Vladimír Urbánek (Kurzy.cz)
Personal finance  |  December 21, 2012 15:52:20

Consumer credit in the EU: a slight decline so far this year


The European market for consumer loans reported in the first half of this year a slight decrease of 0.33%. The aggregate value of new loans reached € 80.6 billion, which is 200 million less than in the first half of last year. While the number of new contracts decreased from 13,034,000 to 12,797,000, an increase of 1.82%, the total amount of claims of all running loans increased from € 281 billion to € 282.9 billion, or 0.66%. According to data Eurofinas organization, which coversprovider of consumer credit from seventeen European countries. Eurofinas is also a member of the Czech Leasing and Finance Association (ČLFA).

While the Scandinavian countries, Great Britain and Germany by semi Eurofinas statistics showed growth in consumer loans, the opposite trend is reported in Southern Europe (Portugal, Spain and Italy), but also Belgium, France and the Czech Republic.It corresponds with the results of member companies CLFA for first to third quarter of this year, which confirmed the decline of the domestic market for consumer loans by 1.2%.

"The slight decline in the Czech market can be seen at several levels. Certainly not good in itself reflects the development of the domestic economy. The consumer confidence and therefore their willingness to spend, but the influenceand commonly shared negative evaluation of the situation in the high politics and society in general. Also because here there is a large consumer reticence, perhaps larger than would correspond to the actual state of the public, but also the family finances. Smaller volumes can also indicate a serious effort to eliminate potentially hazardous provider contracts, "said Chairman of the Board ČLFA Blažena Valkošáková.

Eurofinas,

European Federation of Associations or banks (European Federation of Finance House Associations)covers consumer credit from the European Union, through the respective national associations. Its members include organizations from seventeen countries, including the Czech Leasing and Finance Association (ČLFA). Last year, provided all the associations member companies associated in Eurofinas the needs of its clients more than 326 billion euros.

More in: www.eurofinas.org

Czech Leasing and Finance Association (ČLFA)

is an interest group of companies engaged in non-banking finance and operating leases, loans and installment sales to households and businesses and factoring. Since its foundation in 1991, promotes their common interests and is a partner of the state authorities in solving problems relevant sectors of the financial market. Currently has 53 members.

More in: www.clfa.cz

Media Contact:

Paul Hálek

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