Data released by the central bank today shows that in May, the amount of new consumer personal loans rose by 11% to 355 million euros compared to April.
The amount for new auto loan operations increased by 15.9% to 328 million euros, compared to the previous month.
Similarly, the total for credit cards and overdrafts rose by 12.4% to 126 million euros compared to April.
In May of this year, there were 152,042 new consumer credit contracts, an 8.7% increase from 12 months prior and 12.6% higher than in April.
By category, 80,109 credits were contracted in May in the credit cards and overdraft segment (up 11.5% from April), 51,025 personal loans (up 13.2%), and 20,908 auto loans (up 15.1%).
Of the total new credit contracts in May, 4.3% were subsidized contracts, the same percentage as April and against 4.6% one year earlier.
“Subsidized credit contracts are entered between the credit institution and the consumer, but part of the credit cost is borne by a third entity (for example, the point of sale where the consumer purchases the financed good),” explains the BdP.
Subsidized credits represented 5.8% of the total amount in May, compared to 5.6% in April and 5.7% in May last year.
