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A Look at the European Consumer Credit Market

A Look at the European Consumer Credit Market . Jurgita Bucyte Adviser Statistics and Economic Affairs. ALB National Conference, Bucharest 18 November 2010. About Eurofinas Eurofinas Market Evolution Consumer Credit Consumer Credit for Personal Consumption Vehicle Finance

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A Look at the European Consumer Credit Market

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  1. A Look at the European Consumer Credit Market Jurgita Bucyte Adviser Statistics and Economic Affairs ALB National Conference, Bucharest 18 November 2010

  2. About Eurofinas Eurofinas Market Evolution Consumer Credit Consumer Credit for Personal Consumption Vehicle Finance Consumer Credit Market in 2010 Agenda

  3. About Eurofinas • The voice ofspecialised consumer credit providersat European level • It currently represents18 Member Associations • In turn bringing together more than764 finance and credit institutions • Employing over78 000 people Eurofinasmembers

  4. Eurofinas Market Evolution Total Eurofinas lending – period on period growth rates Xx 15% Adjusted for exchange rate fluctuations 10% 5% 0.5% 1.5% 0% -3.8% Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- -5% 02 03 03 04 04 05 05 06 06 07 07 08 08 09 09 10 -1.7% -2.9% -10% -15.2% -15% -20% -25% Outstandings New credit Growth rates for new credit compare the first 6 months of the year for biannual figures while they compare 12 months for annual figures

  5. Eurofinas Market • Total new credit -15.2% -1.7% 373 B€ 159 B€ 156 B€ 316 B€ Mil€ Mil € 180 000 400 000 48 126 160 000 350 000 19 479 21 412 30 285 140 000 300 000 40 263 12 001 11 322 23 590 120 000 102 329 250 000 44 762 43 871 100 000 88 502 200 000 80 000 150 000 60 000 191 931 100 000 82 398 40 000 79 283 163 572 50 000 20 000 0 0 2008 2009 H1 2009 H1 2010 CC for pers consumption Industrial credit Vehicle finance Mortgages Source: Eurofinas 2009 Annual and 2010 Biannual Surveys

  6. Eurofinas Market • New consumer credit lending & market share per Eurofinas member in H1 2010 300 000 120% 250 000 100% 200 000 80% 45% (*) Mil€ 150 000 60% 100 000 40% 50 000 20% 0 0% BE CZ DE DK ES FI FR IT LT NO PT RO SE UK Eurofinas cc Outstandings Total national cc Outstandings Market share (*) Eurofinas Market Share calculated excluding NO, DK, RO

  7. 1% 13% 22% 20% 8% 36% Eurofinas Market • Total new consumer credit by product type (2009) 230 Bil € Personal loans Revolving Non-auto Pos New car finance Pos Used car finance PoS Other vehicle PoS

  8. Consumer Credit for Personal Consumption • Consumer credit vs private consumption – period on period growth rates 12% 7% 2% 2002 2003 2004 2005 2006 2007 2008 2009 -3% -8% -13% -18% Consumer Credit for Personal Consumption Private Consumption Source: Eurofinas Annual Surveys, Eurostat

  9. Consumer Credit for Personal Consumption New credit – period on period growth rates New credit – growth per member (2009 vs 2008) 60% 20% 15% 40% 10% 20% ES UK PT CZ FR SE NL IT BE FI DE 5% 0% 0% -20% Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- -5% 02 03 03 04 04 05 05 06 06 07 07 08 08 09 09 -11.8% -40% -10% -12.9% -60% -15% -14.8% -20% -80% -18.7% Non-auto Pos Personal loans Non-auto PoS Personal Loans Revolving Overall Revolving credit Growth rates for new credit compare the first 6 months of the year for biannual figures while they compare 12 months for annual figures

  10. Consumer Credit for Personal Consumption New credit – period on period growth rates New credit – growth per member (H1 2010 vs H1 2009) 15% 100% 10% 80% 5% 60% 0% 40% Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- -5% 20% 02 03 03 04 04 05 05 06 06 07 07 08 08 09 09 10 UK PT -10% 0% FI CZ NO DK BE LT IT ES DE FR SE -15% -20% -3.9% -3.5% -20% -40% Personal loans -5.9% -6.5% Personal Loans Non-auto PoS Revolving credit -4.7% -3.7% Revolving Non-auto Pos Overall -3.8% -4.6% Adjusted for exchange rate fluctuations Growth rates for new credit compare the first 6 months of the year for biannual figures while they compare 12 months for annual figures

  11. New Cars Used Cars Vehicle Finance Consumer car finance – new credit granted period on period growth Consumer car finance – growth per member (2009 vs 2008) 60% 12% 40% 7% 2% 20% NL ES FI IT CZ UK BE PT FR -3% 0% Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- NO SE DE 03 04 04 05 05 06 06 07 07 08 08 09 09 -8% -20% -13% -40% -5.9% -18% -60% -10.8% New cars Used cars Growth rates for new credit compare the first 6 months of the year for biannual figures while they compare 12 months for annual figures

  12. New Cars Used Cars Vehicle Finance Consumer car finance – new credit granted period on period growth Consumer car finance – growth per member (H1 2010 vs H1 2009) 12% 50% 30% 7% BE DE IT DK FI CZ 10% 2% -3.4% -4.9% -10% FR ES PT NO UK SE -3% Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- Dec- Jun- -30% 03 04 04 05 05 06 06 07 07 08 08 09 09 10 -8% -50% -13% -70% -5.1% -6.0% -90% -18% New cars Used cars Adjusted for exchange rate fluctuations Growth rates for new credit compare the first 6 months of the year for biannual figures while they compare 12 months for annual figures

  13. Economic Context GDP growth and household final consumption expenditure (2009) Household saving rate (2009) % IT CZ FR DE BE NO UK PT FI SE ES 20 0% 16 -2% 12 -4% 8 -6% 4 0 -8% UK NO PT FI ES CZ SE IT FR BE DE Real GDP Growth -10% 2007 2008 2009 Real Household Consumption Growth Source: Eurostat

  14. Consumer Credit Market in 2010 There is support to the view that the economic recovery is broadening…. • Consumer confidence is advancing • While disposable income remains weak, the decline in the household saving rate from its peak during the crisis, subdued inflation and stabilising labour-market conditions bode well for consumer spending in the near term ...however uncertainty remains high • So far lending growth to households has remained very moderate • Poor expectations for new car registrations in H1 2010 in the main European markets

  15. A Look at the European Consumer Credit Market Jurgita Bucyte Adviser Statistics and Economic Affairs ALB National Conference, Bucharest 18 November 2010

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