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by Bestrates.com
While outstanding consumer loans increased by +3.4% year-on-year in the euro area at the end of the second quarter, the increase remains limited for France. According to figures from the Banque de France, the annual growth rate was actually +2.9% last June. Compared to the figure recorded in March, this remained stable.
Revolving loans accounted for two-thirds of the total outstanding
ImportantAccording to official statistics, revolving loans distributed by banks accounted for 60% of the total volume of consumer loans granted at the end of the second quarter.
For their part, specialized institutions provided about 35% of the revolving loans in the same period. In one year, this type of loan had a growth of +3.3%.
It should be noted that outstanding consumer loans include outstanding securitized loans. This includes designated loans (car loans, work loans, etc.), personal loans, temporary current accounts, credit card loans and revolving loans.
The list also includes leases and installment sales, which are grouped with credits awarded over the past 8 years.
The annual growth rate for ordinary debit accounts was +11.7% last June, while growth for leasing fell by -5.8%.
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Modest development of average interest rates in France
Compared to the increase in average interest rates in the euro area, the slope of the yield curve in France is less pronounced .
In fact, overdrafts and revolving loans increased by +4.6% against +5.8% for the euro area. And the increase in average interest rates for new amortizing loans was +3.7% (versus +5.6%).
