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Time: 0:0

Consumer finance growth drives recovery

09 May, 2014

By: Ryan Bembridge

category: Commercial, Features, Residential, Secured, Short Term, Unsecured

0

New consumer finance has grown by 19% annually to March, the Finance and Leasing Association has revealed.

Growth in new business extended beyond the point-of-sale market into credit card finance and personal loans, with a year-on-year increase of 12% in March.

Much of the growth has taken place in Q1 2014, as new consumer finance flourished by 17% while personal loans and credit cards saw a 10% increase.

Geraldine Kilkelly, head of research and chief economist at the FLA, said: “First quarter results show strong performances across the consumer finance sector. 

“Responsibly-provided credit has supported the economic recovery and will be an important factor in sustaining it as household incomes improve.” 


Tags: Finance and Leasing, Finance and Leasing Association, FLA, lending, loan, loans

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