NPL&REO News

Portuguese banks Grant €734 million in home loans

In February, Portugal’s banks lent €734 million euros for home purchases, down 1.7% from January but up 8.6% from February of 2018, according to the latest figures release by the Bank of Portugal.

They lent €2.259 billion to companies in the month, 16.7% more than in February of 2018.

Among other loans to private individuals, banks provided €365 million in consumer loans, up 8.0% from January and up 2.0% from February 2018; for other purposes they lent €163 million, up 22.6% on the month and up 9.4% on the year.

In February this year, the average interest rate for home loans granted to individuals was 1.37%, down three basis points from January’s average rate.

For consumer credit and other purposes, average rates were 7.23% and 4.06% respectively.

Finally, the average rate for new loans to companies was 2.42%, against 2.41% in January.

Original Story:The Portugal News | TPN/Lusa
Photo: FreeImages.com/Miguel Saavedra
Edition:Prime Yield

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