At the end of November 2023, housing loans totaled €99.1 billion in November, the first month in 2023 in which there was a monthly increase.
Data from the Bank of Portugal show that after almost a year, there has been an increase, although the amount has decreased (€26 million). These loans showed a growth rate of -1.1% compared to November 2022.
Total loans to individuals recorded a year-on-year decline (-0.4%) for the third month in a row, in November, while consumer loans amounted to 21.1 billion euros, 0.1 billion more than in October. These loans increased by 3.8% compared to November 2022 (3.5% in October).
Regarding companies, total loans granted by banks amounted to 72.4 billion euros at the end of November 2023, 0.1 billion euros less than at the end of October. Compared to November 2022, the volume of these loans decreased by 3.2% (-3.3% in October).
Small enterprises were those that achieved a positive annual rate of change (2.4%), while the rest of the types (small, medium and large enterprises) recorded negative rates.
The industrial, electricity, trade, transportation, and residence sectors recorded negative annual change rates of -9.8% and -1.9%, respectively (-10.1% and -2.3% in October). In contrast, the construction and real estate sector recorded a positive annual rate of change of 0.3% (the same rate as in October).
Emily Brontë is a journalist and feature writer specialising in culture, entertainment, literature, and current affairs. She is dedicated to producing clear, accurate reporting that helps readers stay informed about developments in the UK and around the world.
