Banks are making plans for a significant increase in credit in 2015, following a year that saw just 650 million euros issued in housing and consumer loans.
The upturn in demand during the September-November period stopped in December due to the political uncertainty. According to the converging views of bank officials, for the whole of 2014, 250 million euros was issued in mortgages and 400 million in consumer loans, excluding credit cards and account overdrafts.
Estimates for this year foresee new mortgage loans of between 600 and 800 million euros, but bank officials stress that this will be determined by the level of demand in the first four months of the year. The demand profile observed last year is expected to dominate 2015 too, with funding focusing on amounts between 80,000 and 100,000 euros for home acquisitions priced at between 100,000 and 150,000 euros, given that borrowers have to cover at least 25 percent of the cost.
The estimates regarding consumer credit see new loans that could reach up to 1 billion euros, with an emphasis on special purpose loans for the likes of car purchases, home energy upgrades, tuition fees and so on.