Today, Banco de Portugal publishes statistics, in Table A.10 of the Statistical Bulletin and in BPstat, on banking interest rates on new loans and deposits of non-financial corporations and households for December 2018.
Today, Banco de Portugal publishes statistics, in Table A.10 of the Statistical Bulletin and in BPstat, on banking interest rates on new loans and deposits of non-financial corporations and households for December 2018.
The average interest rate on new loans granted to non-financial corporations increased by 30 basis points (b.p.) from December 2017, to 2.46%.
Broken down by segment, and in year-on-year terms, the interest rate on operations below €1 million declined by 20 b.p., to 2.67%, and the interest rate on operations above €1 million increased by 70 b.p., to 2.29% (Chart 1).
In 2018 the volume of new loans granted to non-financial corporations totalled €31.6 billion, corresponding to a €2.7 billion increase from 2017 and reversing the decreasing trend observed since 2014.
In the same period, interest rates on new loans to households continued to show a downward trend, reaching new historical lows in several segments.
The average interest rate on new loans to households for house purchase was 1.41%, a 16 b.p. decrease from December 2017 (Chart 2).
The average interest rates on loans for consumption and other purposes were 6.77% (6.88% in December 2017) and 3.75% (3.26% in December 2017) respectively. In December 2018, the rate on loans for consumption reached a historical low.
In 2018 new loans for house purchase, consumption and other purposes totalled €9.8 billion, €4.7 billion and €1.8 billion respectively.
In December 2018 the average interest rate on new deposits with a maturity of up to one year of non-financial corporations stood at 0.10%, 4 b.p. less than in December 2017 (Chart 3), a new historical low of this series. In 2018 the overall volume of new deposits of non-financial corporations amounted to €19.6 billion (€25.4 billion in the same period a year earlier), accounting for a new historical low.
In the case of households, in 2018, the volume of new operations corresponded to a new historical low of €60.5 billion, compared to €61.1 billion in 2017. The average interest rate on new deposits with a maturity of up to one year declined by 4 b.p. from the same period a year earlier, to 0.14% (Chart 4).
Next update: 12 Mar. 2019