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Responsible lending

Lending institutions have the capacity to help people improve their lives and achieve their goals. The Cofidis Group and its subsidiaries know how useful they can be to their customers, so they ensure responsible products and relationships that protect customers from risky behaviour and situations.

Credit, a practical service for France's households and its economy

Consumer credit is a vital component of consumer spending and a direct contributor to economic growth. In France, consumer credit spending totalled €15bn net of consumption for households, representing a total of 8% in GDP (including loan repayments).

Consumer credit is a real growth driver for the following sectors: it influences almost 80% of purchases of vehicles (cars/motorbikes), household equipment and other so-called “durable” goods (furniture, electrical appliances, etc.), which account for 24% of goods consumption and 16% of total household consumption.

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21.8%

or 6.6 million households have taken out a personal loan

The level of household debt in France has doubled in 20 years. But this growth has been driven by the sharp increase in mortgage borrowing. By 2022, 76.8% of household debt will be accounted for by mortgages. Conversely, the share of consumer credit in household debt will fall from 22% to just over 11% over the same period.

11%

household debt

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Only 10%

of loan applications are granted in cases where we have no existing relationship with the customer

Between 2014 and 2022,

the number of cases of over-indebtedness will be halved

Our commitment: acting responsibly for our customers

Our teams are committed to improving our customers’ lives, helping them to pursue their dreams, while protecting them from risky financial situations and behaviour. Our greatest responsibility is to grant credit to people who can repay it. That’s why, before accepting applications, we take great care to ask our customers to provide a number of supporting documents, depending on the type of credit they are looking for.

We encourage our customers to consume more sustainably, with affinity insurance to extend the life of products. We offer solutions specifically adapted to the situation of each customer (customers with disabilities, micro-entrepreneurs, etc.).