New business in Italy’s specialised credit market – which
includes leasing, factoring and consumer credit – declined by
almost 15 percent in the first six months of 2009.
Trade associations Assilea, Assifact and Assofin – which
respectively represent the leasing, factoring, and real estate and
consumer credit sectors – said that the combined new business
in the first six months of 2009 was €107 billion, a 14.9 percent
drop compared with the same period last year.
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As of June 30, 2009 the combined outstanding was €410 billion,
which is still a 4.4 percent increase compared to the same figure
at the end of June 2008.
The associations said that the cutback mainly depended on the
drop in investments (down by 14.2 percent) and in industrial
activity (with a 20 percent reduction in production and
orders).
In terms of customers, specialised credit for families (through
real estate and consumer credit) represented over 62 percent of the
total outstanding, while the percentage for enterprises – which
mainly refers to leasing and factoring agreements –dropped to less
than 33 percent.
Antonio Fabrizio
