Milano – One in two Lombards has a debt. The monthly installment media to be returned to the institutions credit is 319 euros. In 45% of cases, these are financing contracts aimed at purchasing a good (car, furniture, household appliances) or travel, while personal loans requested represent 26% of the total. The mortgage installment weighs on 28.9%. Mister Credit – the area of Crif which deals with the development of educational solutions and tools for consumers – presented the update relating to the first half of 2024 of the “Credit Map“, the study on the use of installment credit by Italians.
From the analysis of the data available in Eurisc, the credit information system managed by Crif, it emerges that in the first six months of the year the number of those who have at least one active installment credit contract has further expanded. More loans, but with lower installments to be able to save family budgets. The national figure – 52.7% of the adult population (+2.6% compared to 2023) – is further strengthened in Lombardy where 53.5% of residents live with an installment to repay, the ninth region by diffusion. The average debt (the amount still to be repaid) is 44,835 euros, the second highest after Trentino Alto-Adige.
The province with the highest monthly rate is Sondrio: 377 euros. Milan follows with 361 euros. Valtellina and the area that gravitates around the regional capital are also the two territories where the incidence of mortgages exceeds 30%. A figure that is reflected in the amounts. In fact, the mortgage tends to have a higher rate among the forms of credit requests that can be presented to banks. Only Monza highlights a different dynamic: the average monthly payment is 326 euros despite mortgages representing 31.1% of active credit lines. In this case, more than the lower value of the homes, the attempt to lower the payment by increasing the erosion of savings on the amount paid without financing at the time of purchasing the house has an impact. Como, Varese and Pavia are instead the three provinces where the share of consumer financing is highest: people spend with the help of a loan. A Varese (42.2%) shows the most consistent use of personal loans, not linked to the purchase of a good.
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Debt in Milano: A Growing Concern
Milano, the financial hub of Italy, is facing a growing concern – debt. According to a recent study by Mister Credit, an area of Crif that develops educational solutions and tools for consumers, one in two Lombards has a debt, with the average debt amounting to 44,835 euros, the second highest after Trentino Alto-Adige.
The Monthly Installment Burden
The study, which analyzed data from Eurisc, the credit information system managed by Crif, revealed that the monthly installment median to be returned to institutions is 319 euros. This is a significant burden for many families, with 45% of financing contracts aimed at purchasing goods or traveling, and 26% representing personal loans. Mortgage installments account for a substantial 28.9% of the total.
Regional Variations
When examining the regional breakdown, Sondrio emerges as the province with the highest monthly rate, with an average of 377 euros. Milan follows closely with 361 euros. Valtellina and the area surrounding the regional capital are also among the territories where the incidence of mortgages exceeds 30%. This trend is reflected in the amounts, with mortgage requests having a higher rate among credit requests presented to banks.
Debt in Milan: A Growing Trend
The study highlights a growing trend in debt in Milano and Lombardy. In the first six months of 2024, the number of those with at least one active installment credit contract has expanded, with 53.5% of residents living with an installment to repay. This figure is further strengthened in Lombardy, where 53.5% of residents have an installment to repay, ranking ninth in terms of regional diffusion.
Credit Challenges in Milan
The City of Milan faces credit challenges, including a high debt stock, limited revenue flexibility, and sizeable contingent liabilities [[2]]. This highlights the need for effective debt management and credit education tools, such as those provided by Mister Credit.
Private Debt in Italy
The private debt market in Italy is significant, with a growing trend towards alternative financing options. According to a report by AIFI, in collaboration with Deloitte, the private debt market in Italy has seen substantial growth in 2023 [[3]].
Davide Campari-Milano’s Debt Profile
In related news, Davide Campari-Milano, a leading company in the beverage industry, has a debt to equity ratio of 0.7175 as of June 30, 2020, highlighting the importance of debt management for companies operating in the region [[1]].
debt is a significant concern in Milano, with a growing trend towards installment credit and mortgage installments. Effective debt management and credit education tools are essential for individuals and companies operating in the region. By understanding the regional debt landscape, we can work towards creating more sustainable financial practices and mitigating the burden of debt on families and businesses.
Milan GDP
Debt in Milano: A Growing Concern
Milano, the financial hub of Italy, is facing a growing concern – debt. According to a recent study by Mister Credit, an area of Crif that develops educational solutions and tools for consumers, one in two Lombards has a debt, with the average debt amounting to 44,835 euros, the second highest after Trentino Alto-Adige.
The Monthly Installment Burden
The study, which analyzed data from Eurisc, the credit information system managed by Crif, revealed that the monthly installment median to be returned to institutions is 319 euros. This is a significant burden for many families, with 45% of financing contracts aimed at purchasing goods or traveling, and 26% representing personal loans. Mortgage installments account for a substantial 28.9% of the total.
Regional Variations
When examining the regional breakdown, Sondrio emerges as the province with the highest monthly rate, with an average of 377 euros. Milan follows closely with 361 euros. Valtellina and the area surrounding the regional capital are also among the territories where the incidence of mortgages exceeds 30%. This trend is reflected in the amounts, with mortgage requests having a higher rate among credit requests presented to banks.
Debt in Milan: A Growing Trend
The study highlights a growing trend in debt in Milano and Lombardy. In the first six months of 2024, the number of those with at least one active installment credit contract has expanded, with 53.5% of residents living with an installment to repay. This figure is further strengthened in Lombardy, where 53.5% of residents have an installment to repay, ranking ninth in terms of regional diffusion.
Credit Challenges in Milan
The City of Milan faces credit challenges, including a high debt stock, limited revenue flexibility, and sizeable contingent liabilities [[2]]. This highlights the need for effective debt management and
