The trend is due to a higher demand for above-average loans, which reflects increased consumer confidence in the country’s economic situation.
Consumer loans account for the bulk of new financings (89.4%), auto loans make up 2.2%, while industrial loans account for 8.4% of overall new financings.
New consumer loans rose 32% on the year in the first half of 2016, seeing a positive dynamic at all their sub-categories: personal loans, holding a share of 51% at the end of June, credit cards (41%) and POS loans granted directly at retailers (8%).
Personal loans saw the fastest growth rate, namely, 53 % compared with the first half of 2015, on the backdrop of a positive dynamic of household consumption and economic growth.
At the end of the second quarter of 2016, the overall balance of loans granted by ALB members reached RON3.8 billion, up 4.4% compared with June 2015.
According to ALB estimations, its member consumer lending companies hold a share of approximately 80% in overall consumer loans granted by non-banking financial institutions in Romania.