Loans by size of firms 2019Dec

Slowing down of credit growth for large firms and ISE

  • At the end of December 2019, the outstanding amount of drawn credit reaches 1049.1 billion euros, up by 4.3% year-on-year, after a rise of 5.7% between November 2018 and November 2019.

  • The decline in the credit growth is more pronounced for intermediate-sized companies (+0.3% year-on-year, compared to +3.3% in November, in part due to a one-off operation of repayment) and for large companies (+0.6% over one year, after +3.2% in November). Credit growth remains strong for SMEs (+6.0%, after + 6.5% in November).

  • The growth of the outstanding amount of drawn credit is strong in the sectors of accommodation and food services activities (+7.0%), advisory and business support activities (+6.5%), and real estate activities (+ 6.5%). Credit decreases in the construction sector (-0.6%) and the smallest increases are observed in the education and health (+0.5%) and trade (+1.2%) sectors.

  • The average interest rate on new loans to non-financial corporations of more than EUR 1 million stands at 1.30%, down 12 basis points over one year. The interest rate on loans up to EUR 1 million stands at 1.48%, down 18 basis points over one year.

Outstanding amounts of loans to resident enterprises by size (*)
(Outstanding amounts in EUR Bn, annual growth rate in %)
Number of enterprises (**) Outstanding amounts Drawn credits

annual growth rate
Dec. 2019 Dec. 2019 Dec. 2019 / Dec. 2018 Nov. 2019 / Nov. 2018
SME 1,125,171 436.7 6.0 6.5
ISE 6,400 282.5 0.3 3.3
Large Firms 280 144.4 0.6 3.2
Total
(exc. non-trading real estate companies and others)
1,131,851 863.6 3.2 4.9
non-trading real estate companies and others (see Additional) 605,465 185.5 9.8 9.7
All enterprises 1,737,316 1,049.1 4.3 5.7
(*) inc. sole proprietors
(**) LME definition, with loans outstanding amounts above 25000 euros
Outstanding amounts of loans to resident enterprises by type of credit and by sector
(Outstanding amounts in EUR Bn, annual growth rate in %)
Drawn credits Drawn and undrawn credits
Outstanding amounts Annual growth rates Outstanding amounts Annual growth rate
Dec. 2019 Dec. 2019/Dec. 2018 Dec. 2019 Dec. 2019/ Dec. 2018
Agriculture, forestry and fishing (AZ) 54.2 3.8 62.0 4.2
Industry (BE) 136.2 1.5 227.5 3.2
- inc. Manufacturing (C) 106.7 1.6 173.3 2.2
Construction (FZ) 54.3 -0.6 86.0 1.7
Wholesale and retail trade; repair of motor vehicles and motorcycles (G) 140.5 1.2 202.5 6.2
Transportation and storage (H) 49.8 1.7 65.8 4.9
Accommodation and food service activities (I) 32.2 7.0 36.4 5.6
Information and communication (JZ) 18.6 5.4 42.7 21.0
Real estate activities (LZ) 426.0 6.5 469.5 6.7
Advisory and Business support activities (MN) 63.0 6.5 81.8 4.2

Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S)
49.0 0.5 56.2 1.1
Holdings 25.4 16.5 35.5 26.5
Total 1,049.1 4.3 1,365.7 5.9
Interest rates on new loans to non-financial corporations (exc. overdraft)
(Effective interest rates in the narrow sense, in percentages)
Dec- 2018 juil. 2019 Aug-2019 SEP- 2019 Oct- 2019 Nov- 2019 (a) Dec- 2019 (b)
- Credits < or = 1 million euros 1.66 1.60 1.56 1.54 1.52 1.50 1.48
- Credits > 1 million euros 1.42 1.51 1.36 1.27 1.41 1.30 1.30
(a) Revised
(b) Provisional
Outstanding amounts of credit
(drawn credit, in EUR Bn (*))
(*) see Additional information
Additional information
The outstanding amounts of credit in this publication are those collected by the central credit register, i.e. of a unit amount of more than 25,000 euros. These outstanding amounts include drawn credits, which means those actually used, and the undrawn credits, unused lines of credit. Individual data are grouped according to the size (larges firms, intermediate-sized enterprise - ISE and small and medium-sized enterprise - SME) and the sector of businesses. Businesses that cannot be assigned in a size category according to the criteria of the LME (Loi de Modernisation de l'économie) are included in the category "non-trading real estate companies and others".

Additional data on SMEs, interest rates by size of enterprises, and share of less than 3 year old enterprises (excl. sole proprietors) in the total of enterprises, are available at the following address:
http://webstat.banque-france.fr/fr/browse.do?node=5384417
Outstanding amounts of credit to micro-enterprises (incl. sole proprietors), come from another data collection and are available at the following address:
http://webstat.banque-france.fr/fr/browse.do?node=5384934

Non-financial corporations include all enterprises with as main activity the market production of goods and non-financial services, excluding sole proprietors.

Interest rates in this publication are those to new credits distributed by resident credit institutions to French non-financial corporations. The interest rates are effective rates in the narrow sense. They correspond to the interest component of the Annual Percentage Rate (TEG).
More information on methodology time series calendar
All statistical time series published by the Banque de France can be accessed on
Webstat Banque de France
STAT INFO - December 2019

Loans by size of firms

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Loans by size of firms
  • Published on 02/11/2020
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Published on Tuesday, February 11, 2020