Personal bankruptcies in the Czech Republic are constantly increasing, Prague is not among the worst

Personal bankruptcies in the Czech Republic are constantly increasing, Prague is not among the worst
Personal bankruptcies in the Czech Republic are constantly increasing, Prague is not among the worst
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You can’t live properly with empty pockets. Illustration photo: David Playford / Freeimages.com

In April, 1,288 personal bankruptcies were declared in the Czech Republic. At the same time, 1,374 insolvency proposals were filed. In both cases, this is month-on-month and year-on-year growth. This follows from the analysis of the data of the portal www.informaceofirmach.cz, which was carried out by the company CRIF.

From the period of the pandemic to the end of last year, the number of personal bankruptcies showed rather a downward trend. Since the beginning of this year, however, their number has been slightly increasing every month, as is the case with insolvency proposals.

“Compared to April last year, the number of bankruptcies increased by 26 percent, and the number of insolvency proposals even by 28 percent. We expect moderate growth in the coming months as well, even taking into account the slightly worsening payment morale of consumer loans, parallel to the growth of their volume since the beginning of this year,” comments Věra Kameníčková, CRIF analyst Czech Credit Bureau.

The largest number of bankruptcies were declared in April in the Moravian-Silesian (213), Ústeck (179) and Central Bohemian Regions (168), and the least in Karlovy Vary (40), Zlín Region (45) and Vysočín (46).

A total of 13,602 personal bankruptcies were declared in the last 12 months, i.e. 1,098 (9%) more than in the previous period. At the same time, 14,269 proposals for personal bankruptcy were filed, 1,098 (8%) more than in the previous 12 months. The number of bankruptcies increased across almost all regions of the Czech Republic. The exception is the Karlovy Vary region, where their number decreased by 8%. The number of bankruptcies increased the most in the Pardubice region, by 25 percent.

The most threatened is the Ústí Region, where there were 22 bankruptcies per 10,000 inhabitants in the last 12 months. The Moravian-Silesian Region followed with 18 bankruptcies per 10,000 inhabitants. Both regions show the highest rate of bankruptcy in the long term.

The fewest personal bankruptcies per 10,000 inhabitants were declared in Prague, only 8, after 9 bankruptcies per 10,000 inhabitants occurred in the Zlín Region and the Highlands. The average for the entire Czech Republic over the past 12 months was 13 personal bankruptcies per 10,000 inhabitants, compared to less than 12 bankruptcies in the previous period.

The article is in Czech

Czechia

Tags: Personal bankruptcies Czech Republic constantly increasing Prague among worst

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