Consumer lending in 2024: The big picture
Consumer lending in the Czech Republic showed a mixed but broadly positive performance in 2024. While total gross lending increased in current value terms, growth was considerably lower than in 2023.
Digitalisation trend continues to gain momentum
Digitalisation continued to play an increasingly influential role across consumer lending in the Czech Republic in 2024. The most visible manifestation of this trend remained the rise of neobanks and other types of fintechs that operate exclusively online.
Interest rate cuts bolster mortgage applications and refinancing
Given the larger sums involved and the longer repayment terms, mortgages/housing was among the consumer lending categories in the Czech Republic that profited most from the sustained reduction of interest rates in 2024. While its results in terms of current value growth in gross lending and the outstanding balance were skewed somewhat by rapidly rising house prices, demand was also buoyed by the fact that it has recently become easier to obtain mortgages following the decision of the Czech National Bank to remove the debt-service to-income (DSTI) threshold of 45% for this type of loan in June 2023.
Uptake of BNPL services remains strong
Buy now pay later (BNPL) services continued to gain popularity in the Czech Republic in 2024. Having initially been pioneered by local players such as Twisto and Skip Pay, consumer awareness of this type of lending has risen significantly since the entry of Swedish giant Klarna in 2022.
What next for consumer lending?
The outlook for consumer lending in the Czech Republic over the forecast period is favourable, with total gross lending and the overall outstanding balance projected to increase steadily in current value terms. The demand for and supply of all types of loans look set to remain buoyant due to low interest rates, stable inflation, robust GDP growth and other positive economic indicators.
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Overview:
Understand the latest market trends and future growth opportunities for the Consumer Lending industry in Czech Republic 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 Lending industry in Czech Republic, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Consumer Lending in Czech Republic report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Consumer Lending in Czech Republic?
- What are the major trends key to understanding Consumer Lending in Czech Republic?
- How has COVID-19, recession and macroeconomic volatility impacted the market?
- How long will the market take to recover? What are the opportunities now?
- How will political context and shifting cultural values shape future growth?
- Where is future growth expected to be most dynamic?
Consumer Lending in the Czech Republic - Industry Overview
Consumer lending in 2024: The big picture
Digitalisation trend continues to gain momentum
Interest rate cuts bolster mortgage applications and refinancing
Uptake of BNPL services remains strong
What next for consumer lending?
DISCLAIMER
Consumer Credit in the Czech Republic - Category analysis
KEY DATA FINDINGS
Card lending slows as cost-of-living pressures ease
Improved macroeconomic climate boosts non-card lending
Traditional lenders face growing threat from neobanks and fintechs
Solid growth in gross lending projected for all categories
Popularity of BNPL services will temper expansion of card lending
CCD II should strengthen consumer trust in industry standards
The following categories and subcategories are included:
Consumer Lending
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- Auto Lending
- Card Lending
- Durables Lending
- Education Lending
- Home Lending
- Other Personal Lending
- Mortgages/Housing
Consumer Lending
Aggregate of Consumer Credit and Mortgages/Housing. Gross Lending: The total value of loans advanced by institutions in a given year; data refers to single year only. Outstanding Balance: The collective amount owed by borrowers at the end of a given year; data refers to the cumulative impact of debt.
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This report originates from Passport, our Consumer Lending research and analysis database.
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