A recent update from a financial entity, to which the Association of Specialized Credit Institutions (ASFAC) is affiliated, highlighted a significant rise in personal credit in Portugal by 21.3% compared to the first quarter of 2024.
An ASFAC statement also recorded a 9.3% increase in ‘revolving’ accounts and credit cards, with overall consumer credit (excluding auto loans) seeing a rise of 12.8%.
Based on this data, Portugal is among the countries with the highest growth in consumer credit, particularly in segments such as personal credit, ‘revolving’ accounts, and credit cards, where the country consistently ranks among the top three for highest values.
In the automotive credit sector, Portugal ranks fourth for new vehicles and sixth for both new and used vehicles combined.
Overall, the association pointed out that consumer credit production across Eurofinas member countries rose by 5.5% year-on-year.
This increase is largely attributed to the segments of credit for new vehicles (+11.8%) and personal credit (+10.1%).
In new vehicles, Turkey showed the most significant increase at +61.7%, followed by Morocco at +52.6% and Denmark at +32.2%.
Portugal, with a growth of 21.9%, ranks fourth, while for used vehicles, the Czech Republic leads at +18.6%, followed by Denmark at +12.5% and Italy at +6.8%.
