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 debt commitments. Furthermore, various government initiatives had also created a favourable...
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 for new homes and the secured loans that finance residential property transactions did have...
The emergence of COVID-19 in Malaysia and subsequent lockdown measures in the shape of the Movement Control Order (MCO) which resulted in rising unemployment and decreasing disposable incomes placed a great deal of pressure on consumers, not only in terms of being able to pay for essential goods and services but in their ability to continue...
The banking and consumer lending industries remain strong in Egypt and have continued to function efficiently during the COVID-19 pandemic. The Central Bank of Egypt has stopped issuing new licences, generally meaning that an acquisition is the only way of gaining a foothold in the Egyptian banking industry and the country’s growing economy...
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 market struggled with uncertainty caused by the expected resurgence in March as well as 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. Consumer Lending in Peru report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards,...
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 to lend unfortunately come at time of increased demand for consumer credit among Ukrainians...
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 during the year to influence the consumer lending market was the dramatic spike seen in the unemployment...
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 negatively impacted demand for loans. Consumer Lending in Austria report establishes the size...
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 credit, while at the same time encouraging others to borrow money as a way of supporting their...