Credit to families and companies holds up in September despite uncertainty


Credit granted by financial entities to families and non-profit institutions residing in Spain rose 0.6% in September from the same month last year, up to 702,761 million euros, while financing for companies increased by 1.4%, to 951,552 million euros, according to data published this Wednesday by the Bank of Spain. In both cases, the increase is very similar to that registered the previous month, which shows that the funding tap remains open.

This represents an increase in the credit granted to families of 4,280 million euros and a rise of 12,823 million euros in those referred to companies in the last twelve months and in a context marked now by the impact on the Spanish economy of the war in Ukraine and the escalation of prices -the annual rate of inflation is still at 7.3%-.

In a monthly comparison, the indebtedness of families fell in September by 482 million euros in relation to the month of August, which is 0.07% less. On its side, the debt of companies was 4,335 million euros lower in September compared to August, 0.5% less. Household mortgage loans, which represent the majority of their total debt, stood at 517,322 million euros in September, which is 4,929 million above the figure for a year ago, although it fell slightly compared to the previous month .

In this way, the data from the regulator show that the amount that families allocated to your home continues to occupy most of your indebtedness, since it represents around 73.6% of it. On the other hand, family loans for consumption grew in September at a monthly rate of 1.6%, to 95,032 million euros, while at an interannual rate they rose by 1.7%.

For their part, family loans for other purposes totaled 87,108 million euros, down from 88,572 million a month earlier. In the interannual rate, for its part, it registered a decrease of 3.2%. On its side, financing to companies in the ninth month of the year rose at the year-on-year level, due to the rise in both credits with financial entities and loans from abroad and debt securities.

Specific, bank loans to companies stood at 484,295 million euros in September, which represents a rise of 1.3% compared to the same month of the previous year. On their side, debt securities grew by 0.8% year-on-year, to 137,911 million. Finally, loans from abroad rose by 1.6% year-on-year, to 329,346 million euros.


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