Portugal in countercycle with Europe in the new consumer credit in 2021 – Companies
The new contracts for granting consumer credit in Portugal retreated and even registered negative results in some items in the past tail of Europe, where the country at this level 1 is witnessing an increase in the order.
At least that’s what it says Eurofinas data, released Wednesday by the Association of Specialized Credit Institutions (ASFAC), which is part of the board of directors of that European federation representing the sector.
In global terms, the total amount of consumer credit used in Portugal by ASFAC members last year was 12.5 billion euros. Of these, 5.4 billion correspond to new contracts, which represents a drop of 3.87%, which is mainly explained by the reduction of new personal loans that were granted by 7.41%.
According to the ASF, in terms of credit for the purchase of new and used vehicles, Portugal’s performance was positive, with a total of 2 million euros granted, equivalent to a growth of 2.8%. In terms of car loans, an estimated total credit (new and existing) of 12.5 million euros (5 million people and ‘3 million people) and ‘3 million euros was estimated.
Looking at Europe, stilland according to Eurofinas, in addition to Portugal, Germany, Denmark and the Netherlands also recorded breaks in the granting of new consumer credits in global terms.
At European level, in 2021, there was an increase of 12.8% in these new loans, which totaled 449 billion euros.
In a statement, ASFAC indicates that “one of the most interesting data” is related to financing for vehicle purchases, with used cars outperforming new ones: in the former there was an increase of 14.3% and in the latter 5.3%.
In view of the Eurofinas data, the secretary general of ASFAC, Duarte Gomes Pereira, considers it to be “Measures to encourage and not stagnate credit. “Public health, war and inflation”, he says, quoted in the same statement sent to the newsrooms.