2023-05-09 11:32:02
Nfter two years of the Corona doldrums, the demand for consumer credit has increased significantly again in 2022. The credit banks in Germany specializing in financing consumer and capital goods expanded their business in double digits, as the banking association announced on Tuesday. The new loans added up to a total value of 122.8 billion euros, which was 11.4 percent more than a year earlier.
According to the information, the institutes issued new loans to private customers – for example to finance cars – last year with a total volume of 56.6 billion euros, 7.3 percent more than in 2021. Business with companies and the self-employed increased by double digits: Here the credit banks extended new loans totaling EUR 10.2 billion in 2022, an increase of 21.8 percent on the previous year.
“Many companies made up for and financed previously postponed investments in 2022,” said Frederik Linthout, Chairman of the Banking Association. Overall, the institutes organized in the association had lent 180.2 billion euros to consumers and companies at the end of December, 4.3 percent more than a year ago.
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