“The stock of housing loans increased by 786 million euros compared to July, totaling 107.1 billion euros at the end of August. Year-on-year, the trend of acceleration continued, with growth reaching 8.4%, the highest since July 2008,” the central bank reports.
In August, the total amount of loans to individuals rose by 8.2% compared to the same month in 2024, marking the highest growth rate since 2008.
Consumer and other loans increased by 175 million euros compared to July, reaching 32.983 billion euros, and rose by 7.7% year-on-year, matching the rate recorded in the previous month (7.7%).
The BdP elaborates that the annual variation rate was 6.8% for consumer loans and 9.2% for other purposes.
At the end of July, personal credit stock was nearly 13.106 billion euros, 56 million more than in July, corresponding to a year-on-year growth of 7.1%, compared to 7.2% in the previous month.
Car loans totaled almost 8.861 billion euros, 45 million euros more than in July, with an annual variation rate of 9.7%, while credit card debt was nearly 3.291 billion euros, 30 million less sequentially, with an annual variation rate of 7.7%.
Regarding business credit stock, it was 73.93 billion euros at the end of July, 303 million euros less than in July, with a year-on-year growth of 4.0%, representing an increase over the previous month (3.6%).
Microenterprises, small businesses, and large companies maintained positive annual growth rates (12.7%, 3.4%, and 0.7% respectively), while medium-sized companies continued to show a negative rate (-2.1%), the BdP states.
Credit to the construction and real estate activities sector maintained acceleration, with the annual variation rate reaching 8.2% (7.6% in July).
In commerce, transportation, and accommodation, the annual variation rate was 2.6%, with differing behaviors within the segment: credit to accommodation and food services and credit to commerce grew compared to the same month last year (3.1% and 4.2%, respectively), while credit to the transportation and storage sector decreased annually (-2.4%).
