Consumer credit reaches a new record in November

Page created: Thursday, 18 January 2018 14:07 GMT

Consumer Credit

Consumer credit keeps accelerating, a particularly noticeable movement in the month before Christmas. In November, banks and credit institutions granted almost 654 million euros in consumer credit — a record amount, according to data disclosed this Monday by the Bank of Portugal. The total amount granted in the first 11 months of 2017 already surpasses the previous year’s total.

In November, banks granted 634.89 million euros. This is a 5.3% increase in comparison to 622.1 million euros from the previous month, as well as a maximum in the history of the entity headed by Carlos Costa, which goes back to the beginning of 2013.