Member Profile. ASSOFIN Associazione Italiana del credito al consumo e immobiliare

Transcription

1 Associazione Italiana del credito al consumo e immobiliare

2 NOTE: Sources and definitions are provided in the accompanying supplemental document

3 Italian economic context Population 1 (millions on January 1) Real GDP growth 2 0.1% 0.8% Household Final Consumption Expenditure 5 0.3% 1.6% Unemployment % 11.9% Inflation 4 0.2% 0.1% Real household consumption per capita 6 ( /inhabitant) Real adjusted household gross disposable income per capita 7 ( /inhabitant) Household saving rate % 11.8% Household indebtedness ratio % 61.9% Source: Eurostat 1-9

4 Italian economic context Italy compared to the rest of Europe Real GDP growth rate 2 and household final consumption growth 5 for 2015 Household real adjusted gross disposable income 7 vs. household real consumption 6 ( per capita, 2015) 5% % % % % % FI IT FR ES BE DK PT NO DE LT NL UK PL SE CZ TR Real GDP Growth Household Final Consumption Expenditure 0 BE CZ DK DE ES FR IT LT NL PL PT FI SE UKNO Household real consumption Household real adjusted gross disposable income Source: Eurostat 2, 5-7

5 Italian economic context Italy compared to the rest of Europe Household saving rate 8 (%) Household gross debt-to-income ratio 9 (%) 20% 300% 15% 250% 10% 200% 5% 150% 0% 100% 50% -5% LT PL UK PT FI DK ES CZ IT BE NO FR NL DE SE 0% LT PL CZ IT FR DE BE FI PT ES UK SE NO NL DK Source: Eurostat 8&9

6 Italian consumer credit market structure Dec 2015 (ECB) Dec 2014 (Banca d Italia) June 2015 (Assofin)* June 2016 (ECB) June 2016 (Banca d Italia) 1. Total lending to households in mil (outstandings) Consumer credit * * Loans for house purchasing Loans for other purposes *The ECB data does not include consumer credit granted from OFIs, which comprises a substantial portion of the Italian market ( - including car finance) (ECB) 2. Growth of total consumer credit national market in terms of outstandings (CAGR 08-15) 0.7% 5.9% Source: ECB 11, Banca d Italia 11h & Assofin

7 Italian consumer credit market structure During 2014 new consumer credit recovers showing a slight increase (+2.5%) after five consecutive years of decline. During the first 6 months of 2015 growth consolidates (+12.4%), mainly driven by car finance and credit cards. In Italy consumer credit is mainly granted by specialised lenders (can either have a banking licence or be a finance house), accounting for 75% of the market. Universal banks cover the remaining 25% of the market (2014). However, recently two important banks incorporated the business of consumer credit formerly delegated to subsidiaries, so for 2015 there will be an increase in the market share of universal banks. Specialist consumer credit providers have a competitive advantage in terms of specific skills required to deal a large number of smaller businesses, typical of consumer credit, risk management, CRM, marketing and diversification of distribution channels. The share of point of sale finance (car finance and other pos loans) remains stable compared to 2013 (29% of total new credit granted). 42% covers personal loans and secured loans (CQS) while the remaining 29% refers to credit cards (2014). members don t offer any cross border consumer credit. The top five companies account for 53% of the total national market for consumer credit, indicating an average level of concentration. Product mix of consumer credit in terms of new credit granted Source: * Cessione del quinto dello stipendo (CQS) is a secured loan which is repaid by the employer of the borrower by keeping one fifth of the wages paid.

8 Assofin membership Assofin membership structure Finance houses 28 Captives 9 Specialised banks 8 Universal banks 9 Other 13 Share of total national consumer credit & car finance market 92.8% Share of total national mortgage market 67.6% Share of new credit granted Growth of total consumer credit member market in terms of outstandings (CAGR 09-15): 0.9% Source: Eurofinas 12, Consumer car finance 28% 21% Non auto PoS 13 5% 8% Personal loans 45% 42% Revolving 20% 29%