The social pressure to 'have' is a strong ally of credit institutions against families
The ease of access to credit for 'pure consumption', without any 'prior checks', leaves families more vulnerable and likely to fall into the so‑called revolving credit spiral, warns Maria Emília Teixeira. In an interview with ECO, the professor of banking law at the Universidade Portucalense, an expert in financial literacy and consumer protection, ...
Consumer credit grew in October compared to last year, credit cards have the highest rate
Consumer credit in October recorded an increase of about 14.5% year-on-year, reaching 855 million euros, according to data from the Bank of Portugal. The highest average effective interest rate is paid on money spent using credit cards.
New consumer credit reaches record high in October
New consumer credit reached its highest amount ever in October: banks and financial institutions granted 855 million euros to families for consumption purposes, representing a 14% increase compared to the same month last year. Data from the Bank of Portugal shows that all ...
Consumer credit grows by 11.3% in October to 855 million
In October, consumer credit increased by 11.3%, reaching a total of 855 million.
Consumer credit grows by 11.3% in October to €855 million
Consumers in Portugal took out €855 million in consumer credit in October, marking a year-on-year increase of 11.3%, while the number of new contracts rose by 4% to 157,367, as reported today by the Bank of Portugal (BdP).
Mortgage lending soars to historic highs in October
New consumer credit operations reached an unprecedented value in October. According to data from the Bank of Portugal released this Wednesday, banks financed €2.16 billion for home purchases in the tenth month of the year. Young people continue to drive the granting of housing finance, accounting for over 60% of new loans.
