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)

Sep 2018

Aug 2019

Sep 2019

Sep 2019 /

Aug 2019 (%)

Sep 2019 /

Sep 2018 (%)

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 1956 2466 2542 3.1% 30.0%
Other Personal Loans (non-specific, home, consolidated and other purposes) 35261 38546 38398 -0.4% 8.9%
Car loans Financial Leasing or Long-term rental: new 884 916 906 -1.1% 2.5%
Financial Leasing or Long-term rental: used 281 399 343 -14.0% 22.1%
Subject to the retention of the ownership and others: new 3750 4177 3878 -7.2% 3.4%
Subject to the retention of the ownership and others: used 11300 12872 11981 -6.9% 6.0%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities (1) 68021 76315 78386 2.7% 15.2%
Total 121453 135691 136434 0.5% 12.3%

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)

Sep 2018

Aug 2019

Sep 2019

Sep 2019 /

Aug 2019 (%)

Sep 2019 /

Sep 2018 (%)

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 11564 10218 11934 16.8% 3.2%
Other Personal Loans (non-specific, home, consolidated and other purposes) 237999 277099 282643 2.0% 18.8%
Car loans Financial Leasing or Long-term rental: new 25262 27035 25959 -4.0% 2.8%
Financial Leasing or Long-term rental: used 6649 9736 8448 -13.2% 27.1%
Subject to the retention of the ownership and others: new 52119 56697 53383 -5.8% 2.4%
Subject to the retention of the ownership and others: used 143017 167987 155035 -7.7% 8.4%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities (1) (2) 84565 94178 97462 3.5% 15.3%
Total 561175 642950 634864 -1.3% 13.1%

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)

Sep 2018

Aug 2019

Sep 2019

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 60.1% 6.7% 6.5%
Other Personal Loans (non-specific, home, consolidated and other purposes) 6.5% 5.9% 4.7%
Car loans Financial Leasing or Long-term rental: new 43.3% 51.9% 53.6%
Financial Leasing or Long-term rental: used 12.8% 39.8% 42.0%
Subject to the retention of the ownership and others: new 12.7% 17.8% 17.0%
Subject to the retention of the ownership and others: used 9.6% 11.9% 11.3%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities 0% 0% 0%
Total 4.5% 4.0% 3.4%

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)

Sep 2018

Aug 2019

Sep 2019

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 31.0% 2.9% 2.5%
Other Personal Loans (non-specific, home, consolidated and other purposes) 2.5% 2.1% 1.9%
Car loans Financial Leasing or Long-term rental: new 39.3% 49.7% 51.6%
Financial Leasing or Long-term rental: used 10.0% 37.0% 40.7%
Subject to the retention of the ownership and others: new 9.5% 12.2% 10.8%
Subject to the retention of the ownership and others: used 6.2% 7.5% 7.1%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities 0% 0% 0%
Total 6.1% 6.6% 6.2%

P – Provisional figures