The Limited Times

Now you can see non-English news...

The consumer credit sector in turmoil

2023-01-30T18:53:19.608Z


INVESTIGATION – Penalized by rising rates and inflation, BNP Paribas and Oney Bank are preparing to reduce the airfoil.


The consumer credit sector has entered a zone of turbulence.

Rising interest rates and inflation weigh on households, which are less inclined to go into debt, and put credit distributors under pressure.

At the end of December, BNP Paribas indicated to its social partners that it was working on a voluntary departure plan in its "personal finance" branch, including in particular the Cetelem brand.

Restructuring projects are also under study at Oney Bank, the joint subsidiary of BPCE and Auchan.

Leader in split payment in France, the establishment also derives its income from traditional consumer credit at points of sale (personal loans and revolving credits).

To discover

  • Pension reform: calculate the age at which you will finally leave

It would be in the red in 2022.

"Like many other players in the sector, we are affected by the conjunction of several external factors: high inflation and the increase in refinancing rates"

, recently explained to AFP a door - word of Oney Bank.

For…

This article is for subscribers only.

You have 81% left to discover.

Cultivating your freedom is cultivating your curiosity.

Keep reading your article for €0.99 for the first month

I ENJOY IT

Already subscribed?

Login

Source: lefigaro

All business articles on 2023-01-30

You may like

Business 2024-02-20T19:02:12.962Z
Tech/Game 2024-03-09T05:19:12.083Z
Life/Entertain 2024-03-26T09:04:47.110Z

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.