Global credit demand closed the first quarter of 2023 at its highest levels since 2019, as it stands 129% above the levels of January of that year, which consolidates its positive trend, according to the ‘Report on Credit Trends’. Crédito’ of April 2023, prepared by the National Association of Credit Financial Establishments (Asnef) and Equifax.
By sectors, consumer finance companies and microfinance companies maintained their upward trend, standing at 132% and 179% compared to January 2019, respectively.
On the other hand, the automotive sector, which suffered the greatest decline during the crisis period, managed to reach normal values thanks to a strong rise during the first quarter of the year, closing the month of March at 123%.
Lastly, banking and savings bank activity has shown sustained growth, in line with last year’s values, according to the report.
On the other hand, the credit demand risk profile – which measures the percentage of debtors found in the Asnef file over the total number of credit inquiries – continued with the downward trend of the second half of 2022 and stood at 79 % compared to January 2019, the lowest value in the last four years.
Regarding the stock of unpaid balance, Asnef points out that it continued to experience a “sharp decline” due to the sale of loan portfolios from various clients, therefore, despite its current trend, it calls for waiting for the coming months to observe the evolution of this stock.
Finally, the collection has slowed down significantly, after a few months of fluctuations and the good activity experienced at the end of 2022. The report indicates that this decrease is a consequence, to a large extent, of the strike of the courts that has took place during the first quarter of 2023.
To read more
2023-05-09 13:32:29
#Global #credit #demand #closes #March #highest #levels #years #Asnef #Forbes #Spain
