Consumer credit outstanding balance values saw moderate growth in Portugal in 2025, while gross lending values saw healthier growth. Outstanding balance growth remained at a similar level as seen in the previous year, while gross lending growth almost doubling in growth compared to the previous year. This performance was supported by overall economic stability and rising consumer financial confidence.

Consumer credit outstanding balance saw small growth in Poland in 2025, albeit at a slightly higher rate than seen in the previous year. Meanwhile, gross lending values remained at healthier growth levels, albeit at a slightly lower rate than seen in the previous year. This growth remained driven by consumers seeking credit to cover their economic necessities, following the previous period of high inflation although inflationary pressures came down in 2024 and 2025.

Consumer credit maintained growth in Romania in 2025, in both terms of outstanding balance and gross lending. However, while outstanding balance growth is higher than seen in the recent review period, growth in gross lending has reduced compared to the previous year.

Consumer credit saw positive growth in Sweden in 2025, in both outstanding balance and gross lending, albeit at slightly lower rates of growth than seen in the previous year. It is noted that, with improvements in the economy, consumers have stronger spending power, although still use consumer credit for higher value purchases.

Consumer credit saw positive growth in Norway in 2025, with stronger growth in outstanding balance values compared to the previous year, and a slight decline in gross lending values compared to the previous year. This performance is attributed to improving conditions in the economy.

Consumer credit maintained positive growth in Peru in 2025, in both outstanding balance and gross lending, at slightly higher growth rates than seen in the previous year. One of the main factors contributing to this growth has been the improvement of the Peruvian economy thanks to the growth of national production, the maintenance of inflation levels within the target ranges established by the Central Reserve Bank of Peru, and improvements in employment. All of this has favoured stronger consume

Consumer credit in Ukraine is being impacted by a combination of policy measures, international partnerships and rapid digitalisation. Multilateral guarantees and funding are strengthening banks’ risk capacity, while tighter underwriting reflects ongoing war-related uncertainty. Card lending is a key growth driver, supported by stable interest rates and expanding fintech ecosystems. At the same time, BNPL is spreading across retail and services, embedding instalment finance into everyday purchas

Turkey’s consumer credit market saw slower growth in 2025 as economic uncertainty and elevated prices kept borrowers cautious. Credit card lending continued to expand, driven by the increasing adoption of cashless transactions and rising consumer confidence in digital payments, while growth in durables lending was fuelled by consumers choosing to spread the cost of big-ticket purchases over time instead of paying upfront. Meanwhile, Buy Now, Pay Later (BNPL) loans benefited from technological ad

Consumer credit in Taiwan continued to expand in 2025, driven by rising consumer confidence, vehicle tax incentives, and accessible lending from banks and fintech providers. Card lending led growth, supported by digital payments, e-commerce, and high usage amongst younger consumers. BNPL adoption accelerated through embedded finance and mobile apps, offering flexible, AI-driven lending. Looking ahead, stable economic conditions, fintech innovation, and AI-enabled digital banks are expected to su

Morocco’s consumer credit industry continues to expand, supported by stable economic conditions, digitalisation, and regulatory reforms that are expanding access and promoting financial inclusion. Card lending remains the most dynamic category, while BNPL solutions, led by fintechs like Alya, are gaining traction with flexible, interest-free instalments. New microfinance and credit bureau regulations are improving transparency and enabling more accurate risk assessments. Over the forecast period

Consumer credit in Hungary in 2025 was supported by state-backed programmes such as Munkáshitel and Babaváró, which enhanced access to housing and personal loans. Durables lending was the key growth driver, driven by electronics, home appliances, and embedded financing, aided by lower APRs and short-term 0% loans. Rapid digitalisation and fintech solutions, including BNPL platforms, are reshaping borrowing experiences, while neobanks such as Revolut could further disrupt the market. BNPL regulat

In 2025, Greek consumers showed greater financial discipline, prioritising debt repayment amid economic uncertainty, supported by cautious bank policies and digital loan management tools. Credit cards led growth, boosted by contactless payments, digital wallets, and revolving credit features, while loyalty programmes like Piraeus Bank University Visa and Olympiacos F.C. Visa Gold increased engagement across diverse consumer groups. Alternative lending models, including peer-to-peer platforms, ex

Consumer outstanding balance increased only slightly in 2025, but rising household debt and strong bank profits triggered public backlash, leading the Bank of Israel to require Bank Hapoalim and Bank Leumi to return a portion of their profits to fund a financial relief programme. Banks continued to dominate lending despite growing non-bank competition, while BNPL solutions gained traction, particularly in e-commerce.

Consumer credit in the Netherlands saw continued activity across targeted lending categories in 2025. Home loans continued to support sustainability-focused renovations, while auto financing benefited with electric vehicle purchases and associated higher upfront costs. Education lending remained a key component of consumer credit, influenced by tuition levels, living expenses, and repayment structures of government-backed loans. BNPL emerged as a notable non-traditional credit method, particular

Consumer credit outstanding balance increased in Egypt in 2025, though growth slowed compared to 2024 as inflation and high living costs pressured households. Banks focused on low-risk, salary-based lending, promoting pre-approved digital loans to verified-income borrowers, while unsecured lending remained subdued. Buy Now Pay Later (BNPL) expanded gradually, but remained a niche category in 2025 as the high inflation environment meant that consumers often preferred fixed monthly loans over stag

Consumer credit maintained positive growth in Vietnam in 2025, with healthy growth rates in outstanding balance values and gross lending values, at levels slightly higher than seen in 2024. Growth is supported by more people turning to borrowing to pay for big-ticket purchases, using credit cards and Buy Now Pay Later (BNPL) options.

Consumer credit saw growth in both outstanding balance values and gross lending values in Saudi Arabia in 2025, supported by strong consumer spending backed by economic progression and various initiative to enhance household income in the Kingdom.

Consumer credit outstanding balance values rebounded to positive growth in Thailand in 2025, following a negative dip seen in 2024. Meanwhile, consumer credit gross lending values maintained positive growth, albeit at a lower rate of growth compared to the previous year. That said, gross lending growth is expected to rebound over the forecast period.

In the last years, instalment-based purchasing has emerged as a vital consumption driver in Argentina, largely fuelled by government-subsidised interest rates. This resulted in healthy growth for consumer credit in 2025.

Indonesia’s consumer credit outstanding balance increased in 2025, supported by five Bank Indonesia (BI) rate cuts that encouraged consumer goods purchases and refinancing, alongside stronger subsidised housing lending through the prosperous mortgage programme, which reached a record high since 2022. Growth was partly held back by vehicle finance headwinds, with car purchase credit slowing and uncertainty over the electric motorcycle subsidy programme limiting upside. Durables lending was the mo

In 2025, consumer credit in the Philippines saw robust growth, fueled by lower interest rates, easing inflation, and strong consumer demand, with credit cards and personal loans driving the expansion, while auto loans and durable goods financing remained steady. Despite these gains, many Filipinos still prefer informal lending due to persistent stigma around formal debt, prompting the Bangko Sentral ng Pilipinas (BSP) to intensify financial education initiatives to promote formal credit use. Cre

Consumer credit outstanding balance values increased in Italy in 2025, along with gross lending, as consumer demand showed renewed confidence, thanks to increased disposable income, lower inflation, and lower interest rates. The positive trend was seen across subcategories, including card lending, auto lending, durables lending, education lending, home lending, and other personal lending. Auto lending benefited from an increase in used-car registrations, driven by reduced new-car availability, t

The increased confidence of banks, due to a positive IMF assessment and the slower growth of delinquency rates, has led to an increase in the supply of credit. There has also been an increase in the intention to purchase cars, boosting demand for auto lending. However, changes in immigration policy are likely to affect the customer base for consumer credit.

Malaysia’s consumer credit outstanding increased in 2025, driven by broad-based household borrowing across housing loans, auto lending and unsecured personal and credit card debt, while stable debt-to-income and debt service ratios and low non-performing loans pointed to resilient repayment capacity. Strong liquidity and capital positions kept banks willing to lend, with fintech also contributing as BNPL activity surged. Card lending was the most dynamic area as e-payment usage accelerated, POS