The credit market is in excellent health. In August, the targeted loans performed better than the same month of 2020, the year before Covid, marking a jump of 5.8 percent. Compared to 2021, the expansion was 35.77 percent. Boom for funding requests arrived via the web.
The Italian credit market found in August a further space to consolidate the recovery, underway since the country’s exit from the most acute phase of the health emergency. The most important aspect, and in some ways it is also a confirmation of a trend that exploded with the lockdown, is the growing contribution that the digital channel is giving to the growth of loans: in just 24 months, requests for financing arrived via the web are increased by as much as 130.70%.
These are the most salient points of the new monthly report presented by Experian, one of the leading global information service companies in the world, which reports largely positive data compared to August last year.
Double-digit growth for finalized, personal, and mortgages
In short, the Italian credit market is in excellent health, despite the physiological slowdown in requests for loans and mortgages (in July) due to the typical summer break. If compared with August 2020, the data certify a net increase in indicators, with double-digit growth in targeted loans (+ 35.77%), personal loans (+ 20.94%), and mortgages (+ 16.63%) ).
But an even more significant comparison is that with August 2019, that is the monthly net of the Covid effect: in this case, the finalized loan is confirmed to be largely positive (+ 5.81%), while the personal loan and the data on mortgages are only slightly late (respectively -8.12% and -0.82%).
The unstoppable rise of the web
The discovery of digital by Italians during the various lockdowns deserves a separate chapter. This segment is the only one in the market that continues to grow strongly thanks to an increasingly rich and targeted offer and easier access to the credit process.
A climb, as the analysis, indicates, that not even the summer holidays have slowed down: + 1.53% compared to July 2021, + 26.28% compared to August 2020 and an incredible + 130.70% compared to August 2019. , according to ‘ the PrestitiOnline.it Observatory, just in the summer close-purpose loans, especially those dedicated to the travel and the ceremonies (associated with projects postponed for the pandemic), they have undergone a substantial acceleration.
The digital channel and the response of the banks
Certainly, the most interesting aspect of the August survey is the boom in the use of digital platforms by Italians: a growth, underlined Armando Capone, Experian’s chief commercial officer, which did not stop even in the most ‘holiday month. ‘ of the year.
In this context, he noted, the push coming from the market is so evident that credit institutions are fully understanding the importance of having an intuitive and effective online platform, able to quickly evaluate loan requests.
On the other hand, concluded Capone, the slowdown in growth in August should not come as a surprise since, as is tradition, the month has confirmed that it has a particular dynamic on which the summer break has a significant impact.