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)

Mar 2019

Feb 2020

Mar 2020

Mar 2020 /

Feb 2020 (%)

Mar 2020 /

Mar 2019 (%)

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 2331 2561 1463 -42.9% -37.2%
Other Personal Loans (non-specific, home, consolidated and other purposes) 39624 41470 34132 -17.7% -13.9%
Car loans Financial Leasing or Long-term rental: new 958 693 742 7.1% -22.5%
Financial Leasing or Long-term rental: used 397 286 271 -5.2% -31.7%
Subject to the retention of the ownership and others: new 3705 3187 3060 -4.0% -17.4%
Subject to the retention of the ownership and others: used 11927 12443 10166 -18.3% -14.8%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities (1) 71416 79106 54126 -31.6% -24.2%
Total 130358 139746 103960 -25.6% -20.3%

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)

Mar 2019

Feb 2020

Mar 2020

Mar 2020 /

Feb 2020 (%)

Mar 2020 /

Mar 2019 (%)

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 9164 9775 5925 -39.4% -35.3%
Other Personal Loans (non-specific, home, consolidated and other purposes) 276957 302484 259735 -14.1% -6.2%
Car loans Financial Leasing or Long-term rental: new 26697 22065 24286 10.1% -9.0%
Financial Leasing or Long-term rental: used 9252 7107 6680 -6.0% -27.8%
Subject to the retention of the ownership and others: new 50203 45450 44625 -1.8% -11.1%
Subject to the retention of the ownership and others: used 150774 158560 132550 -16.4% -12.1%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities (1) (2) 94241 106814 77797 -27.2% -17.4%
Total 617288 652255 551598 -15.4% -10.6%

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)

Mar 2019

Feb 2020

Mar 2020

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 60.0% 9.3% 7.0%
Other Personal Loans (non-specific, home, consolidated and other purposes) 5.9% 5.4% 8.4%
Car loans Financial Leasing or Long-term rental: new 50.1% 41.4% 42.6%
Financial Leasing or Long-term rental: used 12.6% 16.8% 26.9%
Subject to the retention of the ownership and others: new 11.9% 12.0% 10.8%
Subject to the retention of the ownership and others: used 11.7% 12.1% 15.5%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities 0% 0% 0%
Total 4.7% 3.5% 5.1%

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)

Mar 2019

Feb 2020

Mar 2020

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 44.7% 5.2% 3.8%
Other Personal Loans (non-specific, home, consolidated and other purposes) 2.5% 2.2% 2.7%
Car loans Financial Leasing or Long-term rental: new 47.6% 42.1% 43.7%
Financial Leasing or Long-term rental: used 10.9% 17.4% 26.2%
Subject to the retention of the ownership and others: new 8.6% 9.9% 9.0%
Subject to the retention of the ownership and others: used 8.0% 8.1% 9.9%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities 0% 0% 0%
Total 6.6% 5.4% 6.6%

P – Provisional figures