, there was a significant rebound in total gross lending in Chile, although some categories such as auto lending and durables lending remained pre-pandemic levels. The upturn was mainly due to joint support measures introduced by the…

Consumer credit is being driven by increasing consumer expenditure in 2022 following the easing of pandemic-related restrictions. This is leading to the resumption of socialising, and the return of more normal shopping and travel habits. On the other…

Norway is already among the leaders in terms of digitalisation and the moves towards a cashless society, as well as in Buy Now Pay Later (BNPL) implementation (over one fifth of e-commerce payments). Nonetheless, further strong growth is expected in…

Traditionally, Moroccans have been reluctant to take on consumer debt due to high interest rates. Very few of them have credit cards, for example. In a highly uncertain economic environment, the rate of growth in gross consumer credit lending slowed…

Consumer credit registered marginal growth in 2022, with outstanding balance values remaining well below pre-pandemic levels. During the first year of the pandemic, consumers became more conservative with respect to new lending and expenses, as the…

Consumer credit has succeeded in recovering quickly from the impact of COVID-19 and continues to grow consistently. Indeed, all consumer credit products are displaying growth, including housing loans/mortgages (KPR), auto loans (KKB), multipurpose…

Although the Buy Now, Pay Later (BNPL) model continues to gain momentum in Australia, there are drawbacks to the system. In the current climate of high inflation following the pandemic, local consumers are more likely to rely on credit systems such…

The removal of pandemic-related restrictions is driving a strong recovery in domestic and outbound travel and tourism, which is positively influencing consumer credit. Many Danes are paying for trips using their credit cards underpinning card lending…

The pandemic caused uncertainty, and disrupted Singaporean students who planned to study abroad. Therefore, more locals opted to pursue their further education locally instead, together with help from the government. The Ministry of Education has…

Gross consumer lending is set to record another year of double-digit current value growth in 2022, supported by the greater resumption of daily activities and more mobile lifestyles as restrictions have eased, thereby boosting consumer confidence in…

Card lending in Taiwan is registering moderate growth in gross lending in 2022, after a decline in the previous two years. Consumers are once again spending on cards although outstanding balances continue to decline in 2022. Credit cards are not…

Consumer credit continues to recover in 2022 after the strong decline witnessed in 2020 following the outbreak of COVID-19. Nonetheless, economic instability is slowing down new contacts and limiting contracted amounts as consumers are being advised…

Consumer credit is seeing significant recovery in 2022, both in gross lending and outstanding balance, with a return to pre-pandemic levels expected. This follows the negative impacts of the COVID-19 pandemic, as Peruvian consumers were more…

In 2022, outstanding balance and gross lending continues to grow well despite the impact of the pandemic and rising inflation on the Nigerian economy. This is because of Apex Bank’s loan-to-deposit ratio (LDR) policy which stipulates that 65% of the…