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Learn moreDec 2020
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The sudden economic downturn resulting from the COVID-19 pandemic led to an abrupt decline in demand for consumer credit in Austria. As a result of the challenging economic environment, consumer credit suffered from a significant drop in consumer confidence and a consequent reduction in appetite for purchases of big-ticket items via loans.
Although still at a relatively low level when compared with other Western European countries, gross card lending recorded strong growth over the review period. Despite the recent crisis, this trend is expected to continue, with card lending thus set to be the best performing category in consumer credit over the forecast period.
Austrian consumers in need of a loan tend to still go to their traditional family bank and talk to a trusted adviser first, often not even comparing credit terms and conditions with other lenders. Consequently, the four major retail banks - UniCredit Bank Austria, Erste Bank der oesterreichischen Sparkassen, Raiffeisen Bank International and BAWAG PSK - continue to lead consumer credit in Austria.
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Discover the latest market trends and uncover sources of future market growth for the Consumer Credit industry in Austria with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, with our detailed market analysis and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Consumer Credit industry in Austria, our research will save you time and money while empowering you to make informed, profitable decisions.
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Why buy this report?
Euromonitor’s Consumer Credit industry reports, originate from our Passport database, to find out more click here.
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.