Loans to families rose 0.7% in June and loans to companies fell 0.2%

this Lending by financial institutions to families and non-profits residing in Spain increased by 0.7% Financing for companies fell 0.2 percent to €944,018 million in June, compared to the same month last year, to 712,047 million euros, according to data released this Monday by the Bank of Spain.

This assumes an increase in credit to families. A decrease of 4.826 million and 1.683 million euros in references to companies in the last twelve months and in a context currently marked by the impact of the war in Ukraine on the Spanish economy and rising prices.

The Bank of Spain emphasized that the financing provided to families continued to grow at higher rates in June 2022 compared to the pre-pandemic period. While providing financing to companies, it continued to slow to a rate of almost zero year-over-year.

On a monthly basis, family indebtedness increased by 1.4% in June, up 9,806 million euros from May. In June, corporate debt rose by €1.669m, 0.2% more than in May.

Mortgage loans are growing

Housing loans, which make up the majority of total debts, It amounted to 517,696 million euros in June, which is almost the same as the previous month and 5,357 million more than a year line with the increase in home sales in recent months.

In this way, data from the Bank of Spain shows that families continue to occupy most of their debt, representing about 72.7% of the amount they allocate to their homes.

Consumer loans for families increased by 0.4% month-on-month to €93,159 million in June, while the annual interest rate fell by 1.1%.

Family loans for other purposes totaled €98,197 million, compared to €89,037 million in the previous month; this represents an increase of 10.3% after six months of decline. The inter-annual rate, on the other hand, increased by 0.7%.

Debt securities are growing

On the other hand, in the sixth month of the year, the financing provided to companies decreased compared to the same period of the previous year due to the decrease in both loans to financial institutions and loans obtained from abroad, while there was an increase in debt securities in recent years.

Specifically, bank loans to companies amounted to €483,031 million in June, representing a decrease of 0.3% compared to the same month of the previous year. Debt securities rose 3.6% year-on-year to 138,675 million. Finally, loans obtained from abroad decreased by 1.4% year-on-year to 322,312 million.

Source: Informacion


Please enter your comment!
Please enter your name here


More from author