The French Association of Financial Companies (ASF), which brings together many credit players, warned again on Monday of the “deterioration of the situation of businesses and households” in its quarterly survey.
If the demand for cash loans, useful for financing household projects, remains strong, the quality of demand is eroding with, for example, riskier files, notes the ASF.
Furthermore, the first unpaid debts are increasing, as is the number of customers registered in the national personal loan repayment incidents file (FICP), i.e. after three unpaid debts.
For the period from January to the end of September, the number of overindebtedness files increased by 6% compared to a year earlier, the Banque de France announced on October 17, describing this increase as moderate.
On the business side, the ASF also notes an increase in first arrears as well as requests for repayment deferral or adjustments for loans financing investments (furniture leasing), as well as an increase in amicable procedures and loan defaults. businesses.
The number of business failures is expected to increase by 36% this year in France, after 49% in 2022, a strong catch-up after the support measures during Covid, then stabilize in 2024 at 57,000, according to a study published on October 18 by Allianz Trade.
The Banque de France also sees this trend as a normalization.
The situation remains complicated for the consumer credit market, summarized the same ASF on October 16, in its data table finalized at the end of August, the seventh consecutive month of drop in production of specialized establishments.
The ASF brings together some 260 companies in consumer credit, furniture and real estate leasing, factoring and other associated services, such as guaranteeing. It claims almost 20% of credits to the private sector.
From the first edition of its weak signals observatory on October 26, 2022, the ASF noted increased risks of unpaid debts from its customers.