The new loans in financing operations for consumption in Portugal rose 11.4% in 2014 and amounted to 4,128 million euros, showing a D & B study.

It says that 59% of the total amount of new investment accounted for institutions with universal activity and the remaining 41% to institutions specialized in credit activity. The forecasts in the short-term point for extending the upward trend of credit in the Portuguese market, in a context of growth of the final household expenditure.

According to the Competitors study “Consumer Credit and Portugal”, recently published by D & B, the credit demand for consumption in Portugal was penalized by 2012 by the economic crisis, household spending weakness and restrictions on lending by the financial institutions, having been a significant pick-up in activity from 2013.

In this context, the new investment increased by 15% in 2013, reaching 3,705 million euros, while in 2014 rose 11.4% to 4128 million euros.

The recovery of the Portuguese economy allows to foresee an increase in credit demand in the short and medium term. In this context of recovery, it anticipates a reactivation of the activity of some of the institutions that in recent years caught the granting of new loans.

[Source]