Retailers welcome ‘record’ credit surge in Q1

The strong growth in the retail credit market is said to be mirrored across the wider consumer finance market, which expanded by 20% in May 2022 compared with the same month in 2021, reaching £10.4bn

The retail store and online credit sector welcomed its “faster ever” start to the year, as new business volumes reached £2.1bn in the opening quarter, according to the Finance and Leasing Association.

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