Personal loan drawdowns jump by 20% year on year in Q2 2022 – BPFI Personal Loans Report
Thursday 18th August 2022 – Banking & Payments Federation Ireland (BPFI) has today published the BPFI Personal Loans Report for Q2 2022 showing continued strong growth in personal loans activity on the same time last year.
The report shows the value of personal loan drawdowns increased by 20.1% year on year in Q2 2022 to €414 million. This was the most since the data series began in 2020. On an annualised basis, €1,539 million was drawn down in the twelve months ending June 2022, some 4.7% more than in the twelve months ending March 2022.
Looking at the various loan types, some €141 million was drawn down in home improvement loans in Q2 2022, 12.7% more than in the same period of 2021. This was the highest level since the data series began in 2020. The value of personal loan drawdowns for car or auto finance meanwhile fell by 0.4% year on year to €128 million while the value of loans for other purposes which includes loans for education, holidays and weddings increased by 59.2% year on year to €146 million.
Personal loan report data from Q1 2020 onwards is available in Microsoft Excel format (*.xls) in the BPFI Personal Loan Report data series. Download the BPFI Personal Loan Report time series here.
Note: Banking & Payments Federation Ireland (BPFI) represents the banking, payments and fintech sector in Ireland. Together with its affiliates, the Federation of International Banks in Ireland and the Fintech & Payments Association of Ireland, BPFI has 100 member institutions and associates, including licensed domestic and foreign banks and institutions operating in the financial marketplace here.
Contact: Jillian Heffernan, Head of Communications, email@example.com 087 9016880