Consumer credit outstanding balance is expected to grow at a slower rate (constant 2023 prices) than consumer credit gross lending in the early forecast period, before seeing slightly faster growth over the remainder of the forecast period. The introduction of various moratoriums to help ease the burden of consumer’s loan repayments in the wake of Coronavirus (COVID-19) heightened outstanding balance rates in various consumer credit categories in Malaysia.
There are strong prospects for hire purchase loans during the forecast period, along with a positive outlook in vehicles sales. The Malaysian Automotive Association (MAA) revised its car sales forecast upwards at the end of 2023, with an anticipated upward revision in 2024 as well.
Buy Now Pay Later (BNPL) is a key and emerging trend in consumer credit in Malaysia. In this vein, the gradual increase in the number of BNPL players and services and facilities creates a new competitive force in opposition to consumer credit, dampening the growth potential in personal loans.
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Understand the latest market trends and future growth opportunities for the Consumer Credit industry in Malaysia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Credit industry in Malaysia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Consumer Credit
Non-mortgage consumer debt extended to individuals for personal or household use including installment loans and credit cards. Examples of consumer credit include auto lending, card lending, durables lending, education lending, home lending and other personal loans. Consumer credit includes both revolving and non-revolving credit.
See All of Our DefinitionsThis report originates from Passport, our Consumer Credit research and analysis database.
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