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Single-digit growth in consumer finance in Q1 2017 PDF Print E-mail
Friday, 12 May 2017
New figures released today by the Finance & Leasing Association (FLA) show growth of 10% in consumer finance new business in March, compared with the same month last year, and 6% growth in Q1 2017 as a whole.

Credit card and personal loan new business together grew in March by 7%, compared with the same month in the previous year, while retail store and online credit new business increased by 5%. Second charge mortgage new business grew 8% by value and 15% by volume over the same period.

Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said: “Consumer finance new business provided by FLA members grew in line with expectations in the first quarter of 2017. We expect modest single-digit growth in new consumer credit in 2017 as a whole.”

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