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Lusa - Business News - Potugal: Customer deposits in March up 4.2% YoY to highest level since end-2022
Lisbon, April.26,2024(Lusa)- The stock of deposits held by individuals in Portugal was in March this year up 4.2% on the same month of last year, at €182.203 billion, marking the highest value and the largest year-on-year change recorded since December 2022, the Bank of Portugal announced on Friday. "At the end of March 2024, the 'stock' of individual deposits with resident banks totalled 182.2 billion euros, 0.8 billion euros more than in February 2024," the central said in an analysis released today. In the document, it adds that term deposits, which include deposits with an agreed maturity and deposits redeemable at notice, were in March up €547 million on the previous month and 15.6% on March of last year, to €103.876 billion. In the case of companies, the volume of deposits with resident banks was €64.032 billion, up €1.192 billion on the month but down 1.48% on the year. In the field of loans to individuals, the total amount totalled €128.226 million. The year-on-year change, which excludes the impact of changes that were not due to actual transactions, was 0.4%, making March the second month in a row with a positive change. The total amount of housing loans was €98.977 billion, was €248.2 million more than in February, but down 0.66% on March of last year. At the end of March, the stock of consumer loans totalled €21.441 billion, around €131 million more than in February and 5.8% up on the year. As for the stock of loans to companies, at the end of the first quarter, the total amount was €72.760 billion, down €1.796 billion or 0.8% on a year earlier. By company size, micro-enterprises were the only ones to see year-on-year growth (4.2%) in loans granted, while small, medium-sized and large companies saw contractions in this indicator, of 3.4%, 5.8% and 0.6% respectively. By sector, industry and electricity and trade and transport and accommodation saw loans granted fall, by 3.0% and 2.6% respectively, afer February year-on-year declines of 3.1% and 2.5%. Conversely, the construction and property sector saw loans increase by 1.8%, although that increase was smaller than that in February, when it was 2.1%. OJ/ARO // ARO. Lusa Agency : LUSA Date : 2024-04-27 11:14:00
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