Personal loans, consumer loans not allocated to a particular good, fell in the first quarter by 25.3% over one year, announced the French Association of Financial Companies (ASF). In volume, the amount went from 3.56 billion euros between January and March 2022 to 2.66 billion euros over the same period this year.
On the bench of the accused, “the too slow increase in the rate of wear with regard to the costs of refinancing”, advances the association, which makes the granting of this type of loan less profitable for the banks.
The rise in central bank interest rates, including the European Central Bank (ECB), has led to an increase in the cost of money for credit institutions, which they have not been able to fully pass on to their customers in the fact of the usury rate, a ceiling rate intended to protect the borrower against over-indebtedness.
With nearly 95 billion euros in outstandings at the end of December, personal loans represent almost half of consumer credit outstandings, according to the Banque de France.
Loans allocated to home improvement and household equipment remained stable over the quarter (+3.9%) and revolving loans benefited from favorable circumstances. (+11.1%). However, this volume of production says nothing about the quality of the borrowers.
2023-05-20 11:51:03
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