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…

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…

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…

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…

Prior to the 2022 general elections (held in April 2022), new refunds and financial subsidies were announced. One major one was the reimbursement from personal income tax for families with children, pregnant women, and disabled people. Since this was…

Fast loans are becoming increasingly popular in Greece. These digital loans are very easy to issue in terms of process, although normal lending criteria still apply. For applicants, obtaining such a loan is as easy as being approved for a credit card…

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…

Due to COVID-19 restrictions and economic downturn, many people are having difficulty paying off their outstanding balances. Given the latest market dynamics, players are actively helping people who have been negatively affected by measures to…

In the face of the economic effects of the COVID-19 pandemic, the Bank of Thailand temporarily made changes to its lending policy, facilitating access to credit and relieving pressure on lenders and borrowers alike. The consumer lending category to…

In constant value terms (2022 prices), both gross lending and the outstanding balance of consumer credit declined during 2022. As a result, gross lending fell slightly below its pre-pandemic (2019) level. Rising interest rates played a significant…

In 2022, consumer credit gross lending continued to recover from the decline witnessed in current value terms in 2020, due to the economic recession that followed the Coronavirus (COVID-19) pandemic. In the wake of the economic shock of COVID-19,…

Inflation is high in Colombia in 2022, mainly caused by the energy crisis as a result of the war in Ukraine. As a result, interest rates are also rising as the central bank tries to reduce inflationary pressure. In spite of this, gross lending is…