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The Profitability of the Consumer Credit Industry

In: Consumer Credit in Europe

Author

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  • Daniela Vandone

    (Department of Economics, Business and Statistics)

Abstract

The strong growth recorded by the consumer credit sector over recent years has undoubtedly been driven by rising demand on the part of individuals and households for unsecured debt solutions. Nevertheless, the supply side has also played a significant role in this process: consumer credit financial intermediaries have shown the ability to respond to market needs by developing and distributing innovative products and raising service standard levels. These moves have been accompanied by attempts to optimise asset portfolio sizes in order both to generate the economies of scale necessary for the containment of the administrative and management costs associated with the supply of large numbers of small loans as well as to create adequately diversified loan portfolios. In this chapter, we analyse the consumer credit industry with a specific focus on the types of players, their lending policies and their profitability. To valuate the sector's profitability, data from the financial statements of a sample of French, German, Italian and Spanish consumer credit companies will be examined.

Suggested Citation

  • Daniela Vandone, 2009. "The Profitability of the Consumer Credit Industry," Contributions to Economics, in: Consumer Credit in Europe, chapter 0, pages 45-68, Springer.
    • Handle: RePEc:spr:conchp:978-3-7908-2101-7_4
    DOI: 10.1007/978-3-7908-2101-7_4
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