The Bank of Portugal published updated May 2025 statistics on bank lending and deposits for households and companies, showing continued acceleration in household credit, a pickup in corporate lending growth, and a further slowdown in household deposit growth. Total lending to households rose 6.9% year on year, the highest annual rate since August 2008, with the housing loan stock increasing by EUR 960 million month on month to EUR 106.1 billion and growing 6.8% year on year. Consumer and other-purpose lending increased by EUR 222 million to EUR 31.2 billion and grew 7.1% year on year, including personal credit of EUR 12.9 billion (7.3% year on year), car loans of EUR 8.7 billion (10.1%), and credit cards of EUR 3.2 billion (7.5%). Lending to companies totalled EUR 73.1 billion, up EUR 617 million from April, and expanded 2.7% year on year, the strongest rate since June 2022, with positive annual growth for micro, small and large firms and a negative rate for medium-sized firms. Household deposits reached EUR 194.1 billion, up EUR 946 million on the month, and grew 5.6% year on year, marking a seventh consecutive monthly deceleration, while company deposits rose to EUR 70.6 billion and grew 7.1% year on year. The Bank of Portugal noted that annual growth rates are calculated based only on transaction flows, excluding other effects such as exchange rate movements. The next update is scheduled for 25 July 2025.

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