Home » Specialized credit: after -11% in 2020, in the first 5 months it restarts driven by mortgages (+ 44%)

Specialized credit: after -11% in 2020, in the first 5 months it restarts driven by mortgages (+ 44%)

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After a particularly negative 2020, characterized by the health emergency linked to Covid, the aggregate data on specialized credit signal a return to the levels before the pandemic. From the annual analysis of the aggregate data carried out by the three trade associations, Assifact, Assilea and Assofin, to which banks and financial intermediaries in the factoring, leasing and household credit sectors belong, it emerges that in 2020 the amount of credit flows specialized loans amounted to 326.3 billion, down 10.9% on 2019, “while continuing to represent a sustained percentage of GDP equal to 19.8%” highlights the research.

In the first 5 months of 2021, however, the new flows show a slight increase of 0.2% compared to the same period of 2019. However, it must be considered that, in the period, the trends are very heterogeneous for the different sectors: real estate loans at households, which had already recorded + 15.5% in 2020, recorded strong growth of 44%, while leasing volumes appeared to be slightly down (-0.8% after -18.1% in 2020) and factoring (-1.9% after -10.8%), and consumer credit still declining (-14.1% after -22.9% in 2020).

“In this context – reads the note presenting the analysis of Assifact, Assilea and Assofin – together with the measures adopted by the Government aimed at countering the emergency, banks and financial intermediaries operating in specialized credit have promoted various initiatives to support of households and businesses, including private sector moratoriums and bilateral agreements between individual debtors and intermediaries ».

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