Market Overview

2014 Personal Loans in Ireland Market Research Report Share

2014 Personal Loans in Ireland Market Research Report Share

Most up-to-date research on "Personal Loans - Ireland - September 2014" to its huge collection of research reports.

As a result of the financial crisis and ensuing economic downturn, there has been a dramatic decline both in financial institutions’ willingness and ability to lend and consumers’ willingness and capacity to borrow. With economic recovery now under way, it remains to be seen whether banks and consumers alike will revert to their pre-recessionary lending and borrowing behaviour.

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Table of Content


Key themes in the report
Data sources

Executive Summary

The market
Value of outstanding loans down €14 billion between 2009 and 2014
Figure 1: Outstanding loans to households, consumer credit and other loans, IoI, NI & RoI, 2009-19
Figure 2: Indexed value of outstanding consumer credit and other loans, NI and RoI, 2009-19
Market factors
NI and RoI economies improving
Consumers regaining confidence and optimism for future
Cost of borrowing relatively low as a result of low interest rates
Half of Irish consumers have no personal loan products outstanding
Only minority of consumers are committed, organised and regular savers
The consumer
Just over half of consumers owe money on a personal loan product
Figure 3: Type of personal loan products that consumers currently owe money on, RoI and NI, July 2014
Majority of personal loan products taken for one-off purchases or major expenses
Figure 4: Reason that consumers took out last personal loan product, RoI and NI, July 2014
RoI consumers more open to borrowing in future than NI consumers
Figure 5: Whether consumers would take out a loan in the future for selected purposes, RoI and NI, July 2014
RoI consumers more likely to return to the same lenders than NI
Figure 6: Agreement with statements relating to the last loan consumers took out, NI and RoI, July 2014
What we think

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Issues and Insights

What type of personal loan products do consumers own?
The facts
The implications
Why do consumers borrow? And what would motivate them to borrow in the future?
The facts
The implications
Where do consumers get personal loan products from?
The facts
The implications

Trend Application

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Market Overview

Key points
Economic recovery now all but assured in RoI
Figure 7: Economic outlook, annual % change, RoI, 2012-15
Figure 8: Estimated unemployment levels, 2013-15
Economic growth of 2.3% expected for NI in 2014
Figure 9: Economic outlook, NI, 2012-15
Irish consumer sentiment more upbeat than in recent years
Figure 10: Consumer Sentiment, RoI, September 2010-August 2014
Figure 11: Consumer confidence, NI, September 2008-June 2014
Most consumers describe finances as either ‘healthy’ or ‘OK’
Figure 12: How consumers rate their current financial situation, NI and RoI, July 2014
Debt write-offs down in NI, but set to increase in RoI
Low interest rate environment keeping cost of borrowing down
Figure 13: Bank base interest rate, %, European Central Bank & Bank of England, 2008-14
Cost of borrowing creeping upwards for RoI consumers

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