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Growth in consumer gross lending declined slightly in 2019, yet continued to record moderate growth, supported by growing demand for consumer credit, while gross lending in mortgages/housing largely remained stable following the peak in 2017. In a period of ongoing low interest rates, economic development in Austria continued to accelerate and Austrians’ attitudes to their future, along with their willingness to spend, continued to improve, thus supporting consumer lending.
Mortgage/housing loans register stable growth
In contrast, real estate remained Austrians’ preferred investment instrument. Consequently, the housing market remained strong in both volume and value terms but did not witness significant further growth, with mortgages/housing recording stable growth in 2019 after the strong growth of 2017.
Demand for consumer credit remains high, albeit with slower growth coming
Demand for consumer credit remained relatively stable after the peak in 2017 following a period in which it remained flat despite attractive interest rates. The main reasons for this upturn were successful promotional activities from lenders and easier accessibility to small loans.
Traditional banks lead while BAWAG PSK tries something new
The four major domestic retail banks, UniCredit Bank, Erste Bank der oesterreichischen Sparkassen, Raiffeisen Bank International and BAWAG PSK, remained the leading players in consumer lending in 2018 as most Austrians in need of a loan continued to trust their house bank. Online-only direct banks such as Easybank, however, continued to register strong growth in terms of account holders but still only played a minor role in consumer lending.
Caution to prevail when taking out a loan
After strong growth in demand for consumer lending in 2017, growth stabilised in 2019 and the upward trend in gross lending is expected to slow considerably over the forecast period, but at the same time remain at reasonable levels. Growth in gross lending will likely be significantly stronger in consumer credit than in mortgages/housing, which is expected to cool significantly after a number of years of double-digit growth over the review period.
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Discover the latest market trends and uncover sources of future market growth for the Consumer Lending industry in Austria 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 Austria, our research will save you time and money while empowering you to make informed, profitable decisions.
The Consumer Lending in Austria 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 Austria?
What are the major trends set to impact the market in Austria?
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