Introduction to applying for credit
In the first half of 2024, the credit situation in Italy showed signs of stability, with demand that remained almost unchanged. However, regional dynamics revealed significant differences, with an increase in demands in the North and the South, while the Center recorded a contraction. This article will explore emerging trends in the credit market, highlighting bank policies and the needs of businesses and families
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Requests for loans and investments
The northern and southern regions have seen an increase in requests for loans, especially for debt restructuring. This phenomenon is indicative of a growing need to refinance existing liabilities, while requests for financing for working capital have declined. Banks, as highlighted by the survey conducted by the Bank of Italy, have adopted a more cautious approach, requiring higher guarantees and raising the minimum rating for access to credit. This attitude reflects an increased perception of risk, especially in sectors such as construction and manufacturing
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Application for mortgages and home loans
An interesting aspect that emerged in the first half of 2024 is the increase in demand for loans for the purchase of homes. After a phase of contraction, families have started to apply for mortgages again, with a more marked increase in the North-West and in the South. Mortgage supply policies have remained stable, but banks have shown greater selectivity, requiring stronger collateral for loans. Despite the decrease in the average spreads applied, the positions considered riskier did not benefit from this trend, highlighting persistent caution in the real estate sector
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Decline in demand for deposits and financial investments
Another significant aspect is the continued decline in household demand for bank deposits, which already declined in 2023. This trend has led to greater interest in higher-paying financial investments, such as bonds and managed savings products. Households showed a growing preference for government bonds and equities, while requests for insurance policies increased. This change in behavior reflects a search for higher returns in an environment of low interest rates
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