Loans by size of firms 2019Sep

Credit slows down slightly
  • The outstanding amount of drawn credit reaches 1,041.0 billion euros at end September 2019, up by 6.2% year-on-year, after a rise of 6.6% between August 2018 and August 2019.
  • The slowing down of credit growth is more sizeable for large firms (+6.7% over a year, after +7.7% in August). Credit growth slows down also for intermediate-sized enterprises (+3.8% over a year, after +4.3% in August), and SMEs (+6.2%, after +6.5%).
  • The increase in the outstanding amount of drawn credit is strong for the advisory and business support activities (+8.5%), in the information and communication sector (+8.4%), in the industry (+7.2%) and for the real estate activities (+7.0%). The sectors with the lowest growth rates are the education and human health (+2.8%), wholesale and retail trade (+3.1%) and construction (+3.0%) sectors.
  • The average interest rate on new loans to NFCs falls by 8 basis points in September 2019 for loans over EUR 1 million (1.28%, down from 1.36% in August 2019), thus reaching a twelve-month low. For loans up to EUR 1 million, this rate decreases by 3 basis points (1.53%, down from 1.56% in August 2019).
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
Sept.-19 Sept.-19 Sept.-19/Sept.-18 Aug.-19/Aug.-18
SME 1,119,436 430.0 6.2 6.5
ISE 6,433 284.3 3.8 4.3
Large Firms 284 146.2 6.7 7.7
(exc. non-trading real estate companies and others)
1,126,153 860.5 5.5 6.0
non-trading real estate companies and others (see Additional) 599,651 180.5 9.7 9.9
All enterprises 1,725,804 1,041.0 6.2 6.6
(*) inc. sole proprietors
(**) LME definition, with loans outstanding amounts above 25000 euros
(***) Outstanding amounts and y-o-y growth rates have been revised after revisions of some statements made by banks
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
Sept.-19 Sept.-19/Sept.-18 Sept.-19 Sept.-19/ Sept.-18
Agriculture, forestry and fishing (AZ) 55.0 4.3 62.6 4.4
Industry (BE) 135.8 7.2 228.5 7.7
- inc. Manufacturing (C) 106.1 5.1 173.6 5.4
Construction (FZ) 55.1 3.1 85.4 7.4
Wholesale and retail trade; repair of motor vehicles and motorcycles (G) 139.3 3.0 191.8 2.6
Transportation and storage (H) 49.5 5.8 63.5 4.8
Accommodation and food service activities (I) 31.5 5.2 35.9 6.5
Information and communication (JZ) 18.5 8.4 44.2 32.4
Real estate activities (LZ) 420.1 7.0 462.6 7.0
Advisory and Business support activities (MN) 63.3 8.5 82.4 5.8

Education, human health and social work services, Arts, entertainment and recreation, Other service activities (P to S)
48.8 2.8 55.9 2.0
Holdings 24.2 21.0 32.0 19.6
Total 1,041.0 6.2 1,344.7 6.9
Interest rates on new loans to non-financial corporations (exc. overdraft)
(Effective interest rates in the narrow sense, in percentages)
Sept.-18 Apr.-19 May-19 June-19 July-19 Aug.-19 (a) Sept.-19 (b)
- Credits < or = 1 million euros 1.67 1.66 1.65 1.62 1.60 1.56 1.53
- Credits > 1 million euros 1.47 1.52 1.31 1.33 1.51 1.36 1.28
(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:

Outstanding amounts of credit to micro-enterprises (incl. sole proprietors), come from another data collection and are available at the following address:

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 - September 2019

Loans by size of firms

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Loans by size of firms
  • Published on 11/08/2019
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Published on Friday, November 8, 2019