January 19, 2021

The debt of families with the banks grew 1% before Christmas and reached 704,624 million


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The bank debt of families and non-profit institutions resident in Spain increased in November by 7,899 million compared to the previous month (+ 1.1%), to 704,624 million euros, while the debt of companies increased by 0 , 3% per month, with an increase of 2,813 million, to 945,509 million, due to the measures approved by the Government to mitigate the effects of the Covid crisis, according to the latest data from the Bank of Spain.

Instead, in the last year the indebtedness of Spanish households fell by 8,214 million euros, 1.1% less, while the debt of companies registered an increase of 43,700 million euros, which represents an increase of 4.8% compared to November of the previous year and reaches a new maximum due to the liquidity measures approved by the Executive to alleviate the Covid-19 crisis, such as endorsements with guarantees from the ICO.

In recent months, the debt of Spanish households has been stabilizing and has even generally fallen, to stand at pre-crisis levels due to the gradual reduction of the loans contracted, the fall in interest rates and the cheaper loans, although in November it has experienced a slight rebound compared to the previous months.

Consumer loans grow in the last month

The year-on-year fall in household debt in the penultimate month of the year was due both to the decline in mortgage loans, as well as the fall in consumer loans.

Thus, the cMortgage yields, which represent most of the total, stood at 511,887 million euros in November, marking 2006 levels, with a 1.5% year-on-year decline and practically unchanged on a monthly basis (426 million less).

Despite the decline in household investment in housing in recent years, the amount that families spend on their household continues to occupy most of its debt, since it represents around 73% of it.

For their part, consumer credits from families They also experienced a slight year-on-year decrease of 0.2%, to 192,737 million euros, but rose by 4.5% compared to October.

Record of financing to companies

On the other hand, financing to companies in November was raised by 43.7 billion euros year-on-year, up to 945,509 million euros, 4.8% more, mainly due to the increase in loans from credit institutions due to the measures approved by the Government against the crisis, as well as debt securities and loans from abroad.

In fact, it accumulates three consecutive increases on a monthly basis and exceeds the peak of May, when it marked a maximum 940,000 million euros, which registered a new record in November, already exceeding 945,000 million.

Specifically, the credits of banking entities with companies increased 6.5% year-on-yeartol, with 30,983 million more in one year, up to 508,610 million euros. On a monthly level they are maintained, rising only by 284 million.

Likewise, the representative debt securities creceived 8% year-on-year, to 127,255 million, at its historical maximum, increasing 1.7% on a monthly basis.

Finally, the foreign loans rose 1% year-on-year, up to 309,644 million, and grew 393 million on a monthly basis.

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