According to data from the Bank of Spain, credit granted by financial institutions to households and non-profit institutions resident in Spain fell by 1.8% in April 2024 compared to the same month in 2023, to €678,762 million, while financing to companies fell by 0.4%, to €928,705 million, according to data published on Monday by the Bank of Spain.
Mortgage loans to households, which account for most of their total debt, stood at €494,265 million in April 2024, which is €12,104 million less than a year earlier, a fall of 2.4%. And that provided to companies fell by €3,459 million, all in a context now marked by geopolitical tensions, price rises and higher interest rates.
Specifically, bank loans to companies stood at €456.503 billion in April, down 3.4% compared with the same month in 2023, while debt securities fell 0.4% to €130.598 billion and foreign loans rose 4% year-on-year to €341.604 billion.
What is growing is household credit for consumption: it grew by 4.6% year-on-year in April 2024 to over €100 billion (100.03 billion), while household loans for other purposes reached €81.025 billion, down from €85.8 billion a year earlier.
