Las companies and families from province they settled the second trimester with a new year-on-year decline from amount that they had requested in loans. And there has already been a complete year of declines, according to the indicators of the Bank of Spain.
A June 2023 date -the figures are provided quarterly and these are the latest data available-, businesses and households totaled 12,317 million in outstanding credits to pay the bank. That amount implied a recoil compared to the same month of 2022 3,7% after a reduction of 475 million. And it is not a specific drop.
This is the fourth quarter in a row in which a year-on-year decrease. Yes indeed, the latter has been the most pronounced. Because in September, when the upward trend was broken, there was a drop of 0.4%. In the following quarter, the decline was much smaller: -0.1%. In March 2023, the reduction gained strength (-2.5%) and in June it went further.
These decreases are due to the fact that what financial institutions grant es less than what businesses and families amortize -The rise in rates has also encouraged those who can to reduce or pay off what they owe. And the increase in the price of money has completely changed the scenario. Individuals and companies think more carefully before going into debt. And the banks, for their part, have also tightened the granting of credit.
Y It is not the increase in rates that can deter to ask for loans. You have to take into account the climate of slowdown in activity that is experienced, although it is less than initially anticipated.
Mortgage advertising in a Banco Santander office in Ciudad Jardín valerio merino
According to the latest report of Economic Analysts (Unicaja research service) that was published in November, the province will close this 2023 with a GDP increase of 1%. The slowdown is felt when it is remembered that 2022 was coming with an increase of 3%, which already represented a decrease compared to 2021, a year of intense improvement after the brutal impact of the Covid recession in 2020.
Furthermore, according to this research service, the Ours will be the third Andalusian territory with the least growth of its economy in this year – in all of them, there will be progress. And the increase in GDP in our province It would be one point below the regional level.
Deposits
If you go to the parameter of the depositshay some sign which could indicate that savings would be suffering in this context of deceleration and prolonged inflationary pressure. As of June, the total money that individuals and companies kept in banks, savings banks and rural savings banks amounted to 15,875 million in the province. It continued to grow, as there were 729 more than a year before (+4.8%). But you have to scratch below the average, because there is a notable element.
The money of families and companies in demand deposits – that is, money available immediately – has recorded its second consecutive quarter of decline. As of June, the drop is 4%
What the private sector treasures in view -I mean, available immediately– added his second quarter in a row of year-on-year decline. In March, she broke her upline. The decrease was 0.6% and in June it went to 4.2%. Because it went from 14,275 million to 13,680 (-595).
There may be different reasons behind these reductions. One is that in the face of a prolonged scenario of slowdown in the economy and rising prices, families and companies are having to pull from their monetary cushion. There will also be a part of those funds in sight, which, given the low profitability that the banks give for this type of deposit, have ended up seeking to get more performance out of the money with the increase in rates, in the term formulas or in other mechanisms, such as Treasury Bills. Not in vain, fixed-term savings have accumulated two consecutive quarters of growth. As of June, the increase was 60%, reaching 1,391 million.
Y other deposit formulas they starred in a astronomical increase. According to the latest data available, they totaled 805 million. Twelve months before, only one was counted.
2023-12-17 08:20:11
#credit #families #companies #Córdoba #continues #decline #year #money #owe #bank #falls
