Economic recovery and the removal of pandemic-related restrictions are driving consumer lending growth in 2022. Consumers are returning to travel and using card lending more to fuel this pursuit and other shopping needs.
Rising inflation and interest rates in 2022 are impacting lending decisions, forcing banks to tighten credit standards. Financial institutions are concerned about economic stability and the robustness of clients.
Interest rates on mortgages rose in February and June 2022, on both new and existing loans, negatively impacting home-buying plans and raising the cost of paying off credit card balances. Potential home owners are expected to skip or postpone purchase or may even downgrade the size of property or location to find something more affordable.
There will be a slowdown in consumer lending growth over the forecast period following a period of adjustment post-pandemic. Economic conditions and the war in Ukraine are pushing up inflation, causing uncertainty and lower consumer confidence.
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Understand the latest market trends and future growth opportunities for the Consumer Lending industry in Denmark with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Lending industry in Denmark, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Aggregate of Consumer Credit and Mortgages/Housing. Gross Lending: The total value of loans advanced by institutions in a given year; data refers to single year only. Outstanding Balance: The collective amount owed by borrowers at the end of a given year; data refers to the cumulative impact of debt.See All of Our Definitions
This report originates from Passport, our Consumer Lending research and analysis database.
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