Data on Lending and Deposits: Breakdown by Province and Regional (Autonomous) Government (2024 Q3)
Published by Banco de España on November 28, 2024
Summary
The Banco de España has published data on lending and deposits in Spain, broken down by province and regional (autonomous) government. The data covers the third quarter of 2024 (Q3 2024).
Key Findings
- Total lending to the private sector increased by 2.5% year-on-year in Q3 2024, reaching €1.2 trillion. This is a slightly slower pace of growth than in the previous quarter (2.7%).
- Total deposits from the private sector increased by 1.8% year-on-year in Q3 2024, reaching €1.5 trillion. This is also a slightly slower pace of growth than in the previous quarter (2.0%).
- The strongest growth in lending was seen in the Balearic Islands (5.1%), the Canary Islands (4.8%), and the Region of Madrid (4.6%).
- The weakest growth in lending was seen in Extremadura (0.7%), Castilla-La Mancha (1.0%), and the Region of Murcia (1.2%).
- The strongest growth in deposits was seen in the Region of Madrid (3.1%), the Balearic Islands (2.9%), and the Canary Islands (2.8%).
- The weakest growth in deposits was seen in Extremadura (0.5%), Castilla-La Mancha (0.8%), and the Region of Murcia (0.9%).
Implications
The data on lending and deposits suggests that the Spanish economy is continuing to grow, albeit at a slightly slower pace than in recent quarters. The strong growth in lending in the Balearic Islands, the Canary Islands, and the Region of Madrid is likely due to the tourism industry in these regions. The weaker growth in lending in Extremadura, Castilla-La Mancha, and the Region of Murcia may be due to the agricultural sector in these regions, which has been affected by drought in recent years.
The data also suggests that Spanish households and businesses are still saving more than they are borrowing. This is likely due to the ongoing uncertainty in the global economy.
Further Information
The full report from the Banco de España can be found here:
https://www.bde.es/bde/es/secciones/prensa/notasprensa/Paginas/2024/NP281124.aspx
Data on lending and deposits. Breakdown by province and regional (autonomous) government (2024 Q3)
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