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Continued growth in consumer finance

8 September 2017
New figures released today by the Finance & Leasing Association (FLA) show growth of 13% in consumer finance new business in July, compared with the same month last year.
Credit card and personal loan new business together grew by 16% compared with July 2016, while retail store and online credit new business increased by 11%. Second charge mortgage new business was up 23% by value and 21% by volume over the same period.
Commenting on the figures, Geraldine Kilkelly, Head of Research and Chief Economist at the FLA, said:
“In the first seven months of 2017, consumer finance new business provided by FLA members was up by 6% compared with the same period last year. This is broadly in line with expectations for UK new consumer credit growth in 2017 as a whole.
Table 1: New consumer credit lending
July 2017
% change on prev. year
3 months to July 2017
% change on prev. year
12 months to July 2017
% change on prev. year
Total FLA consumer finance (£m)
7,607
+13
23,229
+9
91,297
+7
Data extracts:
Retail store and online credit (£m)
557
+11
1,645
+6
6,637
+2
Credit cards & personal loans (£m)
4,061
+16
12,162
+12
46,728
+8
Second charge mortgages (£m)
90
+23
270
+27
956
+8
Car finance (£m)
2,503
+10
8,012
+6
32,813
+8
Note to editors:
FLA members in the consumer finance sector include banks, credit card providers, store card providers, second-charge mortgage lenders, motor finance providers, personal loan and instalment credit providers.In 2016, FLA members provided £118 billion of new finance to UK businesses and households. £88 billion of this was in the form of consumer credit representing over a third of total new consumer credit written in the UK in 2016.For media enquiries, please contact the FLA press office on 020 7420 9656.

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Katia Bassi joins Automobili Lamborghini as Chief Marketing Officer and Board Member

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Sant’Agata Bolognese, 5 September 2017 – Automobili Lamborghini announces Katia Bassi has joined the Management Board of the Company as Chief Marketing Officer, reporting to Chairman and Chief Executive Officer, Stefano Domenicali.
In her new role, Bassi is responsible globally for the strategic direction of Brand, Marketing, Partnerships, Sponsorship & Co-Branding. She’s the first woman ever to join the Lamborghini board.
“We are a passionate group of people creating exceptional sports cars. I see the same passion and commitment to excellence in Katia Bassi which is why I'm delighted to welcome her to the company,” says Domenicali.
“I am honored to join Lamborghini and work with Stefano Domenicali and the global team, who is bringing the company to the next level, enriching the customer experience. I’m ready for the challenge to surpass the extremely high levels of expectation from around the world in building on the company’s strong DNA and brand identity.”
Bassi joins Automobili Lamborghini from Aston Martin where she was Vice President of Aston Martin Lagonda and Managing Director of AM Brands. Prior to this, she held positions at National Basketball Association (NBA) in Italy, at the Italian football club Inter Milan, and at Ferrari.
The Italian super sports car brand is entering a new chapter in its history, exceeding €900m turnover for the first time and increasing worldwide sales by 7% to 3,457 in 2016, marking the sixth consecutive year of growth.
Automobili Lamborghini is doubling the size of its production site in Sant'Agata Bolognese in readiness for the arrival of the Urus Super SUV in 2018. The new facility will be complete in December 2017.

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