The “accumulation” of household deposits in resident banks fell in May for the fifth consecutive month to EUR 173,667.9 million, less than 2.7% in equivalent terms, the “biggest decline” in a series published since December 1980, Bank of Portugal said. (BDP).
According to data from the Bank of Portugal (BdP) published this Wednesday, at the end of May, individuals had 173,667.9 million euros in deposits with resident banks, which is 710.8 million euros less than in April, and 4,728 .6 million euros less than in the same period.
Compared to May 2022, the difference was 2.7%, “the largest monthly decline recorded in the published series” since December 1980, the central bank adds.
In the case of companies, the volume of deposits in resident banks amounted to 64,289.4 million euros, less than 1,181.1 million euros in the chain, but more than 868.8 million euros in equivalent terms.
In turn, the “stock” of housing loans decreased in May for the fourth month in a row, reaching 99,521.8 million euros.
According to BdP, at the end of May 2023, the total amount of home loans was 99,521.8 million euros, which is 118.3 million euros less than at the end of April.
The central bank adds that the annual rate of change of these loans “slowed for the tenth consecutive month from 4.8% in July 2022 to 0.9% in May 2023.” On an annualized basis in May 2022, this figure was also 4.8%.
The amount of consumer loans in May increased by 4.4% compared to the same month in 2022 and amounted to EUR 20,792 million.
As for the “stock” of loans to companies, at the end of May their total amount was 73,864.7 million euros, which is about 245.7 million euros less than at the end of the previous month. On an annualized basis, the reduction amounted to 2,798.9 million euros.
“This decline was significant across all aspects of companies (excluding micro-enterprises), as well as in the electricity, gas and water, housing, catering and manufacturing sectors,” notes BdP.
Bank loans and deposits statistics will be updated by BdP on July 26th.
Author: Portuguese
Source: CM Jornal
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