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New challenges, new opportunities
Overview
In terms of household indebtedness to financial institutions, there is still a huge gap between Central and Eastern European countries and their Western neighbours. In all CEE countries, the continuing boom in consumer finance remains one of the main growth engines for the financial sector.
• The past - Traditionally, the culture of people in the CEE has meant that they haven’t borrowed large amounts of money in the past.
• The present - This trend is now changing - people are now willing to borrow more and more. At the same time, rising income levels has allowed households to increase their outstanding debt. Meanwhile, the proactive lending policies of retail banks and consumer finance specialists are fighting for a share in this very competitive market.
• The future - As a result, the retail business is flourishing. Banks now need to catch this trend and take full advantages of the opportunities available.
Key issues
During the event, Efma will be presenting the findings of the new ‘Consumer Finance in CEE’ report. Some of the issues and challenges tackled by the conference will include:
• Assessing the situation - Analysing the key growth drivers in consumer finance in emerging markets; and looking at cultural aspects and consumer behaviour with the aim of improving the targeting of different cultural and social groups.
• Looking at strategies - Will consumer finance specialists or retail banks prevail in this exciting market? The conference will also look at the reshaping of credit risk policy and ways of improving the credit approval process and increasing distribution efficiency.
• Grasping the opportunities - The ability to exploit new opportunities will require the identification of market gaps and product innovation in the CEE region. It will also involve building a successful business model. The sales approach and channels used will be important considerations, as well as the issue of risk management.
- REPORT
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"Consumer finance in CEE" report 2008
The report will be published in October 2008 and the findings will be introduced during the event.
Endorsed by KBC, Efma and Roland Berger have jointly put their efforts together for the first time in order to conduct a survey on consumer finance markets activities in Central and Eastern Countries (CEE).
This report aims to provide a new, regional and quantitative insight into consumer finance, which will give a comprehensive overview on market developments and business models in the CEE region. With a comparison of a wide range of players in consumer finance it will describe different growth strategies with sustainable further revenue streams and analyse what future winning models will fit to the CEE markets. To make a complex view on this subject, it will examine the cultural aspects and consumer behaviour in respect of the future market development in the fast-growing economies.
