Evolution of new loans

Credit institutions report monthly to Banco de Portugal information on new consumer credit agreements (covered by the consumer credit regime – Decree-Law No. 133/2009) concluded in the previous month.

On the 15th of each month or on the next business day, Banco de Portugal publishes the most recent figures available for the evolution of new consumer credit agreements. These values are provisional and subject to revision.

Number and amount of new loans

The two tables below show the number of new credit agreements and the amount of credit contracted, broken down by type of credit agreement for which the maximum consumer credit rates are determined and published quarterly by Banco de Portugal.

The most recent figures as well as those of the previous month and of the respective month in the previous year are shown. Dates refer to the month in which the agreements were concluded.


 

Number of new consumer credit agreements

Type of credit agreement Number of agreements (P)

Aug 2018

Jul 2019

Aug 2019

Aug 2019 /

Jul 2019 (%)

Aug 2019 /

Aug 2018 (%)

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 1681 2698 2461 -8.8% 46.4%
Other Personal Loans (non-specific, home, consolidated and other purposes) 35228 40900 38077 -6.9% 8.1%
Car loans Financial Leasing or Long-term rental: new 1144 1127 916 -18.7% -19.9%
Financial Leasing or Long-term rental: used 389 412 399 -3.2% 2.6%
Subject to the retention of the ownership and others: new 4945 5243 4177 -20.3% -15.5%
Subject to the retention of the ownership and others: used 13559 14550 12864 -11.6% -5.1%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities (1) 63718 66960 76297 13.9% 19.7%
Total 120664 131890 135191 2.5% 12.0%

P – Provisional figures

(1) Overdraft Facilities include only credit agreements in the form of an overdraft facility with a repayment term of more than one month.

Amount of new consumer credit agreements

Type of credit agreement Amount contracted (P) (EUR million)

Aug 2018

Jul 2019

Aug 2019

Aug 2019 /

Jul 2019 (%)

Aug 2019 /

Aug 2018 (%)

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 7182 9936 10197 2.6% 42.0%
Other Personal Loans (non-specific, home, consolidated and other purposes) 233631 294194 271381 -7.8% 16.2%
Car loans Financial Leasing or Long-term rental: new 33215 32471 27035 -16.7% -18.6%
Financial Leasing or Long-term rental: used 9449 9642 9736 1.0% 3.0%
Subject to the retention of the ownership and others: new 67827 69359 56697 -18.3% -16.4%
Subject to the retention of the ownership and others: used 173799 186963 167876 -10.2% -3.4%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities (1) (2) 80450 85038 94116 10.7% 17.0%
Total 605553 687603 637038 -7.4% 5.2%

P – Provisional figures

(1) Overdraft facilities include only credit agreements in the form of an overdraft facility with a repayment term of more than one month.

(2) The amount of credit refers to the maximum amount of credit available to the customer (ceiling) and not to the amount of credit actually used.

 

Share of the number and amount of loans granted under protocol agreements

In the consumer credit market, sometimes credit is granted under protocol aggrements by a non-financial company.

Loans granted under protocol agreements are entered into between the credit institution and the consumer, but part of the cost of the credit is borne by a third party (for example, the point of sale where the consumer purchases the financed goods). The annual percentage rate of charge, which represents the cost of credit to the consumer, does not reflect the full cost of the credit in these cases.

Information about these agreements is not included in the calculation of the maximum consumer credit rates.

The tables below show the share of new loans granted under protocol agreegments by non-financial company in the total number of new agreements, in terms of the number of credit agreements and the amount of credit contracted. Dates refer to the month in which the agreements were concluded.

Share of new loans granted under protocol agreements

Type of credit agreement Number of loans granted under protocol agreements, as a percentage of the total  number of agreements (P)

Aug 2018

Jul 2019

Aug 2019

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 66.7% 6.2% 6.7%
Other Personal Loans (non-specific, home, consolidated and other purposes) 7.9% 8.6% 6.0%
Car loans Financial Leasing or Long-term rental: new 35.4% 46.5% 51.9%
Financial Leasing or Long-term rental: used 17.0% 36.2% 39.8%
Subject to the retention of the ownership and others: new 11.2% 17.8% 17.8%
Subject to the retention of the ownership and others: used 9.5% 12.4% 12.0%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities 0% 0% 0%
Total 5.1% 5.4% 4.0%

P – Provisional figures

Share of the amount of loans granted under protocol agreements

Type of credit agreement Amount of  loans granted under protocol agreements, as a percentage of the total amount contracted (P)

Aug 2018

Jul 2019

Aug 2019

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 46.3% 2.8% 2.9%
Other Personal Loans (non-specific, home, consolidated and other purposes) 2.9% 2.7% 2.2%
Car loans Financial Leasing or Long-term rental: new 33.3% 43.4% 49.7%
Financial Leasing or Long-term rental: used 13.5% 34.8% 37.0%
Subject to the retention of the ownership and others: new 8.7% 11.3% 12.2%
Subject to the retention of the ownership and others: used 6.1% 8.2% 7.5%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities 0% 0% 0%
Total 6.4% 7.1% 6.7%

P – Provisional figures