Consumer credits surges 18.6%

Page created: Wednesday, 16 December 2015 8:40 GMT

Bank Credit  Bank of Portugal  Consumer Credit

The amount of new consumer credit granted by Portuguese financial entities in October rose by 18.6% year-on-year according to figures from the Bank of Portugal on Tuesday.
October saw the signing of 122,878 new consumer credit contracts, up 10% on 2014 and 12.1% on September and worth a total of €474.4, up 18.6% and 14.8% according to the same respective timeframes.
Broken down by credit types, loans for the purposes of education, healthcare, renewables and the leasing of equipment turned in the largest rise, spiking 87% year-on-year and advancing 14.2% on September with a total of 634 contracts with a collective worth of €5.3 million, up 33.9% annually and 11.6% monthly.
Personal loans for no specific purpose or the consolidation of other loans increased in number by an annualised 14.5% and 13.2% on September to reach a total value of €206.2 million, up 15% and 16.5% respectively.
In turn, car loans registered a total value of €277.8 million in October, up 11.1% year-on-year.
As regards new credit contracts for credit cards, overdraft facilities and other credit lines, they advanced an annualised 2.7% in October, and up 13.9% on September, to total €888.1 million.
Furthermore, Tuesday saw SIBS announce that the Portuguese ATM Multibanco network had carried a total of €2.188 billion in purchases, up 7.6% year-on-year, between November 23 and December 13. In turn, ATM cash points had doled out a total of €1.685 billion over this same period, rising 1.6% annually.
The average amount withdrawn daily stood at €66 with the average store payment coming with a value of €39.