Bologna (Italy), September, 2021

CRIF Credit Map: increase in Italians taking out mortgages or loans

In the first half of 2021, 42.7% of the adult population in Italy had at least one active credit contract. Favorable terms and a record low cost of money explain this increase in borrowers, which according to a MisterCredit-CRIF (CRIF Credit Map) study grew by +3.6% compared to the same period of the previous year.

Debt sustainability remains high, with the default rate for retail credit standing at 1.2% in March 2021, the lowest point in recent years in part thanks to income support measures and payment holidays, which were activated on 2.6% of installment credit lines.

CRIF Credit Map shows that the average monthly repayment on a per capita level was € 320 (-3.9% compared to a year ago). Residual exposure – the sum of the outstanding amounts per capita to repay existing credit lines – is € 32,264 (more or less stable compared to the previous CRIF survey, but significantly down on previous years).

The analysis also highlights a lower percentage of mortgages within the retail credit portfolio (21.2% of the total active credit lines). The most widespread type of credit line in the Italian portfolio is consumer credit for the purchase of goods and services (such as cars, motorcycles, electronics and household appliances, furnishings, travel, etc.). This type of credit accounts for 50.4% of the total. The share of personal loans, on the other hand, is 28.4%, down on previous levels.