Czech household savings fall by CZK 26 billion in March 2022

CRIF-Czech Credit Bureau published a press release containing the trends in the Czech credit market coming from Client Information Bank Register and Non-Banking Client Information Register data for Q1 2022.

The volume of total debt of individuals exceeded 3 trillion crowns in the Czech Republic for the first time in history. It increased by a record 407 billion crowns year-on-year.

Other important trends in the Czech credit market are as follows:

  • Continued high interest in mortgages while the volume of long-term debt increased by almost 20% year-on-year by CZK 383 billion
  • Long-term debts in Prague and the South Moravian Region grew the fastest
  • The volume of short-term debt increased by 24 billion (by 5%).
  • The volume of high-risk debt decreased by 1.8 billion (-6%) year-on-year to 28.1 billion crowns
  • The number of people not repaying long-term debt decreased by 2,606 (-20%) to 10,644
  • The number of people not repaying short-term debt decreased by 6,842 (-4%) to 176,022

The press release was published by several important Czech media outlets. Jiří Rajl (Director of the Non-Banking Client Information Register) was interviewed on Czech Television and the press release was also broadcast on Czech Radio, the largest internet publishers and, and the largest printed newspaper Právo. A total of 22 Czech media outlets published the press release, which strengthened the brand awareness of CRIF and also the Client Information Bank Register and Non-Banking Client Information Register.