A new analysis from the Banco de Portugal reveals that credit intermediaries now process 51% of consumer credit and 56% of housing loans in Portugal. The report notes that using these intermediaries is often associated with higher annual percentage rates (APR) compared to contracting directly with a bank.
Credit intermediaries handle over half of all loans
Monday, 8 June 2026AI summary
Context & Explainers
- Governor of Banco de Portugal (2020–present)
- Former: Minister of Finance (2015–2020), President of the Eurogroup (2018–2020)
- Party: Independent (PS-affiliated)
- Background: Economist (PhD, Harvard)
Mário José Gomes de Freitas Centeno (born 1966) is Portugal's central bank governor and one of the country's most internationally recognized economic figures. As Finance Minister under António Costa's first PS government, he became known as "Cristiano Ronaldo of European finance" for turning Portugal's deficit into a surplus while reversing austerity.
He was elected president of the Eurogroup (the informal body of euro area finance ministers) in 2018 — the first Portuguese to hold the role. Since becoming Governor of Banco de Portugal in 2020, he sits on the ECB's Governing Council and oversees Portuguese banking supervision and financial stability.
4 sources
- More than half of the value of loans in Portugal made by credit intermediariesTSF ·
- Credit intermediaries attract customers with lower financial literacy and lower incomeseco.sapo.pt ·
- Use of intermediaries for personal loans is associated with higher APRrtp.pt ·
- As credit intermediaries grow, the bank branch network shrinkspublico.pt ·
