Bank of Portugal publishes March 2025 bank loan and deposit statistics with mortgage lending up 5.4% year on year

The Bank of Portugal published updated March 2025 statistics on bank loans and deposits for households and corporates, showing faster growth in household credit driven by mortgages, a pickup in lending to companies, and continued but slowing growth in household deposits. Annual growth rates are calculated from transactions only, reflecting new lending and repayments and excluding other effects such as exchange rate movements. Household loan stocks rose 5.8% year on year, with mortgages up 5.4%, the highest annual rate since September 2008. The mortgage stock increased by EUR 908 million from February to EUR 104.4 billion at end-March, with 1.96 million mortgage borrowers, up 2,476 month on month. Consumer and other-purpose loans rose EUR 218 million to EUR 30.8 billion and grew 7.1% year on year, including personal loans of EUR 12.8 billion, up 7.6%, auto credit of EUR 8.5 billion, up 10.1%, and credit card balances of EUR 3.2 billion, up 9.1%. Loans to companies totalled EUR 72.7 billion, up EUR 65 million from February and 1.4% year on year, the highest since August 2022, with micro and large firms growing 9.7% and 1.1% respectively while small and medium-sized firms remained negative at -0.6% and -4.4%. Household deposits stood at EUR 192.6 billion, down EUR 182 million month on month, while still up 5.9% year on year for a fifth consecutive deceleration; corporate deposits rose to EUR 69.5 billion and grew 8.1% year on year. The next update is scheduled for 30 May 2025.