Demand for loans
A survey that can be considered one of the most reliable thermometers of the crisis. From 2005 to 2011, according to what the Banker Taly calls ‘ occasional paper ‘, or a dossier specifically dedicated to a financial topic, the Italians who have contracted debts over € 75,000 (or the threshold considered ‘relevant’ by the analysts of the sector), have literally doubled.
Within six years, the weight of the financial depression was therefore felt in a tangible way on the shoulders of the Italians, who thus relied more and more on credit institutions. In the last three years, the further worsening of the general economic situation has slowed down this phenomenon slightly, as the demand for loans fell both on the part of businesses and private citizens.
The Banker Taly study, called ” The financial vulnerability: an analysis by income class “, clearly showed how the growth of the capital lent by the banks was heterogeneous, with the division between social classes substantially respected, and the citizens with a income above the national average that holds the majority share of the debt. A growth in the number of Italians indebted for more than 75,000 euros, however, inevitably also means a gradual decline in credit reliability. The customers of banks and finance companies are increasingly struggling to get back the amounts lent by credit institutions and the quality of credit itself has deteriorated, in turn affecting the entire system.
The risks in fact increase exponentially, and the percentage of citizens indebted beyond the threshold considered at risk of € 75,000 has risen to 19% in 2011. If the request for loans covers all social classes, inevitably the poorest are the ones to go to suffering, with the so-called poorer quintile which increases the risk range of customers who do not repay the debt by the agreed date, or who in several cases cannot get the credit institution back into the sum loaned.
The reversal of the trend of the most recent period, in which the banks reduced the amounts lent to the poorest sections of the population, which had less access to credit in the face of a decrease in presentable guarantees, put a brake on this phenomenon, but Banker Taly surveys launch an alarm bell. If it is collected from the recovery forecasts, it will mainly depend on the improvement in the conditions of the labor market, thanks to which guarantees can be presented again that can improve the creditworthiness of Italians.