Good news for loans to families

The 2016 seems to have started on the right foot for consumer credit. As written on Postel, the spring of Italian loans announces a season of growth. In fact, analysts are in agreement in keeping the sector in the process of re-launching, thanks also to the relaxation of the disbursement criteria, both in the corporate sector and in the household sector. See for further editorial

This trend was recently confirmed by the Banktaly, in the quarterly survey on bank credit conducted for the CB, where the reduction in interest margins applied to average loans was highlighted. The analysis highlighted in particular the close link between a more flexible offer and greater competitive pressure between intermediaries which, moreover, expect further improvements to be made to the supply conditions in the coming months.

These positive trends had already been highlighted by the Banktaly in the supplement to the Statistical Bulletin “Money and Banks” for the month of February, with a specific focus on non-performing loans and loans to private individuals and companies.

In particular, the report shows an annual growth of 0.6% for loans to the private sector.

A figure that leads to moderate optimism, especially because in the two previous surveys it was still negative (-0.2% in January). The same improvement in the trend if we analyze the sector of non-financial companies, for which growth was + 0.3% against -0.9% in the previous month.

Growth rate of bank non-performing loans

In parallel, the Banktaly shows the brilliant reduction in the growth rate of bank non-performing loans, which in February reached 4.7% compared to 9% in the previous year (for a gross amount of 196 billion against the 83 billion of the previous month), also in relation to the sale of credits carried out in February by the main credit institutions.

Cross-referencing the data with the Eurisc analysis in March 2016, we find confirmation of the trends.

A further 5.1% increase in demand is also reported compared to the previous month.

The market is driven by loans for the purchase of goods and services, which in the first quarter of 2016 grew by 17% compared to the same period of the previous year, marking the best result of the last seven years.

Personal loans

Personal loans, while registering a positive result, stood at more moderate increases (+ 1.4% compared to the same period in 2015).

We remember as always that the best way to identify the most suitable loan to your needs is to compare the offers available on the market. Postel offers the possibility to request a quote quickly and free of charge regarding the main types of financing available on the market.

Wanting to give an example to April 29, if we ask for an amount of 20,000 euros to be repaid in 24 months for a new car loan or zero kilometer, we find the following offers: Prestiamocicon monthly payment of 878.18 euros and Taeg 5.29%, Astrofinancecon monthly payment of 886.86 euros and Taeg 6.22% and finally monthly payment of 886.41 euros and Taeg 6.26%.

With regard to the loans designed for home renovation, assuming to request an amount of 15,000 euros to be repaid in 42 months, we find: with monthly payment of 393.78 euros and Taeg 5.77%, Astrofinance with monthly payment of 397.19 euros and Taeg 6.22% and finally Fiditaliacon with monthly payment of 400.27 euros and Taeg 6.80%.

According to Eurisc analysis, the preferred amount class is less than 5,000 euros (47.4% of the total), while the type of repayment plans changes with a preference, unlike in the past, towards the range of more than 5 years years (22.6% of the total). The range of less than 12 months falls to 17.8%.

Also with regard to the interest rates of loans to non-financial companies, the percentages are in net decrease: 2.73% for loans of less than one million euros and 1.10% for loans of over one million euros. All data that, if confirmed in the next quarter, can lead to the hypothesis of a net recovery in consumer credit and increasingly advantageous offers.