The credit granted by financial institutions to families and non-profit institutions residing in Spain fell by 2.5% in November 2023 compared to the same month in 2022, to 693,076 million euros, while financing to companies fell 3.5%, to 921,924 million euros, according to data published this Tuesday by the Bank of Spain.

Compared to November 2022, the credit granted to families has fallen by 18,062 million and that provided to companies, by 33,462 million euros, all in a context marked by the impact on the Spanish economy of geopolitical conflicts, the inflation still high and the monetary adjustment caused by increases in interest rates.

In monthly comparison, family debt has risen by 10,117 million euros in November compared to October, which is 1.4% more. For its part, company debt was 997 million euros lower in November than in October, 0.1% less.

Household mortgage loans, which represent the majority of their total debt, stood at 497,807 million euros in November 2023, which is 17,966 million less than a year before and 937 million less than the previous month.

In this way, data from the Bank of Spain show that the amount that families allocate to their home continues to occupy the majority of their debt, since it represents around 73% of it.

For its part, household loans for consumption grew by 2.6% in interannual rate in November, up to 98,695 million euros, while increasing slightly in the monthly rate, 1.14%.

Finally, family loans intended for other purposes totaled 93,245 million euros, below the 95,868 million a year before but above the 83,313 million the previous month.

For its part, financing to companies in the month of November of this year fell year-on-year, due to the decrease in both loans with financial institutions and debt securities, while foreign loans rose sharply. very light.

Specifically, bank loans from companies stood at 456,354 million euros last November, which represents a decrease of 5.6% compared to the same month of the previous year, while debt securities fell by 4.8% to 129,107 million, while foreign loans rose a slight 0.12% year-on-year, to 336,463 million.