The Bank of Portugal released provisional data today regarding the evolution of new consumer loans in February. Compared to the same month last year, the amount of new personal loans increased by 6.98%, reaching 344.3 million euros.
The amount for new car loan operations rose by 9.29% compared to the previous year, totaling 277.0 million euros.
Conversely, the amount from credit cards and overdrafts decreased by 3.4% to 115.5 million euros.
In February this year, there were 139,711 new consumer credit contracts, a figure 2.4% lower than recorded 12 months earlier, but 3.3% higher than in January of this year.
In the second month of 2025, 74,905 credits in the category of credit cards and overdrafts were contracted (a decrease of 5.1% year-on-year), 47,451 personal loans (an increase of 0.04%), and 17,355 car loans (a rise of 3.47%).
Of the total new credit contracts in February, 4.2% were subsidized contracts, compared to 4.5% a year earlier and in January.
“Subsidized credit contracts are agreed between the credit institution and the consumer, but part of the cost of the credit is borne by a third party (for example, the point of sale where the consumer purchases the financed good),” explains the Bank of Portugal.
In terms of total amount proportion, these subsidized loans accounted for 5.4% in February, compared to 6.0% in February 2024 and 5.5% in January.
