The volume of private deposits increased by 6.1% in May year on year to 184,299 million euros, reaching the highest value and change since December and October 2022 respectively, the BdP reported this Thursday.
“At the end of May 2024, private deposits in resident banks amounted to 184.3 billion euros,” up 1,068 million euros from April, according to an analysis published by the Bank of Portugal (BdP).
In the document, the central bank adds that time deposits, which include agreed-upon deposits and advance notice deposits, increased by some 14.814 million euros year-on-year to 105.084 million euros.
The year-on-year rate of change was the fastest since the 7% recorded in October 2022.
In the case of companies, the volume of deposits in resident banks amounted to 65.682 million euros, which is 2.2% more than last year.
In the field of personal lending, the total amount of loans reached 128.928 million euros. The annual rate of change (tva), which excludes the impact of changes not related to the transactions themselves, was 1.0%, marking the fourth consecutive month of positive readings.
The total amount of housing loans amounted to 99.387 million euros, down 0.1% year on year, but up 228.4 million euros compared to April. For TVA, which was zero in the month analyzed, May was the first month since June 2023 in which it was not negative.
The consumer loan stock amounted to EUR 21,709 million at the end of May, which is approximately EUR 132 million more than in April, with an annual rate of change of 4.4% and tva of 5.8% compared to May of the previous year.
As for the “stock” of loans to businesses, at the end of May the total amount was 72.325 million euros, which is 1.540 million euros less than at the end of the same period last year – tva -0.8% and a drop equivalent to 2.1% .
By size, micro-enterprises were the only ones to experience annual growth in loans issued (4.6%), while small (-4.0%), medium (-5.8%) and large (-0.2%) registered reduction of this indicator. .
Industry, electricity, trade, transport and housing recorded negative annual rates of change of -3.8% and -2.5%, respectively, versus -3.8% and -2.9% in April.
Conversely, the construction and real estate sector saw a positive annual rate of change of 2.4%, up from 2.1% in April.
Author: Lusa
Source: CM Jornal
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