Mortgage loans drive credit growth granted to households this July
In the state as a whole, families have almost 724 billion euros in loans granted, 3% more in year-on-year terms
BarcelonaMortgage loans were the main drivers of credit growth granted to Spanish households during the past month of July. According to data presented this Tuesday by the Bank of Spain, loans granted by financial entities to families and non-profit institutions across the State totaled 723,867 million euros, 3% more than in July of last year.
According to the Bank of Spain, mortgage loans represent 73% of the total, equivalent to 530,431 million euros. The figure represents an increase of 4.2% year-on-year and a slight increase in the weight of these types of credit over the total. In July of last year, mortgage loans accounted for 72.4% of the total money granted to families.
Consumer credits also experienced a significant rebound, registering a balance of 121,650 million euros during the seventh month of the year. The amount translates into an 11% growth compared to July of last year, which raises the share of consumer credits in the total loans granted to 16.8%.
On the other hand, loans for other purposes linked to households registered a drop of 16.8%.
Loans to companies are growing
The financing of financial entities to companies operating in the State also increased year-on-year during the last month of June. As indicated by the Bank of Spain's data, credit to Spanish companies rose by 1.1%, slightly above 963,700 million euros.
Within this item, the amount of bank loans to companies rose by 3.6% in July, to 487,079 million euros, while debt securities —instruments issued by lenders and where they undertake to make one or more payments to the borrower on specific dates— increased by 2.5%, to 150,733 million euros.
Although the domestic market continued to show activity, external activity over the last month suffered some deceleration. In this regard, credit granted by Spanish entities abroad fell by 3%, to 325,892 million euros.
