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)

Jun 2018

May 2019

Jun 2019

Jun 2019 /

May 2019 (%)

Jun 2019 /

Jun 2018 (%)

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 1525 2521 2002 -20.6% 31.3%
Other Personal Loans (non-specific, home, consolidated and other purposes) 37385 39966 35044 -12.3% -6.3%
Car loans Financial Leasing or Long-term rental: new 1068 926 831 -10.3% -22.2%
Financial Leasing or Long-term rental: used 409 370 306 -17.3% -25.2%
Subject to the retention of the ownership and others: new 4985 4547 3974 -12.6% -20.3%
Subject to the retention of the ownership and others: used 13234 13712 11105 -19.0% -16.1%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities (1) 66655 71503 61869 -13.5% -7.2%
Total 125261 133545 115131 -13.8% -8.1%

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.

Amount of new consumer credit agreements

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

Jun 2018

May 2019

Jun 2019

Jun 2019 /

May 2019 (%)

Jun 2019 /

Jun 2018 (%)

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 6102 9289 7647 -17.7% 25.3%
Other Personal Loans (non-specific, home, consolidated and other purposes) 263809 299447 253756 -15.3% -3.8%
Car loans Financial Leasing or Long-term rental: new 31683 26824 24210 -9.7% -23.6%
Financial Leasing or Long-term rental: used 9223 8639 7039 -18.5% -23.7%
Subject to the retention of the ownership and others: new 68811 61919 53665 -13.3% -22.0%
Subject to the retention of the ownership and others: used 170446 174178 143335 -17.7% -15.9%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities (1) (2) 83509 93995 76330 -18.8% -8.6%
Total 633583 674291 565982 -16.1% -10.7%

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)

Jun 2018

May 2019

Jun 2019

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 68.3% 63.1% 10.1%
Other Personal Loans (non-specific, home, consolidated and other purposes) 6.6% 7.9% 8.5%
Car loans Financial Leasing or Long-term rental: new 36.0% 47.5% 46.5%
Financial Leasing or Long-term rental: used 18.6% 14.6% 17.3%
Subject to the retention of the ownership and others: new 10.9% 15.4% 16.1%
Subject to the retention of the ownership and others: used 9.5% 12.0% 13.2%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities 0% 0% 0%
Total 4.6% 5.7% 5.0%

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)

Jun 2018

May 2019

Jun 2019

Personal credit For Education, Health, Renewable Energies and Financial Leasing of Equipment 53.8% 55.9% 3.8%
Other Personal Loans (non-specific, home, consolidated and other purposes) 2.3% 2.5% 2.5%
Car loans Financial Leasing or Long-term rental: new 33.9% 45.9% 43.6%
Financial Leasing or Long-term rental: used 17.5% 13.9% 14.9%
Subject to the retention of the ownership and others: new 8.7% 10.3% 10.4%
Subject to the retention of the ownership and others: used 6.1% 7.6% 8.4%
Credit cards, Credit lines, Bank credit accounts and Overdraft Facilities 0% 0% 0%
Total 6.0% 6.8% 6.3%

P – Provisional figures