Data released by the central bank today indicates that new consumer credit in September showed substantial growth. Personal loans increased by 7.4% compared to the same month last year and rose 6.7% from August, reaching a total of 336.4 million euros.
Automobile credit saw a year-on-year increase of 13.5% and a monthly rise of 9.8%, totaling 307.3 million euros.
Credit card and overdraft facilities grew by 6.7% year-on-year and 8.4% compared to August, amounting to 121.4 million euros.
In September, 142,815 consumer credit contracts were executed, marking a 4.1% increase over the same month in 2024 and a 5.5% rise from August.
A total of 75,218 contracts were recorded for credit card and overdraft facilities (up 4.1% year-on-year), 47,616 for personal loans (up 4.4%), and 19,981 for car loans (up 12.4%).
Of the total new credit contracts in September, 5.1% were subsidized agreements, compared to 4.7% a year earlier and 4.8% in August.
“Subsidized credit contracts are made between the credit institution and the consumer, but a part of the credit cost is borne by a third party, such as the point of sale where the consumer acquires the financed good,” the BdP explains.
These subsidized loans accounted for 7.0% of the total amount in September, compared to 6.8% in May and 5.9% in the same month last year.
