Consumer credit in Portugal reached 726.147 million euros in June, marking a 13.4% increase year-on-year but a 10.2% decrease compared to May, as reported by the Bank of Portugal (BdP) today.
Provisional data from the central bank show that new personal loans rose by over 14.3% year-on-year to 319.236 million euros in June, while new auto loans increased by 12.4% to 294.034 million euros.
Additionally, the amount for credit cards, credit lines, and overdraft facilities rose by 7.3% to 112.877 million euros.
On a month-to-month basis, from May to June, new personal loans decreased by 10.1%, auto loans fell by 10.4%, and card and overdraft lending dropped by 10.2%.
The number of new credit agreements established in June rose by 10.4% year-on-year to 136,963, but fell by 9.9% compared to May.
In June, 71,937 credit agreements were made in the cards and overdraft category, 46,141 personal loans, and 18,885 auto purchase loans were concluded.
Of the total number of new credit contracts in June, 4.7% were subsidized agreements, up from 4.6% a year earlier and 4.3% in the previous month.
Subsidized credit agreements involve the credit institution and the consumer, with part of the credit cost covered by a third party, such as the point of sale where the consumer buys the financed product.
Subsidized credits accounted for 6.2% of the total amount in June, compared to 5.8% in both June 2024 and May of this year.
