Declining credit volume on online platforms in 2023
Published: Thursday, Oct 24th 2024, 17:30
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In 2023, fewer loans were brokered via online platforms in Switzerland. The volume of new loans brokered via marketplace lending platforms fell by 11% compared to 2022 to CHF 18.6 billion.
These are the findings of a study published on Thursday by Lucerne University of Applied Sciences and Arts (HSLU) and the Swiss Marketplace Lending Association (SMLA). However, according to the study, the volume has grown by a total of 240 percent in the last five years.
At 13.2 billion Swiss francs, online loans and bonds for large companies, SMEs and public corporations account for around 70% of the total volume. According to the report, the volume of new loans fell by 7 percent in 2023. However, online loans for public corporations have become an important pillar of financing. The market share in this area is estimated at around 15 percent.
One fifth fewer mortgages
The mortgage brokerage business via online platforms declined for the first time (-19%). This was mainly due to the changed interest rate environment and the strategic adjustments made by individual platforms.
Individual mortgage brokers have exited the traditional private client market or adapted their business model. The experts expect stagnation or even a slight decline in 2024. In the long term, however, the outlook for the segment is positive.
The crowdlending segment also suffered a decline of one fifth. According to the report, the crowdlending business can look back on difficult years: the Covid-19 pandemic was followed by economic uncertainty and a rapid rise in interest rates. Despite isolated loan defaults, investors have achieved an average return of 3% over the past eight years after deducting losses and costs.
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