Consumer loans in Slovakia on record-high with Erste’s Slovenská sporiteľňa in the lead
It is no longer just the Christmas season when the demand for consumer loans is high. People want to borrow money throughout the whole year. In the first four months of 2015, Slovaks borrowed a total amount of EUR 766 million from all Slovak banks together, which is a yearly increase by almost one quarter (22%). In April, almost every second Euro was borrowed from Slovenská sporiteľňa, raising the market share of Erste Group´s Slovak subsidiary to 47% in provided consumer loans and strengthening its position as the leading retail bank in Slovakia. The main reason of the great interest in consumer loans is the effort to sort out expensive loans or instalment purchases as well as to renovate houses or flats. “The fact that people choose Slovenská sporiteľňa to get funding confirms that they can find fair conditions as well as good lending advisory services in our branches,“ said Igor Lehoťan, Head of the Retail Loans Department of Slovenská sporiteľňa.
Compared to 2012, the increase is even more striking as the volume of provided consumer loans in Slovakia has doubled. The increase of consumer loans is also a result of the historically low interest rate environment which is expected to stay favourable for consumer loans throughout 2015.
It is no longer just the Christmas season when the demand for consumer loans is high. People want to borrow money throughout the whole year. In the first four months of 2015, Slovaks borrowed a total amount of EUR 766 million from all Slovak banks together, which is a yearly increase by almost one quarter (22%). In April, almost every second Euro was borrowed from Slovenská sporiteľňa, raising the market share of Erste Group´s Slovak subsidiary to 47% in provided consumer loans and strengthening its position as the leading retail bank in Slovakia. The main reason of the great interest in consumer loans is the effort to sort out expensive loans or instalment purchases as well as to renovate houses or flats. “The fact that people choose Slovenská sporiteľňa to get funding confirms that they can find fair conditions as well as good lending advisory services in our branches,“ said Igor Lehoťan, Head of the Retail Loans Department of Slovenská sporiteľňa.
Compared to 2012, the increase is even more striking as the volume of provided consumer loans in Slovakia has doubled. The increase of consumer loans is also a result of the historically low interest rate environment which is expected to stay favourable for consumer loans throughout 2015.
