The Bank of Portugal released updated statistics on bank loans and deposits to companies and individuals through January 2025. Housing loans to individuals grew 4.1% year on year, extending a 13-month acceleration trend, while household deposit growth eased to 6.8% year on year, marking a third consecutive month of deceleration. Total lending to individuals increased 4.7% year on year, with the housing loan stock rising by EUR 415 million from December to EUR 102.8 billion; the number of housing credit borrowers stood at 1.96 million, continuing a decline observed since July 2022. Consumer and other-purpose lending totalled EUR 30.4 billion, up EUR 6 million on the month and up 6.8% year on year, with consumer credit growth at 7.3% and other-purpose loans at 5.8%. Lending to non-financial companies totalled EUR 72.8 billion, up EUR 281 million from December and up 1.3% year on year, with positive annual growth for micro and large firms and negative rates for small and medium-sized enterprises. Household deposits in resident banks fell EUR 117 million on the month to EUR 192.6 billion, reflecting lower sight deposits partly offset by higher term deposits, while corporate deposits fell EUR 1,023 million to EUR 68.4 billion but rose 8.7% year on year. The next update is scheduled for 27 March 2025.
Bank of Portugal2025-02-27
Bank of Portugal publishes January 2025 bank lending and deposit statistics showing accelerating mortgage growth and slowing household deposit growth
The Bank of Portugal reported housing loans to individuals grew 4.1% year on year through January 2025, continuing a 13-month acceleration trend, while household deposit growth slowed to 6.8%. Total lending to individuals increased 4.7% year on year, with consumer credit growth at 7.3%. Lending to non-financial companies rose 1.3% year on year, with positive growth for micro and large firms but declines for small and medium-sized enterprises.