IntroductionGreece has one of the fastest growing consumer credit markets in Europe.
This report looks at how the consumer credit market in Greece has developed as it has grown in size.
Covering market size, trend analysis, market forecasts, competitor market shares and key regulatory and competitor developments in the market.ScopeCovers the consumer credit market (not including any loans secured on property)Provides market sizing data in terms of gross advances and balances outstandingProvides competitor market share for the top five players in terms of balances outstanding; a short profile of the top players is also providedProvides competitor market share for the top five credit card lenders in terms of balances outstandingHighlightsThe consumer credit market in Greece has accounted for a higher than normal share of the total retail lending market partly because of an underdeveloped mortgage market, but also because historically high interest rates have encouraged shorter term consumer credit borrowing over long term secured borrowing.The slower growth of the POS market compared to the total consumer credit market is partly due to Greeks becoming more aware of different consumer credit products.
This means that rather than taking the first product they are offered, Greeks now investigate and research different products to find the product that is most suited to their needs.When the Bank of Greece revoked maximum limits on consumer credit in 2004, Greek banks started to offer a wider variety of consumer and personal loans to private individuals.
The change in regulation led to Greek banks becoming more and more innovative in what is a competitive market.Reasons to PurchaseLearn how the Greek consumer credit market has developed over the last five yearsUnderstand the recent developments in the market in terms of regulation, competition and product innovationsFind out Datamonitor's opinion on the future performance of the Greek consumer credit market over the next five years and its future prospects