Compared with March this year, consumers’ requirements for consumer credit have decreased, but compared with April 2020, the value of new debt has soared by 161%.
New consumer credit issued in April fell slightly from the previous month to 535 million euros, of which the decrease in personal credit offset the increase in car loans and the increase in debt recorded through credit card, credit and overdraft facilities.
According to temporary data Disclosure Data released by the Bank of Portugal this Tuesday showed that compared with April 2020, newly issued consumer credit has soared by 161%.
In terms of personal credit, the monthly decline was 9.7% to 225 million euros. In terms of auto loans, it increased by 8.1% to 222 million euros. In terms of credit card and overdraft lines, new financing has also increased, from 6% to 89 million euros.
As for the number of contracts signed, compared with March, April fell by 2.4% to 115,000. Compared with the same month last year, the number of newly signed contracts increased by 164%.
Since the beginning of 2021, consumers have signed up 1.85 billion euros in consumer credit, which is a 10% decrease compared to the first four months of last year.
12:31 update to provide more information