Czech household savings fall by CZK 26 billion in March 2022
CRIF-Czech Credit Bureau published a press release containing the trends in the Czech credit market coming from Client Information Bank Register and Non-Banking Client Information Register data for Q1 2022.
The volume of total debt of individuals exceeded 3 trillion crowns in the Czech Republic for the first time in history. It increased by a record 407 billion crowns year-on-year.
Other important trends in the Czech credit market are as follows:
- Continued high interest in mortgages while the volume of long-term debt increased by almost 20% year-on-year by CZK 383 billion
- Long-term debts in Prague and the South Moravian Region grew the fastest
- The volume of short-term debt increased by 24 billion (by 5%).
- The volume of high-risk debt decreased by 1.8 billion (-6%) year-on-year to 28.1 billion crowns
- The number of people not repaying long-term debt decreased by 2,606 (-20%) to 10,644
- The number of people not repaying short-term debt decreased by 6,842 (-4%) to 176,022
The press release was published by several important Czech media outlets. Jiří Rajl (Director of the Non-Banking Client Information Register) was interviewed on Czech Television and the press release was also broadcast on Czech Radio, the largest internet publishers Seznam.cz and idnes.cz, and the largest printed newspaper Právo. A total of 22 Czech media outlets published the press release, which strengthened the brand awareness of CRIF and also the Client Information Bank Register and Non-Banking Client Information Register.