Market Research Report
Consumer Lending in Nigeria
|Published by||Euromonitor International||Product code||975274|
|Published||Content info||15 Pages
Delivery time: 1-2 business days
|Consumer Lending in Nigeria|
|Published: December 2, 2020||Content info: 15 Pages||
The impact of COVID-19 on consumer lending in Nigeria cannot be overstated as the local economy was impacted by recession following various lockdown measures, resulting in rising unemployment and decreasing disposable incomes. Mainstream financial service providers were already apprehensive about lending at the beginning of 2020, with most banks not meeting the 65% loan-to-deposit ratio with various sanctions being imposed by the Central Bank of Nigeria.
Euromonitor International's Consumer Lending in Nigeria report establishes the size and structure of the market for ATMs cards, smart cards, credit cards, debit cards, charge cards, pre-paid cards and store cards. It looks at key players in the market (issuers and operators), number of cards in circulation, numbers transactions and value of transactions. It offers strategic analysis of sector forecasts and trends to watch.
Product coverage: Consumer Credit, Mortgages/Housing.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
List OF CONTENTS AND TABLES
COVID-19 impact on consumer lending
COVID-19 country impact
Despite sanctions, many lenders unable to maintain LDR stipulated by Central Bank of Nigeria
Financially-restricted consumers increasingly turn to alternative lenders and fintech players for loans
Ongoing weak performance for mortgages/housing in terms of gross lending
What next for consumer lending?
GLOBAL MACROECONOMIC ENVIRONMENT
GLOBAL INDUSTRY ENVIRONMENT
KEY DATA FINDINGS
Pandemic forces Nigerians to turn to consumer credit due to decreasing household incomes, but banks grow increasingly cautious
Dominant other personal lending is strongest performer in Nigerian consumer credit
Fintechs likely to push mainstream financial service providers to explore more innovative approach to lending
RECOVERY AND OPPORTUNITIES
Other personal lending to drive positive performance predicted for consumer credit over forecast period as outlook for economy improves
Card lending also set to gain growth momentum as next viable form of consumer credit in Nigeria
Further potential for mainstream banks to expand to compete with fintech offers