Consumer Lending

2020 was a mixed year for consumer lending. COVID-19 has meant that, in general, gross lending slowed down, particularly as mortgages had already started experiencing a slowdown as a result of social unrest towards the end of 2019. Furthermore, the ...

Negative growth was recorded across the Peruvian consumer lending industry during 2020 as the COVID-19 pandemic had a very detrimental impact on the willingness of people to borrow money. Indeed, negative growth was recorded in gross lending and ...

In 2020, the COVID-19 outbreak led to a sudden slowdown in consumer lending in Romania, with the pandemic significantly reducing appetite among consumers to take on debt. Declining incomes and rising uncertainty over economic prospects also ...

In 2020, the COVID-19 outbreak led to a sudden slowdown in consumer lending in Austria, with the pandemic significantly reducing appetite among consumers to take on debt. Declining incomes and rising uncertainty over economic prospects also ...

The COVID-19 pandemic definitely had a strong influence on Ukraine’s consumer lending market during 2020. In particular, the economic uncertainty that has emerged in the wake of pandemic has discouraged banks from issuing new loans. This reluctance ...

Morocco’s consumer lending market recorded positive growth in outstanding balance and gross lending terms in 2020, although at a slower pace than what was recorded in 2019. The COVID-19 pandemic made many people more reluctant to engage with consumer...

The COVID-19 pandemic exerted a strong and wholly adverse impact on the Israeli economy during 2020, although the influence of the pandemic on consumer lending was rather more complex and not entirely negative. Among the main factors that emerged ...

The impact of COVID-19 on consumer lending in Nigeria cannot be overstated as the local economy was impacted by recession following various lockdown measures, resulting in rising unemployment and decreasing disposable incomes. Mainstream financial ...

Greece’s consumer lending industry faced a tough year during 2020 as the negative economic impact of the COVID-19 pandemic discouraged consumers from borrowing money, unless absolutely necessary. Many people in Greece still harbour bitter memories of...

The emergence of the pandemic in South Africa and the subsequent lockdown period introduced by the government in an attempt to control the spread of the virus, exacerbated already rising unemployment levels witnessed in 2019, and dramatically reduced...

In 2020, the COVID-19 outbreak led to a sudden slowdown in consumer lending in Denmark. This was due to the immediate economic impact of the pandemic, which significantly reduced inclination among consumers to take on debt. Income losses and a high ...

While Saudi Arabia anticipates sharp recession in 2020, consumer lending is expected to grow more strongly compared to previous years of the review period, supported by ongoing growth in mortgages/housing but also as a result of the strong ...

Norway managed to escape the worst economic impacts of the COVID-19 pandemic during 2020 as the country’s response to the pandemic was more moderate than what was seen in most European countries. Moreover, with many white-collar employees able to ...

The COVID-19 epidemic reached the Hungarian consumer lending market at the peak of a highly upbeat period marked by low interest rates, high levels of consumer sentiment and widespread optimism among the population about their ability to meet their ...

The emergence of COVID-19 in Portugal resulted in economic instability with rising unemployment and a reduction in consumers’ purchasing power. This scenario resulted in a significant decline in gross lending for consumer lending in 2020, as ...

Taiwan has so far managed to successfully contain the spread of COVID-19 which has helped to lessen the impact on the country’s economy, albeit GDP is still expected to contract by 1.8% in 2020. Nevertheless, with social distancing in place, strict ...

Consumer lending in Argentina has been significantly impacted by the COVID-19 outbreak, with self-isolation and lockdown measures making it difficult for consumers to apply for loans. Consequently, many people postponed purchases of some ...

The COVID-90 pandemic had a very strong and distinctly negative impact on the Colombian economy. In particular, the country’s consumer economy receded substantially over the second and third quarters of the year as many consumers sought to avoid all ...

The COVID-19 pandemic had a negative impact on Vietnam’s economy during 2020 as the official response to the pandemic led to a major interruption of commercial activity in various key sectors of the national economy. Nevertheless, the direct impact ...

The COVID-19 pandemic had little discernible impact on the Czech consumer lending industry during 2020. With the majority of consumer lending outstanding balance accounted for by mortgage/housing loans, the moderate and temporary dip seen in demand ...