What is the state of health of the consumer credit market in Italy ? In the first quarter of 2015, a positive trend was confirmed that began at the end of 2014, with clear signs of recovery in the supply of loans to households .
After five years of decline, the consumer credit market is starting to see a marked recovery, mainly due to a “distension of supply conditions” and an increase in demand.
Consumer credit in Italy, the 2015 recovery in detail
According to the results of the thirty-eighth edition of the Retail Credit Observatory , in the months of January, February and March 2015, the market, in Italy, can be summarized as follows:
- + 6.1% for the sale of the fifth (salary and pension) – Loans from the Corso Loan system are growing again.
- + 9.3% – This is the increase in the disbursements of all the technical forms of financing for consumption;
- + 10.4% for the purchase of cars and motorcycles – This is the financing sector that drove the start of the recovery at the end of 2014. The increase in the first quarter of 2015 was encouraged by the better conditions of funding offer and by promotional rates;
- + 15.7% for installment credit and option credit – Growth, compared to the last quarter of 2014, of the credit increase through installment and option cards has tripled.
- Furniture financing reigns among furniture financing – Thanks also to the so-called “mobile bonus” and promotional rates promoted on the market, the general growth of the targeted loans is driven by the purchase in the furniture sector.
- The bank as a reference point to apply for loans – Both directly and through partnerships with specialized financial institutions, the bank consolidates, in the first quarter of 2015, as an interlocutor for the application of personal loans , salary and pension transfers .
The credit market profile shows an Italy of more trusting families
All the characteristics listed, together with an increase in the average funding and duration of the loans and personal loans give the signal of a country that has more confidence in the recovery and that makes more use of credit to give vent to those postponed purchases for five years of crisis.