Demand for credit in Spain fell slightly in the first quarter of the year, both from credit to companies and households, whether mortgages or consumer loans. The Spanish banks do not want any surprise and uncertainty about a possible slowdown in the European economy, together with the strong control exercised by the European Central Bank in the granting of mortgages and the assumption by banks of all expenses on operations Mortgages have meant that the criteria for approving loans have been slightly tougher, both those aimed at the acquisition of a home and those aimed at consumption or other purposes. This has caused that the demand of these banking products has been reduced in the first quarter of the year, at least in the loans to companies and households for consumer products -first decline at the end of 2016-, since the granting of mortgages It would have increased slightly. This fall is the result of lower spending on consumer durables, as well as an increase in domestic financing through savings, and a greater use of loans with external financing. For the current quarter, the Spanish entities surveyed anticipated a slight relaxation of the criteria for granting loans to companies, and a stability in the two segments of financing to households, that is, consumption and housing. Regarding the demand, if its forecasts are met, the requests for financing will fall again slightly in the case of companies, and will increase in households, both for housing and for consumption.
These are the main conclusions of the Bank of Spain's survey on bank loans in Spain, from April 2019, prepared from the responses of ten Spanish institutions.