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)

Feb 2018

Jan 2019

Feb 2019

Feb 2019 /

Jan 2019 (%)

Feb 2019 /

Feb 2018 (%)

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 1094 1968 1956 -0.6% 78.8%
Other Personal Loans (non-specific, home, consolidated and other purposes) 38133 34752 35609 2.5% -6.6%
Car loans Financial Leasing or Long-term rental: new 907 855 738 -13.7% -18.6%
Financial Leasing or Long-term rental: used 283 350 317 -9.4% 12.0%
Subject to the retention of the ownership and others: new 3198 2768 3063 10.7% -4.2%
Subject to the retention of the ownership and others: used 11619 11844 11479 -3.1% -1.2%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities (1) 69043 72178 69311 -4.0% 0.4%
Total 124277 124715 122473 -1.8% -1.5%

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)

Feb 2018

Jan 2019

Feb 2019

Feb 2019 /

Jan 2019 (%)

Feb 2019 /

Feb 2018 (%)

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 5048 7323 7337 0.2% 45.3%
Other Personal Loans (non-specific, home, consolidated and other purposes) 257632 240545 258737 7.6% 0.4%
Car loans Financial Leasing or Long-term rental: new 26698 25756 21068 -18.2% -21.1%
Financial Leasing or Long-term rental: used 6474 7816 7636 -2.3% 17.9%
Subject to the retention of the ownership and others: new 45996 39772 44349 11.5% -3.6%
Subject to the retention of the ownership and others: used 145574 148772 144055 -3.2% -1.0%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities (1) (2) 87671 96324 92173 -4.3% 5.1%
Total 575093 566308 575355 1.6% 0.0%

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.

(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)

Feb 2018

Jan 2019

Feb 2019

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 50.0% 63.1% 62.5%
Other Personal Loans (non-specific, home, consolidated and other purposes) 15.1% 7.3% 6.7%
Car loans Financial Leasing or Long-term rental: new 40.0% 42.9% 43.8%
Financial Leasing or Long-term rental: used 21.9% 19.7% 15.8%
Subject to the retention of the ownership and others: new 7.4% 8.5% 8.2%
Subject to the retention of the ownership and others: used 9.8% 11.3% 11.7%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities 0% 0% 0%
Total 6.5% 4.6% 4.6%

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)

Feb 2018

Jan 2019

Feb 2019

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 35.9% 51.7% 50.6%
Other Personal Loans (non-specific, home, consolidated and other purposes) 4.2% 2.6% 2.5%
Car loans Financial Leasing or Long-term rental: new 37.2% 38.8% 40.5%
Financial Leasing or Long-term rental: used 18.3% 16.2% 13.7%
Subject to the retention of the ownership and others: new 6.7% 6.9% 6.7%
Subject to the retention of the ownership and others: used 6.3% 7.3% 7.8%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities 0% 0% 0%
Total 6.3% 6.2% 5.9%

P – Provisional figures