After the significant increase in 2022, consumer lending growth is expected to moderate in the short term. Whilst the Spanish economy is not in a bad state, memories of the 2008 financial crisis (when a housing bubble was spectacularly and painfully popped) remain very strong in the country and there is an unsettling feeling of uncertainty among consumers, making them cautious when it comes to borrowing in case there is another financial crisis.
Personal loans are set to continue to increase thanks to BNPL, which has grown significantly over the past two years and is expected to continue to do so over the course of the forecast period. Financial institutions have seen opportunity for growth in BNPL and are actively promoting it.
Banks are increasingly offering consumer credit online, increasing the lending possibilities through e-banking and mobile banking. This is particularly the case for smaller loans of up to EUR3,000.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in Spain with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in Spain, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See All of Our DefinitionsThis report originates from Passport, our Consumer Credit research and analysis database.
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