Swiss banks reject one in three applications for credit
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Swiss banks reject one in three applications for credit
In 2024, 35.5% of consumer credit applications were rejected by lending institutions due to solvency problems.
This is a record high and is significantly higher than the previous year’s rejection rate of 30.8%, says the comparison portal Kreditvergleich.ch. The analysis is based on data from the Swiss central registry for credit information.
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At the same time, the overall volume of outstanding consumer credit contracts has decreased significantly, a clear sign that the more restrictive lending practice is having a real impact on the market, a statement said.
“With an all-time high in rejected credit applications and declining volumes, it is clear that in 2024 the market has not only become smaller, but also more selective,” commented Joachim Kölmel, an expert at Kreditvergleich.ch, quoted in the note.
Adapted from Italian by DeepL/ac
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